The Compound and Friends - The Business of DK Metcalf

Episode Date: May 1, 2023

On this special episode of The Compound and Friends, Michael Batnick and Downtown Josh Brown are joined by DK Metcalf and Joe McLean to discuss how professional athletes manage their money, building a brand off the field, that time DK chased down Budda Baker to prevent a touchdown, and more! Check out the latest in financial blogger fashion at The Compound shop: https://www.idontshop.com Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Josh Brown are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here https://ritholtzwealth.com/advertising-disclaimers. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: https://ritholtzwealth.com/podcast-youtube-disclosures/ Learn more about your ad choices. Visit megaphone.fm/adchoices

We got all your favorite shit. Yeah, I see. See, we pay attention to detail. Honestly, so I didn't know you were a Skittles guy when I first saw this. I said, holy shit, these guys thought he was Marshawn Lynch. Oh, no, no, no, no, no. Because he was obsessed with Skittles.

Different Skittles. Different Skittles, yeah. No way you're eating this stuff. Who? You. Are you really? You're like in peak physical condition. I eat this stuff.

That's my trainer right there. You want a Skittle with this?. That's my trainer right there. You want to skip over this? Get in there. Get in there. Thank you. Thank you. So how long have you been in New York? 19, 24 hours.

Oh, really? Okay. Joe's got you running around. You got yourself running around. Okay. I hope for a good cause, though. For sure. And I love that you're so passionate about doing so much off the field.

And, like, we're going to get into all that stuff. I think it's great. What do you like about New York when you come here? What do you like to do? I ain't been here in two years. I used to visit my agent out here every offseason. Parties out here. Yeah.

After that, I mean, I just like the culture. It seems like it's like a big mixing pot of everything and everybody. No doubt. I just like seeing different people and feeling different vibes of people. Would you ever play here? No. I know. Not in the plan right now.

I know. What's the time frame?'s only so you've got what do you have to do for that I did that years ago What do you have to do for that? Good pecs. All right. I like First Republic. I never I never I never Did I want to see First Republic? I never won that. You're hitting home with it. It's not one in Seattle. Oh, okay. Yeah. Sorry. They're actually really good people.

I've heard. I've heard they're great. Great service. It's a shame. What? First Republic? Yeah. They were giving out 1% mortgages and stuff to very wealthy people.

I don't think that's the problem there, though. Well, we saw it in real time when Silicon Valley, that hit the fan. Literally that same day, everyone's calling FRB because that's their other buddies on the West Coast. And everyone's transferring their cash from Silicon Valley to First Republic. And then another four days. But something about the way PacWest is handling it versus First Republic is different because PacWest stock is going up right now. So they must have made a different decision in the moment. It was a little bit.

If you watch, all of a sudden the CEO wasn't talking and then the chairman came back in and started making a lot of decisions. Yeah, it's never a good sign, right? Yeah. Okay. So where are you guys all day? We're at Bloomberg this morning, and then tomorrow he's got get up and first take. Oh, nice.

And then New York Stock Exchange on the floor, and then we'll do the stock picking draft. Okay. At 2 o'clock. You're going to do the bell ringing? No. Okay. At some point when he launches DKM Enterprises, You're going to do the bell ringing? No. Okay. At some point when he launches DKM Enterprises, he's going to do it.

He's going to do it then. Yeah. All right. I just came from there today. Did you? Yeah. It's quiet. Nothing gets really done there.

No. So the exchange in the 1990s was like at its peak, 80s, 90s. And now it's just like TV stuff. Like it's like a set. It's like a TV set. But the thing they still do well is the bell ringing. Like when companies want to celebrate 10 years

or they've been public or whatever, they still, they go all out. Like company bring all their employees and that part's still fun. And then in the middle of the day it's just like seven or eight guys walking around that used to be where everybody was shouting making trades right it's it's crazy wasn't it die 2000 i think because everything just went on to computers and you just didn't need the guys yelling at each other anymore yeah

you know the najarian brothers So they're former football players. And they started out on the floor in Chicago. And it was a physical job then. It wasn't about – Just to get space and get access. Yeah, because it was open outcry. So you had to get – you had to cut through the pack of people to be like the guy that gets the trade done.

So they had a lot of football – they had a lot of like ex-athletes hockey players football players um because because we had we had joe schlesinger here do you know she is she's cbs news like financial commentator she was an options trader and they said don't go to chicago like you'll never you'll never be able to you'll never be able to fight through these guys and she was like a college athlete but just not physically big enough did you you were i mean you were a broker back in the day right yeah would that go was that going through that exchange yeah yeah yeah it was two places to trade yeah it was new york and nasdaq now open up a server trade like it's it's a whole. It's a whole different world. But they keep it going for ceremonial purposes.

