At age 25, NFL star Rob Gronkowski made a big investment and now his Apple stock is worth over $600,000.
One of Rob Gronkowski's greatest victories was not on the field.
Gronkowski disclosed in an interview with Fortune that he made hundreds of thousands of dollars with the help of a piece of investing advice.
In 2014, the Patriots tight end had limited experience with investing. However, when his house in Foxborough, Mass. was being built by a contractor, Gronkowski was advised to invest in Apple. He decided to give it a try.
"He had no experience with stocks and was unfamiliar with their workings. "So, I thought, 'Okay, let's give it a try. I'll take a big risk.'""
Gronkowski, who had earned more than $16 million from the NFL by the 2014 season, instructed his financial advisor to purchase $69,000 worth of Apple shares.
The five-time Pro Bowler admitted that he forgot about his purchase for two and a half years until he discovered that his investment had grown to be worth approximately $250,000. At that time, Gronkowski cashed out his initial $69,000 investment and left the remaining amount to grow.
"Since 2014, I have over $600,000 in Apple stock, despite having no knowledge of investing and simply following the advice of the builder who constructed my home in New England," he stated.
Gronkowski's Apple investment yielded a 1,000% increase in stock value since 2014, but he didn't require financial aid as he lived off his endorsement money.
In a 2020 interview with CNBC Make It, he stated that he had always aimed to be financially prepared for the day when his football paychecks ceased to arrive.
"The objective of saving during my NFL career was to ensure financial security after football, as the duration of the sport is uncertain," he stated at the time.
He can enjoy his sporting retirement without financial worries because of his financial discipline.
It feels great to be in this position," he said. "It feels great just to go out there and try to find things that I would just love to do.
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Saving money is a top priority for many people, and one 27-year-old who makes $108,000 has found that thrift shopping has been a key factor in his financial success. Here are his top three tips for saving money through thrift shopping: 1. Be selective: When shopping for clothes, it's important to be picky about what you buy. Look for items that are versatile and timeless, so you can wear them for years to come. Avoid buying trendy pieces that will quickly go out of style. 2. Shop smart: Take advantage of sales and discounts, and look for deals on items that you need. You can also save money by buying secondhand clothing from thrift stores, consignment shops, and online marketplaces. 3. Donate and sell: When you're done with clothes that you no longer wear, consider donating them to a local charity or selling them online. Not only will this help you declutter your wardrobe, but it will also put money back into your pocket.
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