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For most Americans, a six-figure salary equals financial security. So it’s easy to assume that NFL star Odell Beckham Jr. has solidified his security with an eight-figure, $100 million, five-year contract.
But in a recent episode of The Pivot Podcastthe 33-year-old suggested that living on $20 million a year is a challenge.
“That’s a five-year span,” he said. “Can you make that last forever?”
After all, Beckham argued, you have to remember that it’s not really $20 million a year after taxes, but rather $12 million (1) “to spend, use, save, invest, flaunt, whatever.”
“To be honest, I’m going to buy a car, I’m going to give my mom a house. Everything costs money.”
Judging by the reaction, his fans and even some fellow NFL billionaires think Beckham may have lost touch with reality.
“Getting paid more in a year than most Americans will earn in total in their entire working life and continuing to make excuses to waste it is crazy,” one user posted on X (2).
Former NFL safety Su’a Kristopher Cravens, originally drafted to the NFL for $4 million, questioned how someone with a $100 million contract could run out of cash.
Cravens noted that six years after leaving the NFL, he can “live the lifestyle I want, while saving money and putting my kids in a position to earn later in life” (3).
“These guys hitting over 10 million and going over it sounds like pure user error on their part,” he posted.
So, is Beckham “being real”? It turns out that one’s concept of a comfortable and secure life is also subject to inflation.
Read more: Warren Buffett used 8 solid, repeatable money rules to turn $9,800 into a $150 billion fortune. Start using them today to get rich (and stay rich)’
Some X users were quick to highlight some of the reasons why they believe Beckham might be struggling to manage his multi-million dollar salaries.
Several noted that the star wide receiver often wears a limited edition Richard Mille watch worth nearly $190,000 while playing (4)(5).
They also shared media reports about his car collection, worth an estimated $2.4 million (6).
Another user noted his two-year suspension from Louisiana State University for handing out wads of cash to student athletes (7).
Simply put, Beckham’s financial struggles may have less to do with progressive taxes and more to do with rampant lifestyle inflation.
That’s a problem many high-income earners face long before they enter the seven-figure club.
Nearly half of Americans in a Bankrate survey said they would need an annual salary of $100,000 to live comfortably, and a quarter said their threshold was $150,000 (8).
But those who actually earn $150,000 don’t necessarily feel comfortable.
In fact, in 2024, about one in five Americans earning more than $150,000 a year said they were living paycheck to paycheck, according to the Bank of America Institute (9).
It’s called lifestyle inflation. In other words, you can’t overcome bad spending habits.
Optimizing your budget could give you a sense of security and financial freedom, regardless of the size of your paycheck.
Living within your means is a challenge, especially when your income increases rapidly. But there are ways to resist the natural temptation to spend too much.
Perhaps the most effective strategy is to set a fixed, automated savings rate.
If you’re looking to build savings, a high-yield savings account is another possible place to start. While the average national interest rate is an APY of 0.40%, online banks can offer you much more competitive returns, in some cases up to 10 times more.
You can check out Moneywise’s list of the best high-yield savings accounts of 2025 and find a deal that fits your savings goal.
You might also consider using a money-saving app that automatically allocates 10% or 15% of your monthly income to savings and investments. If your cash is too tight for an automatic transfer, consider an app like Acorns that can make the most of your leftover change.
Even small amounts can grow over time with Acorns, an automated investing program that rounds each of your purchases to the nearest dollar and invests the difference for you.
Signing up for Acorns takes just a few minutes: Link your cards and Acorns will round up each purchase to the nearest dollar, investing the difference (your extra change) into a diversified portfolio.
With Acorns, you can invest in a dividend ETF with as little as $5, and if you sign up today, Acorns will add a $20 bonus to help you get started on your investing journey.
A 2022 study published by the Consumer Financial Protection Bureau found that such guaranteed savings rules significantly increased savers’ chances of reaching their financial goals (10).
Another way to address lifestyle inflation is to delay major lifestyle improvements for as long as possible.
If you find that your income suddenly allows you to move to a bigger house or upgrade to your car, delaying that decision for six months to a year, for example, could give you a period of accelerated savings that can add up over the long term.
You can also look for ways to save on these necessary expenses. OfficialCarInsurance helps you instantly select the best policies from auto insurance providers in your area, including trusted names like Progressive, GEICO, and Allstate.
With rates as low as $29 per month, you can find coverage that fits your needs and potentially save you hundreds of dollars a year.
To get started, fill out your information and OfficialCarInsurance will provide you with a list of the top insurers in your area.
Whether you make $80,000 a year or $20 million, the battle against lifestyle inflation is the same.
The numbers change, the psychology doesn’t. That’s why it’s so important to track your expenses. Traditional budgeting can be overwhelming at times, but apps like Rocket Money can simplify the process.
Rocket Money tracks and categorizes your spending, providing a clear view of your cash, credit, and investments in one place. You can even uncover forgotten subscriptions, helping you cut unnecessary costs and potentially save hundreds of dollars a year.
For a small fee, the app can also negotiate lower rates on your monthly bills, making it a valuable tool for keeping your finances on track.
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The Pivot (1); x (2, 3, 4, 5); Clutch points (6); CBS Sports (7); Bank rate (8); Bank of America Institute (9); Consumer Financial Protection Bureau (10)
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