Yeah, cool. All right, so the plan for this is we're going to release the podcast on YouTube like Monday-ish. Guys? Yeah, Monday. Monday? You have to wear the hat. At least 25 people will see this. You have to wear the hat. It's a giant hat, yeah. I'm sorry. There were a couple of Eagle calls on the hat. At least 25 people will see this. You had to wear the hat. It's a giant hat, yeah.

I'm sorry. There were a couple of Eagle calls on the streets. Oh, yeah? With the green shirt. Oh, yeah, I bet. Actually, your rookie record was against the Eagles for the playoff game. No, I own the Eagles. It wasn't?

I own the Eagles. I'm saying, but you set a record for most yards against the Eagles. I have the Eagles on my team. the Eagles. I'm saying, but you set a record for most yards. Yeah, I guess the Eagles. The Eagles are mine. The Eagles. Guys, we good? Okay. Yeah, we're looking good. I'm just going to come in with three claps for sound sync.

We're going no headphones? Not necessary? Why? Yes, necessary. Okay. It's up to you. So the headphones are so that you make sure that you're speaking into the mic, because you can hear yourself when you come back, because it's Nessa. Okay. It's up to you. It's up to you. So, the headphones are so that you make sure that you're speaking into the mic. Because you can hear yourself when you come back because it's really sensitive.

Okay. John, I'm not plugged in though. Now these are the Skittle gummies. I've never seen these before. Which, honestly, the Jolly Ranchers taste exactly like- Take that watermelon. Yeah. And take that blue and that purple.

You're saying the Jolly Rancher gummies taste exactly like Jolly Ranchers? The watermelon Jolly Rancher tastes exactly like the hard one. The pink one. No, no, no. The pink one. Zero percent. Take that. The green one?

Yeah. This one? Green one. Same time. Josh, have this. And the draft is tomorrow. Have this pink one. Right?

Have this pink one. It tastes exactly like the hard one. All right, I'm about to talk though. All right. I'll talk. I'm an artist. You're good. Okay.

You're good. What you want to say, I'll do it for you. I'll do it for you. I got it. Special episode one. Oh, wow. Is that working? Yeah.

We're in business. Give me my music. Welcome to The Compound and Friends. All opinions expressed by Josh Brown, Michael Batnick, and their castmates are solely their own opinions and do not reflect the opinion of Ritholtz Wealth Management. This podcast is for informational purposes only and should not be relied upon for any investment decisions. Clients of Ritholtz Wealth Management may maintain positions in the securities discussed in this podcast.

Compound and Friends special episode. Bring it in. All right. So, Mike, I think you're going to host this episode. And I think that's appropriate. Okay. Okay, let's go. All right.

We are super excited today to be joined by DK Metcalf and Joe McLean. I'm going to give an intro for you guys. I'm going to read. It's going to be awkward. Just stay with me for a second. All right. DK Metcalf is one of the best wide receivers in the National Football League. He wears number 14 for the Seattle Seahawks.

What is this one of? What are we doing here? I mean, it's one of. There's a lot. Come on. Isaiah Hodges on the Giants. We need respect there, everybody. We need help.

We need help. Help us. All right. DK holds the record for most receiving yards by a rookie in a playoff game. Most yards in a season for any Seahawk. In just four seasons, he has already over 300 receptions, 4,200 yards,

and 35 touchdowns. He is the owner of one of the craziest highlights in NFL history. When he ran down Buda Baker, who had a 20-yard head start. Remember this one? Yes. We were playing clips now. I want to see the reaction. All right, DK is going to do big things once his NFL career is over,

but for now, his sole focus is winning games for the Seattle Seahawks. Unbelievable. I remember this in real time. Was this Monday night or Sunday night? Sunday night. How many people ask you about this? Everybody. Everybody.

I mean, this is legendary shit. I mean, all right, no doubt, no doubt. All right, Joe McLean. Joe is the Chief Growth and Innovation Officer

and Senior Managing Director of MAI Capital Management. Joe provides planning and investment advisory services to professional athletes, entertainers, and entrepreneurs. His clients include

Academy Award winners, NFL and NBA World Champions, MLB All-Stars, and PGA golfers. Joe played college basketball for the Arizona Wildcats for legendary coach Lou Dolson, alongside NBA stars Michael Dickerson and Jason Perry. And Miles Simon, who was an insane college athlete and didn't quite make it in the pros. All right. He coaches for the Lakers now.

He coaches for the Lakers? Yeah, he's coaching for the Lakers. Oh, no shit. I did not know that. Guys, welcome to the show. Thank you. We are- Coaching the Lakers now. He coaches for the Lakers? Yeah, he's coaching the Lakers. Oh, no shit. I did not know that. Guys, welcome to the show. Thank you so much for doing this. Thank you all for having us. This is so exciting.

So we are super excited to have you guys. We're going to be talking about athletes and money and all that sort of stuff. We're going to start out with, we're going to rewind the clock to the NFL draft. I remember when you were drafted.

