Team Frugal: Alex Rodriguez
Being frugal is about more than being stingy with your money. It means being prudent, smart and economical with your finances and career decisions. Every Tuesday, we share profiles of athletes that exemplify what it means to be A Frugal Athlete.
For athletes especially, it’s all about how you bounce back from adversity that can make you a success on and off the field. For Alex Rodriguez, he was able to turn an unfortunate suspension into a springboard for a second career. Alex Rodriguez considered one of the greatest baseball players of all time even with the performance enhancing drugs scandal has made over 450 million in career earnings not including endorsements.
You would think someone like Alex Rodriguez would not worry about post career experiences or money problems but it was that fear of not having an option b incase it all went away that led him to build for life after baseball.
Alex Rodriguez is the founder of his own investment fund called AROD corp that focuses on sectors specifically in real estate, fitness, media, and auto dealerships. Notable companies include Trufusion, NRG esports, and Newport Property construction. Alex Rodriguez also works as a baseball analyst and serves as a consultant.
Alex Rodriguez credits the mentorship of famous investors such as Warren Buffet and Barry Sternlicht as individuals who have helped in business and finance. Rodriguez also stresses looking at the numbers, and it was him looking at the numbers of baseball players and the length and statistics of their careers that led to his portfolio building.
Alex Rodriguez is a great example of how an athlete can have it all and lose it in a matter of seconds. Whether it’s through an injury or suspension or any other unfortunate circumstance the life of a sports career has a lot of unpredicted twists. How you prepare off the field can make all the difference no matter how good you are. Whether it’s finding the right mentors or taking extra classes in school or slowly building a business platform, you can make sure that whenever your time is up you won’t have the fear of not playing again.
Rodriguez was able to take what he learned in sports about being resilient and apply it to business and for that reason he is A FRUGAL ATHLETE.