Joejuan Williams, a cornerback with the Patriots’ first-year team, is a newcomer to the National Football League. He has a four-year, $6.6 million contract, but he insists to Boston.com that he is quite frugal.
“I’ve been frugal with money ever since I was little just because I watched what my mom had to go through,” says Williams, who lived in public housing with his family in Tennessee.
The alumnus of Vanderbilt University claims that it was in a high school personal finance class that he was first exposed to the value of investing and saving.
The rookie claims to have studied various investment vehicles such as mutual funds, hedge funds, 401(k)s, CDs, and Roth IRAs in this introductory course.
In light of what he learned, he now invests around 90% of his NFL paychecks and uses only the remaining 10% to cover his living expenses.
Williams claims that the course “completely transformed my life.” “It made a radical difference in my life.”
Having helped his mother with her student bills and buying her a car, he acknowledges that he didn’t put away quite 90% of his first few paychecks.
Williams, though, claims, “I’m going to sacrifice today for me to be happy afterward.” He is contemplating his long-term financial goals.
Williams, who went on to be taken 45th overall in this year’s draft, plans to use his newfound wealth to launch a financial literacy program that would teach high school students from low-income areas the value of saving and investing.
How Much Does Joejuan Williams Make?
Joejuan Williams gets paid an average of $1,652,944 per year. Williams’ base salary in 2022 will be $1,398,636, and his cap hit will be $2,108,482.