One of the questions folks always ask me about being an NFL player is, «what is it like making a lot cash at such a young age?»
I’ve to say that it may be very troublesome to go from being younger and having no cash to being young and a millionaire because you don’t know learn how to be financially responsible. It is just like profitable the lottery, and as you know from reading about lottery winners, most lottery winners go broke within 10 years after profitable the lottery. Well, it shouldn’t be that much completely different with professional sports players. The reason for this is most professional athletes, and lottery winners, have been by no means taught cash management skills. Going from being broke someday to being a millionaire the subsequent day is a huge change in your life, principally because after you have money, everybody wants you to offer it to them, and more often than not you do.
I came from a single family dwelling without a father, which is something many professional NFL players have in common. I’m additionally African American and my household didn’t have some huge cash, which can be quite common amongst NFL players. Because of this, I used to be by no means taught how to manage cash responsibly and plan for my future. I went from being broke in the future to being drafted into the NFL and turning into a millionaire.
An enormous problem with being young and having a lot of money is the pressure by just about everybody together with fellow players to spend some huge cash very quickly. When you’re rich, everybody wants your cash, especially your family and friends. My mother, aunts, uncles, cousins, friends, etc. all wished to borrow money from me. And of course I gave it to them. Then, you may have girlfriends and wives who want you to purchase them a lot of costly presents like automobiles, jewelry and clothes because you’re rich and so they wish to show off to their friends. You even have charities, investors, and businesspeople all asking for your cash—and you end up giving it to them.
However probably the worst of all is the other players because when it involves money it is the blind leading the blind. All of us spend our money as if it will by no means run out because we are uneducated in financial responsibility. For example, so that you can be cool and respected by the opposite players, you must keep up with them. So, if one player buys a new SUV, you wish to purchase one too. I imply, you may’t be an NFL player and drive a normal automotive like a Honda Civic. You have to drive an expensive Hummer, Cadillac Escapade, BMW, Mercedes, Porsche, etc.
You additionally must have an enormous costly house. All the other players do and in the event you just live in a mean house, they look down at you. So, we lay our a fortune shopping for big houses for ourselves and for our parents that we don’t need. And of course there is the jewelry. We spend so much cash on jewelry it is insane. It’s nothing for a player to spend $a hundred,000 a yr or more shopping for jewelry, and that’s just for us. That doesn’t include all of the jewelry we buy for our family, wives, and girlfriends. It is all extremely irresponsible. However, when you’ve gotten so many people putting pressure on you daily to buy things and keep up with the opposite NFL players, it turns into a lot simpler to say yes than to say no, whilst you’re watching your entire cash disappear.
Another problem is as a rich NFL player, you’re anticipated to flip the bill for everything. Everytime you go out to restaurant, you are the one who pays for eachbody. And, while you exit with different players or your buddies, it is always to a fancy club where we go to the VIP section and spend thousands of dollars on fancy champagne and drinks—for eachbody. I’ve known players who have spent over $25,000 in a single night at a club. And then they go and do it time and again so they can be the «big man.»
Another problem NFL players have is women who are after us for our money and our status. And many of these ladies are gold diggers. If we weren’t rich athletes these stunning women would probably not look twice at us. However now that we are rich and well known, ladies chase us constantly. This virtually always leads to us marrying a woman we should not marry after which getting divorced after a couple of years and shedding a big share of our money in the divorce. I made this mistake myself and it value me dearly and still prices me.
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