Giants running back Saquon Barkley doesn’t intend to spend his football income

AP

Even though Saquon Barkley has yet to sign a contract with the Giants, the No. 2 overall pick in the 2018 NFL Draft is set to make somewhere around $31-32 million over the life of his rookie deal in New York.

But if Barkley can stick to his plan, he doesn’t intend to spend any of that money once he signs his deal.

According to Jordan Raanan of ESPN.com, Barkley said he plans to invest his football-related revenue and use his endorsement money as his functional financial support.

“That’s the goal,” Barkley said. “Not to touch it.”

Barkley already has the best-selling jersey in the NFL and has endorsement deals already set up with Nike, Pepsi and Panini America. He’s managed to buy a house for his parents despite still waiting on the signing bonus from his rookie contract.

Barkley plans to follow the script of Oakland Raiders running back Marshawn Lynch, who has reportedly been similarly frugal with his money earned during his career.

“Once I realized when I declared for the NFL draft and kind of realized where I was going to be drafted, that was something I was like, ‘You know what? Kind of want to follow the Marshawn Lynch method. I don’t want to touch that. I want to invest it, put it in the right peoples’ hands and learn as I continue to make investments. And just live off the endorsement deals,'” Barkley said

40 responses to “Giants running back Saquon Barkley doesn’t intend to spend his football income

  1. Smart. I certainly hope that he has the support system to be able to follow through with that plan.

  2. He’s taking a page out of Gronk’s book. That dude only spends his endorsement money and lives like a rockstar.

  3. Very smart kid. Wealth is built over the long term by never touching the principal. The Giants got a good player and it seems like he has his priorities straight. So many NFL players waste their money over their careers. Over 70% of NFL players have to declare bankruptcy after their playing days are over. Either they overspend, or they trusted the wrong people with their money.

  4. Good luck to him- maybe he can #13 same tips on acting like a grown up.

    if he can live up to the hype in NY he’ll live quite nicely off his endorsements.

  5. Great idea. In fact, why not invest half of your endorsement deals as well. Its more than “more than enough” to live on. You worked hard for that cheddar. Take a lesson from those who’ve gone ahead of you and spend less and save more.

  6. Trust no one. Money men make money from you not for you. 30 mil @ 2.5% CDs is 750K a year. I’m sure there are other options but inflation is not a worry for me at this point. It should be for you.

    Get a good accountant to write off everything possible. Your parents home should have been in a LLC company and employed by you. Write offs.

    Research it yourself then decide. Don’t listen to friends of friends etc. Good accountant. Not hard to find. Never give power of attorney not let anyone invest a penny without your signature.

    Good luck

  7. Smart move if you make it Saquan
    Hope you do & stick with it Man
    Then don’t invest in haste nor waste

  8. When Drew Brees calls about some diamond investments I hope he jukes and spins out of that call like he does LBs on the field.

  9. Diversafcation is the key to grow assets. Also do NOT put your money in the hands of one broker. There R some greedy ones out there that think they can out smart the market.

  10. backintheday99 says:

    Trust no one. Money men make money from you not for you. 30 mil @ 2.5% CDs is 750K a year.
    ###

    I give my financial planner a fraction of a percent to manage my funds.

    I gladly pay that because I average over 10% on my money. Last year it was over 20%.

    Why settle for $750,000 when you could be earning $3,000,000 a year – with reasonable safety?

    There are lots of quality mutual funds out there that have a 5/10/20 year average exceeding 10%.

    Usually when people attempt to make a “killing” in the stock market – it’s their wallet that gets killed.

  11. Sounds like a smart guy. I hate the the Giants got him. Would have been nice to see him stay in state…but his measurable are astounding.

    I hope he isn’t the next AP, because it would pain me greatly to play against that for 10-12 years.

    Best of luck to what sounds to be a nice young man. Just not against the Eagles.

  12. put it in the right people’s hands…..got it. So basically he’ll be investing in llama farms, “real estate deals”, mind numbingingly idiotic business ideas, etc. Dude, it’s 20 million dollars after tax. You don’t need it to grow at 15% you already have it……

  13. The Marshawn method is important, especially with how much money Marshawn invests into his Oakland community. Hopefully, Barkley follows that path with the Bronx. Kind of hilarious how many people skipped over what Marshawn has done and went out of their way to mention Gronk.

