Take an inside look at this top NFL player’s portfolio

About this video

• Video Title: Take an inside look at this top NFL player’s portfolio
• Channel: Fox Business Clips
• Speakers: Brian, Jackie, David, Dagen
• Duration: 00:05:33

Overview

This video discusses NFL player Saquon Barkley's investment strategy and contrasts it with the financial struggles many athletes face after retirement. It highlights the importance of financial literacy and long-term planning for athletes, while also touching on the financial realities of professional sports.

Key takeaways

• Saquon Barkley's Investment Approach: Barkley is reportedly investing millions into tech and AI startups, with a combined valuation of $250 billion, and also diversified into Bitcoin and the S&P 500, living off endorsements.
• Financial Challenges for NFL Players: A significant percentage of NFL players face financial difficulties within two years of retirement, and many struggle with short-term financial thinking.
• Importance of Financial Literacy: Financial literacy is presented as the key to financial freedom, with advice on managing daily expenses, investing, and avoiding inflation.
• Broader NFL Financial Landscape: While most players don't earn Saquon Barkley's salary, the median income for top earners is substantial ($800,000/year), yet many still struggle financially.
• Athlete's Responsibility: The video suggests that athletes need to take personal responsibility for their financial future, with mentors and teams offering support but not replacing individual decision-making.
• Avoiding Financial Pitfalls: Advice is given to avoid lending money to family as gifts that are unlikely to be repaid and to be cautious of "entertainment tax" and state-specific taxes.
• Long-Term Mentality: Developing a long-term financial mentality is crucial, as opposed to a short-term spending focus.