I'm not a, I'm a huge NFL, I'm a huge Giants fan. I'm not a big college football fan, but you came out of the scene with those pictures. Everybody's like, who the f*** is this monster? That's a wide receiver. He looks like a defensive end or something. So I want to know, and I'm sure you get this all the time, so I apologize for bringing it back up, but what was the draft like? You were the ninth

receiver drafted and some of the lists of players that were drafted before you, it's like laughable at this point, but I'm sure in real time that was probably agony for you. So what was it like being the ninth receiver drafted? Are you thinking about like just ego, financials, like I'm with my whole family, I'm embarrassed? What was that like for you? I would say it's more so an embarrassment because I actually went to the draft and my family was there

and they had to just sit and watch me go through, you know, that process of watching nine receivers, well, two receivers in the first round. And then seven others get drafted before me the next day. You know, it was just, I just felt embarrassed. And then the question came up through my head, like, am I, am I even good enough to play in the NFL? You know, which is laughable now, but you know, when you're sitting there and you got 63 other people drafted before you, you kind of get to replay all the mistakes that you made and all the reps that you didn't do or the decisions that you didn't make

properly while you were in college and growing up. And then right after your name is called, it's like, why was I even mad? Did you meet with these teams in advance and be like, I thought this was done, like i thought i was good um i mean yeah every team that drafted the receiver yeah i remember walking out of the uh cardinals uh draft uh meeting and i said you can either play against me on sundays or get your ass whooped by me at practice that's right you know pick your choice and they took andy isabella is that who they took andy isabella and byron Murphy.

Like, AJ Brown and Debo is one thing, but as I'm going to the list, I'm like, oh my God. Oh my goodness. So who do you talk to in that moment

to like get, get re-centered, re-focused? Because you still have your whole career ahead of you and now, I almost would argue like, it's kind of good

having a chip on your shoulder. I know I do. You must have from that moment but like who do you talk to in that moment and what do they tell you uh well my dad was a big person for me uh that i that i leaned on for most of my inspiration and anytime i was going through anything uh because he lived the life of an nfl player um you know nine ten years before me so just to see his son in that same moment it was like you know it was a blessing uh a blessing, uh, you know, for him to go through that process. So I couldn't, you know, downplay it. Like it wasn't just a blessing for me to just even be considered in the first or second round.

Um, you know, looking back at it, uh, I was mad, I was angry, but you know, now nobody even, you know, says anything about the 64th pick or about draft night. I was watching that video of you and your dad crying, man, that got me a little dusty. That was a hell of an emotional moment. It was a blessing just to hear my name called. It was worth from that point forward. Are you a person that thinks that things happen for a reason and that this was supposed to be the way it played out?

Oh, for sure. Because it looks like that from the outside looking in. Yes, sir. I mean, I look at signs, and I never take anything for granted. And for him, I mean, for God to put me in the second round to go to the Seattle Seahawks. And I was just looking at my meetings the other day, actually from the combine and the Seattle Seahawks. I met on a Wednesday and that was the only meeting I had that day. Okay. And it was the best meeting that I had. Okay.

And then for them to take me, it was like, you know, a breath of fresh air. And when I got up there, you know, it was just work time. So what is it like at that stage? Like, I'm curious, a lot of questions for you. I'm curious what it's like being a 20 year old kid going to a new city. But before you get to Seattle, what is the process like at that stage of, do you find an agent? Is the agent setting up those meetings? What is the negotiating like? Like, can you negotiate with an agent? Like, what is that whole process like? Uh, so I, I didn't meet with, I mean, I didn't negotiate any of my agents. I met with, uh, my dad talked to all of the agents and then, uh, filtered out everybody. And, um, I, I signed with, uh, my agent, uh, my last year, like middle of the season of my last year of college. Um, and then the next meeting I had with them, I came in with a

neck brace on because I broke my neck my last year of college. And the first words they said to me were, you know, if you don't come out this year, we'll still take you next year. And that was like a sigh of relief because they bet on me and they believed in me. So, I mean, I just went with those guys because to see me at my lowest point, they still had confidence in me that I was still going to be a great player. Because it didn't have to turn out with an injury like that. Exactly. It didn't have to turn out that way. Yes, sir.

But so you're 20 years old, you're going to Seattle. I think as sports fans, we forget like how young these kids are. Like, it's crazy to me that you're so much younger than me because you're like, you're such a grown man and you're a professional athlete, but you're 20 years old, you're getting to Seattle. What is that like? I mean, I just— I hope you like seafood. Right. I love sushi, so it was a good match.

