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Welcome to Roots of Wealth. A financial blog focusing on life, planning, and interesting information worthy of sharing with you.
Roots of Wealth is proudly managed by Crimmins Wealth Management Located in Ramsey, NJ.
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Retirement Advice from a NFL player

February 5, 2020 by Dan Crimmins Leave a Comment

One of the major themes throughout the years that we have been writing posts is planning for the time that you are no longer working – retirement.

For most of us, that time seems to sneak up on us.  We are busy trying to establish careers, advancing in our particular choice of career, raising families and staying otherwise productive.  Then one day you look up and you’re one of the oldest people in your employer or division.

For professional athletes especially NFL football players, this is not their lives.  If they are fortunate, they play a couple of years getting paid substantial amounts of money and then their football careers are over – usually very quickly. The average time for a player in the NFL is 3.5 years, but most of them do not sign contracts like Tom Brady.

Hopefully, they have been prudent and have saved some of the windfall to help them ease into life after football.  In addition, hopefully they graduated or returned to graduate from college to help them pursue a different lifelong career.

Marshawn Lynch photo
Photo by Matt McGee

Recently, a running back for the NFL’s Seattle Seahawks retired and then returned late in the season in order to play for this year’s playoffs. His name is Marshawn Lynch.

He played for the Buffalo Bills and Seattle Seahawks after being drafted by the Buffalo Bills in the first round of the 2007 NFL Draft.

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Lynch, who played for the University of California-Berkeley before joining the NFL, has earned more than $55 million, according to Sports Illustrated. He also started a Beast Mode clothing brand and other ventures playing off his football playing style.

But after Seahawks lost in the playoffs in mid-January, he made comments about retirement that I think are applicable to both NFL football players and everyone who is heading toward retirement.  I hope many NFL players take his words, but I also believe that we all should take heed of his advice.

At a press conference after the Seahawks lost to the Green Bay Packers in the playoffs in January 2020, Lynch said the following to his fellow competitors:

If they were me, or if I had the opportunity to let these young [guys] know something, I’d say take care of your money, because that s— don’t last forever. Now, I done been on the other side of retirement, and it’s good when you can get over there and you can do what …  you want to.

I’ll tell y’all right now while y’all in it, take care of y’all bread. When y’all done, go ahead and take of yourself. While y’all at it right now, take care of your bodies, take care of your chicken, take care of your mentals, because look, we ain’t lasting that long.

Marshawn Lynch let everyone know in his own unique style that life can be great in retirement, but you must take care of your money, mind and body. It’s great advice, and thankfully he practices what he preaches.

Are you saving enough bread, and taking care of your body and mind?

Hope you have a great week!

If you know of anyone that you think would appreciate this email, please don’t hesitate to forward it on.

Dan Crimmins
Dan Crimmins

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The foregoing content reflects the opinions of Crimmins Wealth Management and is subject to change at any time without notice. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that the statements, opinions or forecasts provided herein will prove to be correct. Past performance may not be indicative of future results. All investing involves risk, including the potential for loss of principal. There is no guarantee that any investment plan or strategy will be successful.

About Dan Crimmins

Dan Crimmins, co-founder of Crimmins Wealth Management, is a financial coach and fee only financial planner. Have a financial question? ASK DAN

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