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For most Americans, a six-figure salary equates to financial security. So it’s easy to assume that NFL star Odell Beckham Jr. has shored up his security with a five-year, eight-figure, $100 million contract.
But in a recent episode of The pivotal podcastthe 33-year-old suggested that living on $20 million a year is a challenge.
“That’s a five-year period,” he said. “Can you make this last forever?”
After all, Beckham argued, we must remember that it’s not really $20 million a year after taxes, but rather $12 million (1) “to spend, use, save, invest, display, whatever.”
“To be realistic, I’m going to buy a car, I’m going to give my mother a house. Everything costs money.”
Judging by the backlash, his fans and even some multimillionaire NFL peers believe Beckham may have lost touch with reality.
“Being paid more in one year than most Americans will earn in total over their working lives and continuing to find excuses to screw it up is crazy,” one user posted on X (2).
Former NFL safety Su’a Kristopher Cravens, originally drafted to the NFL for $4 million, wondered how someone with a $100 million contract could find himself strapped for cash.
Cravens noted that six years after leaving the NFL, he can “live the lifestyle I desire, while saving money and putting my children in a position to win later in life” (3).
“These guys hitting 10M+ and blowing up on it looks like pure user error on their part,” he posted.
So is Beckham “real”? It turns out that the design 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 point out some of the reasons they think Beckham might be struggling to manage his multi-million dollar paychecks.
Many have pointed out that the star wide receiver often wears a limited edition Richard Mille watch worth nearly $190,000 when he plays (4)(5).
They also shared media reports about his car collection, worth an estimated $2.4 million (6).
Another user pointed out his two-year ban from Louisiana State University for handing out wads of cash to student athletes (7).
Simply put, Beckham’s financial woes may have less to do with progressive taxes and more to do with untamed lifestyle inflation.
It’s a problem that many high-income earners face long before they enter the seven-figure club.
Nearly half of Americans surveyed 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 make $150,000 don’t necessarily feel comfortable.
In fact, by 2024, about one in five Americans earning more than $150,000 a year reported living paycheck to paycheck, according to the Bank of America Institute (9).
This is called lifestyle inflation. In other words, you can’t beat bad spending habits.
Streamlining your budget could give you a sense of financial security and freedom, regardless of how much you make.
Living within your means is a challenge, especially when your income is growing quickly. 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 your nest egg, a high-yield savings account is another possible place to start. While the national average interest rate is a 0.40% APY, online banks can offer you much more competitive yields – 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 takes 10% or 15% of your monthly income for savings and investments. If your money is too tight for an automated transfer, consider an app like Acorns that can get the most out of your spare change.
Even small amounts can grow over time with Acorns, an automated investment 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 spare change – in a diversified portfolio.
With Acorns, you can invest in a dividend ETF for as little as $5 – and, if you sign up today, Acorns will add a $20 bonus to help you start 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 combat 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 your car, delaying that decision for six months to a year, for example, could give you an accelerated period of 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 sort through the best policies from car 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 yourself hundreds of dollars per year.
To get started, fill out your information and OfficialCarInsurance will provide you with a list of the best insurers in your area.
Whether you make $80,000 a year or $20 million, the fight against lifestyle inflation is the same.
The numbers change, the psychology does not. This is why tracking your spending is so important. Traditional budgeting can sometimes seem tedious, but apps like Rocket Money can simplify the process.
Rocket Money tracks and categorizes your spending, providing a clear view of your cash flow, credit, and investments in one place. It can even uncover forgotten subscriptions, helping you cut unnecessary costs and potentially save hundreds of dollars per 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); Discount rate (8); Bank of America Institute (9); Consumer Financial Protection Bureau (10)
This article provides information only and should not be considered advice. It is provided without warranty of any kind.