That's good. I mean, the first people I met when I got to the locker room were Russell Wilson, Dwayne Brown, and Tyler Lockett, and Bobby Wagner. So I just started to surround myself with people that were successful and at a level of playing that I wanted to get to. So I just started to surround myself with people that were, you know, successful and at a level of playing that I wanted to get to. So I just started to mimic their every move. Bobby Wagner must have been so important to you. Oh, yeah, for sure. In that time. Yes, sir.

And, you know, having him back now is just even bigger because having somebody of that caliber to mimic and look at and not just see, you know, how he carries himself on the field but off the field is just, like, big for me because, you know, I'm just trying to mimic his every step because he's a 10-time All-Pro, you know, Pro Bowler. Still doing it. Exactly, and that's exactly where I'm trying to get at. So I'm curious, before we get into some of the money stuff, how did you meet Joe?

I met Joe through a referral. So I was switching financial advisors. And a good friend of mine referred Joe to me and sat down on the call with him. I was sitting in Arizona. And I specifically asked him, I said, I don't need anybody just to manage my money. I need somebody who's going to teach me along the way. And he said, all right, I got you. And he never wavered from that promise. And, you know, he's still sitting right here beside me today as, you know, not only a financial advisor but a business partner. So, I mean, I just take that relationship very seriously, and he does too. And, you know, he sees how great I can be, and he wants me to be great.

So, I mean, I got to keep people around me that show me that level of respect. How common is that, what DK is talking about? Because, like, just I think in the public consciousness, when you think of, like, oh, this guy is a financial advisor to athletes, he's probably saying things like, don't worry about it. I got it. Don't worry about it. I got it. And not so much in a mentorship role. Is what I'm saying, like, more of a stereotype than the reality?

Or are most of those relationships more like what I'm saying like more of a stereotype than the reality or are most of those relationships more like what I'm saying? I think I was like that early on. You were like, I'll handle it. I'll handle it. Well, it was one of those like, okay, I played professional sports for a second, got caught a lot, and then I went into the financial industry for 15 years and then got into sports and thought like, okay, I have a 15-year head start on you. I got this information that I learned from other rich people. Just do this. Right. And that, and then I learned as, as some of the

clients went from one contract to the next, to the next, that I need to start listening to what they're doing. Cause there's a lot of stuff I can learn from them. And then that's when it became more of a co-pilot and relationship because for a while, I'll be honest with you, you know, 10 years ago, I was trying to race ahead to whatever their next deal was. Like, what am I missing? What do I need to know as a young advisor? Because the money's going from $2 million a year to 10, to 20, to 50. Right. So how do I get ahead of it? And then I just realized as a teammate, just keep building the locker room around with good people. It doesn't just have to be me. It could be a bunch of other people helping educate too. So DK, your rookie contract being,

I guess, towards the end of the second round, was relatively modest. Still a f*** ton of money. I'm sure more money than you ever saw at a paycheck. But when you got your first paycheck, when you see all of the shit that's coming out from taxes to like equipment, whatever, whatever, agent,

and then you see what's left, what was your, do you remember what your first reaction was like when you got your first paycheck? Yeah. You called Joe. No, I called my agent directly. I said, Hey, what is this, man? Yeah. Right. Um, what is federal tax or why am I paying 49%? And I just had a lot of questions, but you know, to eliminate all those questions, I really had to educate myself on what was going on around me to where I could capitalize on why I'm losing this money and how can I make it back

or how can I be better with saving my money for not only myself, but for my family and my future. Do you think that's one of the things that most people misunderstand when they see whatever number your name is attached to and they think like you just have that money? Oh, facts. Or you're getting that money.

They have no idea, right? You might as well cut that in half. Like, yeah, you got $80 million. Is there anything that comes out of the paycheck Where you're getting that money. They have no idea, right? You might as well cut that in half. Like, yeah, you got $80 million. Up your arm. Is there anything that comes out of the paycheck that's like, that the normal person wouldn't believe? Like, for example, I don't know, shoes, equipment. Who pays for all that?

No, that doesn't come out of the paycheck. But the agent fees. Write-off. Yeah. No, no, no. No write-off. Right through. Right through your bank account to theirs. What was the first big purchase that you made?

My rookie year, I bought a car for my birthday. Okay. And that was it. That was the only thing I spent my money on my rookie year. Okay. You're in Seattle, so probably not a convertible. No. Okay. So you're now five years into the league.

I'm sure you've made some investments, some decisions that work, some didn't. How is your thinking on money and what it does for you and how you want to invest and spend and save it? How has that changed over time? It changed because it went from like a transactional one-year plan to a 10-year plan or a 20-year plan on how I could save my money and make my money work for me now to where when I get out of the league or when I retire, it's a smooth transition to where I don't have to worry about a next paycheck. I just get to do the stuff

that I want to do and help the people that I want to help. Yeah, so I don't know what the average NFL career is. I know for running backs, it's like two and a half years or something. I don't know what it's like for receivers. I'm sure it's a lot more than that.

