As an aspiring professional athlete,* one of my favorite kinds of stories is the kind of story about professional athletes who do amazing things with all their professional athlete money. Amazing things like completely ignoring it.
Last year, my favorite story was about Daniel Norris, an MLB (that’s baseball, goofball) pitcher who lives in a van. A van!
This year, hands down, the best thing to come out of the NFL (football!) is from my neck of the woods, now retired and truly FIREd** Seahawk Marshawn Lynch. Apparently he never spent any of his NFL salary and instead lived off side gigs like product endorsements and saved money through standard frugal favorites like avoiding fines by performing at press conferences.
So now he’s retiring at age 29 with a cool $50 million in the bank. Assuming a conservative 4% withdrawal rate, that leaves him $2 million per year to live on without ever touching his principal or earning another penny. That’s a lot of Skittles!
I’m hoping to do something similar, though maybe on a smaller scale (?). Just as soon as my product endorsement checks start rolling in . . .
*I am not an aspiring professional athlete.
**FIRE = Financially Independent / Retired Early. Not “fired” as in terminated from employment. Duh. Nobody would fire Marshawn! Sad to see him go, but I support his decision 12,000% and wish him nothing but the best. And I really hope he reads this post.