Jalen Hurts lives in a $2K/month rental despite $255M contract — what you can learn from the Super Bowl MVP

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Although he hit the jackpot with a massive $255 million contract in 2023, Philadelphia Eagles quarterback Jalen Hurts still lives like a humble college student. He rents an apartment in Cherry Hill, New Jersey, for just $2,000 a month, according to a report from The Sun.

“I didn’t buy a house or anything like that when I got drafted because it was just me,” the superstar told GQ in a 2021 interview. “I didn’t need this big place just for myself. I just got myself a little apartment. You know, something smooth that’ll last me for the time being.”

Hurts’ intentional choice to rent a bachelor pad rather than splurge on a luxury penthouse or sprawling mansion is a standout example of financial discipline and living within one’s means.

Here’s how a similar approach could help you chart a path to financial freedom.

Given that each NFL season lasts for just 18 weeks, athletes like Hurts don’t necessarily need to purchase property near their workplace. His deliberate decision to rent is an example of needs-based budgeting.

According to the University of Pennsylvania, this budgeting technique focuses on securing essential spending needs first before moving onto saving, investing and indulging in luxuries.

Financial experts usually recommend spending no more than 30% of your gross income on housing and no more than 15% for car payments. Applying these limits while making purchase decisions could help you live within your means.

Budgeting and tracking can help you understand where your money is going, so you can make every dollar work for you.

However, budgeting can be challenging, especially when trying to track multiple accounts and daily expenses simultaneously. Monarch Money’s expense tracking system simplifies the process.

The platform seamlessly connects all your accounts in one place, giving you a clear view of where you’re overspending. It also helps you monitor your expenses and payments in real-time.

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With your needs secured, you can turn your attention to saving and investing to ahieve financial freedom as rapidly as possible.

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Read more: 30% of US drivers switched car insurance in the last five years. Here’s how much they saved — and how you can cut your own bills ASAP

Although Hurts rents during the football season, he’s an active real estate investor off-season.

He purchased a $215,000 home in his hometown of Humble, Texas, for his father before purchasing another property for his mother in Houston, according to the NY Post. The MVP also owns a $6 million 6,000-square-foot residence in Texas along with the unit next door which cost another $2.68 million.

While he’s still at the top of his game, this extensive real estate portfolio could serve as a long-term financial safety net for the superstar athlete should he ever need it. Investing in real estate also offers diversification benefits, allowing investors to somewhat hedge their portfolios against market downturns.

New investing platforms are making it easier than ever to tap into the real estate market.

For accredited investors, Homeshares gives access to the $36 trillion U.S. home equity market, which has historically been the exclusive playground of institutional investors.

With a minimum investment of $25,000, investors can gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning or managing property.

With risk-adjusted internal returns ranging from 14% to 17%, this approach provides an effective, hands-off way to invest in owner-occupied residential properties across regional markets.

Setting aside a portion of your income for investing in stocks and bonds can help you secure your financial future. In fact, stock market investments have historically proved to be more lucrative than real estate — the S&P 500 index has returned roughly 10% per year on average, outperforming the residential real estate sector’s 4%-8% gains.

Legendary investor Warren Buffett is also a fan of low-cost index funds, saying they make “the most sense practically all of the time.”

One way you can build an investment base is with the Wealthfront Cash Account, which can help you through a combination of high-interest rates and ease of access.

A Wealthfront Cash Account can provide a base variable APY of 3.75%, but Moneywise readers can get an exclusive 0.50% boost over their first three months for a total APY of 4.25% provided by program banks on your uninvested cash. That’s over ten times the national deposit savings rate, according to the FDIC’s September report.

With no minimum balances or account fees, as well as 24/7 withdrawals and free domestic wire transfers, you can ensure your funds remain accessible at all times. Plus, the Wealthfront Cash Account has balances of up to $16 million insured by the FDIC through program banks.

If you’re looking for other ways to diversify your portfolio, you might consider investing directly in precious metals.

One way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of Thor Metals.

Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, thereby combining the tax advantages of an IRA with the protective benefits of investing in gold, making it an attractive option for those looking to potentially hedge their retirement funds against economic uncertainties.

To learn more, you can get a free information guide that includes details on how to get up to $20,000 in free metals on qualifying purchases.

Whether you’re just embarking on your investment journey or have already built a sizable portfolio, speaking to a financial advisor can help you understand if you’re on the right track.

Especially now – with the markets reacting to President Trump’s tariffs – you might want to connect with an expert for advice on how to hedge your portfolio.

Finding a financial advisor that suits your specific needs and financial goals is simple with Advisor.com.

Advisor.com connects you with participating unaffiliated third-party registered investment advisors (RIAs) through its matching tool or provides personalized investment advice via its in-house wealth management service, Advisor Wealth Management.

From their database of thousands, you can find a pre-screened financial advisor you can trust. You can then set up a free, no obligation consultation to see if they’re the right fit for you.

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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.