NFL STAR CHAD OCHOCINCO SAVED 80% OF HIS MONEY BY FLYING COACH AND WEARING FAKE JEWELRY! – A RAINBOW OF ROLE MODELS {WEDNESDAY SERIES}
I celebrate ACHIEVEMENT EVERY DAY! WEDNESDAY’S “A Rainbow of Role Models,” I do not see race, skin color, religion, sex, attractiveness (ok, I do like beautiful ladies), age, or any other nonsense. I love learning from inspirational people that inspire me to drop MY EXCUSES and JUST DO IT! Role models who stretch my ambitions and model GIVING BACK!
There is dignity in achievement and success—in becoming a great factor in civilization.” Carter G. Woodson.
I hope you will share these short articles; perhaps a few people will be curious to learn more.
Disclaimer: Good Day, Readers. WealthBuildingPowers blog is a financial literacy/competency blog and does not provide specific investment recommendations.
STYRON’S INTRODUCTION
I love this man maintained the image of the wild, spending, flashy athlete while wearing FAKE JEWELRY! Brilliant! Regardless of your income, you can learn from his example. “People should spend their time, energy, and money creating a reputation for themselves rather than wasting resources trying to impress people.” This week’s role model- is Mr. Chad Ochocino.
NFL star Chad Ochocinco – He was flashy, not materialistic – A RAINBOW OF ROLE MODELS {WEDNESDAY SERIES}
RULE #1: IT AIN’T ROCKET SCIENCE, PEOPLE – ALWAYS EARN MORE THAN YOU SPEND!
A startling number of professional athletes face financial hardships after they retire. The big reason is that even though they make a lot of money, the average sports career is relatively short: 3.3 years in the NFL; 4.6 years in the NBA; and 5.6 years in MLB. During that time, athletes often dole out money to friends and family members who helped them along the way and can fall victim to living lavish, unsustainable lifestyles.
After the athlete retires, they are likely to earn a lot less money, and if they don’t adjust their spending, they’re in for some serious trouble.
In a candid interview with NFL Hall of Famer and TV personality Shannon Sharpe, Chad Ochocinco (legally Chad Johnson) revealed that he saved 80 to 83% of the $48 million he made in the NFL by faking his lavish lifestyle because it made no sense to him.
The former Cincinnati Bengal, New England Patriot and Miami Dolphin was known for being a diva on the field but was financially conservative when he took off his jersey. He wore fake jewelry from Claire’s and prefers to fly coach instead of private.
Ochocinco didn’t need to project an image because his reputation spoke for itself. “If you can get to a point in your career where your name becomes bigger than anything you can purchase, there’s your value,” he said. “My name itself, Ochocinco, at one point, was bigger. We talk about watches and jewelry and chains—I never bought real anything while I was playing. What was the point? I went to Claire’s.”
The former NFL wide receiver doesn’t need a fancy watch when it’s free to ask someone the time.
“Why am I buying a $50,000 watch? An $80,000 watch? What time is it real quick?” Ochocinco asked Sharpe. “How much that cost me? Time is free,” Ochocinco said.
He admitted that spending all your time and money trying to impress people is a losing game that doesn’t get anyone anywhere. “People aren’t going to listen because we are caught up in looking a certain way, living a certain way, trying to appease others who don’t really care nothing about you, just to say ‘Oh, I got it.'”
He admitted that he gives his kids whatever they need and lets them splurge some but he wants them to understand the importance of living within their means.
Even though Ochocinco was a multimillion-dollar athlete and one of the biggest names in sports, his message pertains to just about everyone. People should spend their time, energy, and money creating a reputation for themselves rather than wasting resources trying to impress people.
Fancy cars, jewelry, and friends who like you for your money won’t be around for long. But your name lasts forever.
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ABOUT ME
I am a proud nerd (as my beautiful wife and daughter have told me) investment and finance blogger with an N.C. State, Chemical Engineering, University Rutgers, MBA and Harvard University, Advanced Management education.
I left a corporate career because I desired to make a difference as a speaker and writer. I was blessed to be coached and mentored by strong women and men in my family and professional life. It is my time to serve and give back.
DISCLAIMER
I started my first business at ~13 years of age (a small but brilliantly created plant nursery). I am a successful investor in stocks, options, and real estate and am happy to share my finance and investment lessons. I am NOT a licensed financial advisor. Please do not construe my suggestions on this blog as recommendations for your situation. As an investor, you must establish your risk/loss tolerance. Investment in any asset involves risk, including complete loss.
Please seek your licensed CPA or fiduciary financial advisors for individual financial advice.
I write this weekly blog to make an impact by reaching an audience and demonstrating the need for financial literacy. I will help you get there.
