Home » Shaq Gives Simple Financial Advice To NBA Players financial advice

Shaq Gives Simple Financial Advice To NBA Players financial advice

by admin

[


With career earnings that totaled $292 million, Shaquille O’Neal currently ranks as the third-highest-paid player in NBA history. We asked Shaq what financial advice he gives young NBA players who want to hang on to their fortunes.

Shaq stopped by Business Insider to talk about his collaboration with home security technology company Ring, to raise awareness about how homeowners can better protect their property this holiday season.

Business Insider tells you all you need to know about business, finance, tech, science, retail, and more.
Subscribe to our channel and visit us at:
BI on Facebook:
BI on Instagram:
BI on Twitter:

————————————————–

Following is a transcript of the video:

I would simplify it for them. I would do what one of my friends did to me. I would take a $100 bill and rip it in half. And I’d say “$50, don’t even look at it. Don’t look at it.”

See also  What Does It Take To Become a Financial Advisor | Common Sense Investing with Ben Felix financial advisor

Now, this other $50 you can play with. Do whatever you want. But if you’re smart, you’ll rip this $50 up and you save that. And now this $25, do whatever you want. You want a house, 10,000 square feet? Do it. You want cars? Do it, but keep it right here.

If my son makes it to the NBA, that’s exactly what I’m gonna tell him. The NBA does a great job of, you know, preparing people and warning people, but you know, sometimes you just get so much money and you forget – like if you’ve got a five-year deal worth $100 million, you’re making $20 million, you spend like, $20 million in the first year, you’ll be like “You know what? I’ve got another $20 million coming.”

See also  The #1 Career Tip Chelsea Learned In Her Career financial diet

That’s how guys are thinking. I always tell them “Don’t think about what’s going on now. Think about what has to happen in the future.”

I never spent, like, an NBA check like my first four years. Then, when I got married and had kids, all that changes, but that’s, to simplify it for them because, you know, a lot of people don’t have the business mind or the business tact, so you have to break it down in their language.

So, I would say save 75%, and this 25%, do whatever you want to do with it. Take care of your family — boom, bam. House, apartment, car – but don’t ever do more than this.

————————————————–

Follow BI Video on Twitter:
Follow BI on Facebook:
Read more:

————————————————–

Business Insider is the fastest growing business news site in the US. Our mission: to tell you all you need to know about the big world around you. The BI Video team focuses on technology, strategy and science with an emphasis on unique storytelling and data that appeals to the next generation of leaders – the digital generation. .

Images related to the topic financial advice

Shaq Gives Simple Financial Advice To NBA Players

Shaq Gives Simple Financial Advice To NBA Players

Search related to the topic Shaq Gives Simple Financial Advice To NBA Players

#Shaq #Simple #Financial #Advice #NBA #Players
Shaq Gives Simple Financial Advice To NBA Players
financial advice
See all the latest ways to make money online: See more here
See all the latest ways to make money online: See more here

Related Videos

42 comments

Dre Sports 28/09/2021 - 5:15 PM

Shaq was the smartest man on the court.,Don’t underestimate his goofy character. He is wise and funny. I would hang out with him if we played on the same team,

Reply
josez1 28/09/2021 - 5:15 PM

Also – don’t have 7 kids with 7 mothers. Each one will drain you for the next 18 yrs for child support.

Reply
power youtuber 28/09/2021 - 5:15 PM

Shaq is right about that "i got another $?????- coming" thought.

That is the most financially destructive thought in every finance bracket!
😱

Reply
Maurice Mallari 28/09/2021 - 5:15 PM

Best advise is:

Wear a condom!

Them child support cheques are expensive bruh

Reply
Bare Bear 28/09/2021 - 5:15 PM

Save 75%? 25% for what? Needs like rent, bills, groceries, etc. and wants? Or this is NBA level 25%?

Reply
Kevin Cummings 28/09/2021 - 5:15 PM

I need financial advice. How can I save $2?

Reply
goutham Sai 28/09/2021 - 5:15 PM

Comes from a guy who spent 1million dollars in a day!!!

Reply
Marcus Smith 28/09/2021 - 5:15 PM

This is money management for everyone. The question we must ask ourselves is “How can I save more of the money that I bring in. Cancel cable and save that money/ Budget dating/ document your spending and you will see what your wasting money on. Plan/Execute/ and Evaluate your habits. We are responsible for our futures not our parents we are. A stack last month going out to eat. Want happen again.

