A Tale Of Two Running Backs

Screen Shot 2019-07-25 at 3.59.13 PM

Add the name of NFL running back Adrian Peterson to the list of celebrities that can’t seem to figure out how to manage his prodigious wealth.  Despite earning over $100 million dollars in his career, Peterson is apparently so broke that he cannot pay back millions in dollars of  loans he took.  In news reports they wrote it up as another case of an athlete who was “taken advantage of by his financial representatives” or “wasn’t well educated in how to handle money.”

I’m sorry, but for too long we pretend as if these celebrities are victims.  He is the one being brought to court for not paying his debts.  He is the one who lost $100 million.  I don’t see any of his financial advisors being convicted of fraud.  Regardless of whether or not one hires others to help manage our money, we all still need to be personally responsible for protecting our own nest egg.

When I think of Peterson’s predicament, it contrasted sharply with another former Minnesota Vikings running back, Herschel Walker.  Both were premier athletes in college and the NFL.  What’s different is that Walker has excelled financially, starting a number of very successful businesses with annual sales that exceed what Peterson has made in his entire career.

Walker’s success isn’t the kind of thing that makes the headlines though.  While there are dozens of articles written in the last few days about how broke Peterson is, I could only find a handful on the success that Walker has achieved since he started his first company back in 1999.

It’s too bad that the celebrities that waste their money are the ones that get the attention, while the successful ones are rarely acknowledged.  That said, in a perverse way, perhaps that imbalance becomes a good cautionary tale for our society.

What other celebrities have you learned about becoming quietly successful outside of their original careers?

Image Credit: CBSSports.com

 

9 thoughts on “A Tale Of Two Running Backs

  1. First I must comment: I know a very successful financial advisor who worked with a number of players on the most successful football franchise of our times. After a few years, he no longer accepted them as clients because they would not take his advice (which wasted his time, while they squandered investible assets). As for celebs who succeed, the first to mind is Peyton Manning (whom I met at one of your Megacorps). He is a credit to his family, to his former sport, and to the business community.

    Liked by 1 person

    1. Our financial planners’ firm represents a lot of NHL hockey players. I will have to ask him what that is like. Yes, Peyton seems to be doing great. He’s on every other TV commercial during the NFL season.

      Like

    1. Great article! Always liked Staubach. The first Super Bowl I remember (SB X) was won by Staubach and the Cowboys.

      Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s