Marshawn Lynch – aka Beast Mode to his teammates and fans – dropped some wisdom on us all (as only he could) in a presser following the Seahawks vs. Packers NFC divisional playoff game.
As the leader of the financial consulting firm, Edyoucore, I could not have loved it more.
Beast Mode expressed brotherly concern for the younger ranks of the league to get their finances straight because, as he so clearly said, “So when you’re ready to walk away, you walk away and you be able to do what you want to do.” He can say that from experience because until the Seahawks summoned his skills for the last three games of the season along with the divisional face off against the Packers, he walked away twice and “…it was good when you get over there…”, Lynch said.
Take care of your bread.
Take care of your chicken.
Take care of your mentals.
— Carron J. Phillips (@carronJphillips) January 13, 2020
The plea for his teammates to pay some mind or start “adulting” when it comes to their pay (in addition to their mental and physical health) should be heeded in a big way since Marshawn has major cred as proven by his own finances.
Some sources claim that his net worth sits in the neighborhood of $30 million but that actually could be very low since rumors are that he lives primarily off his endorsements.
Marshawn Lynch Understands Money
In 2016, NFL Network’s Ian Rapoport laid bare that Lynch had earned a total of $50 million over the course of his career by then and had not spent a dime of it. Three years later, who knows how much that has grown.
What we do know is that Marshawn’s bounty will expand again after his $60,588 check for doing his thing in the divisional playoff game clears. It seems like crumbs when compared to his lifetime earnings. BUT if he does with that what he has done all along – play it smart and conservative – the modest payday could mean much, much more.
Just for fun, let’s say that after taxes he takes home roughly $39k and invests that in the market for the next 32 years to get him to the traditional retirement age of 65 (which certainly won’t be the case as he can lay back and take it easy today!). At an average annual return of 8%, compounded for those 32 years, he’d amass a little less than $500k. Oh, and by the way, he also designed some merch to celebrate his retirement break out – those sales will only add to that number. Who wouldn’t take another half mill and then some?
Maybe those still playing in the postseason?
The players on any one of the four teams battling for the final two spots in the Super Bowl should be thinking hard about just how they’ll bank the coin that could potentially roll their way. For those that do make it to the big stage in a few weeks, the checks they have collected along the post-season path will equate to nearly $250k, that’s four times what Beast Mode got. And, for a rookie that could be 50% of his pay. To that, I challenge them: WWBMD? What Would Beast Mode Do?
While Lynch is headed back into retirement (again), there is no arguing that he is as wise as they come and his financial wit will continue to pay off for him. He is in the minority, however, because:
1) He has been lucky to outrun the league average of 3.3 playing years with his 12 – affording him the lengthy earning ability and
2) He had respect for his money knowing football was not forever.
As a man known for his quotable remarks while trying to famously avoid the media, we thank Marshawn for what I would guess could be his last words to the press. He chose to literally use his platform as an opportunity to help his teammates one last time by giving the gift of seasoned and sage advice.
He spoke truth, 100%. I really hope they were listening.
Drew Hawkins is a 30-year veteran of the financial services industry and CEO/Founder of Edyoucore Sports & Entertainment.