Now that the Lions have been eliminated from the playoffs, Glover Quin can get focus on making some real money. In a recent ESPN story, the Detroit defensive back discussed how his frugal lifestyle has increased his wealth. Quin signed a 5-year, $23.m contact in 2013 and revealed that, over the course of his career, he lives on just 30% of his salary and invests the other 70%. Over the past 8 years he has managed to double his money.
A 2015 study released by the National Bureau of Economic Research, researchers found that 15.7 percent of players file for bankruptcy within 12 years of retirement. That is a vast improvement from the results of a 2009 study that found 78 percent were broke just two years after retirement. Glover is obviously determined not to be one of those statistics. After majoring in business at the University of New Mexico, he lived on just $6,000 a month during his first three years in the N.F.L. and invested the rest of his money in publicly traded companies. When he signed his contract with Detroit, he diversified and took more investment risks. He didn’t even upgrade his car, keeping his 2009 Yukon Denali.
Quin and his financial manager estimate that after five years he could match the money he has made playing professional football. In his 8-year career, after his contract expires following the 2017 season, he will have earned $21 million before taxes. The N.F.L. holds a rookie symposium for all new players entering the league and we Glover Quin should be a featured speaker every year.