Interestin Article About An NFL Player With Options As His NFL Career Nears The End

[BuffetParrothead]

This is an interesting article about an journeyman NFL player who realizes the end of his NFL career is near, he planned ahead by finishing college and has some really good options for the rest of his life.

Former Lions OT Cleary to attend medical school
https://www.msn.com/en-us/sports/nf...cal-school/ar-AAxcNyq?li=BBnbfcL&ocid=BDT5DHP

As opposed to many NFLers who retire bankrupt.
5 Reasons Why 80% Of Retired NFL Players Go Broke

1 in 6 NFL players go bankrupt - CBS News

Broke and Bankrupt are two different things but neither are good!

As Mrs Buffett said instead of riding the horse until it drops he getting a new horse for the rest of the ride.
Good plan!

More average NFLer's should see the handwriting on the wall and begin a transition to a new career years before their NFL careers end.

A better plan would to do what this guy did and plan their exit from sports while they're in college? Most can't figure out how to pass their mandatory scheduled drug tests?

It might help improve the broke/bankrupt statistic which isn't good!


"it's five o'clock somewhere"
Signed: Mr Buffett
Go PITT & CSU Rams"

 

[recruitsreadtheseboards]

If any or all of the players would have invested 10-20% in say Apple or Amazon, none of them would worry about finances 20 years later.

 

[Jpripper88]

Honestly, most of these guys shouldn't have even been in college, so it isn't surprising they go broke or don't usually have great options after college. Of course, most of our society lives just like these NFL players and are pay check to pay check, so when the checks stop, they are broke.

 

[recruitsreadtheseboards]

Honestly, most of these guys shouldn't have even been in college, so it isn't surprising they go broke or don't usually have great options after college. Of course, most of our society lives just like these NFL players and are pay check to pay check, so when the checks stop, they are broke.

Same thing happens with alot of lottery winners, right?

 

[Jpripper88]

He still made some nice money, but stinks he didn't get to the 4th credited season. $1.35M in 5 years, but just 3 games on the active roster this year and he gets the 4th credited season and the annuity, PLUS a huge contribution jump in the 401k savings plan from $2500 contributed to $35,000 and the annuity program from $2500 to $50,000. That is a lot of scratch (not even counting the $705K salary) to leave on the table.

Good for him, though.

 

[BuffetParrothead]

Same thing happens with alot of lottery winners, right?

Same for people who inherit large sums.
Excellent comparison.
All of a sudden a person who isn't used to managing money because they never had much money to manage makes, gets, or wins alot of money and unfortunately for many the result is the same.

I listened to IMUS In The Morning which was an am talk radio show. IMUS is a huge radio personality and just retired a very wealthy man in his 70's.

He talked about this on one of his shows. In his early days he had some alcohol, drug, problems, didn't pay attention to his business or money and got "fleeced" big time.
As he got older, he got smarter, and instituted a policy that he personally approves in some way every disbursement his accounting/financial advisor makes.

"it's five o'clock somewhere"
Signed: Mr Buffett
Go PITT & CSU Rams!