VIDEO: Rob Gronkowski Talks Finances, How He Manages Money As Professional Athlete

[PatsFans.com Article]

VIDEO: Rob Gronkowski Talks Finances, How He Manages Money As Professional Athlete

Robert Alvarez

Rob Gronkowski sits down to talk finances with Uninterrupted's Kneading Dough web series.

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[DarrylS]

Gronk has been labeled a lot of things by different people, but obviously he is much smarter with his financial affairs than most folks give him credit for.. he may never be "Bradyesque" with his net worth, but will do better than most..

 

[wizwor]

Clean too! He's doing Tide Pod commercials. Smart enough to put the pod in the washer. Pretty impressed.

 

[RobertWeathers]

Shaq did a symposium for NBA rookies that made it simple for them to manage their money.

He basically said 1/2 of your contract goes to to taxes, agents and family that you want to help so forget about that.

The remaining 1/2 is your real paycheck. He recommended 1/2 of that goes to retirement and the other 1/2 is the houses, cars and bling.

 

[chasa]

Shaq did a symposium for NBA rookies that made it simple for them to manage their money.

He basically said 1/2 of your contract goes to to taxes, agents and family that you want to help so forget about that.

The remaining 1/2 is your real paycheck. He recommended 1/2 of that goes to retirement and the other 1/2 is the houses, cars and bling.

And 1/2 of this is terrible advice.

 

[RobertWeathers]

And 1/2 of this is terrible advice.

How so?

 

[chasa]

How so?

spending 1/4(1/2 of 1/2) of your paycheck on houses/cars/bling puts you into the same situation that drew brees is in, having to sue a jeweler because the value of the "bling" went down.

Better advice would be to tell them that you don't need fancy necklaces, you don't need a fancy sports car, and you would be better off investing that money into a business that will bring more money in, even after your career is over.

 

[RobertWeathers]

spending 1/4(1/2 of 1/2) of your paycheck on houses/cars/bling puts you into the same situation that drew brees is in, having to sue a jeweler because the value of the "bling" went down.

Better advice would be to tell them that you don't need fancy necklaces, you don't need a fancy sports car, and you would be better off investing that money into a business that will bring more money in, even after your career is over.

Agree 100%

He was just trying to keep it basic for these guys as most didn't grow up like you and I and are educated on how to budget, save for retirement, invest, etc.

 

[ivanvamp]

It's really not that hard to manage money wisely. Yet for so many people, it seems...incomprehensibly difficult.

 

[PatsWickedPissah]

If players really followed Shaq's advice they'd be in good shape post career. Yes, even just 25% put away would be a good #, especially for NBA players.

 

[n1997y]

If players really followed Shaq's advice they'd be in good shape post career. Yes, even just 25% put away would be a good #, especially for NBA players.

Disagree, because they're teaching themselves to spend that same amount every year. So when their playing days are over their spend rate will be much higher than their assets can support.