Good article on pro athletes and money

[braumeister]

NFL players offer financial advice

Interesting piece and pretty much true.

Surprisingly good 401(k) plan.

Quote:

For every $10,000 a player puts in, his team and the league each put in $10,000, for a total of $30,000

And some good advice.

Quote:

“A financial adviser is not your friend. They’re your employee,” says Kerney. “If you don’t know how to properly evaluate such an employee, you should place all of your money in a savings account until you do.”

I'm thinking of my former next door neighbor who was a MLB pitcher. He was a very LBYM guy ("I'm trying to get a quarter million miles out of this pickup.").

[candrew]

Colts QB Andrew Luck:

"After signing a $140 million contract, Luck celebrated by replacing his old flip phone with a—drum roll, please!—new flip phone. He's not ashamed. Luck posted a photo on Facebook with the message, "Thanks to AT&T for hooking up the new phone!"

A Portrait of Andrew Luck: The NFL's Nice-Guy, Mean-Competitor, Badass-Geek QB | Bleacher Report

Luck seems to be a LBYM type of guy.

[jollystomper]

I'm glad to see this being provided now. There was an article a few years back (can't post a link at the moment) about how a large majority of U.S. pro athletes end up broke within 5 or so years of leaving their sport. Also an ESPN special about it.

[easysurfer]

Quote:

Originally Posted by candrew Colts QB Andrew Luck: "After signing a $140 million contract, Luck celebrated by replacing his old flip phone with a—drum roll, please!—new flip phone. He's not ashamed. Luck posted a photo on Facebook with the message, "Thanks to AT&T for hooking up the new phone!" A Portrait of Andrew Luck: The NFL's Nice-Guy, Mean-Competitor, Badass-Geek QB | Bleacher Report Luck seems to be a LBYM type of guy.

Not only LBYM but also being content with what he has and avoiding the herd mentality. For just making and receiving phone calls, you can't beat a flip phone.