Detroit Lions defensive end Brandon Copeland only lives on 15 percent of his NFL salary and saves the rest. Copeland knows too well that his lucrative NFL career will not last forever. The 25-year-old defensive end told ESPN’s Michael Rothstein: “It’s guaranteed football is going to be over one day.” So he smartly saves nearly 90% of his income — which averages $615,000 a year.
Here’s a break down of Brandon Copeland’s personal finance. He invests around 60 percent of his post-tax salary. The DE also saves the extra 30 percent of the salary, while he only lives off the remaining 10 to 15 percent.
That’s a very impressive plan for a high-income earner. Copeland understands the power of compounding earnings to reap the most benefit from his investments. He explains his strategy: “Now anything that I have in my account the year previous, I don’t touch it.” Furthermore, he adds: “I’ve literally hoarded money. I’m literally stacking, stacking, stacking. Anything I can get into an account and just let sit, I’ve got to a point where I have enough, where if football is over today, I have more than enough to take care of me for a while.”
While Copeland is planning ahead for his financial security, he also works part-time for a Wall Street firm. During the NFL off-season, the Wharton School graduate works remotely for Weiss Multi Strategy Advisers. He’s already making plan for life after NFL. This young man is well set on his road to financial independence.