Yeah there’s definitely a connection players from the suburbs with healthy home lives tend to be smarter with their money and have better people around them
This was my favorite one from GQ because Jalen was giving guys gems that nobody talks about, especially bout getting a used car or leasing one. No need to buy a brand new supercar when you don't even have the money to afford it.
This is the difference between being raised in a middle class environment and poverty. His values are not based on what you wear, drive or how much money you can flash. We are a product of our environment so it's hard to knock athletes who go crazy and blow their money
A lot of kids get bad advice. Some tell these kids to give it their all in sports and coaches don't even care if their athletes get barely passing grades. If they don't make it to a top tier college or make money out of it, they're stuck after sports. I know a girl who wanted to be a math teacher and got into multiple colleges. She didn't get many scholarships but wanted to be a math teacher. Adults told her to not worth about finances and just go to the best available college. She went to UC Davis with barely any scholarships and is now in $90k debt and is gonna have to pay that all back the rest of her life. She could've went to community college and 2 years at Davis instead and saved a lot of money.
@@xJinRaGna Yeah, like this year I was met with a choice of going to the top 25 worldwide Uni for roughly 140 k dollars for 3 years without the cost of living. I figured I wouldn’t want to spend all that money and went to top 220-340 Uni that is rly cheap (Like 10K for 4 years) Idk if I did the right choice, but I could always try to go to better Uni for masters, or start self-educating myself and trying to get into entrepreneurship or investment.
I was born in poverty and surrounded by it my whole life. And let me tell you when I save up money it’s never just to blow on one designer shirt and when I see my college tuition it’s going to be stretched as far as possible and what I have left over from this first payout I’m going to put into fixing up something around my run down house. Edit: community college btw
@@eve_______ you did the right thing. No need to go into unnecessary debt. When you get out you'll be getting paid the same except now you're not in debt
Jalen is the epitome of a leader and one of the highest character guys you will ever see. Respect to his parents and I'm thankful I was able to watch him play at Bama.
Like many of us would do with our first $1 million dollars, Jalen Hurts got his one spending spree out of the way, he bought jewelry and clothing, but after he got that out of his system, Jalen Hurts was as level headed as he comes across.
Now he's on a contract that could be up to $255m over the next five years. Well deserved, can't wait to see how he contributes to the people around him and his community. Respect!
No matter what amount of wealth you possess, Jalen shows you can truly bring good fortune into your life by spending more on others than on yourself and preparing for your future. This is the advice I needed and I’m far from a million.
I'm huge Eagles fan and this dude has already won me over and he hasn't even started his second season with only four starts under his belt. He seems like a real leader and definitely has the mental toughness to thrive in Philly and in the NFL . I think he has a MVP in his near future and will be the starting QB for Eagles for many years. I really believe in this dude..
Hey Spencer, I notice your expansive book collection in the background. I was wondering if you could do a video on what books you would recommend to your viewers. Thank you. P.S. Jalen comes off as a very frugal and giving guy based on what he did with his money.
I’m a Cowboys fan but Jalen Hurts seems like a good guy. When you’re humble and know that nothing is promised, you treat everything like it’s your last. Gotta love it. Keep it up!
Watching this in 2022 while the eagles are 7-0. Hurts making you eat those words saying you don’t think he’s gonna make it far in the NFL and second round was a stretch 🦅
Spencer, as soon as I watched the Jalen Hurts episode, I thought of you. This young man seems to have a good head on his shoulders, thus he appears to default to making very solid choices. Loved watching him at Alabama and Oklahoma. Another great video, Spencer! Take care. 👊🏾
Huge year for him coming up money wise and he's got a rookie head coach and a coordinator with 1 and half years as coordinator experience. If he has a good year, wins some games as a starter, that gives him years somewhere in the league. If he has a bad year, he could slide out of the league fairly quick. Pulling for him!
One thing I disagree with you is Jalen Hurts should have been a first round draft choice. He will have a long NFL career because he has something that most other QBs coming out of college lack, natural born leadership abilities and he's been a natural born winner at every level.
@@jackblasbalg7936 you have no clue what you are saying....if you even out 500k in an index with an average return of 7% that's 35k a year you could live off of if you live a simple life.
Alright, Jalen Hurts is a seriously nice guy. Very down-to-Earth. I'm shocked that he gave $30k to charity. No doubt this was at the advice of his financial advisor, since that's a tax write-off. It's STILL an amazing gesture though. Charity is something most guys probably never imagine when spending their first million, and yet it can make a lot of sense. I personally hope that he succeeds in the NFL, because this guy really has his priorities straight. Sure, the chains are probably a poor investment, but everyone is allowed to splurge a little bit when they score that first deal. He didn't overdo it, and he will be a good example for other guys entering the league. Edit: My bad, I misunderstood, he gave $60k! The $30k was just the downpayment on a house! Which is an amazing thing to do! I respect this man a lot!
