Braden Fiske’s Road to Millions: NFL Draft and Financial Planning

Braden Fiske is set to become a newly minted millionaire after being drafted by the Los Angeles Rams during the second round of the 2024 NFL Draft. According to financial experts, the median value for a second-round contract in the league is approximately $8 million over four years with a signing bonus worth around $2.7 million. Fiske’s significant cash flow doesn’t mark his first brush with riches – as he had previously made six figures during college through endorsement deals under NCAA rules regarding name, image and likeness (NIL). The young football player understood the value of seeking financial guidance from an advisor while playing for Florida State University. Fiske acknowledged that “I’d never been around so much money,” before working with his advisor to create a savings plan for future expenses and taxes on earned income, stressing: “Only [money] will last forever is only for such short period of time.” The athlete has already started investing in mutual funds, index funds, high-yield saving accounts, Roth IRAs, as well as exploring new investment opportunities. Fiske also credits his grandfather’s advice regarding retirement savings and emphasizes the importance of financial literacy training, which would significantly assist aspiring professional athletes profiting from NIL endorsement contracts before they become financially independent adults. Despite being a fan of Air Jordan 1 sneakers by Nike, he intends to remain frugal with his finances for now – as “everyone” suggests that it’s time to upgrade the Honda Accord which has already traveled over 150,00 miles.