Personal Finance Taught at HBCU by Former Athletes

For former NFL player Adewale Ogunleye, watching someone, let alone athletes, struggle to manage money boils him to the core.

So, he is doing something about it.

Knowing that the average NFL player’s career is less than four years, Ogunleye’s “lightbulb” moment came in his second year in the league. That’s when he said a teammate who was a top pick in that year’s draft asked him for a loan.

“I’m looking at this guy thinking, ‘I’m not in the draft.’ I only had rookie minimum wage and you’re asking me for a loan? And he was actually in a position where he could give them a loan. And that’s where I realized there was a problem,” Ogunleye, who played 11 seasons in the NFL, told USA TODAY Sports.

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Former NFL player Adewale Ogunleye is working to help college students learn financial literacy.

Walter Stith, a financial adviser for Morgan Stanley’s Global Sports and Entertainment division, says there’s a simple reason to see wealth grow, and it’s based on the average time an athlete has to generate income in a chosen sport.

The average career length for athletes in each of North America’s four major sports is less than four years.

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