Degree Granted


Institution Granting Degree

University of Phoenix


Business | Economics | Finance | Finance and Financial Management | Sports Studies


The purpose of this qualitative phenomenological research study was to examine the lived experiences and perceptions of 25 former National Football League (“NFL”) players regarding the financial decisions they made when active as players for information that could lead to an appropriate model for making good financial decisions. Determined in the qualitative phenomenological study were the influential factors identified by the participants in the study that focused on financial decisions made by former NFL players. The study revealed five themes: (1) wealth enablers, (2) wealth killers, (3) challenges, (4) attitudes, and (5) wealth weak spots. The results of the study might help current and future NFL players become better-equipped to face the unique financial challenges that come from life as professional athletes. NFL, union, and team leaders should improve the way retired ballplayers are handled with regards to disability and injuries and NFL pension benefits, and NFL leaders should continue to enhance the educational programs offered to NFL players with regards to their careers after football and education about money. Professional advisors should fully understand the phenomenon of their clients being NFL players, actively guide and teach their clients about money, and do the right thing with regards the financial advice dispensed. NFL players should take to heart these nine financial tips: (1) realize that the career is short (NFL = Not For Long), (2) take it slow, play it low…be conservative and humble, (3) consult trustworthy professionals, (4) set a budget, beat it, and save, save, save, (5) educate yourself about your finances, (6) learn to say “No” to friends and family requests for money, (7) prepare yourself for your 2nd career, (8) you can’t go wrong with your 401(k), safe investments, and a modest home, and (9) wait to select a mate.