Is There Life After Football? by James A. Holstein & Richard S. Jones & George E. Koonce Jr

Author:James A. Holstein & Richard S. Jones & George E. Koonce, Jr.
Language: eng
Format: epub
Publisher: NYU Press
Published: 2015-01-28T16:00:00+00:00

Affording Life after Football

Despite the financial horror stories, most NFL players fare pretty well financially after retirement. Even if the financial stream slows to a trickle, a modest lifestyle seems well within reach of most players. (Of course, as we’ve seen, modest aspirations aren’t the NFL norm.) In an effort to contextualize the “Greedy Players” myth, journalist Hank Koebler of the Huffington Post has constructed a scenario describing just how long an “average” player’s earnings might support himself (and his family) in an “average” lifestyle. Assuming an average career of 3.5 years, paid at the median salary of $770,000 per year, a player could expect total football earnings of about $2.7 million. Conservatively assuming that the player actually takes home around 40 percent of his gross pay after taxes, agent’s fees, and other payroll deductions, that leaves the player with a bit over a million dollars in hand. The United States Census Bureau listed the median U.S. household income for 2011 as around $50,000. Continuing to assume that a player would choose to live within the means of the average household, the accumulated NFL take-home pay for his average career could last him around 20 years, not counting any interest or investment income the savings might generate. That should carry the player to the time when he can tap into his NFL pension (at age 45). While this financial scenario might be quite a comedown from high times in the NFL, it demonstrates that being broke isn’t the only alternative for former players who haven’t struck it rich.85 And it provides an interesting counterpoint to Darryl Gatlin’s account of players’ “obligation” to the NFL lifestyle, raising the question: Does human nature inevitably say, “You have $3 million, you are supposed to live like you have $3 million. So you can spend $3 million”? It’s more likely that this is the NFL player ethos talking.

Many NFL alumni turn down the volume on the ethos and manage their financial circumstances responsibly, adroitly, and conservatively. Spending isn’t a personal compulsion or an irresistible cultural imperative. It isn’t necessarily contagious. Most players avoid the “broke” syndrome. Vestiges of the ethos may keep former players from bragging about their conservative lifestyles or their tax-free municipal bonds, but their success stories also need to be told.

It goes without saying that self-discipline is the foundation of these stories. They also include chapters about sensible, supportive wives and families, and concrete plans for life after football. Prudence and foresight are cross-cutting themes. Hakeem Chapman—who grew up in the same Compton neighborhood as Tommy Jones—offers compelling reflections.

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