In the world of professional baseball, where contracts can reach astronomical figures and lavish spending is often the norm, there exists a unique breed of players who have adopted a different approach to managing their wealth. These players, who proudly proclaim, “You stay rich by being cheap,” have garnered attention for their frugal habits and savvy financial decisions.
While the phrase may seem paradoxical at first glance, it encapsulates the mindset of a growing number of athletes who prioritize long-term financial security over immediate gratification. By eschewing extravagant purchases and investing wisely, these players are setting themselves up for a comfortable future long after their playing days are over.
One such player who embodies this philosophy is veteran pitcher Max Scherzer of the New York Mets. Despite signing a $210 million contract in 2015, Scherzer is known for his frugal lifestyle off the field. He drives a modest car, shops for bargains, and avoids unnecessary expenses. In an interview with ESPN, Scherzer explained his approach, saying, “I don’t need a fancy car or a big house to be happy. I’d rather save and invest for the future.”
Scherzer is not alone in his thrifty ways. Many other players, both current and retired, have embraced the “cheap” mentality as a means of preserving their wealth. Hall of Famer Mariano Rivera, who earned over $169 million during his illustrious career with the New York Yankees, famously drove a 2007 Toyota Tundra for years after retiring. Rivera once said, “I don’t need a flashy car to prove my worth. My bank account speaks for itself.”
The trend of frugality among professional athletes is not limited to baseball. In the NBA, players like LeBron James and Kawhi Leonard are known for their smart financial decisions and modest lifestyles. By living below their means and investing wisely, these athletes are ensuring a secure financial future for themselves and their families.
But why are these players choosing to be “cheap” in a world where excess and opulence are often celebrated? According to financial experts, the answer lies in the unpredictable nature of a professional athlete’s career. With injuries, trades, and fluctuating salaries, athletes face a level of uncertainty that requires careful financial planning.
“Professional athletes have a limited window of earning potential, and it’s crucial for them to make smart financial decisions early on,” says financial advisor Sarah Johnson. “By living frugally and saving for the future, these players are setting themselves up for long-term financial success.”
In addition to securing their own financial futures, these “cheap” athletes are also setting a positive example for fans and aspiring athletes. By demonstrating the importance of financial literacy and responsible spending, they are helping to break the stereotype of the wealthy, frivolous athlete.
As the trend of frugality continues to gain momentum in the world of professional sports, it serves as a reminder that wealth is not defined by flashy cars or extravagant purchases, but by smart financial decisions and a commitment to long-term financial security. So the next time you see a professional athlete driving a modest car or shopping for bargains, remember the mantra they live by: “You stay rich by being cheap.”