ALLEN PARK, Mich. – Detroit Lions wide receiver Ryan Broyles was a second round draft pick. He signed a contract with the Lions for more than $3.6 million, more than $1.422 million guaranteed. But even with all that money, Broyles has decided to live on a budget. He and his wife have lived on $60,000 a year.
Broyles has made efforts for smart financial planning. He made his investments throughout his career and met with an adviser shortly after he was drafted in 2012. Broyles is aware that some athletes go bankrupt and was determined not to have that happen to him. Living off a budget will help him plan for his future.
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"Then you know how much you can invest, how risky you can be," Broyles said in an ESPN interview. "Then, when I was hitting the same budget over three, four, five months, it was all right, this is what your budget is, and I had some spending money."
Broyles did a speaking engagement about financial planning with New Orleans running back Mark Ingram in Washington, D.C. He has worked with VISA and the NFL to promote Financial Football video game in classrooms to help teach financial security and planning in Oklahoma and D.C.
"When I come to work, I don't think about the money, man," Broyles said in an ESPN interview. "I can tell you that, without a doubt."