MW NFL draft prospect Braden Fiske is projected to sign an $8 million deal. Here's how he plans to invest it.
By Weston Blasi
The soon-to-be pro football player spoke with MarketWatch about his financial adviser, missing out on being in EA's new college football videogame - and his Honda Accord
At the 2024 NFL Scouting Combine, Florida State defensive tackle Braden Fiske screamed, "Oh, yeah!" after running a 40-yard dash in 4.78 seconds.
That sprint will likely make him a millionaire.
Fiske, 24, tested well at the combine last month, an event at which NFL teams run athletes who are eligible for the NFL draft through various drills. In addition to his 40, Fiske's measurements in the broad jump, vertical jump, 20-yard shuttle run and bench press gave him an overall combine athleticism score of 87 - the top score for any defensive tackle.
His performance led to his draft stock rocketing up as April's NFL draft approaches.
Fiske is now projected to be a second-round pick in a new CBS Sports mock draft. The median value of a second-round-pick contract is about $8 million over four years, including a $2.7 million signing bonus.
In a scream-free recent conversation with MarketWatch, Fiske talked about how he's preparing to (likely) become a millionaire, the one thing he won't spend money on, and the biggest reason he's bummed out about leaving college football.
MarketWatch: We asked DK Metcalf about this when we interviewed him last year, but is it weird that at the NFL combine teams start measuring your hands and watching you run in tights that look like underwear?
Braden Fiske: I definitely spent more time in my underwear than in my clothes when I was there. I have to agree with DK that, yes, it's a little strange and you kind of feel like a product, but it's still a good opportunity.
MarketWatch: After talking with coaches and scouts, do you have a vibe on where you're going?
Fiske: I probably met with all 32 teams and some showed me more love than others. It was kind of weird because some teams have interest, but don't want to show their interest.
MarketWatch: So it's like poker?
Fiske: That's exactly what it is.
'Everyone tries to get me to buy a new car because I have a Honda Accord, and I'm way too big to be driving a Honda Accord [at 6-foot-4 and 292 pounds). It's only got 150K miles on it, though, and it gets me from A to B. I'm sure I'll give in once I see more 0s on my account."Braden Fiske
MarketWatch: If you're picked 30th or if you're picked 100th in the NFL draft, you'll make drastically different money. How have you been planning for your financial life to change?
Fiske: I work with an FA right now. He advises me where to allocate funds. We actually just met to discuss how my financial life is going to change. I'm putting money into mutual funds, index funds, high-yield savings accounts and maybe exploring new investment opportunities, too.
MarketWatch: How did you get started in those investing accounts?
Fiske: My uncle was actually a stockbroker, and my grandfather was really big on saving for retirement, putting money aside each month - and he used to be working class. My grandfather and my grandma didn't start putting money into the stock market until they were in their late 30s or early 40s. He would always say how [it] could have made a bigger difference if he started sooner. I also have a Roth IRA, an index fund and a mutual fund. The more assets I can have to build wealth on the side is going to be huge for me. I want to get in as quickly as I can and start building.
See also: Super Bowl quarterback Brock Purdy made $870,000 this season - 16 college football players made more via NIL
I do a lot of my own reading and studying about money, too. Whether it's YouTube channels or books. I think the first money book I ever read about money was "Rich Dad Poor Dad," which is base-level, but it's learning about how to budget, take care of your funds, and how to set yourself up for living a wealthy lifestyle.
MarketWatch: How did you choose a financial adviser?
Fiske: He came to Florida State and put together a presentation. He's been working with Florida State for a few years now, and he talked with athletes about financial plans, where to allocate funds and what to save per month. I was kind of naive about what a financial adviser does. It's more than just working with your money - it's a lot more advice.
MarketWatch: What other financial media interests you?
Fiske: Mötley Crüe is a good one.
MarketWatch: The band? You must mean Motley Fool?
Fiske: Yes! I listen to them quite a bit. Lots of YouTube videos, and the Fidelity forum, too.
MarketWatch: Are you thinking about making any fun purchases once you get your signing bonus?
Fiske: Everyone tries to get me to buy a new car because I have a Honda Accord, and I'm way too big to be driving a Honda Accord [at 6-foot-4 and 292 pounds]. It's only got 150K miles on it though, and it gets me from A to B. I'm sure I'll give in once I see more 0s on my account.
MarketWatch: You've said you made six figures' worth of NIL deals when in school. What's it like to actually have money while in college?
Fiske: It's interesting because I had never been around that much money. My financial adviser helped me. It's about understanding that money is not going to last forever and only like a short period of time. And you've got to pay taxes on that money, as well.
MarketWatch: Are you going to collect your $600 and be in the "EA Sports College Football" game $(EA)$? Or is that only for 2024 players?
Fiske: Nah, it sucks [that] I'm not going to be in it. It's going to be all the 2024 guys, which is tough.
MarketWatch: It sounds like you would have wanted to be in the game then.
Fiske: I would have been in it for free! It's crazy.
MarketWatch: What did you think about some of the high-profile players dropping out of the game?
Fiske: To each their own, but for me, growing up and playing the game, and being in love with college football, being in the [video] game is crazy to me. I get they might see a different angle on the business side, but it's what you dream of, being a college football player. Of course it's coming out the year I'm gone. I'll be in the new "Madden," but college football is just different.
MarketWatch: Has your financial adviser laid out anything that you can't buy or invest in? Real estate? NFTs?
Fiske: He has opinions, but he's very flexible. He's really big on the fact that he can only advise me, and can't push me to do anything. And I really respect that.
See also: NFL defensive back buying Tesla Cybertruck for $100,000 over sticker price is intercepted by financial adviser
MarketWatch: What's one thing you don't mind splurging on?
Fiske: When it comes to taking care of my body and anything for health purposes, I'll spend on the gym, massages and going to cryo chambers. I see my body as like the return on investment. The more I can take care of it, the more I can get out of it.
MarketWatch: Is there anything that you absolutely will not spend money on?
Fiske: I do get the iCloud $(AAPL)$ storage notifications, where you pay 50 cents or whatever for some extra gigabytes of space. I refuse! I'll just go back and start deleting stuff to get my storage back down.
MarketWatch: Have you made any big money mistakes in your life?
Fiske: I need to stop buying shoes. For financial purposes and for storage purposes. I love some Jordan 1s, and if I see a pair I'm getting them.
Read on: Caitlin Clark is turning pro. She could probably make more money staying in college another year.
-Weston Blasi
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(END) Dow Jones Newswires
March 20, 2024 16:18 ET (20:18 GMT)
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