But nevertheless, you've got what? Like, you got your extension. God willing, you've got like maybe one left in you. Who knows? what it's like for receivers I'm sure it's a lot more than that but nevertheless you've got what like you got your extension God willing you've got like maybe one left in you who knows but it's finite right it's not a 20-year career so how do you balance

like you want to enjoy yourself today and you don't want to like deprive yourself but you also you have got to make it last the rest of your life your family your you know kids, grandkids

all that sort of stuff so how do you balance that? I'd say the best way to balance it is just knowing and having a conscious, making a conscious decision that you have to plan for your retirement. But at the same time, it's okay to live day to day. Like they could coexist and you can, you know, buy yourself a nice watch,

but you have to also save and put money away, you know, for when you retire and you still have to pay for your daughter's dance or for her to go to prom. So I think it's just having that conscious decision and Joe helped me along with this is just saving 80% of my net taxes and then making that 20% my investment money or my splurge money or my entrepreneurship money. And just having that conscious decision that 80% is working for me sitting in a bank and collecting interest while I'm out here and working from paycheck to paycheck to where I don't have to worry about anything else because I can go to sleep at night knowing that I still have 80% of my money in the bank working

for me. So we live in an era now where the top tier athletes are not planning a lifestyle where they're going to live off their football or basketball money. But they're planning something much bigger than that. And the pro career on the field is just the springboard. And I think that's probably something that's just in the last 10 years. Like I don't think that's something that really even existed. And you guys probably know a lot more about this than I do. But this idea of having a plan where football is included, football is not the main thing.

First of all, I love that. But can you guys talk a little bit about the thinking behind how much bigger DK Metcalf, the business could be beyond whatever happens in the next contract? I would say two years ago when I ran in a track meet, I finished the track meet. I didn't win anything. I got seventh place.

But everybody that was around me after the track meet was like, thank you for bringing so many eyes to the sport. I'm a football player, and I helped boost the ratings of a track meet. So I knew then that, okay, I can be somebody big in the sport. I'm a football player and I help boost the ratings of a track meet. So I knew then that, okay, I can be somebody big in the world. And anything I put my mind to, I can succeed at doing it. So capitalizing off my name and likeness now and not when I retire is one of the biggest decisions that I made. And how do I continue to capitalize off of that? I'm not just a football player. I'm going to be an actor one day. I love fashion. I love watching movies, directing movies, producing movies. I want to

have my hand in so many different pots to where the next generation of athletes or the next generation behind me can put their head down and say, okay, I'm not just going to be solo and just be put in a box to where people can just name me. Like, no, you can be whatever you put your mind to. And that's just one thing that I'm trying to encourage people and inspire people to do is just don't let somebody just put you in a box and just say you're a workout warrior or you're just an athlete. No, I'm more than an athlete. I can sit in business meetings with top execs of a head. And I can make business decisions because I'm just that knowledgeable in that area to where they're going to listen, not only because

I wear a jersey and, you know, their son or their daughter loves me or loves the football team that I play for, but, you know, I'm also knowledgeable in the area to where I can make a decision that's going to change your life and your business's life forever. I love that. And you could extend your prime. Your prime could go into your 60s if you're successful. So what do you have to do from an investing standpoint to prepare for what DK has in mind? So I think it's what he referenced earlier. It's choosing that percentage of lifestyle you're going to live off of

before the lifestyle chooses it for you. So that 80% knowing that that's automatic. So delayed gratification. That's non-negotiable, right? On your end? I mean, it's a copilot. He can go to 90 if he wants to go to 90. We'll top off at 80.

When we spoke to you years ago, we were like blown away that you are like so adamant that if your client's not serious about saving money, you're not going to work with them, period. Yeah. I mean, I got three kids and you want to leave the house and do something that's meaningful and make impact. And so when you have people like DK that want it even more than you want it for themselves, that's huge. And so it'll be a learning process for over time. Clients will get it regardless of walk of life or how they make their money. If they get it, they get it.

So it's got to be a mutual respect thing. And now, you know, so it can't be fear. You do this, you're going to go broke. You know, now someone's going to get drafted by Seattle, you know, tomorrow. And then when he's in the locker room, they're going to go directly to his locker because he's a pro's pro. Like that's a respect level that he now has in the locker room that I think even in college or in high school, you know, you don't typically aspire for that. Like you had posters of players on the wall, not paychecks and not an enterprise. And now he's an enterprise.

So building out a plan to make sure even if some of these other entrepreneurial things that he has going on doesn't work, you still have 12 to 24 paychecks paying you for the rest of your life. That's stuff that never no one in school ever taught us. And so now that he's building out DKM Enterprises and has something he wants to do in fashion, building out production, being in Hollywood, having his foundation set up and doing meaningful things in Seattle and Mississippi, it's now every move he makes, one plus one, he has to equal six.

