E08: Wildcat to Wealth Manager: Ronnie Brown’s Path After the NFL

Beyond the Game: Wealth Mastery for Athletes

This week, Kris Benson and Alec Ogletree sit down with NFL legend Ronnie Brown to discuss his incredible journey from pioneering the "Wildcat" formation in the league to reinventing himself as a financial advisor after retiring from football.

Here are some power takeaways from today’s conversation:

[00:00] Introduction

[06:30] How the Wildcat offense originated for the Dolphins

[12:15] Ronnie's draft experience, being selected 2nd overall by Miami

[21:00] Challenges of managing finances as a young player with little guidance

[31:09] The business of self

[33:50] Transitioning to a new career path post-NFL without a traditional finance background

[47:30] Ronnie's process of obtaining Series 7 and 66 licenses in a compressed timeline

[59:15] Lessons learned around protecting assets and avoiding risky investments

Episode Highlights:

[18:51] Don’t Let Yourself Get Too Comfortable

One of the most valuable lessons Ronnie learned both during his NFL career, and after, is the importance of not letting yourself get too comfortable. As a young player coming into big money for the first time, Ronnie was wary of settling into complacency. He shares how he avoided flashy purchases or extravagant lifestyles early on in order to stay hungry and focused on continuing to improve on the field.

[28:32] Success Leaves Clues

As a young player, Ronnie sought to identify veterans in the locker room who had achieved sustained success and model his habits and work ethic after them. Later in his transition to financial advising, Ronnie realized he needed to find mentors who had successfully navigated similar career changes and learn from their experiences. The insight and guidance he received from established advisors who welcomed him in, proved invaluable as he pursued his licenses and built his practice. Ronnie continues to pay this wisdom forward by mentoring both current and former athletes. He emphasizes how taking time to observe those who have achieved what you want is key to accelerating your own path to success. By studying the clues left behind, you can avoid unnecessary mistakes and position yourself for breakthroughs more quickly.

[31:09] Becoming the CEO of Your Business

Ronnie realized that as an NFL player, you essentially become the CEO of your own personal business, with all the responsibilities that entails. From managing your finances and brand partnerships to scheduling workouts and hiring advisors, athletes must quickly adopt an entrepreneurial mindset. Ronnie admits he wasn't prepared for this change as a young player. However, it drove him to educate himself more on topics like contract negotiations, sponsorship opportunities, and long-term career planning. He encourages current athletes to view themselves not just as employees of their team, but as CEOs who need to make strategic decisions to protect their assets and set themselves up for success beyond their playing days.

[59:15] Lessons Learned Around Asset Preservation

Ronnie emphasizes doing thorough research on any investment opportunities that come your way. As an athlete, it's easy to be targeted by shady individuals looking to profit off your fame and money. He also encourages diversifying assets across multiple stable sectors rather than putting all your eggs in one risky basket. Above all, Ronnie stresses patience and avoiding get-rich-quick schemes. His advice is to focus first on understanding how to grow wealth modestly over the long-term through low-fee index funds and real estate before venturing into more complex deals. Protecting the money you've earned is as important as earning it, according to the lessons Ronnie has learned.

Resources Mentioned:

Follow Ronnie on IG: @ronnie23brown