Alvin Kamara says he hasn’t spent any of his football money

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Like long-time NFL tight end Rob Gronkowski, four-year veteran running back Alvin Kamara has found a way to pay his bills without touching his football money.

Appearing on Uninterrupted’s Kneading Dough series, Kamara said that he has not yet spent any of the money he has earned playing pro football.

“I got my signing bonus, I went and got some wings, and I was like, ‘Man, I’m not spending any of this money.’ . . . I still have not spent $1 of my football money — new money or rookie contract money,” Kamara said, via Bleacher Report.

A player like Kamara, who makes money from endorsement deals, can live off that revenue while banking the football money. The challenge then becomes putting the football money in a place where it can earn good interest but that the principal remains secure.

It’s a good lesson for anyone who suddenly finds himself or herself with plenty of money. It’s very tempting to make a series of big expenditures. It’s smart to save as much of it as possible, to protect it, and to invest it wisely and prudently.

20 responses to “Alvin Kamara says he hasn’t spent any of his football money

  1. Saving money is hard work, but it is one of the smartest things a person can do.

  2. Been trying to get my girlfriend to follow your same financial advice for years now Mike. It hasn’t worked

  3. Smart Alvin. Keep on saving and cautiously investing so it is there for you and your family when you are long past your football years.

  4. I would say what he is doing is especially important for running backs. Their “life” in pro football is much shorter than most so saving those dollars is doubly important if you want it to last a lifetime or more.

  5. deannafell says:
    April 12, 2021 at 11:51 am
    Hope he didn’t invest in tech stocks. Red across the board 🙁

    —–

    If he put it all into tech stocks over the duration of his career he has made a killing….

  6. Alvin , by saving you’ve figured out the 2nd most important thing in life ( next to air to breath ) it’s called LEVERAGE! I think that’s very shrewd on your part.

  7. Good for him. Hope some of these professionals follow suit. SO many of them are broke a few years out of the game.

  8. deannafell says:
    April 12, 2021 at 11:51 am
    Hope he didn’t invest in tech stocks. Red across the board 🙁

    —————

    Yea who wants to retire like I am at 50.

  9. It is awesome to see a young professional athlete using smart financial planning. Too many of them blow through their income way to fast.

  10. What a coincidence. I haven’t spent any of my football money either.

  11. The folks giving thumbs down to Alvin Kamara investing his rookie signing bonus into Bitcoin…it was $2000 per coin at the time and no capital gains tax so Alvin could have flipped his 1.4 million as a rookie into 700 bitcoins valued at $24,000 in December which is 15.4 million dollars. Since the article states Kamara saved his money it would have been a very smart investment on his part knowing his second contract would come based of his OROTY award and huge production in the NFL.

  12. The money doesn’t even have to earn one penny of interest. Pretty soon you start getting enticed to put your money in riskier investments that pay more interest. I’d invest in real estate, if I had to invest in anything. It doesn’t take any expertise.

  13. lengai says:
    April 13, 2021 at 11:00 am
    The folks giving thumbs down to Alvin Kamara investing his rookie signing bonus into Bitcoin…it was $2000 per coin at the time and no capital gains tax so Alvin could have flipped his 1.4 million as a rookie into 700 bitcoins valued at $24,000 in December which is 15.4 million dollars. Since the article states Kamara saved his money it would have been a very smart investment on his part knowing his second contract would come based of his OROTY award and huge production in the NFL.

    Hindsight investing is the best kind. You never lose.

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