Monday Morning Quarterbacking
Last fall on Mad Money, the king of stocks met the king of sacks.
Michael Strahan, a defensive end for the New York Giants, passed through Cramerica to talk about his new book, “Inside the Helmet,” and his own financial experience.
Strahan told Cramer that, while a big NFL salary has its many benefits, there are also drawbacks. In 2006, the average NFL salary was $1.4 million. That kind of money is both a blessing and a curse, Strahan said. Players can succumb to scams meant to defraud them and there’s always unwise spending whenever that much money is at stake. Strahan takes part in managing all his money along with a small team of advisers, but said he tends to be conservative in his holdings.
In fact, Strahan spreads most of his investments out in mutual funds. He only owns one stock: Under Armour , a name Cramer has been behind for months.
With all his investments, Strahan keeps a low profile and makes a point to “really watch my money.” Becoming wealthy often carries the risk of changing the people around you more than it changes you, he said. Strahan, 35, told Cramer that by being fiscally responsible, he could retire tomorrow if he wanted and not have to work another day. While he said he loves football too much to even consider that, it’s an option many people would love to have.
Cramer highly recommended Strahan’s book, calling it an “unsanitized” and “honest” look at life on and off the football field.
Watch the video for the full interview:
>Click here to see what happened when the cameras stopped rolling.
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