E12: Beyond Football: An NFL Vet's Journey in Insurance and Financial Planning

This week, Kris Benson and Alec Ogletree chat with former Cincinnati Bengals offensive lineman Clint Boling to share his journey from the NFL to a career in insurance. Over an eight-year career spent entirely with the Bengals, Clint learned valuable lessons about financial planning, investing, and creating opportunities for his post-football life. Tune in as he discusses his process of networking while playing, advice he'd give his younger self, and how he currently applies his business knowledge working in the insurance industry.

Here are some power takeaways from today’s conversation:

[01:21] Choosing majors and career paths in college

[10:56] Athletic training and work ethic

[15:12] NFL draft experience, financial planning, and taxes

[22:26] Lessons learned about taxes, spending, and living within his means 

[26:03] Financial freedom and finding your purpose

[31:37] Common financial struggles and habits among NFL players

[38:46] Retirement, career change, and insurance work

[45:35] The importance of building relationships on and off the field

 

Episode Highlights:

[22:26] Financial Lessons from an NFL Career

Clint shares some of the biggest financial lessons he learned during his time playing in the NFL. He talks about being surprised by how much was taken out of his paychecks for taxes when he first started playing. This taught him the reality of tax obligations. He also discusses seeing teammates make extravagant purchases like luxury cars that they would sell soon after, realizing they didn't truly have the means to maintain that lifestyle. Overall, Clint stresses the importance of living within your means, even making a high NFL salary so that your money lasts beyond your playing days. These experiences helped shape his philosophy around responsible spending and financial planning.

[26:03] The Power of Choice and Purpose

Clint achieved financial independence through smart planning and investing during his playing days. This freedom allowed him to pursue new opportunities because he wanted to, not out of necessity. He referenced the difference between "want to" versus "have to" work. He also stressed finding purpose each day, whether through career goals or examples set for family. Simply showing up to a job is not enough - true fulfillment comes from channeling efforts into meaningful accomplishments.

[31:37] Common Financial Struggles And Habits Among NFL Players

Some common financial pitfalls Clint observed among NFL players included making extravagant purchases like luxury cars that couldn't be sustained long-term. They continue an unsustainable lavish lifestyle after retiring when income has already  decreased substantially. They also fail to have a concrete financial plan for managing earnings, while taking on too much risk early in careers rather than more conservative investing. Failure to adjust spending habits or prioritize financial education when NFL salaries ceased can lead some to mismanage earnings.

[45:35] The Power of Building Relationships – On and Off the Field

Building strong relationships is crucial both during and after a career in professional sports. You're not playing football forever. At some point in time, you're going to need another job. So how do they view you as a person and not a football player? So when you’re at any event, talk to the person regardless of what they do. Engage those people and talk with those people. Build those relationships because at the end of the day, you don't know who's going to be able to help you down the road. 

Resources Mentioned:

Outliers by Malcom Gladwell

Redding Private Client