Tua Tagovailoa will save his $30 million rookie contract, live on endorsements

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Some professional athletes make tens of millions of dollars and still go broke. Dolphins rookie quarterback Tua Tagovailoa will not be one of those athletes.

Tagovailoa got $30.3 million guaranteed, including a $19.6 million signing bonus, on his four-year rookie contract. He isn’t spending a dime of it.

Instead, Tagovailoa said in an interview with GQ, every NFL paycheck is going into savings, and all he’ll spend to live on is what he gets in endorsements.

“I’m gonna be living off of my marketing money, so the endorsement money that I get, and then everything else is just put to the side,” Tagovailoa said. “So the money that I’m making from my contract, that’s put to the side, so none of that’s gonna be seen.”

With endorsement deals with several big companies, Tagovailoa has been able to purchase some nice items, including a $1.65 million house near the Dolphins’ facility, an $80,000 Escalade for his mom and a $10,000 Rolex for his dad.

“I would say I’m happy with what I spent it on,” Tagovailoa said.

Tagovailoa is wise to recognize that for pro athletes, the money you make at age 22 isn’t going to last forever. Unless you’re smart about how you spend it.

30 responses to “Tua Tagovailoa will save his $30 million rookie contract, live on endorsements

  1. Good for him. Parents worked hard to support him and I am sure they will enjoy the presents but the big reward is seeing their support pay off in good use of his talent and good sense otherwise.

  2. plundergrunge says:
    September 26, 2020 at 6:54 am
    Next-level smart. I hope more players do the same.

    ~~~~~~~~~~~~~~~~~~~~~~~~~

    Indeed.

  3. To the person that said he will not even see half of that after taxes and fees etc..
    Even if some of that is true, i a. Willing to bet it is 1000 times more then you will ever see in your lifetime

  4. as someone who works in finance i love hearing these things….kills me seeing guys make 50+ mill in their careers only to be broke by 50

  5. Does he want a medal? When endorsements bring in millions a year….is he really being frugal, or just not an idiot by buyin 8 cars and 12 chains?

  6. jackedupboonie says:
    September 26, 2020 at 10:14 am
    Does he want a medal? When endorsements bring in millions a year….is he really being frugal, or just not an idiot by buyin 8 cars and 12 chains?
    ——————————————————————————————-
    Athletes are naturally competitive and have to outspend each other. Saving that competitiveness for the field is what they struggle in.

  7. He’s a highly regarded first round pick, playing QB. Of course he will get endorsements.
    Lesser drafted players don’t have that luxury.
    And so-so players don’t get many endorsements.
    Living off endorsements is only available to the good players or the famous ones, due to draft status or some key play.

    A 6thh round pick or a non-starter probably doesn’t get that many endorsements and does need to use some of their NFL pay for living expenses.

  8. Not to be a curmudgeon but professional athletes live in another world with the millions they make. I really can’t admire them when the announce they are going to budget their money and save and grow it. Thats why they have financial advisors, lawyers,and agents. Average Joe’s cant relate…but they save on their own.

  9. I’m happy for Tua, but most professional athletes don’t get huge endorsement deals.

    I don’t think that it’s difficult for Tua to save his paychecks since he is receiving millions of dollars in endorsement deals.

  10. He seemed to splurged on his parents and it was a way of saying thank you. But really wise beyond his years there.

  11. I was self-employed for 14 years. Three years ago I took a “day job” (working nights, actually) out of necessity. When my business rebounded, I kept my night job and my entire paycheck goes to 401(k), IRA, and HSA, all tax favorable accounts that I won’t touch for 19-30 years. I’m not saying everyone should work 2 fulltime jobs, but it’s an option for the rest of us who don’t have elite skillsets in 7 figure fields. Live off one check, completely save the others.

  12. intrafinesse says:
    September 26, 2020 at 10:33 am
    He’s a highly regarded first round pick, playing QB. Of course he will get endorsements.
    Lesser drafted players don’t have that luxury.
    And so-so players don’t get many endorsements.
    Living off endorsements is only available to the good players or the famous ones, due to draft status or some key play.

    A 6thh round pick or a non-starter probably doesn’t get that many endorsements and does need to use some of their NFL pay for living expenses.
    ——————-

    That’s true to an extent but they could also do other things to work with that they have like maybe not spending any of their signing bonus, fully taking advantage of all retirement funding options, if they get $400,000 instead of $4 million they could live on $200,000, etc.

  13. joshhatesthesteelers says:
    He won’t even see half of that after he pays taxes, union dues, and agent fees
    ==

    You mean he’d end up with only $16 million free and clear in the bank — off his guaranteed rookie money — with millions more likely coming in down the road?
    Oh, the humanity!

  14. I’m sure his once his teammates are out of the NFL and broke they’ll be calling him up begging for money.

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