The Dallas Cowboys may not have wanted to pay his price tag as a free agent, but that doesn’t mean Byron Jones wasn’t an incredible asset to the organization. Jones rarely allowed a reception while in coverage, and while he may not have created the turnovers some feel are necessary to be recognized as an elite talent at the corner position, that doesn’t mean he wasn’t value.
Speaking of value, the University of Connecticut product certainly knows what that is in terms of a dollar. Stingy on the field to wideouts, stingy off the field with his finances, Jones is keen on sharing what he knows with those who follow him. He did just that on social media Thursday, as the league is set to welcome 256 prospects to their ranks across seven rounds of the 2020 NFL Draft.
Jones cashed in in a major way this offseason, his first as a free agent, signing with the Miami Dolphins. His deal is for five years and will pay a total of $80 million, an average of $16 million per season, at the time the richest ever for a corner.
[protected-iframe id=”1d17c53ca66ec03c1863000ff50dc2e2-105974723-50443307″ info=”https://overthecap.com/contract-embed/3875/” width=”600″ height=”351″ frameborder=”0″ scrolling=”no”]
Jones earned well under his rookie contract as the No. 27 overall selection. His rookie deal was for four years, $8.6 million. The Cowboys exercised their team-option for his fifth year, and paid him $6.3 million for 2019. Jones spoke to what he did with that $15 million, while offering a roadmap for how this next crop of NFL players should navigate their newfound fortune. They’ll be tempted to go wild with their millions, but Jones vehemently cautions against it, as the life of a football player is not to be banked on, but the income while in the league is.
My advice to 2020 rookies:
DO NOT SPEND YOUR MONEY. That number you see on your contract is fake. You will pay roughly 40% to 50% in taxes, agent fees, union dues, 401k account + necessary insurance. Also, a large portion of your contract is NOT GUARANTEED. (1/5)
— Byron Jones (@Byron31Jump) April 23, 2020
Do not live a lavish lifestyle. Although your mom may deserve it, she does not need a $100,000 car. She does not need a $1,000,000 house. It is not the time yet. If you protect your money early, you can live a comfortable life forever and provide for your family. (2/5)
— Byron Jones (@Byron31Jump) April 23, 2020
You can raise the standard of living for your family (top education for your kids, healthcare, low crime neighborhoods) but you must be PATIENT. Come up with a modest monthly budget, learn + see the power of compound interest as you invest, understand tax implications. (3/5)
— Byron Jones (@Byron31Jump) April 23, 2020
Use the NFLPA to find credible financial advisors. Interview a few and ask honest, hard questions before you make a decision. Don’t use your uncle’s friend because he claims he can get you 50k on your tax return. (4/5)
— Byron Jones (@Byron31Jump) April 23, 2020
In the wise words of Marshawn Lynch “SAVE YO CHICKEN”. Welcome to the NFL. (5/5)
— Byron Jones (@Byron31Jump) April 23, 2020
Gospel.
[vertical-gallery id=644176][vertical-gallery id=644066][lawrence-newsletter]