The Mindset that Helped Tennis Hall-of-Famer Andy Roddick Grow His Net Worth
The importance of saving and investing cannot be stressed enough by experts. Financial gurus have often advised setting aside a portion of your money for your future while successful entrepreneurs have also echoed the sentiment.
Even successful athletes have underlined the importance of this habit, including former professional tennis player Andy Roddick, who retired in 2012 but remains afloat to this day, thanks to his smart financial moves.
We’ve all heard of the infamous day when former basketball player Shaquille O’Neal blew through $1 million in just under an hour after signing his first contract in 1992 and going on a shopping spree.
On the other hand, we have tennis legend Venus Williams who immediately went to the bank after winning the Grand Slam when she was just 20, saving the entire $520,000-check. The point is, we control how we spend our money, be it a small or big amount.
For Andy, saving is important, which was what pushed him to enter the realm of professional tennis at just 17 in 2000. By the next year, he already started his eponymous foundation that focuses on educational opportunities for children. At 21, he came out on top at the US Open and briefly held onto the top spot – clearly, his career was nowhere near stopping by this point.
Obviously, money was heavily pouring with left and right endorsement deals and sponsorships on top of his wins. But unlike other athletes who invested in passion, he wasn’t into the same thing.
Throughout his entire career, he raked in $20.6 million which he put to good use by investing. Andy revealed that his goal was that when he stopped playing, he would still make the same money from what he had built.
Real Estate Properties
This mindset transcended in 2008 during the financial crisis, when people liquidated their holdings. He scored some pretty neat real estate properties and secured 15 to 20-year leases.
The 37-year-old now has a sprawling property portfolio, thanks to his principles that proved to be useful. Andy knows he is fortunate to have earned the amount during his tenure but he is firm that the same sentiment is applicable no matter how much or little you earn.
He is aware that people have had complaints about how their salaries aren’t enough to start investing, but he stressed that it pays to start as soon as you can because a decade or more later, you’ll be happy that you did.
This investment was what had kept Andy grounded and avoided him to subsidize money for personal interests. According to his business partner Phil Myers, he knew that his pal realized that the money he would spend on a luxury car, say a Ferrari ride, would have lessened his net worth.
Andy didn’t only put his money on real estate properties. Last year, he and wife Brooklyn Decker decided to invest an undisclosed amount in Tiff’s Treats, an Austin-based cookie chain. The high-profile couple will also be brand ambassadors, the Austin American-Statesman said.
More in Career
5 Tips to Ace Your Virtual Interview
If you are on a job hunt or going through with the subsequent stage of the recruitment process, below are some...May 1, 2020
The Doctor is Home—Here’s a Look Inside Dr. Oz’s Family Mansion in New Jersey
About two decades ago, Turkish-American celebrity doctor Mehmet Oz and his author wife, Lisa, went on looking for the perfect home...April 30, 2020
Coronavirus and Retirement: Mistakes to Avoid with Your 401(k)
Anyone who got accustomed to viewing his 401(k) account balance move higher for a considerable length of time, the market’s ongoing...April 29, 2020
This L.A. Abode Was HGTV Star Leanne Ford’s ‘Forever Home’ Until She Realized Something Life-Changing
When HGTV star Leanne Ford decided to take on this renovation project of a house located in Rustic Canyon in...April 29, 2020
List of Wealthiest Charitable Foundations and Their Area of Focus
Here are some of the wealthiest foundations which are listed according to their net assets. Bill and Melinda Gates Foundation The...April 27, 2020
A 3 Minute Read for Students who are Thinking about Launching Their Careers During the Outbreak
Usually, graduates who receive their diplomas and degrees always have new jobs available for them in the job market and are...April 23, 2020
The Career Woman’s Guide to Managing Stress
It’s not easy keeping a balance between striving for professional success and maintaining a happy personal life. With all the things...April 22, 2020
New McLaren Sports Series Hybrid Seen in Production Bodywork
Although the camouflage is quite heavy, one can clearly see that the new McLaren prototype is going to follow the tract...April 22, 2020
A Noob’s Duide to Investing in a Bear Market
If you looked closely at the stock movements these days, there is a question that you might ask. The bear market...April 21, 2020