When Shaquille O’Neal Delivered an Important Financial Lesson to the Youth Using a Simple Piece of Paper

Shaquille ONeal has continued to be a prominent figure since retiring from the NBA thanks, in part, to a wide range of endorsement deals.

The Hall of Fame center learned from his early financial mistakes and once used his experiences to pass on knowledge to todays NBA youngsters.In 2018, ONeal took a unique route to get his message across.

He tore a piece of paper in half to explain to the new generation of stars how much of their fortune they should be saving and how much they should be spending.In essence, Shaq encouraged the professional athletes of today to save and invest the majority of their income but to enjoy spending a lot of their money too.

Considering a good number of NBA players are bringing in eight figures a year, its important that theyre financially responsible.Now the smart people, the real smart people, the billionaires of the world, theyll take half of that $50, put all that away, Shaq continued in his demonstration, ripping the paper in half once more.

This right here, have fun, he continued, holding up a quarter of the original piece of paper.Shaq encouraged athletes to use that last portion of the money to their hearts content but warned them not to touch the funds theyve put away.

You wanna buy houses, you wanna buy cars, you wanna buy planes, you wanna travel, this right heres what you have fun with, ONeal said with the last scrap of paper in his hand.Shaq admitted to making mistakes when he was young and sincerely wanted to keep athletes today from falling into the same traps.Shaqs investment strategy isnt always perfectShaquille ONeal has partnered with dozens of brands over the years, skyrocketing his net worth in the process.

The four-time champion was paid like a superstar during his prime years, but compared to what players make today, it doesnt seem like much.

As a result, Shaq had to keep working in order to build his fortune.In an interview from 2015, ONeal shared one of his biggest regrets, describing an investment deal he didnt take.

The 15-time All-Star had a chance to partner with Howard Shultz and open up Starbucks stores in African American communities.

However, because he didnt believe Black people drank coffee, he declined the offer.Shaq explained that he doesnt back anything he doesnt 100% believe in.

So I looked at the great Howard Shultzs face and said Black people dont drink coffee sir, I dont think its gonna work,' he responded.Shaq knows that was one of the worst business decisions of his career.

Now, theres a Starbucks in every city, and ONeal knows he couldve have added a hefty amount to his fortune.The post When Shaquille ONeal Delivered an Important Financial Lesson to the Youth Using a Simple Piece of Paper appeared first on The SportsRush..

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