Viv Anderson Reflects on Financial Decisions, Including a BMW Purchase at 22
The former footballer shares insights on his financial journey, highlighting early homeownership and the costly impact of his first luxury car.
Viv Anderson, the celebrated footballer known for his two European Cup wins with Nottingham Forest and his pioneering role as the first black man to represent England, has shared reflections on his financial decisions throughout his life. Now 68, Anderson, who also played for Arsenal, Manchester United, and Sheffield Wednesday, discussed his financial habits and significant purchases in a recent interview.
Anderson recounted that his parents instilled in him a cautious approach to money, a lesson that stayed with him even as his football career brought financial rewards. Early in his career, he experienced periods of financial uncertainty, including a stint working as a silk screen printer after being released by Manchester United as a schoolboy. However, his path changed when Nottingham Forest signed him as an apprentice at 16, earning £7 a week. Upon turning professional at 18, his salary increased to £80 a week, a substantial sum for a young player.
He noted that his time at Manchester United in 1987, when he was one of the highest-paid players at the club, represented the peak of his career financially. During this period, he made a significant purchase: a 6 Series BMW at the age of 22. While initially a source of enjoyment, Anderson now identifies this purchase as his biggest financial mistake. The high cost of insurance for the luxury vehicle, he explained, was a considerable shock and a significant drain on his wages, outweighing the cost of petrol.
In contrast, Anderson identified buying a house at 21 as his best financial decision. He remains a homeowner and continues to benefit from securing property early in his life. He currently lives in Timperley, Greater Manchester, an area he has called home for decades, which has allowed him to maintain stability despite various coaching and managerial roles across the country.
Looking ahead, Anderson expressed his intention to provide for his three children, Charlie, Ruby, and Freddie, and his new grandchild. He plans to pass down memorabilia, such as his first England shirt, and offer financial assistance to his children. He also highlighted the importance of pensions, revealing he receives both a state pension and has maintained private pension contributions throughout his career.
If given the opportunity to serve as Chancellor, Anderson stated he would advocate for a significant increase in state pension contributions, perhaps by 5-10%. He believes younger generations often underestimate the long-term necessity of pensions and that many are unprepared for later life without adequate savings or pension provisions.
Anderson is also active as a diversity and inclusion keynote speaker and founded PlayOnPro, a networking platform for sports professionals and fans. The former England international also shared his predictions for the World Cup, favoring France and Spain, with England as a strong contender.
