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.
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.
-
Former First Lady’s Legacy Lives On in Dedication to Caregiving, Peace, and Mental Health Reform The Carter Center announces...
-
Is the Tension Between China and the U.S. Increasing? Following four hours of straightforward summit talks on the outskirts...
-
Secretary of State Antony Blinken calls for de-escalation as fighting displaces millions and raises concerns for upcoming Congo elections....
-
Taking Precautions in Uganda and Kenya for Safe Travels The U.S. Embassy has recently issued important security alerts for...
-
White House Reveals Disturbing Executions and Threats in Conflict The White House has disclosed deeply concerning information regarding the...
-
Military Exercises Coincide with Treaty Developments Amid Global Concerns Russia recently executed a large-scale military exercise to rehearse its...
-
China’s Ambitious Plans to Double Its Nuclear Warhead Stockpile Highlighted in Pentagon’s Annual Report The annual report released by...
-
Strengthening Partnerships and Providing Support in Challenging Times In a collaborative effort between the U.S. Congress and the White...
-
U.S. Stresses Peace and Humanitarian Aid in Israeli-Palestinian Conflict In an exclusive interview aired on Sunday, President Joe Biden...
-
Meta’s Oversight Board to Review Handling of Manipulated Biden Video Facebook’s refusal to remove a leaked video of President...
-
Congressman accused of credit card misuse and identity theft, as legal challenges persist. U.S. prosecutors have brought a fresh...
-
First-ever Criminal Prosecution of a Sitting President’s Child Sparks National Interest and Legal Debate In a landmark legal case,...