When Shaq got his first million dollar check at age 20, he spent it ALL in one day. He quickly learned that his life would be ruined if he kept spending like this, so he educated himself on investing and vowed to save more than he spends.

Ever since, Shaq has been a disciplined investor. He likes to tell new NBA players to take a $100 bill and rip it in half. Don’t even look at the first half and spend the other half on whatever you want. But he also tells them, if they are smart, they would rip the $50 in half again and only spend THAT half. Simply put, live on 25% of your salary and invest the rest.

Sports Illustrated estimated that 60% of retired NBA players go broke. Isn’t it wild that your chances of going broke go UP if you make it to the NBA and get paid millions of dollars?!

It’s easy to believe making more money is the solution to building wealth. But it clearly takes more than just that. Without being intentional with your money and focusing on consistently investing, you‘ll be broke no matter how much money you make. Yes, focus on increasing your income. But don’t wait to invest once your income is high. The time to start is now, with whatever dollar amount you can do.

We recognize Shaq earned many millions of dollars from his time in the NBA, while a lot of people are struggling to make ends meet. This post isn’t meant to make light of that. We want to highlight Shaq for his disciplined relationship with money and let it serve as motivation to all of us, no matter what our personal finances look like.

‎-Vivi & Shane

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By: Gabriela Gonzalez
Title: Shaq’s money advice will help your investments grow
Sourced From: www.personalfinanceclub.com/shaqs-money-advice-will-help-your-investments-grow/
Published Date: Tue, 08 Apr 2025 18:45:55 +0000

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