1 00:00:03,720 --> 00:00:08,160 Speaker 1: Welcome to the NFL Legends Podcast, an NFL podcast for 2 00:00:08,320 --> 00:00:13,319 Speaker 1: the players, by the players. Here is your host, four 3 00:00:13,360 --> 00:00:24,360 Speaker 1: teen year NFL veteran and Hall of Famer Enius Williams. Hello, 4 00:00:24,400 --> 00:00:27,960 Speaker 1: and welcome to NFL Legends Podcast. I am a Nius Williams. 5 00:00:28,640 --> 00:00:34,200 Speaker 1: Today we're joined by legend Jedediah Collins, also known as 6 00:00:34,440 --> 00:00:39,239 Speaker 1: Just Jed, an undrafted free agent fullback can't wait to 7 00:00:39,280 --> 00:00:44,839 Speaker 1: talk about that prehistoric position, who was once cut seven 8 00:00:44,880 --> 00:00:49,559 Speaker 1: times before he ever took his first NFL snap. He 9 00:00:49,680 --> 00:00:54,080 Speaker 1: is now a certified financial planner and author of the 10 00:00:54,160 --> 00:00:59,960 Speaker 1: book Your Money Vehicle, How to Begin Driving to Finance 11 00:01:00,040 --> 00:01:05,600 Speaker 1: Your Freedom. Welcome Jet, And it is an honor and 12 00:01:05,640 --> 00:01:09,760 Speaker 1: a privilege to be on and truly humble to be 13 00:01:09,920 --> 00:01:12,839 Speaker 1: in the consideration of legend and very excited to share 14 00:01:12,959 --> 00:01:15,840 Speaker 1: kind of the message that I am out promoting and 15 00:01:15,880 --> 00:01:19,520 Speaker 1: delivering um to not only our brothers, but to just 16 00:01:19,600 --> 00:01:23,960 Speaker 1: the masses around financial empowerment. Thank you, Jed. I'm so 17 00:01:24,040 --> 00:01:27,360 Speaker 1: excited for the work that you're doing and it's obviously needed, 18 00:01:27,840 --> 00:01:30,959 Speaker 1: not just in the athletic room, but just in society 19 00:01:30,959 --> 00:01:35,200 Speaker 1: in general. And I know you have a great financial 20 00:01:36,160 --> 00:01:41,039 Speaker 1: advice for players and legends, and even people who want 21 00:01:41,120 --> 00:01:44,320 Speaker 1: players and legends. But I want to talk to you 22 00:01:44,319 --> 00:01:48,320 Speaker 1: for a minute about your playing career. Jet take us 23 00:01:48,320 --> 00:01:52,280 Speaker 1: through the number of teams and the number of times 24 00:01:52,440 --> 00:01:59,000 Speaker 1: you got cut when you finally took your first NFL snap. Yeah. 25 00:01:59,040 --> 00:02:02,360 Speaker 1: So I h I have been called a master of 26 00:02:02,400 --> 00:02:06,720 Speaker 1: being cut um, and it is something that truly I'm 27 00:02:06,760 --> 00:02:09,880 Speaker 1: fortunate because I'm I'm unique in that I loved the right. 28 00:02:10,000 --> 00:02:12,080 Speaker 1: So I'm a journal er and so each time I 29 00:02:12,160 --> 00:02:14,600 Speaker 1: had that conversation, I have it written down on pen 30 00:02:14,639 --> 00:02:18,080 Speaker 1: and paper, just pouring out my emotions. And some people say, 31 00:02:18,200 --> 00:02:20,320 Speaker 1: you know, this is the first time her worse or 32 00:02:20,400 --> 00:02:22,959 Speaker 1: more than the last time. They all hurt the same, 33 00:02:23,040 --> 00:02:26,400 Speaker 1: they're shots of the heart. But I went undrafted, which 34 00:02:26,520 --> 00:02:29,760 Speaker 1: was kind of the first humbling point because I definitely 35 00:02:29,800 --> 00:02:32,600 Speaker 1: expected to to get a phone call that day. But 36 00:02:32,639 --> 00:02:36,079 Speaker 1: I went undrafted to the Philadelphia Eagles. UM, didn't make 37 00:02:36,080 --> 00:02:38,120 Speaker 1: the team, got cut by them, got picked up on 38 00:02:38,160 --> 00:02:40,920 Speaker 1: their practice squad a couple of weeks later, got cut 39 00:02:40,919 --> 00:02:44,040 Speaker 1: by them again. Uh. They went over to Chicago, got 40 00:02:44,040 --> 00:02:47,200 Speaker 1: caught by Chicago, went over to Cleveland, got on the 41 00:02:47,280 --> 00:02:50,760 Speaker 1: active roster very briefly, got cut on the active roster, 42 00:02:51,160 --> 00:02:54,040 Speaker 1: moved down to the practice squad. Then I chose to 43 00:02:54,080 --> 00:02:57,880 Speaker 1: go to Kansas City that second year off season wasn't 44 00:02:57,880 --> 00:03:00,400 Speaker 1: a wise decision. They told me to lose thirty pounds 45 00:03:00,440 --> 00:03:03,600 Speaker 1: and and try to be a fullback. I wasn't. Obviously, 46 00:03:03,639 --> 00:03:06,040 Speaker 1: did not make that roster, was on the streets for 47 00:03:06,080 --> 00:03:08,560 Speaker 1: a little while, got picked up in an opportunity to 48 00:03:08,600 --> 00:03:12,200 Speaker 1: go to Arizona's practice squad, got cut by them, went 49 00:03:12,240 --> 00:03:16,120 Speaker 1: back to Cleveland under a second regime. First was Romeo Cornell, 50 00:03:16,200 --> 00:03:21,000 Speaker 1: then Mangini didn't go any better. I got cut by them. Uh. 51 00:03:21,040 --> 00:03:24,559 Speaker 1: And then I got my third training camp down in Tennessee, 52 00:03:24,720 --> 00:03:29,000 Speaker 1: and that's really where everything started to change for me mentally, 53 00:03:29,800 --> 00:03:32,919 Speaker 1: which as a as a fullback is is the primary 54 00:03:33,040 --> 00:03:36,520 Speaker 1: aspect of that position is having your mindset right. Um. 55 00:03:36,560 --> 00:03:39,440 Speaker 1: And our fourth preseason game was against the New Orleans Saints, 56 00:03:39,880 --> 00:03:42,200 Speaker 1: and I went out and said, this is a make 57 00:03:42,240 --> 00:03:44,240 Speaker 1: it or break it kind of game for me. I'm 58 00:03:44,280 --> 00:03:47,360 Speaker 1: either gonna get on I R or I'm never gonna 59 00:03:47,360 --> 00:03:51,000 Speaker 1: get an opportunity again. Um. And so I played my 60 00:03:51,080 --> 00:03:53,800 Speaker 1: heart out and the Saints called put me on their 61 00:03:53,840 --> 00:03:57,240 Speaker 1: practice squad, and that's where I ultimately broke in and 62 00:03:57,280 --> 00:04:00,960 Speaker 1: got into becoming an active member of the team. Very 63 00:04:01,000 --> 00:04:03,920 Speaker 1: proud to say I climbed the ranks. I ended one year. 64 00:04:03,960 --> 00:04:08,240 Speaker 1: It's the number one ranked player at the fullback position. UM. 65 00:04:08,280 --> 00:04:10,800 Speaker 1: And I was in New Orleans for four seasons and 66 00:04:10,960 --> 00:04:14,040 Speaker 1: finished uh in and they didn't sign me back. So 67 00:04:14,080 --> 00:04:16,640 Speaker 1: I went up to Detroit they had I was there 68 00:04:16,640 --> 00:04:19,240 Speaker 1: for a year, got cut by them, and then had 69 00:04:19,279 --> 00:04:22,520 Speaker 1: the most interesting moment of my probably my journey. After 70 00:04:22,560 --> 00:04:25,160 Speaker 1: all that said and done, I went to Dallas. They 71 00:04:25,160 --> 00:04:27,080 Speaker 1: gave me a signing bonus. I was there for about 72 00:04:27,120 --> 00:04:29,480 Speaker 1: three weeks, barely put on a helmet, and then they 73 00:04:29,600 --> 00:04:32,840 Speaker 1: unexpectedly cut me. And that was That was about the 74 00:04:32,839 --> 00:04:35,680 Speaker 1: time when I called my agent. I said, hey, listen, 75 00:04:35,760 --> 00:04:38,640 Speaker 1: I've been doing this finance stuff. I you know, I 76 00:04:38,680 --> 00:04:41,240 Speaker 1: had my first daughter. I think I gotta go start 77 00:04:41,279 --> 00:04:44,800 Speaker 1: my life beyond UM but truly New Orleans. You know, 78 00:04:44,800 --> 00:04:48,280 Speaker 