NFL star Rob Gronkowski is signed to a six-year, $54 million contract with the New England Patriots. Although he's one of the highest-paid tight ends in the league, the 29-year-old, who will compete in this Sunday's Super Bowl game, has not touched a dime of his NFL money. As he revealed in his 2015 book, "It's Good to Be Gronk," he lives off his endorsements instead.
Gronkowski, who recently teamed up with Honey Nut Cheerios for their Good Rewards program, says that as a veteran on his team, there is one piece of advice he always gives his rookie teammates about managing their money.
"Financially, I just say: Keep it simple," he tells CNBC Make It.
Unlike many other professional leagues where athletes' contracts are fully guaranteed, NFL players' are not. That's why Gronkowski says he tells his young teammates to "get what you need to live comfortably but don't go crazy with splurging until you feel comfortable in the league."