His salary was as high as $600,000 in 2016, but you wouldn't know it from his lifestyle: The offensive lineman, who drives a used Nissan Versa that he bought for $9,000, chose to live on less than $25,000 a year.
That means Urschel was living off of just 4 percent of his salary in 2016. In other words, he was saving about 96 percent of what he made.
He had to have at least paid some taxes. That said, this is one professional athlete that will not go bankrupt when he retires or can no longer play football. Much respect and best wishes to him.
"Is a car that costs $30,000 really going to make you that much happier than a car that costs $20,000? Or would you be happier saving that money so you can one day be financially free?"
That I think encapsulates the thinking of many mature investors. The ability to be disciplined on the end result and NOT be persuaded to change course during the journey. To be honest, I am sure he had a MUCH harder time then any of us have ever had. Think about being in a world folks blow through thousands a NIGHT with no care about the future. Takes A LOT Of self confidence.
Good for him. No surprise he is an MIT grad going back to get his postdoc. Heck, if he had just done that he would have made A LOT more then 1.8mill over 3 years just by going the Wall Street/ Hedge Fund route.
Good luck.
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-Jack Bogle
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