Odell Beckham Jr. Says $20M a Year Isn't Enough: Is He Out of Touch or Just Being Real?
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For most Americans, a six-figure salary is the gold standard of financial security. So when NFL star Odell Beckham Jr. suggested on The Pivot Podcast that living on $20 million a year is a struggle, the internet had plenty to say.
“That’s a five-year span,” the 33-year-old wide receiver said. “Can you make that last forever?”
Beckham, who signed a five-year, $100 million contract, argued that after taxes, the take-home is closer to $12 million a year — money he says has to cover spending, saving, investing, and, yes, flaunting. “Just being real, I'm going to buy a car, I'm going to give my mom a house. Everything costs money.”
The backlash was swift. Fans and fellow NFL players alike questioned whether Beckham had lost touch with reality. One X user wrote: “Getting paid more in one year than most Americans will earn in total over the course of their working lives and still making excuses for blowing it is wild.”
Former NFL safety Su'a Kristopher Cravens, who earned a $4 million rookie contract, chimed in. “These guys that touch over 10 million and blow through it sounds like pure user error on their end,” he posted. Cravens noted that six years after leaving the league, he can still “live the lifestyle I desire, while also saving money and putting my kids in the position to win later in life.”
So is Beckham being honest about the financial pressures of wealth, or is this just another case of lifestyle inflation? The answer may be more complicated than it seems.
Read More: Robert Kiyosaki warned of a 'Greater Depression' — with millions of Americans going poor. Was he right?
Critics were quick to point out Beckham's spending habits. He's been spotted wearing a limited-edition Richard Mille watch worth nearly $190,000 during games, and his car collection is estimated at $2.4 million. Another user recalled his two-year ban from Louisiana State University for handing out cash to student athletes.
“It's not about the tax rate — it's about the lifestyle,” said Marcus Delgado, a 34-year-old financial planner from Austin, Texas. “I see clients making $500K a year who still feel broke because they upgrade everything the moment they get a raise. Beckham is just a more extreme version of that.”
But not everyone is sympathetic. “Oh please, cry me a river,” said Jenna Kowalski, a 29-year-old teacher from Cleveland. “I make $48,000 a year and I'm raising two kids. If I had $12 million after taxes, I'd retire tomorrow. This is just rich people problems dressed up as real talk.”
Beckham’s comments highlight a broader phenomenon known as lifestyle inflation — the tendency for spending to rise as income increases. According to a Bankrate survey, nearly half of Americans said they'd need $100,000 a year to live comfortably, but a quarter set the bar at $150,000. Yet in 2024, roughly one in five Americans earning over $150,000 reported living paycheck-to-paycheck, per the Bank of America Institute.
“The numbers change, the psychology doesn’t,” said financial educator Rachel Nguyen. “Whether you make $80,000 or $20 million, if you don’t control your spending, you’ll always feel stretched.”
So what’s the fix? Experts recommend automating savings, delaying major upgrades, and using budgeting tools. A high-yield account like Wealthfront’s Cash Account currently offers a base APY of 3.30% through program banks, with new clients getting an extra 0.75% boost for the first three months on up to $150,000 — bringing the total variable APY to 4.05%. That’s ten times the national deposit savings rate, according to the FDIC.
Wealthfront is also offering new clients who enable direct deposit ($1,000/mo minimum) to their Cash Account and open and fund a new investment account an additional 0.25% APY increase with no expiration date or balance limit, meaning your APY could be as high as 4.30%.
With no minimum balances or account fees, as well as 24/7 withdrawals and free domestic wire transfers, your funds remain accessible at all times. Plus, you get access to up to $8M FDIC Insurance eligibility through program banks.
Apps like Acorns can also help by rounding up purchases and investing the spare change. A 2022 study by the Consumer Financial Protection Bureau found that such automated savings rules significantly boosted the chances of hitting financial goals.
Another strategy: delay major lifestyle upgrades. If you suddenly can afford a bigger home or a new car, waiting six months to a year can create a period of accelerated savings that compounds over time. For car insurance, OfficialCarInsurance helps you compare policies from providers like Progressive, GEICO, and Allstate, with rates as low as $29 per month.
“The battle against lifestyle inflation is the same no matter your income,” said Nguyen. “It’s about discipline, not dollars.”
For those who struggle with tracking spending, apps like Rocket Money can categorize expenses, uncover forgotten subscriptions, and even negotiate lower bills — helping you save potentially hundreds of dollars annually.
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The Pivot (1); X (2, 3, 4, 5); ClutchPoints (6); CBS Sports (7); Bankrate (8); Bank of America Institute (9); Consumer Financial Protection Bureau (10)
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