Don't be a pass-through entity just doing a deal to get a check for three years. That's what a lot of athletes have done. You've got to build equity. It's all ownership and equity, but it's something that we're doing. When they start developing the foundation, DK is going to have internship programs, and there may be some young African-American young people wanting to get into design or in fashion. They're going to do internships through the foundation. His production company is going to develop their content,

and then he'll be able to distribute that. If you're in movies, you can take the fashion and put that center stage. There's a lot of different things you can mix up. What sort of movie got you? What's your favorite movies? Oh, I love horror movies. Okay.

Dude. I'm a big horror movie fan. He goes to the theater to buy the experience. By myself. With popcorn and just enjoy it. I told you I'm not a f***ing

Anybody else in the theater? It's not just me. You still are. You still are. Go ahead. Joe, so you as DK's advisor, would you describe yourself

as like the head coach and then you've got lawyers, accountants, like as coordinators, like how does that relationship work? Yeah, because you guys talk, you talk about having a locker room, a professional locker room. That's a really interesting concept.

You want to be surrounded by players like away from sports that you feel a camaraderie with. So it sounds like you guys have assembled a much bigger team. The Avengers. Yeah. All right. So tell us about the Avengers. You know, it's ever-growing.

Like, as DK knows, you've always got to be in a room where everybody's smarter than you. Do you need a podcaster? Yeah, we're working on it. All right. No, but for real, like, I'm just curious,

like, do you go to the ATM machine? Like, how does the life of somebody with money who is professionally, like, your life is sports, right? You have to be training. You don't have time to do, like, all—you're not going to the grocery store, I assume. Maybe you are.

But, yeah? Okay. Yeah. So, how does— I mean, the way I live my life, I don't try to, like, be above anybody. Like, I'm still a normal person. I still go to the ATM. I still go to Target, do my Target runs or everything.

But just knowing who you are, I think, is a big part of who I am. I think the most dangerous person is somebody that you can't tell me who I am because I already know who I am. So when I go out in public, I mean, I just know who I am. If a kid sees me and recognizes me, I'm going to stop and talk to him and try to inspire him and make his day. How was walking to New York City?

I mean, it was 10 people. DK! I'm like, what's up, bro? What's up? How you doing? But, I mean,

just trying to put a smile on. That's also part of the brand, though, that you're like that. Exactly. And that's what makes you an appealing brand, not just a famous athlete,

but like, people like that grounded, that groundedness that you're talking about. I mean, yeah, if you can relate to somebody, then that just makes them that much more attractive, not only physically, but you can personally attract to somebody. So getting back to football, every year there's players that hold out.

You see other people getting contracts. I think Debo did it last year. I can't remember what other receivers did it. But when you see people that you think that you're better than getting contracts, how does that make you feel? Do you yell that you're better than getting contracts, you like, how does that make you feel? And do you yell at Joe, your agent?

How does that work? No, you can't yell at anybody. Cause you know, your time is going to come. If you, if you deserve it, then you know,

it's going to come. I can't look at, you know, Debo or AJ or compare myself to anybody. Cause our walks of life are different in our paths to getting our contracts. We're different. But at the same time,

we all had the same agent. You know, we all were going through the same process together, but everybody got their bread at different times. And, you know, when you sign your name on a dotted line, nobody's thinking about why'd you hold out or anything because you've just changed your life and your family's life and trajectory of life forever. What's it like playing with Tyler?

Like, what's that relationship like? You guys really competitive behind the scenes with each other? No, not even competitive. He's like a big brother to me. He must be so awesome. I love T. Yeah. From the moment I got in the locker room,

he was like, bro, I know they drafted you to be the number one receiver. Go be it. Yeah. For somebody to say that to a rookie. That's the first thing he said? Yeah.

I mean, like, he has no hate in his heart, no ill will. Like, he still teaches me stuff today. And when I'm watching film, I'll, like, he has no hate in his heart, no ill will. Like, he still teaches me stuff today. And when I'm watching film, I'll ask him questions about, hey, what did you see there? Why did you run around like that? Like, Tyler's the most smartest, compassionate person I know. Let me tell you one other thing about Tyler. So he was looking at thinking about buying a condo in Seattle.

He was, by the way, the first guy to sign a big contract and want to downsize. And so looking at a condo, and Tyler went out and has his real estate license, you know, represented us looking at different stuff. I mean, he came, he called us in advance, had 10 different properties. He gave me the market comparison of everything that's out there. There was one situation, I think it was like $100,000 above our budget, and he kind of pulled it aside. He's like, I don't even want to show DK this because this is outside the budget.

Is this okay? Do we move forward? Like, I had never seen somebody take that type of time. He was there an hour before we even got there, just getting ready and prepping. And he's got a full-time job in the NFL. Well, you two guys are terrorizing defenses at one-two punch. Are you guys the best duo in the league? For sure.

