Financial Expert Says Savers Should Follow Rob Gronkowski
When it comes to managing money, one expert says retired NFL tight end Rob Gronkowski did everything right.
But in the past decade Gronkowski's been making some saves off the field as well, saving every single penny of his salary over the past nine seasons.
Gronkowski, 29, may be the butt of dumb jock jokes, but he's got the right idea when it comes to money, according to financial adviser Michael Moran.
"What he did was brilliant by saving all that money," Moran, who works with the Commonwealth Financial Group, said. "What he did was, which was really smart, is he saved first and he spent second."
"Everyone wants a secure future and we plan to have children in the next five years, right, we own a business and we're looking to buy a house, so it's very important to have the financial backing to do so," Baccari said, explaining how he and his fiancee are saving.
Moran noted that they have the right idea. "We live in a world where you save it or you spend it and so if you create that target and that plan just like Rob did, you more likely to hit success."
Gronkowski, who retired last month, lived way below his means for years. While some sports stars live in palaces for a few years and then end up broke, Gronkowski lived in a two-bedroom loft in Boston. It was nice, but not palatial.
He recently sold it for $2.3 million, making a tidy half-million dollar profit.
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