  14. Its easy not to spend your paycheck when you make a lot of endorsement money.
    For lower drafted players they don’t have an alternative.
    What Barkley is doing is smart, but it’s not like all players have that option.
    Then again, many players blow all their money.

  15. How could you not love this guy. He’s going to be the football equivalent of LeBron James!

  16. rparrott4 says:
    June 29, 2018 at 12:12 am
    He’s taking a page out of Gronk’s book. That dude only spends his endorsement money and lives like a rockstar.
    ———–

    No, this has nothing to do with “Gronk” OR THE PATRIOTS.

    He told you whose book he was taking a page from. BEAST MODE’S. Not Gronk.

  17. nard100 says:
    June 29, 2018 at 9:41 am
    How could you not love this guy. He’s going to be the football equivalent of LeBron James!
    ———

    Bad comparison. Stephen Curry is more apt if you’re really going THERE.

  18. rageviral says:
    June 29, 2018 at 12:54 am
    Wise young man. Shame there isn’t more of them in the league.
    ———-

    There are tons. You’ve just been duped into believing the few who frivolously blow through their money represent the majority when — despite all the “so many end up broke inside five years” line — they are OUTLIERS.

  19. This story is a bit odd. He’s saying he’s not going to spend his football income yet he just bought a house for his parents even though he hasn’t even signed an NFL contract yet. Does that mean he used endorsement money to do that or is he already spending his football money even though he hasn’t gotten any football money yet?

  20. whenwilliteverend says:
    June 29, 2018 at 10:59 am
    This story is a bit odd. He’s saying he’s not going to spend his football income yet he just bought a house for his parents even though he hasn’t even signed an NFL contract yet. Does that mean he used endorsement money to do that or is he already spending his football money even though he hasn’t gotten any football money yet?
    ——-

    Good God, man…

  21. gtodriver says:
    June 29, 2018 at 7:45 am
    backintheday99 says:

    Trust no one. Money men make money from you not for you. 30 mil @ 2.5% CDs is 750K a year.
    ###

    I give my financial planner a fraction of a percent to manage my funds.

    I gladly pay that because I average over 10% on my money. Last year it was over 20%.

    Why settle for $750,000 when you could be earning $3,000,000 a year – with reasonable safety?

    There are lots of quality mutual funds out there that have a 5/10/20 year average exceeding 10%.

    Usually when people attempt to make a “killing” in the stock market – it’s their wallet that gets killed

    ================

    I said there are probably better ways. I was talking the safest way. BTW only people I ever heard of that make 10 to 20% were Madoff customers. It’s impossible.

    PS: I DID make a killing in the stock market. On my own, sort of: IBM. Intel and Microsoft because my dad knew it was coming so I pounced early. Got out of all it in ’98 to buy a couple of houses as they were giving them away in those years. Double luck. Never looked back, haven’t had a mortgage since and the other pays the taxes plus…

  22. backintheday99 says:

    I said there are probably better ways. I was talking the safest way. BTW only people I ever heard of that make 10 to 20% were Madoff customers. It’s impossible.
    ####

    The AVERAGE return for the S&P 500 for the following 30 year periods:

    1926-1956: +10.77%
    1956-1986: +9.63%
    1986-2016: +9.99%

    Please note that the highest average return is 1926 – 1956 – which included the “Great Depression of 1929

    Even with the huge market losses in 2008 – the 1986 – 2016 average return is 9.99%.

    Yes, there are years when you lose money. But invested in an S&P index fund – over 30 years you would most likely earn 10%.

    Now if you have a good financial planner, you should be able to easily exceed 10% over a 30 year period.

    Bank CD’s may be safe, but your losing money because of inflation.

  23. Great decision…. IF YOU HAVE THE RIGHT FINANCIAL ADVISORS. Google poor Columbus Blue Jackets defenceman Jack Johnson. Mom Dad ? What happened?

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