Ryan Broyles grabs his cell phone every morning over breakfast fort family investments jacksonville pores over the latest transactions. What the Detroit Lions wide receiver is looking at, though, has nothing to do with football.
In the past three-plus years, Broyles has become immersed in the financial world. His planning throughout his career allowed him to make a lot of investments. P 500 has “been sideways” most of the year, he has good reason. It all started after a meeting with a financial adviser soon after being drafted in 2012. The adviser gave Broyles some advice he used to shape his life: Spend as you would like over the next few months. Then set a budget, live within it and invest the rest.
6 million after being taken in the second round. But Broyles knew the other statistics — ones reinforced when he went to the rookie symposium. He knew NFL players, and athletes in general, go bankrupt. He saw athletes blow through millions. He was determined not to have that happen to him.
He came up with a budget. 60,000 a year, “give or take,” throughout his career. Everything else has gone to investments, retirement savings and securing Broyles’ post-football monetary future. Broyles wanted to make sure his NFL career, however long it lasts, really did set him up for life. Then you know how much you can invest, how risky you can be,” Broyles said, as he enters the last year of his rookie contract with no guarantee he’ll make the Lions’ roster. Then, when I was hitting the same budget over three, four, five months, it was all right, this is what your budget is and I had some spending money. I didn’t hold myself back at all on those terms.
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 has no problem driving a red Ford Focus rental car during training camp this year. It’s why he and his wife drive Mazdas — he recently bought a new one — and he still has his 2005 Chevrolet Trailblazer from college.