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Former Dallas Cowboy offers up financial advice to NFL rookies about to be drafted

Former Dallas Cowboy offers up financial advice to NFL rookies about to be drafted
Former Dallas Cowboy offers up financial advice to NFL rookies about to be drafted

Every football player is waiting for that major pay-day. Let’s face it, the NFL is a dream of many kids, and to have that huge pay day would be great, but not everyone is paid the same. Crawford Ker a former third round pick by the Dallas Cowboys talked to Fox Business about how he would diversify his portfolio.

“What I would tell them is I wouldn’t do that,” Ker told FOX Business in a recent interview when asked whether he would advise players to get into the crypto world. “What I would do is — if they want to dabble a little bit in it or, in other words, if they want to take 5% and put it into cryptocurrency, that’s fine – or 10%. The major thing with investing is to be very diversified. And that’s a very volatile currency. It’s almost like 10 times more volatile than the Nasdaq or something like that. If you want to build wealth, it has to be very diversified.

“For a lot of these athletes, I’d tell them to be very conservative because, at the end of the day, when the football season is over, a lot of the time the money trail stops. If they’re making $10-20 million a year, as soon as you get out of that league, it’s not a lot of jobs out there that are paying $10-20 million. For every superstar athlete, I think the general public sees these guys as multimillionaires, but it’s a 5%, 2%, 1% gain. It’s the 1% actually making the big money to retire. It’s the 1% that have a future outside that in broadcasting or what have you. It’s a limited time.”

Ker talks to kids about what to do after the NFL. Ker has been pretty successful, he sold the Florida-based Ker’s WingHouse to Third Lake Capital in 2014. The year before the transaction, the Tampa Bay Times reported the company was doing $60 million in sales. Ker opened the first WingHouse in 1994.

Some NFL players are great with their money, but being conservative with your money is probably great advice for a rookie.

NFL Draft Diamonds was created to assist the underdogs playing the sport. We call them diamonds in the rough. My name is Damond Talbot, I have worked extremely hard to help hundreds of small school players over the past several years, and will continue my mission. We have several contributors on this site, and if they contribute their name and contact will be in the piece above. You can email me at [email protected]

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