(OT) Lions WR Ryan Broyles lives on $60K/year
"Lions wide receiver Ryan Broyles signed a contract with more than a million in guaranteed money, but his annual budget reflects one of a much smaller salary: $60,000 a year between him and his wife."
Source: USAToday.com, 8/10/15 [Nina Mandell]
http://ftw.usatoday.com/2015/08/lions-wide-receiver-ryan-broyles-lives-on-budget-of-60000-a-year
August 10th, 2015 at 7:45 PM ^
I've counseled too many married couples that make enough money to be in a better situation financially but did not set a budget and argue all the time about not having enough money.
If Broyles is actually following through with that budget, he should go into counseling those that make 1.5 mil per game.
August 10th, 2015 at 7:46 PM ^
Sent from MGoBlog HD for iPhone & iPad
August 10th, 2015 at 8:09 PM ^
The biggest takeaway for me was the amount of guys who trust one person to handle everything.
The temptations are easy to see, but hiring qualified people who aren't in bed with each other would have averted so much of the fraud and outright theft the players were talking about.
August 10th, 2015 at 7:50 PM ^
August 10th, 2015 at 7:53 PM ^
Also considering he's got a history with injuries, this is an even smarter decision.
Sent from MGoBlog HD for iPhone & iPad
August 10th, 2015 at 8:02 PM ^
Does anyone know if the NFLPA does anything in the way of financial planning support for players? Given how many go bankrupt, it seems like having a couple classes and really drilling the basic principles of financial literacy could go a long way. (And I'm not saying that NFL players are dumb or anything--most 22 year olds are. They just have way more financial potential to screw up than average Joe out of college. )
August 10th, 2015 at 8:10 PM ^
Sent from MGoBlog HD for iPhone & iPad
August 10th, 2015 at 8:42 PM ^
Sent from MGoBlog HD for iPhone & iPad
August 10th, 2015 at 9:13 PM ^
Actually, at the behest of the players, there is a Financial Advisor Registration Program which the union and league have a hand in administering. Basically, they will screen and register advisors in a database with relevant information - services provided, service territory, etc... - and make those listings available to players on a site internal to the NFLPA. Those advisors also receive continuing education on the ins and outs of typical pay structures and contract incentives to better plan for individuals.
It's not perfect - there's an SEC no-action letter so it isn't regulated at that level, but there are requirements and the applicants for the database are checked out.
August 11th, 2015 at 10:38 AM ^
does any formal education do this? You're also assuming that many of the guys in the NFLPA can keep up with this info. These guys aren't the brightest.
August 10th, 2015 at 8:08 PM ^
Sent from MGoBlog HD for iPhone & iPad
August 10th, 2015 at 8:13 PM ^
August 11th, 2015 at 9:56 AM ^
I knew a guy who lived 2 houses away from Barry Sanders in Rochester Hills. House in a medium-old sub was worth tops $200K. The back of his place abutted a main road and he had almost no landscaping either.
It depends on what's important to you, i.e. wants v. needs.
August 10th, 2015 at 8:20 PM ^
I'd like to know Josh Smith's thoughts on this.
August 10th, 2015 at 8:39 PM ^
August 10th, 2015 at 8:47 PM ^
Great to see this. Thank you for sharing!
August 10th, 2015 at 10:26 PM ^
It's a safe, well made car with hardened steel body panels, very safe and unlike a specialized german car (pricey to repair) a lexus you can take into walmart and have the oil changed, it's a fancied up toyota with great resale value and if you buy a newer used one, a great economic decision.
August 11th, 2015 at 1:59 AM ^
August 10th, 2015 at 8:53 PM ^
Good for him. He must be a regular listener of the Dave Ramsey Show.
August 10th, 2015 at 8:53 PM ^
Good for him. He must be a regular listener of the Dave Ramsey Show.
August 10th, 2015 at 8:56 PM ^
Good for him, even Mr. Money Mustache would be impressed with that savings rate.
August 10th, 2015 at 9:36 PM ^
August 11th, 2015 at 12:42 AM ^
Sent from MGoBlog HD for iPhone & iPad
August 10th, 2015 at 9:49 PM ^
August 10th, 2015 at 10:03 PM ^
Guy has like 10 catches total the last two seasons, he shouldn't be making anymore than 60k to begin with.
August 10th, 2015 at 11:12 PM ^
August 10th, 2015 at 10:24 PM ^
. I think he should go on red meat/beef fat diet to help strenghen those spindly ligaments. Chicken and Fish won't do it, he needs beef gelatin.
August 10th, 2015 at 10:29 PM ^
Sent from MGoBlog HD for iPhone & iPad
August 10th, 2015 at 10:46 PM ^
don't see the end coming and don't realize that reality is incredibly harsh. He may not be making much of an impact on the field, but he is being smart with his money. Very few players are like that.
August 11th, 2015 at 12:11 AM ^
Sent from MGoBlog HD for iPhone & iPad
August 11th, 2015 at 6:54 AM ^
During this time of year before his first season our laundry washing machine broke and so we had to buy a new one. Well the wife was not going to have unmatching washer and dryer. So we had a dryer that worked but we had no use for. Through a mutual friend Broyles accepted it. He gave me tickets to a preseason game as a thank you. I was at his house. It's a decent house in Canton but nothing too fancy.
Sent from MGoBlog HD for iPhone & iPad
August 11th, 2015 at 7:39 AM ^