Tag Archives: broke millionaires

Super Savers & Photo Radar Money Grab

Rob Gronkowski retired last weekend from the NFL’s New England Patriots. He’s actually in the Money Tools book, because he never spent one dollar of his six year $54 million contract – period. He lived only off his endorsement income. No, you and I didn’t make $54 million in six years, but that misses the point. He is a super saver who just has a bigger pot of money to save! That leaves one more NFLer with the same savings attitude, and that’s the Viking’s quarterback Kirk Cousins and his $84 million contract. He’s very proud to be driving a dented GMC Van that he bought from his grandmother for $5,000. Here’s some of the story from CNBC: https://www.cnbc.com/2018/10/12/rob-gronkowski-shares-the-money-advice-he-gives-his-nfl-teammates.html

Keep in mind these are just two great savings stories out of thousands of professional athletes. Setting aside the much more conservative Canadian hockey players, many more athletes blow through their contract money than save it. Need proof? In the NBA, over 80% of players are broke within five years of ending their playing career.

By the way, the general definition of super saver is if you can put away at least 25% of your income – and thus live on less than 75% of your pay!

Photo radar, as most people should know or suspect, is just a cash-cow and money grab. The NDP government in Alberta actually admitted it last month. In Alberta, photo radar generated 27 million tickets for $220 million in government revenue last year. 27 million tickets reduced collisions by an estimated 1.4% – that’s it.

Plus, I can show you four U.S. studies that red light cameras actually INCREASE accidents. Since our traffic lights work the same way as they do in the U.S. those studies are entirely valid here. Personally, if I know there’s a red light camera, I will slam on my breaks to avoid the really expensive ticket. If the person behind me can’t stop in time, that’s his or her at-fault accident – and those rear enders increase in frequency at red light camera intersections.

George Boelcke – Money Tools & Rules book – yourmoneybook.com