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NFL
May 19, 2025

Financial Advice NFL Pros Wish They Knew Earlier

Financial Advice NFL Pros Wish They Knew Earlier
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Insights from former NFL pros on choosing financial advisors and maximizing career earnings through smart financial strategies.
Zach Miller
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Jeff Locke
Jeff Locke
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Riccardo Stewart
Riccardo Stewart
Sam Acho
Sam Acho
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There are key financial insights that players can often miss in the early stages of their career. A few ex-NFL professionals have shared light on what they wish they knew earlier, to set them up for financial success after football. 

Former NFL athletes like Sam Acho, Jeff Locke, and Zach Miller are shedding light on the strategies they wish they'd known from earlier in their careers.

Understanding the Power of a Team

While the role of camaraderie and strategy is evident in a game, financial success off the field requires a similar team-based approach. Former NFL linebacker Sam Acho recalls a key moment during his time with the Tampa Bay Buccaneers that shifted his financial trajectory. He emphasizes the lesson he learned—the value of having a robust financial team around you. For many athletes, the instinct to handle everything independently is strong. However, as Sam discovered, having a team of knowledgeable advisors to offer insights and guidance can lead to more informed and successful financial decisions.

An example of having a financial team would be to have a family office, like AWM Capital, which offers tailored financial services that align with individual goals and needs. Unlike a generic finance advisor, a dedicated team brings the combined expertise of different specialists, from tax advisors to investment strategists. This comprehensive support system ensures that financial decisions are not only well-informed but also optimized for the athlete's unique position. In the same way a football team works together to execute plays, a family office collaborates to safeguard and grow an athlete’s wealth, addressing everything from immediate financial concerns to long-term legacy planning.

Making Informed Advisor Choices

Punter Jeff Locke’s journey highlights the critical importance of advisor selection. Coming out of college and into the NFL, he found himself navigating a world filled with financial jargon and unclear motives. In hindsight, Jeff emphasizes the importance of asking questions early—especially around advisor compensation and transparency.

Ensuring that financial advisors clearly outline their fee structures in writing can prevent unexpected revelations down the line. Some athletes find themselves burdened with unsuitable financial products pushed by advisors with conflicting interests. These early stumbling blocks can be avoided by demanding transparency from the outset.

Moreover, the landscape of financial advising is not one-size-fits-all. Most mainstream advisors cater to individuals on the cusp of retirement, not young athletes with fluctuating incomes and unique financial needs. For athletes, integrating tax advice with investment strategy is crucial, especially given the complexities introduced by NIL (Name, Image, and Likeness) earnings that college athletes now encounter. Verifying whether advisors are equipped to handle these specific needs is key.

Customized Strategies for Career Longevity

Zach Miller reflects on the common pitfall of accepting generic investment advice. Understanding that careers in the NFL are remarkably short, Zach realized the necessity for strategies tailored to his unique situation, rather than relying on standard guidance that might not suit his financial aspirations. This realization has led many professional athletes to seek out family offices, which can provide comprehensive and personalized financial planning.

The potential for generating substantial wealth in a brief career window is significant, but it requires strategic foresight. Miller discusses the advantages of diversifying investments, particularly by exploring private equity opportunities. Such investments, while sometimes high risk, can offer the potential for rapid wealth accumulation if executed wisely and with the guidance of experts who know the landscape well. Unfortunately, athletes often stumble into the wrong investments due to a lack of informed guidance, missing out on lucrative opportunities—or worse, losing substantial capital to ill-advised ventures.

Tax strategies present another arena where bespoke advising can vastly improve outcomes. Early in his career, Zach didn’t fully appreciate the long-term benefits of strategic tax planning. Utilizing options like a solo 401(k) or Roth IRA efficiently can lead to significant financial growth due to the tax advantages they present. By maximizing these opportunities, athletes can secure a portion of their earnings in ways that ensure sustained wealth creation. Once the playing days are over, these missed opportunities cannot be reclaimed, highlighting the importance of proactive financial planning from the onset of their careers.

Athletes, much like entrepreneurs, are unique entities that require individualized approaches for financial success. Emulating the practices of high-net-worth individuals who rely on family offices, athletes can maintain their focus on the field while their financial team works diligently to optimize their wealth off it. For Zach, a family office offered the peace of mind and specialized planning necessary to focus on his football career while ensuring his financial future was secure.

Empowering Athletes to Take Charge

Understanding that as a professional athlete, you are essentially the CEO of your own burgeoning enterprise is helpful. This perspective can demystify the process of switching advisors or structuring your financial plan, illuminating the fact that athletes have both the right and responsibility to demand services that are tailored to their needs.

There are essential questions players must ask when choosing or switching advisors: How are my taxes integrated with my overall investment strategy? What insights can be gained from current benefits, such as NFL retirement options and 401(k) plans? Are the advisors consulting on these pivotal aspects experienced with other professional athletes? Athletes should not shy away from inquiries that align their financial health with the strategic direction their career is headed.

By reframing their approach and realizing their own oversight capabilities, athletes can make informed decisions that echo throughout their careers. As players begin managing their finances with a business mindset, the potential for sustaining and growing wealth becomes a tangible and achievable goal. The empowered athlete, surrounded by a capable and specialized team, will confidently command both his financial and athletic futures.

Financial Success Beyond the Field

The insights provided by Sam, Jeff, and Zach offer a roadmap for current and aspiring NFL players to navigate their financial journeys with foresight and informed decision-making. Building a supportive team, making informed advisor choices, and crafting customized strategies are critical to transforming career earnings into enduring wealth. By leveraging the specialized services of a family office, athletes can safeguard their financial futures and also position themselves for long-term success.

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