Reply
HenryMcComments ! 28/09/2021 - 5:15 PM

This man talking about 25% spending
I’m taking .25 cent
I’m poor

Reply
Dumisa Tony Johnson 28/09/2021 - 5:15 PM

Shaquille O’Neal

No wonder he still had 💵

Reply
Kevin Sheng 28/09/2021 - 5:15 PM

True that

Reply
knpstrr 28/09/2021 - 5:15 PM

Sound advice.

Reply
Will Moffett 28/09/2021 - 5:15 PM

Get drafted in the number one position in the NBA draft. Be unstoppable at both the offensive and defensive end of the court. Play with a teammate known as the Black Mamba. Profit.

Reply
Cypher 28/09/2021 - 5:15 PM

C'mon it's advice to NBA PLAYERS not for us normal folks

Reply
someguy604 28/09/2021 - 5:15 PM

This should be obvious to everyone. Even I knew this a long time ago, but I guess some people just live in the moment.

Reply
Mr SS 28/09/2021 - 5:15 PM

Where did that $1milliom he spent in 1day come from if he said he didn't spend no nba money til he got married

Reply
Eric McDowell 28/09/2021 - 5:15 PM

A good hunk of that goes to Fed and State taxes as well/

Reply
DON 28/09/2021 - 5:15 PM

That’s why Shaq is Shaq! He made a ton of $$$ but he was never satisfied and wanted more unlike his contemporaries who spent and spent their way into bankruptcy.

Reply
Who Is this that? 28/09/2021 - 5:15 PM

Auto-play: How Shaq spent $ 1 million in one day…

Reply
O EAO 28/09/2021 - 5:15 PM

If I was a millionaires I’d still be as cheap as I am now

Reply
Dupree Johnson 28/09/2021 - 5:15 PM

a smart giant

Reply
Randy Hendrix 28/09/2021 - 5:15 PM

'Ahej heaheoh shoesuueh beahoe" Shaq

Reply
Anfmethodjor 28/09/2021 - 5:15 PM

Saving 75%? Isn't that too much? Only 25% for everything else, including business ventures, and high risk high reward investments??

Reply
Dre Day 28/09/2021 - 5:15 PM

The day I come across big money this is what I'd do. First come up with how many years I expect to live. Divide that money by how many years I expect to live. That would be my yearly budget.

Reply
B H 28/09/2021 - 5:15 PM

I would take care of everyone that is important in the first year with 25%, then live off of 10 -20% after that!

Reply
0bserver 28/09/2021 - 5:15 PM

my 25% is 50$ a month

Reply
Sensibly Honest 28/09/2021 - 5:15 PM

The percentages may change but the concept is the same whether you make $30,000 or $30,000,000. Invest in your future every payday.

Reply
Anthony Gjolaj 28/09/2021 - 5:15 PM

Bad advice, saving money where? In bank account? They will just withdraw that money if they need it

Reply
Wilmer 28/09/2021 - 5:15 PM

I don’t under what he meant by ripping money

Reply
PNG 305 28/09/2021 - 5:15 PM

easy to say but ur 25% is nowhere near my 25%

Reply
Saad Emran 28/09/2021 - 5:15 PM

Expected funny sh*t, found seriously good advice. lol.

Reply
Lois J 28/09/2021 - 5:15 PM

I’m too broke to be watching this video

Reply
TECHNOLOGY WE KNOW 28/09/2021 - 5:15 PM

Why is he wearing a ring jacket

Reply
CodeX 28/09/2021 - 5:15 PM

Blow it all on hookers and cocaine

Reply
MemesForACause 28/09/2021 - 5:15 PM

0.25×0 = 0 Thats the amount of which i will do whatever I want

Reply
SuperQbik 28/09/2021 - 5:15 PM

fucking youtube rewind shit makes me mad

Reply
Ain't no Slice 28/09/2021 - 5:15 PM

is shaq dying? He certainly looks like it.

Reply
PrincepsComitatus 28/09/2021 - 5:15 PM

Thats good advice.

Reply
Михаил 28/09/2021 - 5:15 PM

Big Shaq

Reply
jumpstart55million 28/09/2021 - 5:15 PM

Damn Shaq is a sharp dude. That is really great advice.

Reply
FMFvideos 28/09/2021 - 5:15 PM

Can i use bitcoins to buy refs?

Reply
Matthew McKenzie 28/09/2021 - 5:15 PM

Rip it in half? Yeah thats all well and good if you have paper notes. Try ripping one of the plastic notes in NZ in half,easier said than done

Reply

Leave a Comment