What is the difference between the NFL players who saved the most versus those who made the most? The “Nightcap” podcast says it is about being low-key rich.
Money Philosophies
Shannon Sharpe and Chad “Ochocinco” Johnson pointed to themselves on their Nov. 24 podcast as examples of NFL players who saved their money.
Johnson, indeed, has promoted himself as one of the cheapest players to have played in the league, with him admitting to sleeping inside the stadium over hotels, eating McDonald’s over quality food, and talking about flying with the infamous Spirit airline and wearing clothes from H&M.
Johnson did not shy away from acknowledging his thrifty habits, saying, “A lot of people laugh at me and they still do today…they don’t understand the method to the madness; I’ve got old, old, old, old money, I just never wear it. Most people wear their money. They’ll never know I have any money unless they look at my wrist.”
Sharpe also claims to be frugal, as Finurah reported. However, he does agree that real wealth comes from saving money, saying “You ain’t gonna know I ain’t got money, but they’re signs.”
The segment ends with both men not wanting people to get the impression they’re broke and that they wanted to buy something nice for Christmas.
While some NFL players can earn millions, personal finance and making smart decisions are sometimes a challenge.
Retired NFL running back Adrian Peterson, for example, finds himself owing $12 million in Houston after his lavish spending came back to haunt him.
Around 78 percent of former NFL players and 60 percent of former NBA players experience bankruptcy or financial distress within a few years of retiring, according to Vermillion Financial.
Some players, such as Rob Gronkowski, despite being a high-profile celebrity, saved his NFL money, relying mostly on his endorsements for his expenditures, according to The Sportster.
Former cornerback Richard Sherman is another example of a player who saved his salary, claiming to have saved 60 percent of his paychecks, according to an interview he had with Money.