Episode•February 16, 2023•20 min

The Winning Playbook: An Interview With Former Pro Football Player Jonathan Scott | Ep. 204

Former NFL player Jonathan Scott shares his story of financial empowerment. He talks about the importance of playing defense with your money and how to set yourself up for success both on and off the field. This episode is a must-listen for anyone looking to achieve financial empowerment. About Our Guest Jonathan Ray Scott is from Dallas, Texas. A ten-year veteran of the National Football League as an offensive tackle, Jonathan was also a member of the 2005 National Champion Texas Longhorns football team. Jonathan’s life off the field has been as successful as his time on the field with experience in real estate, finance, education, coaching, executive leadership, and the music industry. Connect with Jonathan Website - https://thewinningplaybook.com/ Instagram - https://www.instagram.com/jskizzle72 Twitter - @jskizzle72 Connect with Tiffany Facebook: Money Talk With Tiff Twitter: @moneytalkwitht Instagram: @moneytalkwitht LinkedIn: Tiffany Grant This podcast uses the following third-party services for analysis: Podcorn - https://podcorn.com/privacy OP3 - https://op3.dev/privacy

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Key Takeaways

1
Financial empowerment is about mindset and asking the right questions, not just tools
Empowerment focuses on the mind and knowing what questions to ask rather than just having financial tools
Jonathan fired his financial advisor after learning more than the advisor knew, emphasizing the need to be educated on your own finances
Key questions include understanding 12b-1 fees, the 49.5/50/70.5 rules, and required minimum distributions
2
Surround yourself with the right people to shape your financial mindset
Jonathan shares his father's wisdom: "If you're in the room with four idiots, you'll be the fifth. If you're in a room with four billionaires, you'll be the fifth."
The Four E's framework: Environment → Exposure → Experience → Expectation
Negative environments lead to negative expectations; changing your environment changes your financial trajectory
3
Start with self-assessment before making financial changes
Use the "hotel fire escape plan" analogy: identify where you are before planning where to go
Manifestation and positive self-talk are practical first steps
Affirmations and mindset shifts reduce the impact of negative events compared to "negative autopilot"
4
Don't compare your financial situation to others
NFL players have vastly different paychecks (six figures vs. eight figures)
Comparison is "a thief of joy" and prevents happiness with what you actually have
This applies beyond sports to everyday jobs and tax brackets

Intro

Former NFL offensive tackle Jonathan Scott joins Tiffany to discuss financial empowerment, sharing lessons from his ten-year professional football career and post-athletic success in real estate, finance, and executive leadership.
Jonathan Ray Scott is a Dallas native, ten-year NFL veteran offensive tackle, and member of the 2005 National Champion Texas Longhorns. He co-authored "The Winning Playbook" and has experience across real estate, finance, education, coaching, and the music industry.

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– Defining Financial Empowerment

Jonathan distinguishes financial empowerment from financial literacy, explaining that empowerment is about mindset, asking the right questions, and problem-solving rather than just having tools.

Empowerment is more so speaking about the mind, the mindset... figuring out what questions you should be asking, being able to solve different types of problems.
– Jonathan Scott

– Questions You Should Be Asking About Your Money

Jonathan emphasizes the importance of understanding your 401k, mutual funds, 12b-1 fees, the 49.5/50/70.5 rules, and required minimum distributions rather than passively delegating to advisors.

I fired my financial advisor because it's one or two things: my financial advisor didn't know the information that I knew or two, he didn't teach me what I needed to know.
– Jonathan Scott

– The Four E's Framework for Mindset Change

Jonathan introduces his Four E's framework connecting environment, exposure, experience, and expectation, explaining how negative environments cascade into negative expectations.

If you're in the room with four idiots, guess what? You'll be the fifth. And he says, son, if you're in a room with four billionaires, guess what? You'll be the fifth.
– Jonathan Scott

– NFL Experience: Different Paychecks and Avoiding Comparison

Jonathan discusses how NFL players have vastly different salaries and the danger of comparing yourself to others with different financial situations.

There can be a stark difference. You know, we're talking one making six figures and another making eight figures. That's a big difference. 100,000 versus 15 million.
– Jonathan Scott

– Practical Steps: Start With Self-Assessment

Jonathan recommends using the "hotel fire escape plan" analogy to assess where you are before setting financial goals, and emphasizes manifestation and positive self-talk as practical first steps.

Think of your personal journey as you're in a hotel and you're in your room. You close the door and on the back it has the fire escape plan... It has a little red dot and it says you are here right now.
– Jonathan Scott

Books Mentioned

The Winning Playbook by Jonathan Scott

Resources

Invested Masterclass with Ange Matthews

Topics

Financial EmpowermentMindsetNFL CareerFinancial LiteracySelf-AssessmentManifestationComparisonFour E's FrameworkFinancial AdvisorsPersonal Development