Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.
Sometimes it’s better to be lucky than good, but there’s nothing like luck and being great. Former NFL tight end Rob Gronkowski, who won multiple Super Bowls during his illustrious career, certainly qualifies as great. However, he also had incredible luck with his first stock trade, which gave him almost 1,000% profit on Apple stock he bought on the recommendation of his contractor.
Don’t miss:
Rob Gronkowski rose to fame as a prominent member of the New England Patriots dynasty led by Head Coach Bill Belichick and Quarterback Tom Brady. Unlike Belichick and Brady, known for their businesslike, corporate personalities, Gronkowski was known for his lively, fun-loving nature. So it may come as a surprise to hear that Rob Gronkowski is financially smart, but by all accounts, he has managed his finances very well.
In his 2018 book It’s Good to Be Gronk, Rob revealed that he never spent any of the estimated $70 million he earned playing in the NFL and that he avoided buying expensive items like cars and jewelry. Gronkowski parlayed his fun-loving personality into a successful career as a pitchman for some of America’s most recognized brands, such as T-Mobile and Dunkin Donuts. He lived off the money from his marketing deals, not his NFL salary.
Related: Warren Buffett once said, “If you don’t find a way to make money while you sleep, you’ll work until you die.” These high-yield real estate bonds paying 7.5% – 9% make earning passive income easier than ever.
Ironically, Gronkowski’s first attempt at stock trading happened completely by accident. In an interview with Fortune Magazine, Gronk talked about how he made his first stock trade. “My first stock ever was Apple stock,” Gronkowski said. “The guy who actually built my house in Foxborough said to me, ‘Hey, buy Apple stock.’” At the time, Gronkowski wasn’t familiar with stock trading, but he was intrigued.
“You know, I’ve never dealt with stocks and really didn’t know how stocks worked,” he continued. Ultimately, Gronkowski decided to pull the trigger and bought $69,000 worth of Apple stock. It was a pretty big investment for a first-time stock buyer, but Gronkowski told Fortune, “I’m going to go big, yes of course, this just goes along the lines of me being me.”
Trending: the Ascent income fund from EquityMultiple targets stable income from senior commercial real estate debt positions and has a historic distribution yield of 12.1%, backed by real assets. Earn a 1% return boost on your first EquityMultiple investment when you sign up here (accredited investors only).
Gronkowski bought the stock in 2014 after calling his financial advisor and telling him to close the deal. He may not have intended to buy and hold the stock, but that’s exactly what happened. Maybe Gronkowski was so busy having fun that he forgot about his investment. “So then all of a sudden I forgot about it,” Gronkowski said.
“Then it’s two and a half years later and the stock is worth $250,000,” Gronkowski continued. He concluded the story of his investing adventure by telling Fortune, “So I’m selling the portion of the $69,000 I bought it with and I now, to date, have over $600,000 in Apple Stock, all because of the investment. ” I had no idea what I was doing in 2014, I just listened to the man who built my house.”
It’s an incredible story, and fortunately for Gronkowski, his contractor gave him a good tip. Nevertheless, you may want to be more careful about where you get your investment advice. Unlike Rob Gronkowski, you probably don’t have a $70 million cushion to fall back on. However, Gronkowski’s successful foray into stock trading illustrates how lucrative the right investment can be.
EquityMultiple’s ‘Alpine Note – Basecamp Series’ attracts attention and opens wallets. This short-term note investment offers investors a 9% yield (APY) with a term of just 3 months and a minimum of $5,000. The Basecamp rate shows a significant spread compared to government bonds. These healthy returns will not last long. With the Fed poised to cut interest rates in the near future, now could be the time to earn favorable returns with a flexible, relatively liquid investment option.
Additionally, Alpine Note – Basecamp can be merged with another Alpine Note to boost returns, or into another carefully vetted real estate investment from EquityMultiple, which also involves a minimum investment of just $5,000. Basecamp is exclusively open to new investors on the EquityMultiple platform.
Looking for fractional real estate investment opportunities? The Benzinga Real Estate Screener has the latest offering.
This article How NFL Legend Rob Gronkowski Made a Nearly 1,000% Gain on His Very First Stock Investment — After Forgetting He Owned the Stock originally appeared on Benzinga.com
