Larry Bird saved his NBA money and refused to give money to other NBA players that went bankrupt
LOL LOL LOL Deferred Gratification something, something
Larry Bird remembers when players that later went bankrupt made fun of him for saving his money - "They'd just laugh and make jokes about me stashing my money away"
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He refused to give money to players that went bankrupt
During his career, Bird had several encounters with players that made less than him but led an expensive lifestyle that soon ruined their lives and the lives of their families, and they couldn't pay their bills anymore. Bird often advised them to save money and prepare for life after their careers were over, but most of them never listened, and some even made fun of Bird and his way of thinking and handling his finances. Soon enough, some of them reached out to him to borrow some money, and Bird always declined because he tried to warn them in the first place about what would happen if they didn't think about the consequences of living a somewhat modest life.
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NBA players filing for bankruptcy a few years after their careers are over is a big problem, and countless similar stories resurfaced over the years. That is the main reason why the NBA implemented programs where they educated young players on how to take better care of their money. We are now seeing players investing their money in various businesses, which is a great way to diversify their portfolio, get some relevant business experience, and have a backup that can generate income when their careers are over.
Fancy cars, big houses, diamonds, and expensive clothes are nice things to have, but they don't provide any additional value or happiness, which is something Larry Legend figured out early on in his life, unlike many other NBA players who wasted immense amounts of money chasing material things. Investing in yourself and ideas that can generate profit is the best way to go while also thinking about your future and what it might look like after your professional career is finally over, no matter what amount of money you have in your bank account.
https://www.msn.com/en-us/sports/nba...901244c80c01af
