If I made that kind of money, I’d buy up as many rental properties as I possibly could, and hire somebody to manage them.
PING!...............
Meaningless, like chasing after the wind…
I have never understood the need to spend money for show. The only time we went overboard was when we were selling our house and those upgrades and remodels (house was built in the 1940s and was still original everything) more than paid for themselves.
Because most former players only have 2.5 years in the league getting paid minimum on a rookie contract. Good for $750k - 1.25 Mil over 3 years, but then things start to add up:
Taxes, buying mom a house, living in a major metropolitan area for most of the year, and being young & sorta dumb means you may not have too much other than a nice car and the house for Mom when you start your REAL career — coaching. Or selling insurance.
Making $20 million seems like a lot, but if you retire at 32 that gives you $400K a year to live on. Most players don’t do that math and think they can spend millions every year.
In a sane world this guy would be sought out as speaker. The man at his core is a stoic.
I firmly believe all high school and college students should have to take a course in financial management.
Wow!
A black NFL player with common sense comes to mind. Discipline in life generally means crucifying ego and immediate gratification. He should write a book about money for NFL rookies.
I remember when he was playing; he came off as a loud mouth braggart. I guess he was a lot smarter than I thought...
It's one of the many lessons he taught me for which I'm very grateful.
With pro athletes it's not difficult to see why they'd buy expensive things after having grown up in the projects. But Chad was smart!
I admire this. Though I would grant myself some things such as never flying Sprint.