Lott was born in Albuquerque, New Mexico. He now lives in Cupertino, California, with his wife, Karen, and his children, Hailey, Isaiah, and Chloe. He now manages $2.4 billion in investments and owns both Toyota and Mercedes-Benz car dealerships. He opened World Sports Cafe in Fresno, California. Lott is the father of former Tampa Bay Buccaneers linebacker Ryan Nece.