NFL’s Ryan Broyles: A Million-Dollar Man Living on $60,000 Budget

Detroit Lions wide receiver advocating for financial fitness for peers and youth

(Image: File)

There have been many stories of NFL players earning millions at the height of their careers only to end up broke and bankrupt. ESPN reports that Ryan Broyles of the Detroit Lions seeks to change this pattern with a strategy some of his peers may see as quite radical.

When drafted in 2012, Broyles signed a contract worth more than $3.6 million, (and more than $1.4 million guaranteed). He decided he’d immediately make some smart financial choices after meeting with a financial adviser and getting advice that changed his outlook on his newfound wealth: First, spend as you wish, determine your means, then set a budget, live within it and invest the rest. He and his wife did just that to ensure their financial future after his NFL is over. They’ve set a budget at $60,000 a year, and allot the rest of his salary to investments and retirement savings.

“I didn’t hold myself back at all on those terms,” he told ESPN. “That’s what I tell people when they want to start to invest, I tell them to live your life and see where you stand and then pull back. Don’t pull back without even knowing.”

He drove a red Ford Focus rental car during training camp this year, and he and his wife now drive Mazdas for daily transportation. He also speaks to youth about financial fitness and the importance of saving and has worked with the NFL and Visa to promote a video game aimed at teaching financial responsibility to teens.  “Whatever comes, it’s just a blessing, but I got the mindset of a businessman off the field, I’ll tell you that.”

 

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19 Responses to NFL’s Ryan Broyles: A Million-Dollar Man Living on $60,000 Budget

  1. Pingback: NFL’s Ryan Broyles: A Million-Dollar Man Living on $60,000 Budget | Black News Post

  2. Pingback: NFL’s Ryan Broyles: A Million-Dollar Man Living on $60,000 Budget | Blackpride.in

  3. Whit DuBois says:

    Now that is a smart man right there! Hopefully he is spending a little of that money with some minority-owned businesses! http://www.mccabemarket.com

  4. Brian B. says:

    Very smart guy. Invest as much as you can, let it ride, and take a look at what you will have in 15, 20 years. It will put a smile on your face.

  5. Brian B. says:

    Very smart guy. Invest as much as you can, let it ride, and take a look at what you will have in 15, 20 years. It will put a smile on your face.

  6. Brian B. says:

    Very smart guy. Invest as much as you can, let it ride, and take a look at what you will have in 15, 20 years. It will put a smile on your face.

  7. annashun1 says:

    I hope he spreads the knowledge, which is true wealth. Financial freedom is the truest freedom there is

  8. sheikwil says:

    Bravo young man. He will have money to fall back on when he retires or if something happen

  9. Willie Hucks says:

    Thank you for such a positive story that counteracts what we usually hear!

  10. Willie Hucks says:

    Thank you for such a positive story that counteracts what we usually hear!

  11. devre gati says:

    Good job! Hope you encourage others to save as well. A penny saved is a penny earned.

  12. Tony says:

    Smart guy indeed….smart enough to marry a women that’s with the program. Rare find

  13. Hbcu Kidz says:

    Very smart! “Begin with the END in mind!’

  14. Pingback: NFL’s Ryan Broyles: A Million-Dollar Man Living on $60,000 Budget | BlackinAmerica.News

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