1: I named my my daughter's middle names Nola. Changed my 79 00:04:48,320 --> 00:04:51,760 Speaker 1: life and forever grateful for the opportunity that the game 80 00:04:51,800 --> 00:04:54,680 Speaker 1: of football has given me and my family. You know, 81 00:04:54,720 --> 00:04:56,560 Speaker 1: one of things you said, Jed, and a lot of 82 00:04:56,560 --> 00:05:00,640 Speaker 1: times when players get released, we here here cut and 83 00:05:00,680 --> 00:05:03,080 Speaker 1: you end up on the street, but you just shared 84 00:05:03,839 --> 00:05:07,320 Speaker 1: you were doing something. It sounds like we're doing finances 85 00:05:07,400 --> 00:05:10,599 Speaker 1: doing that time. Would you why don't you speak to 86 00:05:10,720 --> 00:05:15,480 Speaker 1: some legends and some current players who maybe still are 87 00:05:15,560 --> 00:05:19,479 Speaker 1: not on the team what you did when you did 88 00:05:19,520 --> 00:05:22,560 Speaker 1: get released. Literally you were not on the streets, so 89 00:05:22,720 --> 00:05:26,000 Speaker 1: kind to share that with us. Absolutely, And so that's, 90 00:05:26,160 --> 00:05:29,400 Speaker 1: you know something I challenged myself again, going back to 91 00:05:29,440 --> 00:05:32,800 Speaker 1: that kind of journaling mindset every time I got cut. 92 00:05:33,400 --> 00:05:36,520 Speaker 1: It is that pain, it is that anger. But then 93 00:05:36,520 --> 00:05:39,320 Speaker 1: I started asking myself, well, what could I have done? 94 00:05:39,720 --> 00:05:42,240 Speaker 1: How are those guys making it? Why wasn't it me? 95 00:05:42,960 --> 00:05:46,120 Speaker 1: And that was a list I started to create. Actually 96 00:05:46,160 --> 00:05:50,480 Speaker 1: call it rookie to veteran, but it was behaviors and principles. 97 00:05:50,960 --> 00:05:54,799 Speaker 1: I watched great players perform that I simply just took. 98 00:05:55,360 --> 00:05:57,760 Speaker 1: And that was part of what I was doing each 99 00:05:57,760 --> 00:05:59,919 Speaker 1: time I got cut and go, you know, in transit, 100 00:06:00,000 --> 00:06:03,280 Speaker 1: shon or on the streets, was finding what that next 101 00:06:03,320 --> 00:06:05,880 Speaker 1: behavior I was going to put into my regiment and 102 00:06:06,080 --> 00:06:09,240 Speaker 1: add to my tool belt. Um and then beyond the 103 00:06:09,279 --> 00:06:14,680 Speaker 1: game off the field, the reality was I was financially illiterate. 104 00:06:14,800 --> 00:06:18,320 Speaker 1: My rookie year, I got some good paychecks, some active checks, 105 00:06:18,800 --> 00:06:21,039 Speaker 1: and they came and went the day that you know, 106 00:06:21,080 --> 00:06:24,080 Speaker 1: I cash them. And you know, I will say my 107 00:06:24,160 --> 00:06:27,120 Speaker 1: first big purchase was an engagement ring. And my wife 108 00:06:27,160 --> 00:06:29,760 Speaker 1: and I are still happily married, but I will tell 109 00:06:29,800 --> 00:06:32,920 Speaker 1: her to this day that was a very poor financial decision. 110 00:06:33,520 --> 00:06:35,920 Speaker 1: And it woke me up to the reality that even 111 00:06:35,920 --> 00:06:39,400 Speaker 1: though you know, I come from an academic family, I 112 00:06:39,480 --> 00:06:42,800 Speaker 1: had very little understanding around the concept of money. And 113 00:06:42,880 --> 00:06:45,599 Speaker 1: I dove in. I went to a bookstore and started 114 00:06:45,640 --> 00:06:48,800 Speaker 1: just buying, you know, the financial gurus. And finally I 115 00:06:48,839 --> 00:06:53,880 Speaker 1: had a former NFL veteran, a brother, challenged me and say, hey, man, 116 00:06:54,360 --> 00:06:56,680 Speaker 1: I've been giving you fish and feeding you fish, but 117 00:06:56,720 --> 00:06:58,760 Speaker 1: if you really want to know, you gotta learn to 118 00:06:58,800 --> 00:07:01,679 Speaker 1: fish yourself. And he challenge me and said, start studying 119 00:07:01,680 --> 00:07:05,240 Speaker 1: for your certification and financial planning. And that is a 120 00:07:05,240 --> 00:07:07,719 Speaker 1: a long process. You know, it took me two or 121 00:07:07,760 --> 00:07:10,680 Speaker 1: three years to to complete, but it gives you a 122 00:07:10,680 --> 00:07:16,120 Speaker 1: fundamental understanding in a holistic view of money, not just investing, 123 00:07:16,560 --> 00:07:20,760 Speaker 1: but how insurance and taxes and estate planning and cash management, 124 00:07:20,760 --> 00:07:23,840 Speaker 1: all those things tied into it. And so it was 125 00:07:23,920 --> 00:07:28,360 Speaker 1: truly building this kind of off the field knowledge and 126 00:07:28,440 --> 00:07:32,040 Speaker 1: having guys in the locker room asked me questions about 127 00:07:32,080 --> 00:07:35,000 Speaker 1: not just the NFL benefits, but about how money and 128 00:07:35,040 --> 00:07:37,960 Speaker 1: the game and the world works. That really led me 129 00:07:38,120 --> 00:07:40,520 Speaker 1: down the road I was on. But I couldn't be 130 00:07:40,600 --> 00:07:44,520 Speaker 1: more proud to say I was earning that CFP through 131 00:07:44,560 --> 00:07:47,640 Speaker 1: getting cut, through being on the streets, and even once 132 00:07:47,720 --> 00:07:49,560 Speaker 1: I was starting to make it in New Orleans, it 133 00:07:49,680 --> 00:07:52,240 Speaker 1: was like, Hey, I gets sneak in a book or 134 00:07:52,280 --> 00:07:55,040 Speaker 1: something on our flight or on our bus and and 135 00:07:55,080 --> 00:07:59,160 Speaker 1: get a little bit of time invested there. Now, let's 136 00:07:59,160 --> 00:08:01,200 Speaker 1: go back to the plane career. What was it like 137 00:08:01,280 --> 00:08:06,280 Speaker 1: when you finally had an opportunity to play in in 138 00:08:06,360 --> 00:08:10,720 Speaker 1: a game with the Saints? What was so? It was? So? 139 00:08:11,240 --> 00:08:14,280 Speaker 1: I'll give you two plays, um. The first one was 140 00:08:14,320 --> 00:08:17,360 Speaker 1: my first first play with the first team my rookie 141 00:08:17,440 --> 00:08:21,040 Speaker 1: year in Philadelphia, and you will know this, man. I 142 00:08:21,040 --> 00:08:23,520 Speaker 1: I got to go line up at fullback against the 143 00:08:23,560 --> 00:08:26,440 Speaker 1: first team Eagles defense and saw Brian Dawkins coming through 144 00:08:26,440 --> 00:08:29,360 Speaker 1: the hole. And he was one of those guys I 145 00:08:29,400 --> 00:08:32,320 Speaker 1: grew up, I grew up watching I knew I know 146 00:08:32,400 --> 00:08:36,560 Speaker 1: who weapon X is and I remember him coming through 147 00:08:36,600 --> 00:08:39,560 Speaker 1: the hole, and I didn't see Dawkins. I saw Weapon X, 148 00:08:39,720 --> 00:08:42,960 Speaker 1: and I was intimidated. I was humbled, and he knocked 149 00:08:42,960 --> 00:08:46,439 Speaker 1: me in the next Tuesday and I got up off 150 00:08:46,480 --> 00:08:49,880 Speaker 1: the ground, and in that time, you realize confidence is 151 00:08:50,040 --> 00:08:51,920 Speaker 1: king man. I had to believe I was going to 152 00:08:52,040 --> 00:08:54,720 Speaker 1: be out there. And so why I said my third 153 00:08:54,840 --> 00:08:57,800 Speaker 1: year was such a pivotal year for me was it 154 00:08:57,920 --> 00:09:00,000 Speaker 1: was the first training camp, it was the first office 155 00:09:00,000 --> 00:09:02,280 Speaker 1: season that I walked out onto the field, and I 156 00:09:02,360 --> 