It's that time of year again—when young college football stars find out if and where they'll wind up in the National Football League and what their payday will be. But if they aren't careful, those multi-million dollar paychecks won't get them very far.
"Let's just hope that this year's rookie class understands the reality behind the numbers and takes measures to save and invest their earnings, keeping in mind that, on average, their career will only last shortly over three years," said Jack Brewer, a former NFL player who now runs The Brewer Group, an investment company that caters to athletes.
The NFL draft kicked off Thursday night in New York, and Brewer estimates the No. 1 draft pick (which ended up being the University of South Carolina's Jadeveon Clowney) could see a contract in the range of $25-28 million. While that's big money, he said it dwarfs the paydays seen in the past—like the $60 million contract the No. 1 pick, David Carr, saw in 2002.