Lee Mears: My First Million

England rugby player Lee Mears, 30, might have expected another cap in today’s international against Argentina, had it not been for an injury sustained earlier this season. In the summer, the hooker was selected for the British Lions in the series opener against South Africa.

A former pupil at Colston’s School, Bristol – a rugby centre of excellence – Mears joined Bath full time at 17. He represented England throughout the age groups before achieving his first cap in 2005.

In 2007, Mears was selected in the England squad for the World Cup.

Mears lives near Bristol with his wife Danielle, a hospital physiotherapist, and their son Isaac, aged two. In August, he opened Jika Jika, a coffee house and canteen in Bath, with his former team mate Matt Stevens, who is now serving a drug ban.

Did you think you would get to where you are?

No, I always thought of it as a dream. Every time I got a step closer, it was like a dream coming true. When you get to represent your country, it takes a while to sink in, but then you set yourself new goals and you go around feeling very proud all the time.

Once you reach a goal, you are never happy. You want to reach the next one, and that is how my career has gone.

When you realised that you were worth £1m did you want to slow down?

I might have earned £1m so far in my career, but my testimonial year coincided with the credit crunch. My property portfolio would have been worth £1m in 2007, because that is my principal investment.

Of course, I did not want to slow down. I bought a two-bedroom townhouse in Barbados to celebrate my first cap in 2005. One day, it would be nice to buy somewhere bigger.

What is the secret of your success?

I just enjoy what I get involved in.

It is just down to hard work, a bit of luck, and the support of my parents. Mum and dad were brilliant. They took me everywhere and gave up their weekends to take me to the divisional trials in Wolverhampton. I also owe a lot to my wife. We have been married for five years.

What is your basic business philosophy?

I think you do need to speculate to accumulate. You must try things even if they don’t work out. In Bristol in 2003, I had a share in a company that was building five flats, but the project went wrong because of my lack of knowledge and because I was not hands-on enough. We are about to get our capital back, £50,000 each, but it has been a long
process.

I’ve now got flats in Chelsea, Cheltenham and Bath giving a better yield because I’ve learnt from experience.

Before you open a business, you have to listen to the public and find out what people want. We looked at restaurants, cafes and takeaways for several years.

Convinced that the premises on George Street, Bath, were right, we have spent £200,000 on refurbishment. We have got a 12-year lease and now employ four staff full-time and 10 part-time.

Do you want to carry on till you drop?

Yes, I think so. While my body lasts, it’s the one job I want to do. Some hookers retire early, roughly 34, but as we are not known for speed, we get a bit more out of our career. When I stop enjoying it I will think about retiring. I would like to stay on in rugby, possibly coaching.

Have you had time for personal financial planning?

I have got a financial consultant who advises me on projects and he has sorted out my mortgages. I’m learning fast because I enjoy working with figures. But as I have diverse investments, I let my accountant fill out my tax return.

What was your most prudent investment?

It was the one-bedroom flat in Bristol that I bought at 17. My father lent me £4,000 for the deposit. I bought the place from another rugby player, Kevin Maggs, who gave me a good price, £44,000. Within three years, I sold it for £110,000, which enabled us to move to our three-bedroom detached house.

Have you made any pension provision?

I was 17 when I started a pension, arranged through the Bath and the Professional Rugby Association (PRA). They explained all the options but, left to my own devices, I would have concentrated solely on property.

What is your commitment to charity?

I’m involved with the
Willow Foundation, set up to provide special days for seriously ill young adults, aged 16 to 40. I take part in its charity auctions, dinners and any other events.

Do you allow yourself the odd indulgence?

Yes, holidays – because I can remember pretty much every holiday I have ever had. We have just come back from Vale do Lobo in the Algarve.

 When I retire, I would like my place in Barbados to be my holiday home but I only get four weeks off a year now.

Have you taken steps to pass on your wealth?

Yes, I’ve made a will. I would say family first and, if they were comfortably off, they could pass something on to charity.

What is the most you have ever paid for a bottle of fine wine or champagne?

A group of us went to a restaurant in Neuilly, Paris, during the World Cup in 2007. The meal was sensational and the red wine fantastic, a Pomerol. I don’t remember the exact cost of the wine but when the bill came we paid in €150 each. Eight of us had shared a jeroboam.

What is your money-saving tip in the recession?

I tell my wife not to spend all our spare cash on clothes! We don’t cut back on provisions, because food for me is more of a fuel when I train hard and play. I buy the best we can afford.

When Isaac came along, we did make a lot of our own baby food, which must have saved some money.