The future isn’t guaranteed

Suppose you are a football player with a big, fat, multi-million dollar contract. Live large, right?

That’s not what the Gronk did.

NFL player Rob Gronkowski made about $60 million from his NFL contracts, and he didn’t spend a penny. Well, yes, he had other money coming in from juicy endorsements, but for the most part, he lived simply.

Here’s what he wrote in his 2015 book, It’s Good to Be Gronk: “I haven’t blown any bucks on expensive cars, expensive jewelry, or tattoos. Heck, I still wear my favorite pair of jeans from high school.”

That attitude not only left Gronk with a sweet $50 million in investments when he retired at 29, but it was also insurance against uncertainty. When Gronk started, he didn’t know when and if he would become injured and unable to play. The future is unknown, even if the present seems stable or even prosperous. Many learned how fast things could change in March 2020 after the COVID-19 shutdowns.

Not everyone has the luxury of endorsements, but everyone has the choice to live simply and save lavishly. The more you put into a 401(k) or IRA, the more secure your future is.