NFL stars Michael and Martellus Bennett talk football and finances

Published Thu, May 24 201810:35 AM EDTUpdated Thu, May 24 201812:38 PM EDT

Key Points

Michael and Martellus Bennett have gotten a lot of attention during their time in the National Football League.
Now the players are speaking out about what they've learned along the way and the financial advice they have for young players.

Michael Bennett #72 of the Seattle Seahawks talks with brother Martellus Bennett #80 of the Green Bay Packers after the Packers defeated the Seahawks 17-9 at Lambeau Field on September 10, 2017 in Green Bay, Wisconsin.

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Brothers — and NFL superstars — Michael and Martellus Bennett have garnered more than their fair share of attention.

Tight end Martellus Bennett, whose career was capped by a Super Bowl win with the New England Patriots, recently announced his retirement from the league.

Philadelphia Eagles defensive end Michael Bennett was one of the players who stayed seated during the national anthem last season in protest over police brutality. (Going forward, all league personnel on the field are now required to stand for the anthem.)

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Power Lunch

Now they are speaking out about some of the challenges they've faced – particularly when it comes to their sudden wealth at a young age, with very little understanding of finances.

"A lot of athletes are first-generation money," Martellus Bennett said in a conversation with Maverick Carter in an episode of "Kneading Dough," a series by Chase and digital media company Uninterrupted.

"It's like, 'Hey, here's $3 million – good luck!'"

In fact, many professional athletes struggle to make their income last. Nearly 80 percent of retired players go broke in their first two years out of the league, according to Sports Illustrated.

It's like, 'Hey, here's $3 million – good luck!'
Martellus Bennett
Veteran tight end

"A lot of times, when people look at athletes they see a man, but … they haven't had a chance to develop and one of the things they haven't had a chance to develop is financial literacy," added Michael Bennett.

"At my house, we never talked about trusts and wills and life insurance," he said. "We never had those honest conversations.

"Now, with my kids, I try to focus on that."

But that doesn't mean there haven't been any missteps along the way. Michael Bennett's worst one? Buying a house in Seattle and filling it with furniture, only to get cut from the Seahawks days later, he said.

Now, he said, when it comes to giving advice to other young athletes, he stresses making smart investments. "That money is supposed to grow," he said. "Compound interest is the greatest thing in the world."

The Bennett brothers share more about the lessons they learned, the role money has played in their lives and how they teach their children about finances in the latest episode of the "Kneading Dough" series. Earlier installments featured Serena Williams, Cleveland Cavaliers' superstar LeBron James and Draymond Green of the Golden State Warriors.