00:09:05,800 Speaker 1: believed I was the baddest dude on that field. I 157 00:09:05,840 --> 00:09:09,360 Speaker 1: hadn't really really embodied that yet, and as a fullback, 158 00:09:09,480 --> 00:09:13,160 Speaker 1: I had to have that mindset um. And so really 159 00:09:13,200 --> 00:09:16,040 Speaker 1: my my journey in New Orleans was even unique because 160 00:09:16,080 --> 00:09:19,680 Speaker 1: the only reason I got reps with the starters was 161 00:09:19,760 --> 00:09:22,680 Speaker 1: because we were going through the lockout and the collective 162 00:09:22,679 --> 00:09:25,560 Speaker 1: bargaining dream and said any free agents had to wait 163 00:09:25,600 --> 00:09:28,320 Speaker 1: a couple more days, and they had just you know, 164 00:09:28,480 --> 00:09:31,839 Speaker 1: bought or traded for a free agent fullback who was 165 00:09:31,880 --> 00:09:35,680 Speaker 1: supposed to be the starter. Um. And so in those 166 00:09:35,720 --> 00:09:38,120 Speaker 1: two or three days kind of transition period, that's when 167 00:09:38,160 --> 00:09:41,000 Speaker 1: I got the opportunity to be amongst the best and 168 00:09:41,040 --> 00:09:44,880 Speaker 1: be amongst the starting circle and I I felt that 169 00:09:44,960 --> 00:09:47,880 Speaker 1: taste and I got that feeling, that confidence was there, 170 00:09:47,880 --> 00:09:49,360 Speaker 1: and I said, I never want to let this go. 171 00:09:49,800 --> 00:09:52,400 Speaker 1: And truly that player never really even took my reps 172 00:09:52,480 --> 00:09:55,439 Speaker 1: or took my position away from me. So from that 173 00:09:55,480 --> 00:09:58,040 Speaker 1: first hit with Dotkins to the hits in the training 174 00:09:58,080 --> 00:10:00,920 Speaker 1: camp when I would go in and guys would flip 175 00:10:00,960 --> 00:10:04,640 Speaker 1: the script and start to fear me, that was that 176 00:10:04,720 --> 00:10:08,160 Speaker 1: was really the change in mindset of me becoming a 177 00:10:08,240 --> 00:10:12,280 Speaker 1: lead block and fullback. And Jed, I'm looking at you. 178 00:10:12,360 --> 00:10:15,640 Speaker 1: May you have this nice looking hair in this name. 179 00:10:17,080 --> 00:10:19,960 Speaker 1: How did you decide what made you want to be 180 00:10:20,000 --> 00:10:25,000 Speaker 1: a fullback? Oh? The line is not long for fullback. 181 00:10:25,080 --> 00:10:27,640 Speaker 1: So I was a linebacker in high school. I was 182 00:10:27,679 --> 00:10:30,480 Speaker 1: a tight end, kind of a receiving tight end in college. 183 00:10:31,440 --> 00:10:34,120 Speaker 1: But once you you transition from college to the NFL. 184 00:10:34,360 --> 00:10:36,760 Speaker 1: I stood next to some of the tight ends up 185 00:10:36,760 --> 00:10:39,440 Speaker 1: there at six six six five, I'm about six one. 186 00:10:39,960 --> 00:10:42,800 Speaker 1: They run four fives. I run a five flat. So 187 00:10:42,880 --> 00:10:45,640 Speaker 1: it wasn't so much a choice position change. It was 188 00:10:45,720 --> 00:10:48,480 Speaker 1: more if you want to keep going, you're gonna have 189 00:10:48,520 --> 00:10:52,480 Speaker 1: to learn a new skill set. And really what the 190 00:10:52,520 --> 00:10:57,120 Speaker 1: transition for me into the NFL, was was realizing fullback 191 00:10:57,200 --> 00:10:59,599 Speaker 1: is a selfless position. No longer was I going to 192 00:10:59,640 --> 00:11:01,280 Speaker 1: be the guy with my name in the paper. I 193 00:11:01,320 --> 00:11:03,600 Speaker 1: was going to be setting up the guy to get 194 00:11:03,600 --> 00:11:06,480 Speaker 1: his name in the paper. And I really had to 195 00:11:07,400 --> 00:11:10,959 Speaker 1: embody the idea that the position is much more one 196 00:11:11,040 --> 00:11:14,160 Speaker 1: of will than of skill. Are you willing to go 197 00:11:14,360 --> 00:11:16,960 Speaker 1: into the whole and do the work that very few 198 00:11:17,000 --> 00:11:20,800 Speaker 1: want to? Um So it wasn't It wasn't my first choice. 199 00:11:21,280 --> 00:11:26,000 Speaker 1: But that's selfless, that that mindset and really the discipline 200 00:11:26,040 --> 00:11:29,880 Speaker 1: to go play that part. It's it's transcended into kind 201 00:11:29,920 --> 00:11:32,439 Speaker 1: of what I do now in helping people lead their 202 00:11:32,440 --> 00:11:38,240 Speaker 1: way financially, but also just the the ability to uh 203 00:11:38,280 --> 00:11:41,880 Speaker 1: to control my mind, to control control my message to 204 00:11:42,000 --> 00:11:45,800 Speaker 1: myself to wake up and manifest my future, because that's 205 00:11:45,800 --> 00:11:47,520 Speaker 1: what I would have to do on the field. You know, 206 00:11:47,720 --> 00:11:50,040 Speaker 1: I didn't believe I was the baddest dude on there. 207 00:11:50,400 --> 00:11:53,560 Speaker 1: I repeatedly looked in a mirror and told myself I was. 208 00:11:54,040 --> 00:11:57,240 Speaker 1: And that's when things started to change. You Know, you 209 00:11:57,280 --> 00:12:00,000 Speaker 1: mentioned someone he came down to the full back position. 210 00:12:00,120 --> 00:12:04,960 Speaker 1: You said it was the will many times over the skill. 211 00:12:05,840 --> 00:12:09,839 Speaker 1: Now as we transition into finance man. One of the 212 00:12:09,920 --> 00:12:12,079 Speaker 1: things in these questions I'll ask you, I'm thinking about, 213 00:12:12,120 --> 00:12:14,800 Speaker 1: how do you get guys It's one thing to have 214 00:12:14,920 --> 00:12:19,880 Speaker 1: the skill that they need, but how in finances? And 215 00:12:19,920 --> 00:12:21,719 Speaker 1: I'll ask you this a little later on in this 216 00:12:21,880 --> 00:12:24,520 Speaker 1: and maybe you'll talk about it in the questions, how 217 00:12:24,559 --> 00:12:28,520 Speaker 1: do you get legends and players to have the will 218 00:12:29,360 --> 00:12:31,719 Speaker 1: to want to manage their finances? So let me take 219 00:12:31,760 --> 00:12:34,920 Speaker 1: you here. Among of the players, one of the biggest 220 00:12:35,000 --> 00:12:40,680 Speaker 1: misconceptions about an NFL career and their own financial well being. 221 00:12:43,679 --> 00:12:47,760 Speaker 1: That's a one you know coming in. I think one 222 00:12:47,760 --> 00:12:50,319 Speaker 1: of the biggest misconceptions is we get paid all all 223 00:12:50,400 --> 00:12:52,920 Speaker 1: year and not just during the season, and so the 224 00:12:52,960 --> 00:12:57,400 Speaker 1: mismanagement begins with that first paycheck. Um. But I think 225 00:12:57,440 --> 00:13:00,120 Speaker 1: guys have a have a tough time at twenty to 226 00:13:00,320 --> 00:13:05,079 Speaker 1: imagining themselves at sixty two, let alone even just thirty two, 227 00:13:05,440 --> 00:13:09,160 Speaker 1: and to truly see this this financial dream and this 228 00:13:09,240 --> 00:13:12,600 Speaker 1: opportunity is to not be rich. And one of the 229 00:13:12,600 --> 00:13:15,800 Speaker 1: things I really love to share with legends and guys 230 00:13:15,880 --> 00:13:19,559 Speaker 1: playing is there is a big difference between rich and wealth. 231 00:13:20,280 --> 00:13:23,240 Speaker 1: Rich means I have money today, and being rich is 232 00:13:23,280 --> 00:13:25,240 Speaker 1: not a bad thing. Being rich is a great thing 233 00:13:26,240 --> 00:13:29,520 Speaker 1: as long as it transitions to wealth, and wealth means 234 00:13:29,720 --> 00:13:31,400 Speaker 1: it's not that I have money today, it's I have 235 00:13:31,520 --> 00:13:34,640 Speaker 1: many tomorrows that I don't have to worry about money. 