By Wanda Wiedman / August 16, 2018
He gets it. Cleveland Browns defensive lineman Carl Nassib shares his thoughts on investment with teammates on HBO’s Hard Knocks.
“We got a lot of money right now, right? This is the easiest equation to make you rich. You have a million dollars and after seven years getting 10% of the money every single year, you are making money off of it, you’re going to double it after seven years. You’re gonna double it every seven years for 42 (expletive) years, you get 64 times your original (expletive) money. So if you got a million dollars you’re gonna end up with 64 million dollars by the time you retire.”
Drafted by the Browns in 2016, Nassib signed a 4-year contract worth $3.2 million, with a signing bonus of $890,000 dollars. Now, let’s assume he lives off of just the signing bonus, which is $222K, and invests the rest, he can have a very nice financial cushion upon retirement.