Everyone has heard about athletic superstars who go bankrupt.
Though athletes make crazy amounts of money, their careers don't last forever, so if they don't responsibly spend and invest that money, they could (and often do) run into financial troubles after retirement.
But Ryan Broyles, a wide receiver for the Detroit Lions, is hoping to escape that fate.
"He knew NFL players, and athletes in general, go bankrupt," ESPN's Michael Rothstein writes. "He saw athletes blow through millions. He was determined not to have that happen to him."
Though Broyles signed a contract worth over $3.6 million — with over $1.4 million of that guaranteed — he decided to support his family on an annual budget of $60,000.
The rest of that money, he says, is going into investments and retirement savings to secure his post-football future. Broyles declined to give ESPN specifics about his investments.
"Whatever comes, it's just a blessing," Broyles told ESPN. "But I got the mindset of a businessman off the field, I'll tell you that.
"The pressure I put on myself is just being the best player I am," Broyles added. "I would never play [just] for money, you know what I mean — that's not my intentions whatsoever."
The wide receiver says he checks his investments daily using a mobile app and takes advantages of everything to increase his savings, including the NFL's matching 401(k) plan. He even traveled to Washington, D.C., in March with New Orleans running back Mark Ingram to speak with students about financial planning.
Check out the full story at ESPN.
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