One of many questions folks always ask me about being an NFL player is, “what is it like making so much money at such a young age?”
I have to say that it could be very difficult to go from being young and having no cash to being younger and a millionaire because you do not know how one can 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 will not be that much different with professional sports players. The reason for this is most professional athletes, and lottery winners, had been never taught cash management skills. Going from being broke one day to being a millionaire the next day is a large change in your life, largely because after you have cash, everybody wants you to provide 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 a lot of money, which can also be very common among NFL players. Because of this, I used to be never taught the best way to manage cash responsibly and plan for my future. I went from being broke sooner or later 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 are rich, eachbody needs your money, especially your loved ones and friends. My mom, aunts, uncles, cousins, friends, etc. all wanted to borrow cash from me. And naturally I gave it to them. Then, you may have girlfriends and wives who want you to purchase them a number of expensive presents like automobiles, jewelry and clothes because you might be rich and so they wish to show off to their friends. You also have charities, investors, and businesspeople all asking in your money–and you find yourself giving it to them.
However possibly the worst of all is the opposite players because when it involves cash it is the blind leading the blind. We all spend our cash as if it will by no means run out because we’re uneducated in monetary responsibility. For instance, for you to be cool and respected by the other players, you must keep up with them. So, if one player buys a new SUV, you wish to purchase one too. I imply, you’ll be able to’t be an NFL player and drive a standard car like a Honda Civic. You have to drive an expensive Hummer, Cadillac Escapade, BMW, Mercedes, Porsche, etc.
You additionally should have a huge costly house. All the opposite players do and for those who just live in a median house, they look down at you. So, we spend a fortune buying huge houses for ourselves and for our dad and mom that we do not need. And of course there may be the jewelry. We spend so much money on jewelry it is insane. It is nothing for a player to spend $one hundred,000 a 12 months or more buying jewelry, and that’s just for us. That does not embody all of the jewelry we buy for our family, wives, and girlfriends. It’s all extremely irresponsible. But, when you’ve so many individuals putting pressure on you each day to purchase things and keep up with the other NFL players, it turns into a lot easier to say sure than to say no, whilst you’re watching all your cash disappear.
Another problem is as a wealthy NFL player, you might be anticipated to flip the bill for everything. Whenever you go out to restaurant, you’re the one that pays for eachbody. And, if you go out with other players or your buddies, it is always to a fancy club the place we go to the VIP section and spend hundreds of dollars on fancy champagne and drinks–for everybody. I’ve known players who’ve spent over $25,000 in a single night time at a club. And then they go and do it again and again to allow them to 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 girls are gold diggers. If we were not rich athletes these stunning women would probably not look twice at us. However now that we’re rich and well known, ladies chase us constantly. This nearly always leads to us marrying a lady we shouldn’t marry after which getting divorced after a couple of years and dropping a large share of our money within the divorce. I made this mistake myself and it value me dearly and still costs me.
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