Blake Martinez

Heyjoe4

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Super....now do that on a person making around $50k-80K per year. We should then talk about how their savings can be lost too.

Sorry, but I just find it comical that people wring their hands over an NFL player not being paid enough, because "x and y could happen to him". I don't feel sorry for any person that makes millions in the NFL and then can't retire quite comfortably on it, at the age of fricking 28.

I also don't feel sorry for players who don't make it beyond a tryout contract, an UDFA, a 7th round pick that gets cut, etc. You made a good run at a profession, didn't make it, now go find something to do, that supports you and your family.
I agree with you 100%. I was a financial advisor and would get frustrated to see young people throw away their money and make bad use of credit cards. They would find themselves hopelessly stuck with a lot of very expensive debt.

I advised them to never use a credit card without the money in the bank to pay it off in full every month.

It doesn't really take a lot to become a millionaire with a decent paying job and the discipline to save and to invest wisely (or, back in the day, to hire me). Most people should be able to retire in their 50s.

You'd be amazed at what investing over time on a regular basis (technically, it's called dollar cost averaging) adds up to in 30 years.

Anyway, back to the topic. Yeah the guys who even get to try out for an NFL team are very fortunate. And given the ravages of CTE, maybe they're better off using their degree, or finishing their degree, and getting a decent, non-contact job.
 

Pokerbrat2000

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I agree with you 100%. I was a financial advisor and would get frustrated to see young people throw away their money and make bad use of credit cards. They would find themselves hopelessly stuck with a lot of very expensive debt.
Yup and that was the point I was trying to make. Whether you make $5 M in a year or $50 K, it comes down to how you handle your money. I can think of investments and expenses, that could sink either of those salaries very quickly. Maybe going from college, where you may not even have a paying job and making millions, is a bigger change than making thousands, but it is just different economies of scale.

I remember reading an article about Jordy Nelson after he retired. The guy went back to farming in Kansas and modest living. Guessing the guy has most of the money he made in the NFL, tucked away and safe for more than a few lifetimes.
 

Heyjoe4

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Yup and that was the point I was trying to make. Whether you make $5 M in a year or $50 K, it comes down to how you handle your money. I can think of investments and expenses, that could sink either of those salaries very quickly. Maybe going from college, where you may not even have a paying job and making millions, is a bigger change than making thousands, but it is just different economies of scale.

I remember reading an article about Jordy Nelson after he retired. The guy went back to farming in Kansas and modest living. Guessing the guy has most of the money he made in the NFL, tucked away and safe for more than a few lifetimes.
Jordy is the perfect example of the millionaire next door and no one knows he's a millionaire. Well, he's a multi-millionaire.
 

Pokerbrat2000

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