236 00:13:34,720 --> 00:13:37,320 Speaker 1: And I didn't know the difference between the two, and 237 00:13:37,400 --> 00:13:41,600 Speaker 1: it's it's really kind of a foreign language for for 238 00:13:41,720 --> 00:13:44,400 Speaker 1: many of us to think, what is wealth? What does 239 00:13:44,440 --> 00:13:46,720 Speaker 1: it mean? How do you build it, how do you 240 00:13:46,840 --> 00:13:48,800 Speaker 1: manage it? And then how do you transfer it to 241 00:13:48,880 --> 00:13:52,559 Speaker 1: your family? So one of the biggest misconceptions is I 242 00:13:52,960 --> 00:13:55,160 Speaker 1: made it, I'm a rich rookie, or I made it 243 00:13:55,240 --> 00:13:58,640 Speaker 1: I just got my second contract. And the reality is 244 00:13:58,760 --> 00:14:01,360 Speaker 1: you are not wealthy yet until that money is going 245 00:14:01,440 --> 00:14:05,200 Speaker 1: to work for you. And you have made this this game. 246 00:14:05,440 --> 00:14:08,360 Speaker 1: You've taken the dream and the opportunity and made it 247 00:14:08,559 --> 00:14:14,840 Speaker 1: your your employee. Once your legends and players begin to 248 00:14:14,880 --> 00:14:19,120 Speaker 1: assess in effects the facts of where they really are. 249 00:14:20,120 --> 00:14:23,720 Speaker 1: So that's a great question. And you know how precious 250 00:14:23,760 --> 00:14:26,960 Speaker 1: the time in the game is. Uh. You know, most 251 00:14:27,000 --> 00:14:29,440 Speaker 1: guys are fortunate to make it to that three. Get 252 00:14:29,480 --> 00:14:33,480 Speaker 1: the investing into the pension. I would begin with, you know, 253 00:14:33,720 --> 00:14:37,680 Speaker 1: your your second year, rookie year is just save as 254 00:14:37,760 --> 00:14:40,960 Speaker 1: much as you can just just get survived, focus on 255 00:14:41,000 --> 00:14:44,000 Speaker 1: the game, be get job number one. That's the other 256 00:14:44,040 --> 00:14:46,520 Speaker 1: piece of this is is so many guys wonder well 257 00:14:46,720 --> 00:14:49,160 Speaker 1: off the field, how can I go get investments or 258 00:14:49,160 --> 00:14:51,520 Speaker 1: how can I go start this or start that. The 259 00:14:51,720 --> 00:14:55,200 Speaker 1: greatest influencer and impact or on your wealth is going 260 00:14:55,240 --> 00:14:58,320 Speaker 1: to be your career. Making it one more season, focusing 261 00:14:58,320 --> 00:15:02,480 Speaker 1: on job number one there, that's always a priority. But 262 00:15:02,800 --> 00:15:05,360 Speaker 1: as we look at it, we gotta begin, you know, 263 00:15:05,560 --> 00:15:08,800 Speaker 1: with our cash management. I think that happens year one, 264 00:15:08,880 --> 00:15:12,000 Speaker 1: year two, and then as you get into three and four, 265 00:15:12,240 --> 00:15:15,720 Speaker 1: you start to look at the amount of benefits the 266 00:15:15,800 --> 00:15:19,240 Speaker 1: game can deliver to you. Why our union is so 267 00:15:19,400 --> 00:15:23,120 Speaker 1: vital and strong is because it does provide for us 268 00:15:24,000 --> 00:15:30,240 Speaker 1: a financial you know, jump start to our lives um 269 00:15:30,480 --> 00:15:33,720 Speaker 1: and so starting to understand how those programs work and 270 00:15:33,720 --> 00:15:37,000 Speaker 1: how to maximize them and then come five years and 271 00:15:37,040 --> 00:15:39,240 Speaker 1: beyond is when you can really start to look at 272 00:15:39,320 --> 00:15:42,520 Speaker 1: and say, okay, I have my foundation. I not only 273 00:15:42,560 --> 00:15:45,480 Speaker 1: have that, but I have a transition account that I 274 00:15:45,520 --> 00:15:49,080 Speaker 1: always try to tell players protect two years of cash 275 00:15:49,160 --> 00:15:52,640 Speaker 1: because that those transition years are going to be extremely challenging. 276 00:15:53,280 --> 00:15:55,480 Speaker 1: But over that five years and once you're starting to 277 00:15:55,600 --> 00:15:58,160 Speaker 1: look at it and see how the game can impact you. 278 00:15:58,280 --> 00:16:01,040 Speaker 1: Beyond that is when you can start to look down 279 00:16:01,080 --> 00:16:03,400 Speaker 1: and say, what am I passionate about? What do I 280 00:16:03,440 --> 00:16:05,920 Speaker 1: want to continue to learn about, and how do I 281 00:16:06,000 --> 00:16:10,000 Speaker 1: then transition that into something as an income stream off 282 00:16:10,000 --> 00:16:16,000 Speaker 1: the field? So jed, most careers are like yours, not 283 00:16:16,120 --> 00:16:20,560 Speaker 1: like Drew Drew brees right now. So with that in mind, 284 00:16:21,440 --> 00:16:26,120 Speaker 1: what what does that mean for the financial help the 285 00:16:26,200 --> 00:16:29,080 Speaker 1: players and legends? In other words, what do they need 286 00:16:29,120 --> 00:16:33,800 Speaker 1: to understand? Uh? And what are the oldest unique peculiaritives 287 00:16:33,800 --> 00:16:38,480 Speaker 1: when you don't have a loan sustained career. Yes, And 288 00:16:38,560 --> 00:16:43,640 Speaker 1: for the vast minority who get to have a career 289 00:16:43,680 --> 00:16:47,160 Speaker 1: and say, hey, I don't have to work again, um, 290 00:16:47,200 --> 00:16:50,520 Speaker 1: this is the game has given me enough more and 291 00:16:50,560 --> 00:16:53,120 Speaker 1: more power to you. For the other ninety nine nine 292 00:16:53,160 --> 00:16:56,280 Speaker 1: percent of us, UM, I would look at my time 293 00:16:56,440 --> 00:17:00,200 Speaker 1: in the game and my time playing and in the 294 00:17:00,200 --> 00:17:03,920 Speaker 1: off seasons, I would begin to develop interests, skills that 295 00:17:03,960 --> 00:17:07,080 Speaker 1: are going to translate. I would begin to build my network. 296 00:17:07,560 --> 00:17:09,560 Speaker 1: I think that is one of the biggest failures of 297 00:17:09,640 --> 00:17:12,919 Speaker 1: guys in the league is we want to remain exclusive, 298 00:17:13,000 --> 00:17:16,920 Speaker 1: we want to remain private when at that time every 299 00:17:17,000 --> 00:17:20,720 Speaker 1: door in America would open to you. Everybody opens the 300 00:17:20,760 --> 00:17:24,120 Speaker 1: door for a current NFL player, not everyone is open 301 00:17:24,240 --> 00:17:27,360 Speaker 1: for a former NFL player. And so I would challenge 302 00:17:27,400 --> 00:17:31,000 Speaker 1: guys to continually get out and network um and then 303 00:17:31,080 --> 00:17:34,719 Speaker 1: really just looking at how can I leverage what I 304 00:17:34,800 --> 00:17:38,240 Speaker 1: am and what I have been around. I I am 305 00:17:38,280 --> 00:17:40,960 Speaker 1: not Drew Brees, but I've been six ft from greatness. 