Former FSU Football DT Braden Fiske Details Experiences With NIL In College Football
It is safe to say that the new era of Name Image and Likeness (NIL) has changed the college football landscape forever by giving student-athletes the ability to generate wealth and build a brand while in college. There are different opinions on both sides of the coin on whether or not it is beneficial to the sport, however, former FSU standout Braden Fiske seems to have set himself on the right path to financial stability, and even financial success, far before he's signed his first NFL contract.
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The 6'4'' 292-pound transfer from Michigan City, IN discussed his plan for the money he's earning using his likeness and the future of NIL together in a recent interview with Forbes.com's DJ Siddiqi.
“One of the first things I ever did was open up a Roth IRA,” Fiske said to Siddiqi. “I really didn't know what it meant, but it sounded like a good idea. And this is when I was young, I was probably 20 years old. That was kind of the beginning."
The report further states that Fiske had moments in his career before NIL where he barely had $20 dollars to his name, a sentiment most college attendees can relate with.
“You're not really taught how to use money when you're going to school and I realized when I got to college, there were points in my college career, I had like $20 to my name. This is just criminal. Once I realized, maybe we should start being smarter with this, it's fun," Fiske said.
There is a great benefit to teaching student-athletes at all levels the money management and tax management side of having an extra income while in college. In some cases, many athletes come from impoverished households and have never seen the type of cash flow being reported by some companies on the value of sought-after athletes.
“Early on in my career, I had no idea because NIL wasn't a thing. You hear the stories of guys getting paid in these big schools, but you never really know what's going on. I hadn't touched any type of money like that until I got to FSU. I think NIL is a great opportunity," Fiske continued. "Do I think there needs to be more control over it? Sure. I think it's a little bit of the Wild West right now for how it's managed. How much is being thrown around and how people are able to persuade kids just based off of dollar amounts. Kids don't really see the true insight of what these people are trying to do with them."
The NFL Combine star admitted that his signing with the Seminoles helped him live "comfortably" and invest for his family. While maintaining his belief that rules in this "Wild West" of paying college players are imminent, he maintained that it is a good life lesson for student-athletes.
"I was able to invest some money, help my family out with whatever means. And I think it's a great opportunity for you to learn how to manage money, but it's also a good lesson for kids. This money doesn't last forever. It becomes a good life lesson."
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