Detroit Lions wide receiver Ryan Broyles and his family are living on a $60,000 annual budget so they can commit to more investments. He has partnered with the NFL and Visa to promote a video game aimed at teaching teenagers how to be more financially responsible.
Ryan Broyles and his family are living on a $60,000 annual budget.
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According to ESPN's Michael Rothstein, Broyles has been into financial planning since 2012.
It all began when a financial adviser met him after the 2012 NFL draft. He challenged Broyles to determine his annual budget within the next few months.
Broyles signed a $3.6 million deal in his first pro season. The guaranteed amount was $1.4 million. He was already aware of NFL players going bankrupt. He wanted to avoid that scenario at all costs, per Rothstein.
He and his wife, Mary Beth, determined $60,000 as their annual budget. Rothstein stresses the remaining amount goes to investments and retirement savings.
Broyles told ESPN how important it is to live within one's means:
"Then you know how much you can invest, how risky you can be. Then, when I was hitting the same budget over three, four, five months, it was all right, this is what your budget is and I had some spending money.
"I didn't hold myself back at all on those terms. That's what I tell people when they start to invest, I tell them to live your life and see where you stand and then pull back. Don't pull back without even knowing."
Broyles lives a frugal lifestyle. He drives a red Ford Focus rental car to training camp this season. His family is content with Mazdas.
Broyles still uses his 2005 Chevrolet Trailblazer. This was the car he used during his college days with the Oklahoma Sooners, per ESPN.
Rothstein says he checks his investments every day on his cell phone app. Broyles didn't specify the investments he has. He does put a lot into his 401K plan.
He is spreading the word about financial literacy. He and Mark Ingram discussed this matter with Washington, D.C. students five months ago. Broyles has also partnered with the NFL and Visa to create a Financial Football video game.
This game will be a platform to teach kids about financial literacy, per Rothstein.
Broyles dubbed himself "a businessman off the field," per ESPN:
"The pressure I put on myself is just being the best player I am. I would never play (just) for money, you know what I mean, that's not my intentions whatsoever.
"Whatever comes, it's just a blessing. But I got the mindset of a businessman off the field, I'll tell you that."
Broyles also told ESPN he studied and sought as much advice as he could. That way, he, Mary Beth and their son, Sebastian, will have a secure future:
"When I come to work, I don't think about the money, man. I can tell you that, without a doubt. There might be some guys that do but I put myself in a position where I come out here and have fun.
"I don't have that pressure, you know what I mean? My wife has no worries. My child has no worries. For the most part, I can help my family, you know."
Last week, Broyles tried to make a statement during training camp.
A Lions teammate laid out Broyles in practice last week. The Detroit Free Press' Carlos Monarrez reported on the development.
Ryan Broyles appears to be sitting out of today's full-pads practice.— Tim Twentyman (@ttwentyman) August 10, 2015
Broyles insisted his ensuing hit on cornerback Josh Wilson was unintentional, per Monarrez:
"Yeah, I didn't know they were going to come out like that. We didn't have our (padded) pants on. He came out of nowhere, hit me. Those guys are trying to prove a point. So, I came back and tried to prove one as well.
"I don't think I've laid a guy out like in a while, man. It wasn't my intentions going into it. To be honest, it just happened. So, it is what it is."
Broyles told The Detroit Free Press the hit did not set him off. He did feel good about hitting someone hard:
"No, I said, 'Sorry, man.' I'm not trying to hurt my guy. I'm sure whoever hit me, they didn't try to lay me out.
"It felt pretty good. You've got your pads on. Good thing I have a mouthpiece in. That's a plus."
Monarrez says Broyles has had an extensive injury history. He tore his ACL four years ago when he was still with the Sooners. He tore it again the year after that. In 2013, he ruptured his Achilles tendon.
These have limited Broyles to just 21 games and 32 catches, per The Detroit Free Press.
Broyles told Monarrez last week he can't wait to make a difference for the Lions this season:
"Yeah, I hate the health question. I've gotten that so many years. I feel good where I am. I'm excited about this coming year. I'm excited about the next few days of training camp going into the first preseason game.
"That I can play at this level. I think that everybody's mindset going into training camp. We all want to come out here and make plays."
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