306 00:17:41,040 --> 00:17:43,480 Speaker 1: I've seen the best in the world operate on a 307 00:17:43,560 --> 00:17:48,679 Speaker 1: daily basis, the skills and the disciplines in me translating 308 00:17:48,720 --> 00:17:51,480 Speaker 1: to anything and everything that I'm going to do. And 309 00:17:52,000 --> 00:17:55,480 Speaker 1: I really want more players to to stand on that 310 00:17:55,600 --> 00:17:58,000 Speaker 1: fact that I got to go to work, but I 311 00:17:58,080 --> 00:18:00,560 Speaker 1: am miles ahead of everyone that I'm going to compete 312 00:18:00,640 --> 00:18:04,520 Speaker 1: with because they don't understand the level of intensity or 313 00:18:04,520 --> 00:18:08,240 Speaker 1: the level of uh of discipline that I've had to 314 00:18:08,560 --> 00:18:11,760 Speaker 1: develop to become who I am UH. And so I 315 00:18:11,760 --> 00:18:14,160 Speaker 1: would look at it as most guys are like me. 316 00:18:14,880 --> 00:18:18,040 Speaker 1: Most guys are going to need a second career. What 317 00:18:18,200 --> 00:18:21,760 Speaker 1: in your your journey can you take away? What in 318 00:18:21,840 --> 00:18:25,720 Speaker 1: your game of football can you transition into life after? 319 00:18:26,400 --> 00:18:29,440 Speaker 1: And that doesn't have to be coaching and broadcasting. Those 320 00:18:29,480 --> 00:18:34,080 Speaker 1: are great careers, but just your time management, your team playing, 321 00:18:34,320 --> 00:18:38,959 Speaker 1: your your functionality will be desired by so many different 322 00:18:39,040 --> 00:18:44,920 Speaker 1: corporations and leaders. Hey Jed, now, what you've been cut 323 00:18:44,960 --> 00:18:49,439 Speaker 1: as often as you were? Was that? Was that the 324 00:18:49,480 --> 00:18:52,760 Speaker 1: thing that triggered you to want to learn about finances 325 00:18:52,800 --> 00:18:57,080 Speaker 1: and become a financial partner? It definitely played into it, 326 00:18:57,160 --> 00:19:00,560 Speaker 1: you know. And I get to say I was fortunate 327 00:19:00,680 --> 00:19:03,679 Speaker 1: to be cut so many times because my career was 328 00:19:03,760 --> 00:19:07,320 Speaker 1: over before it even began, multiple times, and so it 329 00:19:07,359 --> 00:19:10,240 Speaker 1: did show me the longevity of the game is going 330 00:19:10,320 --> 00:19:13,920 Speaker 1: to pass me by very quickly. Um. And so from 331 00:19:13,920 --> 00:19:16,560 Speaker 1: a financial perspective, it showed me, well, I have to 332 00:19:16,600 --> 00:19:21,000 Speaker 1: be preparing today for ten thirty years into the future. 333 00:19:21,840 --> 00:19:25,040 Speaker 1: But what what else it also did was it gave 334 00:19:25,080 --> 00:19:30,320 Speaker 1: me the blessing of failure. And people have a very 335 00:19:30,359 --> 00:19:33,920 Speaker 1: interesting reaction to that. But I think in business, in life, 336 00:19:33,960 --> 00:19:36,000 Speaker 1: as an athlete, one of the best things you can 337 00:19:36,040 --> 00:19:39,200 Speaker 1: hear is no, because it closes the door and it 338 00:19:39,840 --> 00:19:42,800 Speaker 1: challenges you to find a better way. Again, when I 339 00:19:42,840 --> 00:19:45,360 Speaker 1: would get cut, I would go and look at what 340 00:19:45,480 --> 00:19:48,440 Speaker 1: was Dawkins doing, What was the twenty year kicker doing? 341 00:19:48,480 --> 00:19:51,480 Speaker 1: What was it fifteen year offensive alignment doing what were 342 00:19:51,520 --> 00:19:55,600 Speaker 1: all these guys doing that I didn't do? And so 343 00:19:56,359 --> 00:19:59,600 Speaker 1: being told no forced me into that realization that I 344 00:19:59,640 --> 00:20:01,920 Speaker 1: needed get better. And I don't know if I would 345 00:20:01,920 --> 00:20:04,359 Speaker 1: have achieved what I did had I not been told 346 00:20:04,359 --> 00:20:08,000 Speaker 1: no and cut so many times. So the reality that, 347 00:20:08,119 --> 00:20:11,639 Speaker 1: you know, having having your contract be taken away and 348 00:20:11,640 --> 00:20:15,160 Speaker 1: no more income wakes you up to the financial lessons 349 00:20:15,640 --> 00:20:18,400 Speaker 1: and then it's you know, challenges you to say, all right, 350 00:20:19,040 --> 00:20:21,120 Speaker 1: this isn't good enough. What are you gonna do? And 351 00:20:21,119 --> 00:20:24,240 Speaker 1: and that's when I wouldn't started getting educated. I love 352 00:20:24,280 --> 00:20:28,120 Speaker 1: how you share with us your definition of rich and wealth, 353 00:20:28,760 --> 00:20:32,360 Speaker 1: because I'm quite sure being in the league, players were 354 00:20:32,480 --> 00:20:36,479 Speaker 1: more cars and all the houses and all those things 355 00:20:37,280 --> 00:20:40,360 Speaker 1: that kind of in your conversations in the locker room, 356 00:20:41,240 --> 00:20:45,000 Speaker 1: did you see Are I think that players thought they 357 00:20:45,040 --> 00:20:47,760 Speaker 1: had wealth when they had cars and things like that 358 00:20:48,560 --> 00:20:53,439 Speaker 1: versus no, no Jit, the school of jit. Uh, you 359 00:20:53,480 --> 00:20:56,639 Speaker 1: guys are just rich? Tell me about that. And you 360 00:20:56,680 --> 00:20:59,639 Speaker 1: know one question I would always ask guys whether it 361 00:20:59,680 --> 00:21:03,960 Speaker 1: was a first rounder, uh, fifty million dollar guy? Was man, 362 00:21:04,240 --> 00:21:07,360 Speaker 1: you think you have so much? Imagine the guy writing 363 00:21:07,400 --> 00:21:11,040 Speaker 1: your paycheck? You know that is a different and when 364 00:21:11,040 --> 00:21:13,120 Speaker 1: you start to look at it through a different lens, 365 00:21:13,160 --> 00:21:16,199 Speaker 1: you start to see the change and you start to 366 00:21:16,280 --> 00:21:19,680 Speaker 1: look at well, how long will this last? How long 367 00:21:19,800 --> 00:21:22,600 Speaker 1: is this lifestyle going to be afforded by what I have? 368 00:21:23,000 --> 00:21:25,720 Speaker 1: And I don't care if you do have the million 369 00:21:25,720 --> 00:21:29,080 Speaker 1: dollar contract. If you're spending spending a half a million 370 00:21:29,080 --> 00:21:31,560 Speaker 1: dollars a quarter a million dollars a year, you're running 371 00:21:31,560 --> 00:21:34,240 Speaker 1: out of money in your forties. And that's a great, 372 00:21:34,400 --> 00:21:37,439 Speaker 1: you know, twenty year time life, but that's not the dream. 373 00:21:37,560 --> 00:21:40,040 Speaker 1: The dream is to have football set you up for life. 374 00:21:40,640 --> 00:21:44,360 Speaker 1: And so yes, one of the realizations for me, with 375 00:21:44,359 --> 00:21:48,480 Speaker 1: with young guys and even myself was that differentiator between 376 00:21:48,560 --> 00:21:52,000 Speaker 1: an asset and a liability. And it sounds so simple, 377 00:21:52,560 --> 00:21:56,080 Speaker 1: but the reality is we need to understand what an 378 00:21:56,119 --> 00:21:59,120 Speaker 1: asset is. None of us have ever bought an asset 379 00:21:59,280 --> 00:22:02,640 Speaker 1: before our days. We've never been introduced to what they 380 00:22:02,640 --> 00:22:05,919 Speaker 1: are or how to buy them. But looking at things 381 00:22:06,000 --> 00:22:08,879 Speaker 1: to purchase that are going to put money back into 382 00:22:08,920 --> 00:22:12,560 Speaker 1: my pocket as opposed to cost me more, that was 383 00:22:12,600 --> 00:22:15,320 Speaker 1: a real awakening moment for me, and I started to 384 00:22:15,440 --> 00:22:18,240 Speaker 1: challenge everything I was buying. You know, I still buy 385 00:22:18,280 --> 00:22:20,280 Speaker 1: and I still spend and you know, I got a wife, 386 00:22:20,280 --> 00:22:23,880 Speaker 1: so we definitely spend money. But I started to look 387 00:22:23,880 --> 00:22:28,160 Speaker 1: at it like, hey this, you know, sure, I could 388 00:22:28,160 --> 00:22:29,919 Speaker 1: go and have a pretty good, you know night or 389 00:22:29,920 --> 00:22:32,600 Speaker 1: two