Team Frugal: Arian Foster
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.
Arian Foster just came out with an album and to many critics and fans he may have just jumped up into top athlete rappers in the game amongst the likes of Damian Lilliard and Lonzo Ball all athletes that have a knack for their penmanship in music.
Some of you may recognize Foster for his time as the Houston Texans running back when he went from undrafted free agent into Pro Bowl running back and earning one of the biggest contracts in the NFL at the time. Foster retired for what may be considered early for him at the age of 30, but it seems that Foster is in a good place
He was very frugal with his finances making smart decisions off the field. Among his business portfolio, he invested in Mikalia Ulmer's Lemonade company, Me and The Bees, famous for the Shark Tank appearance and PeerWell, a health technology company
Foster is also the host of his own podcast Now What where he interviews different people in their space and talks shop on various topics
What I take away from learning about Arian Foster is how comfortable he was transitioning out of football. Many times the transition is the biggest reason why athletes go bankrupt. Lack of preparation, no longer having a sense of identity, lack of a schedule all are reasons why it’s hard for professional athletes to continue to stay solid financially.
According to his family and friends and even Foster himself he put in 10,000 hours (10,000 hours is a Malcolm Gladwell reference referring to the process of becoming an expert at anything one must put in at least 10,000 hours)
Foster knew what he wanted to do well before he started his career in football, In fact in the Uninterrupted video he claims football was a springboard for all the other cool things he wanted to do with his life.
At the end of the days sports can only take you so far, whether it's the physical wear and tear , a team no longer needing your services, or your time coming to an end because you're the old guy. It’s important to build a solid financial base to not only be secure once you are done playing but to follow your passions in a strategic way. Arian Foster is a perfect example of being a frugal athlete and using sports instead of letting sports use him.