Marshawn Lynch’s Wealth Secrets: Turning NFL Advice Into Financial Gain

Despite earning high incomes during their careers, up to 78% (ouch) experience financial distress or bankruptcy within two years of leaving the league.

Contributing factors include the average career length of roughly 3.3 years, extravagant spending habits, lack of financial education, poor investment decisions, and the high cost of healthcare for injuries sustained during play.

While these challenges are prevalent, they don’t affect all former players. And one of these players is former running back Marshawn Lynch.

He decided to take has a different approach as I saw on a recent interview where he shared his personal experience with financial advisors and observations of young NFL players’ spending habits.

Let’s break down his interview and discuss what he’s done to stand out and make a difference.

Importance of Financial Wisdom in the NFL

Former NFL player Marshawn Lynch, who retired in 2019, emphasized the significance of financial wisdom in the league. Lynch stated that he learned the importance of saving money early in his career after seeing many of his peers go bankrupt despite earning significant sums of money.

Advice to young players

Lynch advises young players to save their money and invest it wisely (which is what most people should do anyway, no matter their income). He suggests avoiding overspending on material possessions such as designer clothes and expensive cars.

Instead, he encourages them to invest in assets that appreciate, such as real estate. This really impressed me that he was smart enough to not only seek this advice early in his career, but also take action and implement it.

Most dentists and doctors never figure this out (passive income), which makes them have to work long after they should have retired. 

Real estate syndications

Speaking of real estate, here’s my personal favorite type:

Personal Experience with Financial Advisors

Throughout his career, Lynch had several encounters with financial advisors that shaped his perspective on managing money.

He recalls when he first came into the league, and a financial advisor presented a list of bankrupt former NFL players who were once considered wealthy (many were those he looked up to as being the best in the game).

This experience made him realize the importance of being financially responsible and taking care of his money.

Wake up call

One day, Lynch overheard young players in the locker room bragging about their expensive possessions, such as Yeezy shoes, and realized that they were blowing their money. He knew he had to take control of his finances or end up like them.

Luckily, he was fortunate to have had the guidance of veteran players, who helped him understand the value of saving money. He also learned about managing finances from their families family, who had their own financial advisor.

Despite his initial lack of knowledge on managing money, the speaker developed a mindset (money mindset) of saving for a rainy day and seeking advice. 

Investments and Financial Security

To ensure his own financial security, Lynch has invested heavily in various ventures, including real estate and his own restaurant. He also saved a significant portion of his contract earnings and only spent money on necessary expenses and occasional luxury items like cars and endorsements.

He became known as a mentor to younger players and emphasized the importance of preparing for the future rather than focusing solely on material possessions.

Your Next Steps

Most high-income professionals can work much longer (~3.3 years) than the average NFL player. This is good, but it also can be bad.

It’s good due to the potential of a long career, but it’s not good in that if someone loses their ability to work (trade time for money), most don’t have enough other income sources to continue their lifestyle.

What about your situation? Have you ever thought about how you’d continue providing for your family if you weren’t able to work? Do you rely on ONE income stream or multiple?

If you’re not sure what the best route to take, then it’s time to take control of your finances and learn about using passive income to replace your expenses.

Check out this video regarding investment advice I wish I’d known early in my career:

---

---