in Vegas, or we can go throw it in 390 00:22:32,640 --> 00:22:35,400 Speaker 1: this thing. Or I could go and you know, get 391 00:22:35,400 --> 00:22:37,520 Speaker 1: my CFP with that, or I can go and do 392 00:22:37,600 --> 00:22:40,760 Speaker 1: other things. What over the long term is going to 393 00:22:41,040 --> 00:22:43,960 Speaker 1: bring money back to me? And I think if young 394 00:22:44,040 --> 00:22:46,560 Speaker 1: players can look at that and say, I can still 395 00:22:46,600 --> 00:22:49,320 Speaker 1: go buy my wants, but I also got to go 396 00:22:49,400 --> 00:22:52,840 Speaker 1: buy some assets, that is one of the most powerful 397 00:22:52,880 --> 00:22:55,840 Speaker 1: tools they can have is saying I know this thing 398 00:22:55,960 --> 00:22:58,840 Speaker 1: is going to return me more down the road. That's 399 00:22:58,880 --> 00:23:02,320 Speaker 1: my priority. Did you take advantage of any of the 400 00:23:02,359 --> 00:23:07,359 Speaker 1: programs available to players and legends? Absolutely not. Not just 401 00:23:07,440 --> 00:23:10,359 Speaker 1: to mention the transition ones around my my body and 402 00:23:10,440 --> 00:23:13,360 Speaker 1: my mind, which were excellent, But while I was playing, 403 00:23:13,480 --> 00:23:17,160 Speaker 1: I got to go to Wharton and Harvard the business 404 00:23:17,160 --> 00:23:21,240 Speaker 1: management entrepreneurial programs, and again a word I'm gonna say 405 00:23:21,320 --> 00:23:25,960 Speaker 1: is those were unbelievable experiences being on those institutions in 406 00:23:26,040 --> 00:23:29,160 Speaker 1: front of those professors. But what was even more important 407 00:23:29,720 --> 00:23:32,879 Speaker 1: was the network. Looking around a fifty other guys in 408 00:23:33,000 --> 00:23:35,800 Speaker 1: our shoes, in our position. Some of them were ten 409 00:23:35,920 --> 00:23:39,080 Speaker 1: fifteen years out of the league, some of them were rookies. 410 00:23:39,560 --> 00:23:41,960 Speaker 1: But looking around and saying, these guys all know, they 411 00:23:42,000 --> 00:23:45,880 Speaker 1: get it, and they're here because they're gonna truly capture 412 00:23:45,920 --> 00:23:49,920 Speaker 1: every opportunity possible. Um. And so I looked at those 413 00:23:49,960 --> 00:23:54,760 Speaker 1: types of things even now. Oddly enough, when I took, 414 00:23:54,840 --> 00:23:58,120 Speaker 1: you know, file for my CFP, it was not a 415 00:23:58,400 --> 00:24:03,119 Speaker 1: reimbursable expense. Now they are now looking at these skills 416 00:24:03,160 --> 00:24:05,800 Speaker 1: that you can develop off the field, and I think 417 00:24:06,760 --> 00:24:10,920 Speaker 1: organizations I hid my CFP, which in today you look 418 00:24:10,960 --> 00:24:13,479 Speaker 1: at a Brandon Copeland. I should have been very vocal 419 00:24:13,520 --> 00:24:15,880 Speaker 1: about what I was doing. I was a bubble guy, 420 00:24:15,880 --> 00:24:17,879 Speaker 1: and I was always afraid that people would think that, 421 00:24:18,080 --> 00:24:21,199 Speaker 1: you know, oh well, just just not focused and he's not, 422 00:24:21,400 --> 00:24:25,040 Speaker 1: you know, doing the job. I think enough people understand 423 00:24:25,119 --> 00:24:28,359 Speaker 1: the modern day athlete has a voice and has a mind. 424 00:24:28,760 --> 00:24:32,479 Speaker 1: And we look at both the social movements as well 425 00:24:32,520 --> 00:24:37,480 Speaker 1: as the business movements of where we are in this world. Um, 426 00:24:37,520 --> 00:24:42,359 Speaker 1: you know, de hopping in Arizona is the latest example 427 00:24:42,400 --> 00:24:45,840 Speaker 1: of man, this cat has his mind straight, and it 428 00:24:45,920 --> 00:24:48,000 Speaker 1: has nothing to do with his performance on the field, 429 00:24:48,320 --> 00:24:52,280 Speaker 1: he's just a businessman off the field. And my my 430 00:24:52,359 --> 00:24:55,280 Speaker 1: favorite quote to a lot of guys in the locker room, 431 00:24:55,560 --> 00:24:59,000 Speaker 1: whether it was Calvin Johnson down to you know, practice 432 00:24:59,000 --> 00:25:02,560 Speaker 1: squad players, Dasies. You know, I'm not a businessman. I'm 433 00:25:02,600 --> 00:25:06,240 Speaker 1: a business comma man. And we got to see ourselves 434 00:25:06,240 --> 00:25:08,240 Speaker 1: that way. We got to be the CEO of our 435 00:25:08,240 --> 00:25:11,320 Speaker 1: own business. And this branding, this n I l s 436 00:25:11,320 --> 00:25:13,919 Speaker 1: in the college world and as well as just the 437 00:25:14,040 --> 00:25:17,720 Speaker 1: NFL opportunity of every day is an interview. Every day 438 00:25:17,760 --> 00:25:21,359 Speaker 1: somebody is looking at a NAST and saying, Hey, who 439 00:25:21,480 --> 00:25:24,240 Speaker 1: is this guy, what is he offer? What is he about? 440 00:25:24,560 --> 00:25:26,639 Speaker 1: And we have to be able to sell ourselves accordingly 441 00:25:27,560 --> 00:25:30,000 Speaker 1: and shout out to the hop man. He actually yeah, 442 00:25:30,080 --> 00:25:33,120 Speaker 1: it did his own contract to in Arizona. He did, 443 00:25:33,200 --> 00:25:37,240 Speaker 1: and did a heck of a job. One of the 444 00:25:37,359 --> 00:25:41,200 Speaker 1: things every NFL player and legend should do to day 445 00:25:41,359 --> 00:25:46,840 Speaker 1: jit to ensure the long term financial success. That's a great, 446 00:25:46,960 --> 00:25:51,040 Speaker 1: great question. Um, this is not gonna be reinventing the wheel. 447 00:25:51,200 --> 00:25:53,560 Speaker 1: I would say the first one, the biggest one is 448 00:25:53,960 --> 00:25:58,760 Speaker 1: writing down your goals, having that conversation with whoever you trust, 449 00:25:58,800 --> 00:26:02,680 Speaker 1: whether that's your house. Whether that's your brother, your parents, 450 00:26:03,040 --> 00:26:05,960 Speaker 1: your advisor, your uncle, I don't care who it is. 451 00:26:06,440 --> 00:26:09,280 Speaker 1: Have that open conversation of what you want to take 452 00:26:09,359 --> 00:26:11,399 Speaker 1: from the game, because we all know the game is 453 00:26:11,400 --> 00:26:13,800 Speaker 1: going to take from us, and we really want to 454 00:26:13,800 --> 00:26:16,760 Speaker 1: be able to see football as something that is given 455 00:26:16,800 --> 00:26:19,639 Speaker 1: and not taken. So what do you want out of 456 00:26:19,640 --> 00:26:22,480 Speaker 1: the game? Write down those goals, and then you begin 457 00:26:22,520 --> 00:26:25,760 Speaker 1: to develop a strategy and a system. What is your 458 00:26:25,760 --> 00:26:28,640 Speaker 1: cash management when you get paychecks, whether the big ones 459 00:26:28,680 --> 00:26:31,760 Speaker 1: while planned, the transition ones, or in your second career, 460 00:26:32,480 --> 00:26:36,200 Speaker 1: where is your purpose behind every dollar you make? Money 461 00:26:36,200 --> 00:26:38,679 Speaker 1: without a purpose is a problem, and so we need 462 00:26:38,720 --> 00:26:41,600 Speaker 1: to employ our dollars and make sure we have before 463 00:26:41,640 --> 00:26:45,240 Speaker 1: the check even arrives, a percentage of where we want 464 00:26:45,440 --> 00:26:49,400 Speaker 1: those dollars to go. And then we can get into efficiencies. 465 00:26:49,520 --> 00:26:52,080 Speaker 1: And as we look at number one of what are 466 00:26:52,119 --> 00:26:55,520 Speaker 1: our goals, we look at vehicles that can be opened. 