NFL Linebacker Talks $$$

[mickeyd]

He is not playing in the SB on Sunday, but it's good to hear about players headed in the right direction when it comes to money management.

Quote:

Brandon Copeland is an NFL linebacker with the soul of an entrepreneur. In fact, he is both — a pro football player and the founder of thriving business enterprises he started while stopping running backs on the gridiron. He is also a professor of personal finance at the Wharton School of the University of Pennsylvania, his alma mater.

https://www.thinkadvisor.com/2022/02...&utm_term=tadv

[mystang52]

I tried, quickly, but was unable to find via Google a now-retired NFL kicker who was a financial adviser to NFL players. In my Googling, I came across a few names of other players who also do it. So at least some recognize that pro football is not forever and even players making millions need to be wise with their money. I read, a while back, that Rob Gronkowski has lived solely on his endorsement $$ and stashed all of his player earnings.
Sadly, there are also stories of players that go bankrupt or revert to criminal activities after their playing days

[jollystomper]

Quote:

Originally Posted by mystang52 Sadly, there are also stories of players that go bankrupt or revert to criminal activities after their playing days

Things seemed to improve in this area since the documentary "Broke" came out in 2012. That was an eye opener for a lot of athletes. In addition, more NFL teams began adding some basic personal finance education and related services to players, particularly rookies.

It is good to see more and more stories such as the one OP posted. Those are not considered as "exciting" as the troubled stories, which is one reason.

[FANOFJESUS]

Quote:

Originally Posted by jollystomper Things seemed to improve in this area since the documentary "Broke" came out in 2012. That was an eye opener for a lot of athletes. In addition, more NFL teams began adding some basic personal finance education and related services to players, particularly rookies. It is good to see more and more stories such as the one OP posted. Those are not considered as "exciting" as the troubled stories, which is one reason.

"Broke" is great I watched it several times. Amazing

[Music Lover]

I remember watching an episode of House Hunters (yes, I know it's fake) where an NBA player was looking for a rental in his home town (maybe Miami?). He was adamant that the monthly rent not exceed $5000. That might be high for some people, but seems it reasonably frugal for a well-paid professional athlete.

[F.I.R.E User]

Football is also one of the dangerous sport to play. Not worth the health risk.

[Dean56]

Quote:

Originally Posted by jollystomper Things seemed to improve in this area since the documentary "Broke" came out in 2012. That was an eye opener for a lot of athletes.

That was a very good documentary. Very eye opening for sure.

[teejayevans]

There was a recent story about a college player when asked if he cared which team drafted him said he wanted to go to a state with no income tax. Nice to know some are thinking about their future paycheck as a limited resource.

[candrew]

Sadly, as in the case of NHL defenseman Jack Johnson, it seems that some pro athletes fall prey to those who they think are the most trustworthy people in their lives - Mom & Dad.

https://www.forbes.com/sites/ericmac...h=4a1a08c65958

According to court documents, [Jack Johnson's mother] Tina Johnson, borrowed at least $15 million across about 18 high-interest loans that resulted in multiple defaults. Some of these loans had interest rates as high as 24%.

[Apparently], Johnson was not aware of certain of the purchases and has been sued multiple times for defaulting on loans.

There are parents who feel entitled to their child’s earnings. They point to the many sacrifices they have made to put their child in a position to earn millions, and on that basis, are convinced they have a right to some, or a lot, of that money."

[ncbill]

Quote:

Originally Posted by mystang52 I tried, quickly, but was unable to find via Google a now-retired NFL kicker who was a financial adviser to NFL players. In my Googling, I came across a few names of other players who also do it. So at least some recognize that pro football is not forever and even players making millions need to be wise with their money. I read, a while back, that Rob Gronkowski has lived solely on his endorsement $$ and stashed all of his player earnings. Sadly, there are also stories of players that go bankrupt or revert to criminal activities after their playing days

Heck, kickers probably have some of the longest average tenures versus the run-of-the-mill NFL player whose career lasts ~3 years on average, IIRC.