A disturbing number of NFL players go broke in retirement. Patriots rookie defensive back Joejuan Williams will not be one of those players.
Williams signed a four-year, $6.6 million contract this year, and he told the Boston Globe that he will live as if he were making 10 percent of that and put 90 percent of his after-tax income into savings.
“I’d rather live like a prince for the rest of my life than live like a king for my NFL career,” Williams said.
Even spending 10 percent of a $6.6 million contract, Williams can live better than most. And by putting 90 percent of his earnings into investments, Williams can set himself up for life. Williams said he has always been a saver, dating to childhood, when his mom would give him $5 to go to McDonald’s and he would buy a $1 burger and pocket the change. That was a wise approach then and it’s a wise approach now.