Lions WR Ryan Broyles and his family live on $60,000 a year

[Akrasian]

I think I read somewhere else that he already bought his home with cash from his signing bonus, and that the $60k/year they live off of, is after taxes. So really, that's closer to living off of $90k per year, without having rent or a mortgage to pay. That should really not be newsworthy at all.

All of his medical expenses are covered by the team, as are most of his travel expenses. He likely gets quite a few meals for free.

His spending habits seem more like common sense, and it's really sad that so few players actually do this.

Add in that while I know a small child takes a lot of her time, his wife is a stay at home apparently, saving money on child care AND presumably giving her time to home cook many meals. Eating out is one of the huge expenses in so many households nowadays. He can eat healthier and given that he's an athlete and needs a lot of food far more cheaply if she is fixing most of the food, except for special nights out, especially hard days, etc.

 

[-X-]

What's wrong with Mazda's? I bought a Mazda 6 brand new in 2008, and it's been nothing but reliable. I still have it, and it still runs great.

I have one from 2007, and it's been nothing but unreliable. I still have it, but it's in the shop right now with a blown turbo.

 

[Ky Ram]

60k wouldn't get you very far in the Bay Area unless you already own a home with a low mortgage. My wife and I lived frugally for years and put our kids through college on the fly- no student loans. After they graduated, we took advantage of the "catch up" provision in the 401(k) rules and at the same time lived very well on our combined income. Total home remodel, nice cars and Hawaii. We loved Hawaii.

Then cancer took my wife. After the fog lifted, I took a hard look at my finances, having not only lost my wife, but also 55% of my household income. I hired a financial advisor and set forth with a plan to retire at 60- in five years. All those years of saving and staying out of debt (save the mortgage, which is really a song) paid off. I have a healthy net worth and will most likely be able to live off my investments without touching the principle after I retire.

The key to financial security is staying out of debt and always asking, "Do I really need that?" The answer is almost always no. It also helps to have a girlfriend who is like minded and financially secure. Women can be expensive. I chose wisely.

Kudos to Broyles...he's a smart kid.

I phuckin hate cancer. So sorry for your loss. Glad you were able to establish enough financial security to not have to deal with that worry as well.
If the article left out a mortgage payment that is one hell of an omission. That's most peoples #1 expense.