All you have to do is literally sock away your first year’s salary and let it sit in a mutual fund, then you can spend every dollar afterwards and be fine.
True. When you see the eye popping amounts of money that some of these players make, it stuns me that they are not set for life financially.
Even if they only have a short career in professional sports, it should be enough for the rest of their lives if they manage their money carefully
Supposedly Marshawn Lynch only lived off his endorsement money and socked away his NFL salary.
Another smart one was Jamal Mashburn. Per wikipedia:
Since retiring from basketball, Mashburn has worked for ESPN as an analyst and launched a number of successful business ventures. As of 2018, he owned over 90 businesses, including 34 Outback Steakhouse franchises, 37 Papa John’s franchises, and a number of car dealerships across the state of Kentucky.[12][13] Mashburn is a partner in Ol Memorial Stable, along with former Kentucky coach Rick Pitino and Outback Steakhouse co-founder Chris T. Sullivan, which owns Kentucky Derby prospect Buffalo Man.[14]