Dude! $15k on remodeling your mom's house? If the work is done well, that's money well-spent! It sounds like he got a decent amount done at a very reasonable price. Giving back to your parents is a nice gesture as well. He doesn't seem to be wasting nearly $100k on a vehicle either, so home remodeling is probably really smart. At this point I'm commenting as I'm watching, so I apologize for leaving so many comments.
Jalen seems like a really cool guy, I'd guess he's saving all that money for now just because he doesn't want to rush in any way. That's what I would do if a million bucks appeared in my bank account: pay my car, my house, a little remodel here and there, and then take some time to really think it through.
He managed his first million so admirably and it makes me so happy to see him absolutely dominating, he'll be giving so much in his lifetime and changing lives!
this guy had great parents, but just being taught is not enough, you have to want to do it, you have to make the decision. He seems to be all in, you can tell he knows it’s important to be conservative, but he also is happy to treat himself to what he really wants, and he was happy to do something good for people in real need, their are people that want your money to use it to do wrong, so it’s great he found a good way to benefit others. He’s not caught up in the buy beyond your means, you can get the gucci later, no need to fake rich, but what you like, for what can afford. this should be inspiration to a lot of young people.
Given how difficult it is to be a mildly successful quarterback, I feel like you have to have a good head on your shoulders to be a decent and above quarterback. We see knuckleheads be great players at other positions all the time but at quarterback it's a rarity.
The catalyst is that all rookies have to take a finance class led by the NFL before camp. If this was around in the 90's or early 00's, a lot of people would still have their cash.
Nice video Spencer! Very wholesome content and quite motivating to see real-world examples of good sense. Jalen enjoyed the spoils he worked for, without letting the money be the point. This young athlete is GREAT role model.
I think saving is the move. Having the liquidity of cash is always good. He can start investing and using his money to make more money once he hits the second contract
Athletes handle their money much better nowadays. Back in the 80's & 90's It wasn't uncommon to see athletes completely broke a few years after retiring. Hiring a financial advisor and a lawyer are essential.
Man. Looking back at this and seeing where he is now… hard working dude who has a good head on his shoulders. You mentioned you don’t see him being a starter for long & I think a lot of us felt that way but man has he exceeded everyone’s expectations and earned his money. Got himself a big contract and will probably be a perineal MVP in the league. 255mil . Go get your new car brother!
I loving the knowledge of cars.... Pre-own cars are smart and kind to your budget!!!! Knowledge of cars losing value as soon you drive off the lot is SO smart!!!!!!!!
I went to an NFL practice facility and the food is amazing you get a gigantic sandwich with everything you want on it and they feed you really well and there’s a salad bar and there’s all kind of stuff!!
Ok so here is the thing with jewerley, you pay about a 10-20% premium on whatever material you are using. So keep it simple if you buy a 20 karat or above (investment grade) gold chain for lets say $10,000 expect to pay somewhere between $11-12,000 (it can be cheaper or more expensive depending on you jeweler. Question is why do people do this? Well the benefit of owning jewelery is that it cannot be taxed when it gets passed down. And remember you are essentially investing in precious metals with physcial assets, yea they don't produce an income but they are a great hedge for when inflation worries appear. Another benefit is lets say for whatever reason you want to go do business in a foreign country, and you don't want to declare money to and from your flights, well if you wear jewlery that is worth lets say $100-200,000 or even $1M. You do not need to declare that as you travel. So essentially you can break pieces of your chain to conduct trade or business via with physcial metals that are accepted all around the world. Other than that, if you are not buying investment grade jewelery, but you wear chains, bracelets, watches, that is literally just status symbols. Like driving the nice car, or living in a nice zip code. In short, jewerly isn't a waste of money if you buy it right. Again custom jewelery is harder to sell, and cost a lot more to make and have, but is still valuable due to the intrinsic value that goes with the precious metal asset. I hope this kind of clears up a little. Feel free to ask a question or two.
Athletes are getting more savvy because all of the stories of financial failure are now out there now, where they were mostly hidden before. There is absolutely no reason for any kid coming out of college into a pro athlete career to not be well aware of the perils and pitfalls that await them.
I'm guessing when he said the last 700k is in savings, he probably meant that it's not spending money in a checking account, from what he's said it's likely the money in "savings" is already invested in a diverse portfolio, low risk bonds and such. Most people who aren't finance savvy refer to invested money as savings.
I love your content! im a 20-year-old student starting to invest in money as early as possible! thank you for your amusing and informative content! much love from the Philippines!
The noise the chains make is the best part...typing that made me realize it sounds like some slave shit but I'm deadass😂. That and when the lights low.
Please consider doing a video on Drake. There's no way he doesn't go broke with all his spending habits and liabilities... 100 mil house, private Boeing jet, all his cars etc.
If you pay attention to his career moves, you'll realize that he's very smart with his money. Then there's his investments. I see him hit Billionaire status in the next 7 years
drake is a near billionaire my guy. he could never make music again and never go broke. he owns ovo, endorsed with nike, and his music will always make money. and I'm willing to bet you a good chuck of his luxuries are given to him or he makes money off them.
