Tennessee Titans linebacker Derrick Morgan announced his retirement at 15th July, at 30 it seems like a sensible choice and he said, to Forbes, of the decision “I’m at a time where, physically and mentally, it doesn’t make a lot of sense to continue,”
But that does not mean he is kicking back, h is straight into a new venture…
“I feel at peace with the decision. I feel free in a sense to be able to wake up and put my mind and my energy towards things that are more purposeful to me at this time in my life.”
The purpose seems to be helping the needy as a real estate investor with an Opportunity Zone fund to invest in marginalized communities.
The 2017 tax law enabled investors to roll capital gains into projects or companies in low-income areas in each state called Opportunity Zones. Gains compound tax-free with no limits on how much money you can put in and how much tax you can avoid. There are 8,700 designated OZ areas, which are required to have a poverty rate of at least 20% or a median household income that is less than 80% of that of the surrounding area.
Morgan is taking his OZ investing a step further to ensure it has both a financial profit and positive social impact, or a double bottom line, as it’s known. “When I first heard about Opportunity Zones, I thought this is just a tax credit for gentrification,” says Morgan.
Morgan is using an OZ Score for his investments that was developed by Activated Capital, which considers social returns for all of its investments. The score uses multiple metrics to measure investments on economic inclusion, community development and quality education.
Read in more detail on Forbes here.