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Even an NFL punter can invest wisely
Old 06-11-2016, 01:47 PM   #1
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Even an NFL punter can invest wisely

He's not the only professional athlete who is making sensible investment decisions, but he's probably a 1%er.

What?

No financial advisor?

How is this so?

Quote:
When we asked the Masthays what they did with his first big NFL paycheck, they said a big chunk went toward the league’s 401(k) plan and another went into an education fund for their young children.

And when asked if he ever had to switch financial advisers like many athletes do because they’re not happy with the advice or returns they’re getting, Tim said he’s never had one. He invests his money himself in low-cost index funds.
This NFL player slept in a utility closet in college to save money - MarketWatch
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Old 06-11-2016, 01:54 PM   #2
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It is refreshing to see some of these football players being smart about their short lived careers.

A friend's daughter dated an NFL player. Spent all his money as quickly as it came in and is bankrupt today.
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Old 06-11-2016, 02:25 PM   #3
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Originally Posted by Elbata View Post
It is refreshing to see some of these football players being smart about their short lived careers.
It sure is. One has to bear in mind though that many of those guys come from backgrounds where being able to deal with money, let alone large amounts of it, just isn't done.

Even then the human brain just isn't made to deal with abstract events far away in time. It seems that most of the people on this forum are by far the exception than the rule.
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Old 06-11-2016, 08:50 PM   #4
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One mistake?
Tim said one area they could have been smarter in is real estate. They bought a house in Kentucky for the off-season while also owning a home in Green Bay. They’ve since sold the Kentucky home but say they didn’t like owning a home they only used for part of the year.
This is the opposite of my plan.
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Old 06-11-2016, 09:00 PM   #5
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Back in the day, for many pro athletes, just making ends meet on meager salaries was quite often the norm. Terry Sawchuk, a NHL hall of fame goalie, winner of 4 Vezina trophies & 4 Stanley Cups had to tend bar during the off season.
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Old 06-11-2016, 09:35 PM   #6
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It sure is. One has to bear in mind though that many of those guys come from backgrounds where being able to deal with money, let alone large amounts of it, just isn't done.

Even then the human brain just isn't made to deal with abstract events far away in time. It seems that most of the people on this forum are by far the exception than the rule.

Without question many people follow the sad path you mention. And then others will be completely opposite. A reporter recently asked Marshawn Lynch if he has done well with his income he earned as RB for Seahawks.... He answered the question with a question...He asked reporter if he ever had to eat breakfast cereal with bugs in it. Reporter said no... Lynch said, he did growing up and it is never going to happen again.


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Old 06-12-2016, 01:43 AM   #7
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Back in the day, for many pro athletes, just making ends meet on meager salaries was quite often the norm. Terry Sawchuk, a NHL hall of fame goalie, winner of 4 Vezina trophies & 4 Stanley Cups had to tend bar during the off season.
Yeah, television rights, merchandising, etc really exploded athletes salaries in the last 30 to 40 years.
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Old 06-12-2016, 07:04 AM   #8
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Yeah, television rights, merchandising, etc really exploded athletes salaries in the last 30 to 40 years.
That's part of it. The other part is that athletes traditionally played "for the love of the game", while team owners treated it like a business. Then, the players got smart and also began treating it like a business and started to demand their fair share.

There are also several Washington Redskin players that live frugally:

Why the Redskins’ Players Are So Frugal - WSJ
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Old 06-12-2016, 10:05 AM   #9
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He's not the only one. Rob Gronkowski of the NE Patriots has said he has not spent one dime of his contract money. He is only spending his endorsement money. Said he doesn't see the need for fancy clothes or outrageous tattoos. Apparently not as goofy as he looks. Good for him.
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Old 06-13-2016, 11:14 AM   #10
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Saw him punt a lot before he ever got to NFL.
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Old 06-14-2016, 05:54 PM   #11
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I can't think of anything to add...so I'll PUNT.
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