You’ll Never Believe Which NFL Player Lived In A Closet To Save Money…

The Shocking Truth Tim Masthay, punter for the Green Bay Packers, and his wife Amanda, have made a lot of sound financial decisions. Here are some pages from their...

The Shocking Truth

Tim Masthay, punter for the Green Bay Packers, and his wife Amanda, have made a lot of sound financial decisions. Here are some pages from their financial playbook. Tim came from a family with a modest income and had five siblings. Therefore, his family was often forced to be frugal.

So, in college, at the University of Kentucky, where he met his wife Amanda when they were sophomores, instead of spending his scholarship check ($750 per month) on an apartment, he rented a utility closet for $100 a month. However, by the time he graduated, he had saved $10,000! He and Amanda got married right out of college and Tim used part of that money to pay for his wife’s wedding ring.
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Right after college, Tim was trying to make an NFL roster, and Amanda was working as a bank teller for $9 an hour. She tells about how when they got his first football paycheck, she almost fell onto the floor. In 2015, the NFL league minimum salary for a football player was $435,000. The average NFL player is in the league for 3.5 years and earns $6.65 million.

Therefore, they are forced to plan ahead for their future. Tim and Amanda planned ahead and put some of the money into a 401(k) plan and also some of it into an education plan for their children. Tim tells about how he has never had a financial advisor like many athletes do, and he invests his money himself in low-cost index funds.

He and Amanda also only have one credit card. Because as an NFL player you cannot predict how long you will be in the league, it is very difficult to project how much you will learn in your career. Therefore, Tim feels that saving as much as possible is of primary importance. He and his wife are both thankful for the educations they received at the University of Kentucky. Also, the lessons we learned at a young age were extremely influential.

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