Plenty of players who make plenty of money in the NFL don’t spend it. They invest it. But that too can end up in the money decreasing in value if not disappearing.
“You hear invest, invest, invest, but you really don’t know what that means,” Saints safety Malcolm Jenkins recently told CNBC.
He said he made poor investments early in his career, and that but for his longevity he may not have recovered from the moves he made.
“The harsh reality I had is that I would be broke probably in five or 10 years,” Jenkins said as to the conclusion he drew near the end of his rookie contract. “So for me, it’s been a journey to learn how to not only save your money, how to plan, how to budget but also how to grow your money. . . . Lucky for me. I’ve been in this league long enough where I’ve been able to make enough money to withstand the mistakes that I’ve made.”