One of the questions people always ask me about being an NFL player is, “what is it like making a lot money at such a young age?”
I have to say that it may be very difficult to go from being young and having no cash to being younger and a millionaire because you do not know methods 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 will not be that a lot totally different with professional sports players. The reason for this is most professional athletes, and lottery winners, were by no means taught cash management skills. Going from being broke sooner or later to being a millionaire the following day is a big change in your life, principally because after you have cash, eachbody wants you to give 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 am also African American and my household did not have some huge cash, which can be quite common amongst NFL players. Because of this, I was never taught the best way to manage money responsibly and plan for my future. I went from being broke someday to being drafted into the NFL and becoming a millionaire.
A huge problem with being young and having a lot of money is the pressure by just about everybody including fellow players to spend a lot of money very quickly. If you find yourself rich, everybody desires your money, especially your family and friends. My mom, aunts, uncles, cousins, friends, etc. all needed to borrow money from me. And naturally I gave it to them. Then, you’ve gotten girlfriends and wives who need you to purchase them numerous costly presents like automobiles, jewelry and clothes because you’re rich and 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.
But probably the worst of all is the opposite players because when it involves money it is the blind leading the blind. We all spend our cash as if it will by no means run out because we are uneducated in monetary responsibility. For example, for you to be cool and respected by the other players, you need to keep up with them. So, if one player buys a new SUV, you need to purchase one too. I imply, you possibly can’t be an NFL player and drive a traditional car like a Honda Civic. It’s a must to drive an expensive Hummer, Cadillac Escapade, BMW, Mercedes, Porsche, etc.
You also need to have an enormous expensive house. All the other players do and in the event you just live in a median house, they look down at you. So, we lay our a fortune buying large houses for ourselves and for our mother and father that we don’t need. And of course there is the jewelry. We spend so much cash on jewelry it is insane. It is nothing for a player to spend $100,000 a 12 months or more shopping for jewelry, and that is just for us. That does not embrace all the jewelry we purchase for our family, wives, and girlfriends. It is all extraordinarily irresponsible. But, when you have so many people putting pressure on you day-after-day to buy things and keep up with the opposite NFL players, it becomes a lot easier to say yes than to say no, at the same time as you’re watching your entire cash disappear.
One other problem is as a rich NFL player, you are anticipated to flip the bill for everything. Whenever you go out to restaurant, you’re the one that pays for everybody. And, whenever you exit with other players or your buddies, it is always to a flowery club where we go to the VIP section and spend 1000’s of dollars on fancy champagne and drinks–for everybody. I’ve known players who’ve spent over $25,000 in one night at a club. After which they go and do it again and again to allow them to be the “big man.”
One other problem NFL players have is ladies who’re after us for our cash and our status. And many of those women are gold diggers. If we were not rich athletes these beautiful girls would probably not look twice at us. But now that we’re rich and well known, girls 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 shedding a big share of our money in the divorce. I made this mistake myself and it cost me dearly and still prices me.
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