Read How One NFL Player Is Saving 90% Of His Pay
Copeland embodies the essence of frugality, investing over 60% of his net pay into low-risk, long-term investments, according to Yahoo!Finance. Copeland lives off just 10 – 15% of his NFL income, which roughly translates into $615,000 per year, putting another 30% into his savings. “I’ve literally hoarded money,” he told ESPN’s Michael Rothstein. “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.”
If you think the story ends there, it doesn’t. Copeland also holds two professional degrees – a Bachelors from the University of Pennsylvania and an MBA from the highly prestigious Wharton School of Business at Penn. Though he is a professional football player, these degrees are not going to waste. During the NFLs offseason, Copeland moonlights on Wall Street (remotely) as a stock analyst for Weiss Multi Strategy Advisors.
While some may be tempted to think that Copeland has simply waltzed into good fortune, his strategic positioning has not come without putting in more than his share of the work. “Some kids, they come in with a naiveté and think that they are going to do well academically and their future is all set,” Weiss told ESPN, “So here’s a kid that’s 19 that’s asking questions and understanding the value that Wharton, that Penn education can do for you. So that’s probably what impressed me the most. He did it on his own. He sought us out to come up here and talk to us.”
He impressed Weiss and his colleagues so much that it would be safe to say that even without the NFL career, Copeland would still be very well positioned and doing something that he loves. “I understood then that the actual selling and trading and buying and selling of stocks was actually very intriguing to me,” Copeland told ESPN.
Other athletes who have made wise decisions with their income include fellow Lions teammates Glover Quinn and Ryan Boyles, Philadelphia 76ers’ Michael Carter-Williams, and NBA legend, Milwaukee Buck’s own Junior Bridgeman, who went on to become America’s second largest Wendy’s franchise owner.