Owens recently sat down with NerdWallet to discuss his financial struggle in detail to help current players avoid making the same mistakes. Despite the fact that NFL players make an average of $1.9 million a year, 15 percent declare bankruptcy, while Sports Illustrated estimates that 78 percent end up coming close and/or experience significant financial stress. Owens' insights boil down to a few key points, and they're valuable for anyone looking to become more financially secure, not just pro athletes. First off, don't overdo it. "My advice to any fan or athlete out there: Just don't live beyond your means," says Owens. "At that time I got sucked into wanting to be like everybody else, the guys with the Mercedes and all the flashy cars and the jewelry. I think those are some of the most idiotic purchases I think players can do, especially when they don't have that money in the bank account to really pay for that stuff."