For sure. I mean, we're in Seattle, so it gets downplayed a lot. But, I mean, yeah, I love T, and that's my road dog to the end. Like, I'll fight somebody over Tyler, like, for real. Who's number two? Dolphins? Bengals? I mean, we don't worry about anybody.

Good answer. Good answer. We don't worry about anybody. I heard you talking about, first of all, how great are the Seattle fans? Like, how awesome is that as a football city? Yes. I mean, it's a sports city from the Mariners to the Storm. I mean, back to us.

If they get an NBA team, then, you know, I'll be. They need an NBA team. Yes, they do. That was highway robbery. Yeah, those fans. You might be ready to play on that NBA team. I saw you jamming at the celebrity game. I mean, a little 10-day won't hurt.

So I heard you talking about Seattle in terms of it almost being like a second home city for you. And I know you're really passionate about where you come from. But tell us a little bit about what you love about the city itself and just being a part of it, living there. Right. I mean, growing up in Mississippi, I went to school 10 minutes from where I grew up and where I went to high school. So it was just my first time away from home. And I didn't feel like I was away from home any. You know, I'd go out and I'd eat at the local, you know, Korean spots

or get sushi at the local restaurants. And, you know, nobody really bothers me. Like they'll say what's up and say hey and let me be. And that's what I live for is just peace and respect. And that's what they've shown me ever since I've gotten there. And on Sundays, they're cheering loud. And I haven't heard a stadium louder than the 12s in Seattle. Oh, I forgot it.

Famous for the 12th man. Yes. When you were working out your deal with the Seahawks, how do you personally think about the guaranteed money versus betting on yourself with incentives? Football is a brutal sport in terms of there's a lot of power with the owners and unfortunately betting on yourself with incentives. Football is a brutal sport in terms of there's a lot of power with the owners and unfortunately less so with the players. It's, you know, with the injuries, I sort of, I get, I get it. So how do you think about betting

on yourself versus the guarantee? I would say, I would take the guaranteed money because, I mean, the only incentive I have is just being a great teammate, a great, great locker room, you know, personality for the team to play better. room, you know, personality for the team to play better. So, you know, with anybody getting their contract or negotiating their contract, I would say get all your money up front because you never know when your last play is. So after the guaranteed money, I mean, bend on yourself with incentives. I mean, only incentive I have is being a great teammate and winning the Super Bowl for the city. So that's the only, you know, incentive I have. Gino Smith. Holy shit. Holy shit. He was like

legitimately very good last year. I mean, there was like some plays where he's making throws across the side. I couldn't believe it. Like he's been in the league for a while. He did a quick sit with the Giants. I was just drafted by the Jets. I did not see that coming. When did you know that he was going to have that type of season? I mean, when you sit behind a Hall of Fame quarterback, you know, you kind of get a little motivated as to why I'm not playing. And when he got his shot, he just took full advantage of it. And, you know, for anybody who's taking full advantage of their opportunity, of course, they have to, you know, get their, you know, get their payday as well.

So congratulations to him on getting his bread. He earned it. I mean, just, I think just being behind Russ and seeing how Russ operated and worked every day, he came in with that same mindset. He didn't mimic Russ, not one bit. He just did it his way and just gained respect of the locker room one game at a time.

And when everybody's seen how much hard work he put in and how serious he was about his craft and about the sport, I mean, it just changed everybody's perspective on him and how they viewed him as a football player and a man. Amazing how fast that could happen too. Exactly. He's like a journeyman for what, 10 years? Probably, right?

I think it was ninth or 10th year or something like that. Joe, you have this great list, 50 reasons professional athletes remain wealthy. And as I was going through it, I was laughing at some of the things in here and we won't read them all. was going through it i was laughing at some of the things in here and we won't read them all um but it occurred to me how relevant these things are not just for professional athletes but for but for everyone before we get into some of the items on the list and i'd love for you guys to react to them how did this come about is this just something that was in your head and you just said let me let me write it no so this was years ago i had i probably got my eighth email from a media request

asking give me another horror story of someone going broke or the media loves that shit all the stuff they want all the headlines and i remember i was sitting next to my wife and i just got so pissed and and i opened a bottle of wine i said you know there's all these great reasons why people stay wealthy and why they all the good things because there's most of the guys are doing great things so i'm gonna i just started rattling rattling off things that I knew were working. And then I sent a group chat text, this was years ago, to every client. And it was crowdsourced, probably from 8 p.m. to 1 a.m. People were throwing out their ideas.

So a lot of them were common, but that's how we got to 50 different. All right, so let's go through a few of these, because I think some of them are— You can figure out which ones are mine personally too. All right, so the first one, pay yourself first. This sounds so obvious, but it's not obvious in the moment as you go decision by decision. You could wake up and repeat that mantra to yourself,

pay yourself first, but then people call you, shit happens. If you don't make that one automatic, it doesn't work. If you have to make a decision every month to then go pay yourself, so you've got to find a way online to make that automatic. Don't take advice from poor people. Not poor in the pejorative sense, like it's a judgment. Kanye said something like this. I don't take advice from anyone with less money than me.