467 00:26:55,680 --> 00:26:58,400 Speaker 1: I have kids, I want them to have higher education, 468 00:26:58,520 --> 00:27:00,720 Speaker 1: so I opened a five to nine account. I have 469 00:27:00,800 --> 00:27:04,960 Speaker 1: philanthropic or charitable inclinations, so I opened a donor advised fund, 470 00:27:05,600 --> 00:27:08,120 Speaker 1: or I just see the tax system and I say, 471 00:27:08,160 --> 00:27:10,800 Speaker 1: this is something that as a current player, I have 472 00:27:10,840 --> 00:27:14,080 Speaker 1: a lot of after tax money. As a transitioning athlete, 473 00:27:14,119 --> 00:27:17,240 Speaker 1: I have a low income. Can I open a wrath 474 00:27:17,320 --> 00:27:19,959 Speaker 1: account and can I push as much money into this 475 00:27:20,000 --> 00:27:23,240 Speaker 1: wrath account as possible? Because then I have tax free 476 00:27:23,280 --> 00:27:26,399 Speaker 1: growth for life. And so I would look again, what 477 00:27:26,480 --> 00:27:29,560 Speaker 1: are your goals and then finding the vehicle that is 478 00:27:29,560 --> 00:27:33,359 Speaker 1: going to efficiently take you to those goals as good 479 00:27:33,400 --> 00:27:38,240 Speaker 1: as possible. So if we building a financial tool kit JIT, 480 00:27:38,359 --> 00:27:41,560 Speaker 1: we'll call it the JIT kit. How about that for 481 00:27:41,720 --> 00:27:47,560 Speaker 1: players alleges to use? What would be in the two kigit? 482 00:27:47,840 --> 00:27:50,280 Speaker 1: I'll start out my name with a few would it? 483 00:27:50,320 --> 00:27:54,400 Speaker 1: Would Number one be finding a financial planner. I would 484 00:27:54,400 --> 00:27:57,240 Speaker 1: say for a current player, even more than a financial 485 00:27:57,280 --> 00:27:59,080 Speaker 1: planner is going to be a good c p A. 486 00:27:59,680 --> 00:28:04,639 Speaker 1: UM taxes is such a challenge for professional athletes. The 487 00:28:05,640 --> 00:28:08,119 Speaker 1: latest tax code laws have taken away a lot of 488 00:28:08,160 --> 00:28:10,840 Speaker 1: our deductions. Finding a good c p A is the 489 00:28:10,920 --> 00:28:14,680 Speaker 1: first member of your team after your agent. Then definitely 490 00:28:14,720 --> 00:28:17,600 Speaker 1: finding an advisor. And I love to point out this 491 00:28:17,680 --> 00:28:22,200 Speaker 1: word of fiduciary. Fiduciary standard means I have a legal 492 00:28:22,240 --> 00:28:25,919 Speaker 1: liability to put your interest first, and if you would, 493 00:28:26,200 --> 00:28:28,359 Speaker 1: I'll give you a sixty second example of what that 494 00:28:28,400 --> 00:28:33,359 Speaker 1: word fiduciary means. Imagine going into a restaurant and in 495 00:28:33,400 --> 00:28:36,000 Speaker 1: this restaurant, you sit down on the waiter or waitress 496 00:28:36,119 --> 00:28:40,960 Speaker 1: brings you a menu, and on this menu is salad, fish, 497 00:28:41,280 --> 00:28:44,920 Speaker 1: and steak. And they handy the menu and you say, well, 498 00:28:44,920 --> 00:28:47,280 Speaker 1: I don't know what's good here. You're the expert in 499 00:28:47,360 --> 00:28:50,320 Speaker 1: this what what's good? And the server looks at you 500 00:28:50,360 --> 00:28:52,160 Speaker 1: and says, the fish. I think you should go with 501 00:28:52,200 --> 00:28:54,640 Speaker 1: the fish. What they don't have to tell you because 502 00:28:54,680 --> 00:28:56,960 Speaker 1: the fish is on the menu, is that the fish 503 00:28:57,040 --> 00:28:59,240 Speaker 1: is starting to go sour. And the chef said, we 504 00:28:59,320 --> 00:29:01,240 Speaker 1: got to push the fish. And I'll actually give you 505 00:29:01,280 --> 00:29:03,880 Speaker 1: another dollar for every piece of plate of fish that 506 00:29:03,920 --> 00:29:08,680 Speaker 1: you sell. That is not a fiduciary. A fiduciary looks 507 00:29:08,720 --> 00:29:11,560 Speaker 1: at the menu and says, well, the fish is going sour. 508 00:29:11,680 --> 00:29:14,240 Speaker 1: Don't get the fish. I heard you talking about lunch. 509 00:29:14,280 --> 00:29:16,680 Speaker 1: You already had a burger, following that up with a steak, 510 00:29:16,720 --> 00:29:19,680 Speaker 1: red meat probably not the best for you. What the 511 00:29:19,680 --> 00:29:22,200 Speaker 1: best for you in this situation is to order a salad. 512 00:29:22,720 --> 00:29:26,280 Speaker 1: That is a fiduciary somebody who says I cannot and 513 00:29:26,360 --> 00:29:28,880 Speaker 1: will not accept that extra dollar. I'm not going to 514 00:29:28,960 --> 00:29:32,040 Speaker 1: sell you something that's going sour. I want you to 515 00:29:32,120 --> 00:29:35,120 Speaker 1: be in the best thing possible for you, and that 516 00:29:35,280 --> 00:29:38,680 Speaker 1: is a fiduciary. And are there still crooks who hold 517 00:29:38,720 --> 00:29:43,120 Speaker 1: the fiduciary standard. Absolutely, But as you look at advisors, 518 00:29:43,160 --> 00:29:45,960 Speaker 1: that is the first question I asked people is why 519 00:29:46,000 --> 00:29:49,520 Speaker 1: are you not a fiduciary? And let them explain and 520 00:29:49,520 --> 00:29:52,520 Speaker 1: if their reasoning makes sense to you, you can move forward. 521 00:29:52,600 --> 00:29:57,680 Speaker 1: But that is a good standard to place to start. Okay, 522 00:29:57,680 --> 00:29:59,600 Speaker 1: here's a quick question. I'll do some rapids as we 523 00:29:59,720 --> 00:30:02,000 Speaker 1: clull out yet, so let's go around fire. All right. 524 00:30:02,600 --> 00:30:05,520 Speaker 1: The first thing, what's the first clue a guy should 525 00:30:05,560 --> 00:30:09,280 Speaker 1: know that may alarm them that this may not be 526 00:30:10,080 --> 00:30:15,160 Speaker 1: a fiduciary right front edgial person. How they get paid? 527 00:30:15,560 --> 00:30:18,800 Speaker 1: So first question is why are you not a fiduciary? 528 00:30:18,920 --> 00:30:22,040 Speaker 1: Second question is how do you get paid? Do you 529 00:30:22,080 --> 00:30:25,320 Speaker 1: get commissions off of what you sell? Me? Are you do? 530 00:30:25,320 --> 00:30:29,160 Speaker 1: Do you sell different products, different funds, different things? That 531 00:30:29,320 --> 00:30:31,520 Speaker 1: is going to be a red flag. And again there 532 00:30:31,520 --> 00:30:34,400 Speaker 1: are some great people who can hold that designation and 533 00:30:34,840 --> 00:30:37,400 Speaker 1: make commissions and do all that, but you need to 534 00:30:37,400 --> 00:30:40,240 Speaker 1: have clarity around how that person is going to get paid. 535 00:30:40,680 --> 00:30:43,200 Speaker 1: And then the last question would be what exactly are 536 00:30:43,280 --> 00:30:46,000 Speaker 1: your services? Where do you begin? Where do you end? 537 00:30:46,560 --> 00:30:50,160 Speaker 1: Um So the big one around fiduciaries, how do you 538 00:30:50,240 --> 00:30:54,760 Speaker 1: get paid? There's another way you did something. You took 539 00:30:54,800 --> 00:30:59,720 Speaker 1: advantage of programs learning on their own. How much do 540 00:30:59,800 --> 00:31:06,680 Speaker 1: you recommend players doing that? I highly, highly recommend it again, 541 00:31:07,120 --> 00:31:10,719 Speaker 1: and it could be you find something you are infinitely 542 00:31:10,800 --> 00:31:13,880 Speaker 1: curious about. I've met some great guys in the teammates 543 00:31:13,880 --> 00:31:17,520 Speaker 1: who have businesses around hunting. Why because that's what they 544 00:31:17,520 --> 00:31:19,160 Speaker 1: want to wake up, you know, they try to get 545 00:31:19,200 --> 00:31:21,200 Speaker 1: me out at three thirty four in the morning to go, 546 00:31:21,480 --> 00:31:24,000 Speaker 1: you know, shoot some stuff that's just not my jam, 547 00:31:24,320 --> 00:31:27,960 Speaker 1: that's not me. But find something you're infinitely curious about 548 00:31:28,160 --> 00:31:30,680 Speaker 1: and then start looking at how you can create a 549 00:31:30,680 --> 00:31:34,320 Speaker 1: business around it, because you have an opportunity, you have 550 00:31:34,400 --> 00:31:37,080 Speaker 1: a brand, you have the disciplined and you have a 551 00:31:37,080 --> 00:31:41,400 Speaker 1: little financial cushion to be able to live a life 552 00:31:41,400 --> 00:31:43,480 Speaker 1: that very few get to. You know, I get to 553 00:31:43,560 --> 00:31:47,040 Speaker 1: run my own business today because the game of football. 