Top 10 Athletes When It Comes to Managing Money
These 10 money savvy individuals have defied the statistics about professional athletes and their finances. In their own ways, these athletes have found ways to save, plan for the future, and encourage financial literacy for athletes at all stages and beyond. Their passion for responsibly managing their own money has led them to be mentors for younger athletes and take on various projects to teach insights into finance.
Brandon Copeland: When he isn’t playing as an outside linebacker in the NFL, Brandon Copeland is teaching a financial literacy class at the University of Pennsylvania. As a Wharton graduate, he is a multi-faceted talent who introduced the idea for this class to help students of every discipline become more financially prepared for the future. He practices what he teaches to students by saving about 90% of his earnings from the NFL, with 60% being invested.
Rob Gronkowski: The star tight-end for the Patriots, and now the Super-Bowl bound Tampa Bay Buccaneers has been known for his money- smarts. As revealed in his 2015 book, It’s Good to Be Gronk, he saved all of his NFL salary for the first eight seasons of his career. He chose to live off of endorsement deals until he felt his position in the NFL was stable. Even still, he has maintained his frugal mentality to be smart with his money, and advises younger players to do the same.
Amobi Okugo: At just 29, Amobi Okugo has played 10 years of professional soccer, founded A Frugal Athlete to help athletes manage their finances, and started the Ok U Go foundation that supports disadvantaged children through financial, educational, and athletic programs. Named to Forbes’ 2021 30 Under 30 in Sports, Okugo has demonstrated the various avenues to build a brand beyond sports.
Glover Quin: Retiring from the NFL after his 2018 season, Glover Quin is now able to reap the benefits of his savings plan. After 10 seasons in the NFL, Quin lived comfortably off of 30% of his salary, investing the remaining 70%. In 2016, he more than doubled his money. His financial savviness has set him and his family for his next stage of retirement.
Bart Scott: The former NFL linebacker has taken extra steps to help athlete’s become more financially literate. Partnering forces with Morgan Stanley, Bart Scott is an advocate of Edyoucore, which offers advising and educational opportunities to student and professional athletes to help them become more financially responsible.
Chiney Ogwumike: Named one of Forbes’ 2021 30 Under 30 in Sports, the Los Angeles Sparks forward has created a significant personal brand. Chiney Ogwumike, a two-time WNBA All-Star, has built a business that spans across several domains: broadcast, endorsement, and advocacy. Her new role as a co-host on Chiney and Golic Jr., is breaking barriers and expanding her portfolio.
Marshawn Lynch: This five-time Pro Bowler and Super Bowl Champion had a lucrative career in the NFL. Marshawn Lynch is also known for his financial strategies, which have left him with much of his NFL salary still in the bank to support his recent retirement from the league.
Anya Packer: A former defender for the Connecticut Whales, Anya Packer has continued her career as the Executive Director for the NWHL Players Association. She recently helped to increase the salary cap by 50% and negotiated a 50-50 revenue split with the league to increase each player’s salary by almost 30%. Her work to help professional women hockey players earned her a spot on the Forbes’ 2021 30 Under 30 in Sports.
Thaddeus Young: A current player for the Bulls, Thaddeus Young also founded the investment firm Reform Ventures. This outlet let him explore his interest in investing, helping him learn about risk mitigation and contributing to his impressive portfolio. He encourages all professional athletes to ask the tough questions when managing their money.
Daniel Norris: A current MLB pitcher for the Detroit Tigers, Daniel Norris was immediately conservative with his money when he entered the league at a young age. Living in a camper in the off-season, sticking to a strict monthly budget, and putting the rest of his money in conservative investments, Norris’ money-saving habits are aimed at prolonging his earnings into the future.
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