That was a – I was a former college teammate who lost his entire first contract and then realized he was taking – he really loved his family and his friends. But they were not in a position to have an opinion on this stuff. And so they were the one managing all the money, and then he realized they're really good at being poor. And so I've got to find a way to think differently. Okay, so taking advice from generational wealth experts, again, sounds obvious, but if you're a football player, you just spent three or four years in college with tunnel vision,

focused only on getting better, getting better, getting drafted. How do you know who's an expert and who's not? Everyone says they're an expert. So how do people follow that particular piece of advice? I think some of it is also going to teammates, been there, done that, getting outside of sports. who's not, everyone says they're an expert. So how do people follow that particular piece of advice? I think some of it is also going to teammates, been there, done that, getting outside of sports.

So there's a lot of even people wanting to get into financial management and sports because they love sports. It's like, that's irrelevant. What are you bringing from a different part of the industry that's very, very relevant? So they have the chance to work with the owners and get to know them. And those are all multi-generational type wealth. And so building that locker room.

Uh, DK, he has a number 12. They don't chase another dream. They live the existing one. How does that hit for you? Um, don't chase another dream, live the existing one. Being the moment is what I got from that. Don't go basically living for other people. Live your own dream and your own aspirations and don't try chasing anybody else's dream. Okay. 29. Hang on.

They get their family out of debt before buying a gift. This seems like it would be something that comes up all the time. Yeah, I think it's- Because people want to do nice things for those around them. They just don't know what's the right thing to do. We just talked about it. It's, you know, get your wife,

get your mom a house and a financial plan. Because if they don't have the financial plan, the house eventually goes away. So how do you get the first house that then leads to a bigger house? Okay, I like that. You're telling people to play golf. What's up with that?

No, he still needs to- I mean, I know why he's saying that. A lot of business plans. But why is that on the list? Learn to play golf. A couple of things. It gets you out of your comfort zone, especially if you've never grown up around the game.

It puts you in a space where there's a lot of successful people and networking. But first, it's really out of your comfort zone. Something you've never been engaged in before. That could be another story. It's five hours that you're not doing other shit also, which has got to... I think it takes your mind off stuff too when you're out there.

What's 29, Mike? Oh, the rims are 21 inches or less. That one's mine. Was that a joke or are you serious? What happens? So I was, I was a whole financial wholesaler. 22 year plans blow up. 22 is getting done.

No, think about it. So I had a 40 expedition. I had put 22s on them. I think I was 26 years old, feeling really good about it. You know, they didn't have the camera back then. So you try to park, I curbed, I curbed the wheel, cracked the rim. It was $2,500 to fix it. It was like, never again. So a true, a true pro is always 21 inches or less. Um, you say they, we just,

you say they redefine the meaning of money. What does that mean? I think if you, you know, if you remember psychology, the Maslow's hierarchy of human needs, most of us are, are stuck in safety and security and just thinking about money as a form of payment to pay bills and get yourself out of debt versus something that could be fulfilling yourself, self-actualization, helping other people. Most of the time, even if you're aspiring to be an NFL player, you're thinking about getting on the field, not the money comes with it. And then once the money comes with it, how do I think beyond just the materialistic things that come with it? DK, are you enjoying the offseason?

Oh, yes. Yeah? Yes, sir. You're looking forward to getting back to work, or you're just enjoying yourself for now? I'm already back to work. When do they call you back? It's July or August?

July. We have to go back in early June for Oates' minicamp. Oh, okay. And then back again in August. I mean, end of July, early August. So who's going to win the NFC West next year? I'm sorry, what? Who's going to take the NFC West next year?

Why are you thinking about the NFC West? My mind's already at the Super Bowl. There we go. Well, you guys are awesome. And I know that you've been running around New York talking to a lot of people. So we really appreciate so much. Happy to be here. You're coming through and talking to our audience.

And you're very inspiring. And it's just an honor to meet you. Joe, you're OK. That's fine. No, you guys. You guys keep doing what you're doing. We're all learning from you. You guys are great.

And just thank you for being outspoken on this stuff and just being another voice that's, I think, going to help to promote all of the right things about investing in finance. So thank you. Thank you, guys. Appreciate it. Really appreciate it. Really appreciate it. All right.

This has been Joe McLean, DK Metcalf. Guys, make sure you hit the likes, you subscribe, you do all the things. We're going to hit you up. All right. And enjoy the gummy Jolly Ranchers. All right, fellas. Thank you so much for joining us.

And guys, we'll talk to you soon. Take us out, Duncan. Thanks, man. That was so much fun.