554 00:31:47,320 --> 00:31:49,800 Speaker 1: Had I not play football, I will not be in 555 00:31:49,840 --> 00:31:53,120 Speaker 1: the situation I am. So find something you're curious and 556 00:31:53,120 --> 00:31:56,160 Speaker 1: then start to learn as much as you can, not 557 00:31:56,200 --> 00:32:00,480 Speaker 1: only about the hobby, but about the business. Would recommend 558 00:32:00,480 --> 00:32:03,520 Speaker 1: that players have just as much passion for their finances 559 00:32:04,160 --> 00:32:07,320 Speaker 1: as many of us do our bodies, particularly when we're playing. 560 00:32:08,520 --> 00:32:10,680 Speaker 1: I would give you a third one. I would say, 561 00:32:10,840 --> 00:32:14,200 Speaker 1: have just as much passion for your mind. Invest in 562 00:32:14,240 --> 00:32:16,400 Speaker 1: your mind because that is going to take care of 563 00:32:16,480 --> 00:32:19,640 Speaker 1: both of those feats. And you're right, health well health 564 00:32:19,680 --> 00:32:23,640 Speaker 1: and wealth are two amazing aspects, but our mind is 565 00:32:23,720 --> 00:32:27,720 Speaker 1: really what we need to start protecting and not only recovering, 566 00:32:27,840 --> 00:32:31,200 Speaker 1: but pre habing um. But as we look at that 567 00:32:31,280 --> 00:32:35,520 Speaker 1: investment into our bodies and investment into our careers, I 568 00:32:35,600 --> 00:32:40,960 Speaker 1: want to really truly empower guys to say I captured 569 00:32:41,080 --> 00:32:44,600 Speaker 1: the NFL dream. How few we see those statistics, we 570 00:32:44,640 --> 00:32:47,400 Speaker 1: see the documentaries. How few really get to walk out 571 00:32:47,400 --> 00:32:50,240 Speaker 1: of a locker room and say I've captured it. So 572 00:32:50,880 --> 00:32:52,760 Speaker 1: I'm going to give a biased dancer at the end 573 00:32:52,800 --> 00:32:55,720 Speaker 1: and say we we gotta handle our money. And I 574 00:32:55,720 --> 00:32:57,440 Speaker 1: will also say I got to talk to a lot 575 00:32:57,480 --> 00:33:00,800 Speaker 1: of rookies this offseason, and they were very interested in 576 00:33:00,840 --> 00:33:03,920 Speaker 1: the social movement, having the social injustice be a part 577 00:33:03,920 --> 00:33:08,560 Speaker 1: of their voice. Finances is one of the biggest influencers 578 00:33:08,720 --> 00:33:11,720 Speaker 1: in that you want to change your community, teach them 579 00:33:11,760 --> 00:33:13,960 Speaker 1: how to handle their money. You want to make an 580 00:33:14,000 --> 00:33:16,880 Speaker 1: impact in d C or in your city or state. 581 00:33:17,480 --> 00:33:20,760 Speaker 1: Money is going to always talk. So part of this 582 00:33:20,840 --> 00:33:25,080 Speaker 1: movement has to begin in our wallets as we close out. 583 00:33:26,440 --> 00:33:30,880 Speaker 1: What action still would you say to us legends and 584 00:33:31,040 --> 00:33:35,200 Speaker 1: to current players, we should take git So this one 585 00:33:35,320 --> 00:33:37,800 Speaker 1: is going to be UH one and the as I 586 00:33:37,800 --> 00:33:40,760 Speaker 1: have appreciated this has been great. Um, this is gonna 587 00:33:40,800 --> 00:33:45,320 Speaker 1: be eliminating a hazard to your wealth. And insurance is 588 00:33:45,360 --> 00:33:48,320 Speaker 1: not a fun or sexy topic, but I I look 589 00:33:48,360 --> 00:33:52,840 Speaker 1: at rookies to ten year players, two guys five years 590 00:33:52,840 --> 00:33:56,880 Speaker 1: out who have net worths that need protecting. It's called 591 00:33:56,880 --> 00:34:01,560 Speaker 1: an umbrella policy, and it is a catastrophic insurance policy 592 00:34:01,680 --> 00:34:05,800 Speaker 1: that says, I'm protected to five hundred thousand dollars on 593 00:34:05,880 --> 00:34:08,719 Speaker 1: my car insurance. But what happens if I hit something 594 00:34:08,760 --> 00:34:12,360 Speaker 1: and it's a million dollars or God forbid five million dollars? 595 00:34:12,880 --> 00:34:16,160 Speaker 1: You can go get an umbrella policy for one five 596 00:34:16,280 --> 00:34:19,239 Speaker 1: million dollars. That is not going to be very expensive, 597 00:34:19,440 --> 00:34:22,840 Speaker 1: but for a hundred of your listeners, a thousand of 598 00:34:22,880 --> 00:34:26,080 Speaker 1: your listeners. If one or two of them ever use it, 599 00:34:26,080 --> 00:34:29,200 Speaker 1: it will be worth its weight in gold um. And 600 00:34:29,239 --> 00:34:31,719 Speaker 1: so that's that's a hazard to your wealth that we 601 00:34:31,800 --> 00:34:34,800 Speaker 1: really try to eliminate and avoid in the wealth management space. 602 00:34:35,280 --> 00:34:40,640 Speaker 1: Get an umbrella insurance policy. Wow. Yeah, this has been incredible. 603 00:34:41,520 --> 00:34:44,960 Speaker 1: Thanks so much for joining us once again. The book 604 00:34:45,040 --> 00:34:50,000 Speaker 1: is called Your Money Vehicle, How to Begin Driving to 605 00:34:50,280 --> 00:34:55,120 Speaker 1: Financial Freedom. It can be found where jet so you 606 00:34:55,239 --> 00:34:58,759 Speaker 1: can connect with me on our our website, Your Money 607 00:34:58,840 --> 00:35:02,200 Speaker 1: Vehicle dot com as well as my personal website jededia 608 00:35:02,320 --> 00:35:06,200 Speaker 1: Collins dot com. Uh. Social media, I'm at Fullback of 609 00:35:06,280 --> 00:35:10,480 Speaker 1: Finance on Instagram, Twitter and TikTok um. And yes, we 610 00:35:10,560 --> 00:35:14,080 Speaker 1: have actually updated the book Your Money Vehicle into a 611 00:35:14,200 --> 00:35:18,200 Speaker 1: full online virtual course and it is meant to begin 612 00:35:18,400 --> 00:35:22,399 Speaker 1: people on their financial journeys. So welcome any and all 613 00:35:22,520 --> 00:35:25,960 Speaker 1: to to reach out. I love questions, I love to help, 614 00:35:26,160 --> 00:35:28,839 Speaker 1: and I love connected with legends like you, sir, So 615 00:35:29,360 --> 00:35:32,239 Speaker 1: I appreciate it and uh yeah, I enjoy the day. 616 00:35:33,360 --> 00:35:36,600 Speaker 1: Thanks for listening in and the best is yet to come. 617 00:35:39,600 --> 00:35:43,520 Speaker 1: This has been the NFL Legends podcast. To provide feedback 618 00:35:43,640 --> 00:35:46,840 Speaker 1: or request a topic for discussion, email us at NFL 619 00:35:46,960 --> 00:35:57,720 Speaker 1: Legends at nfl dot com.