- Andre Iguodala had some sage advice about money management
- He stressed getting wealth managers to help players understand wealth creation
- He also touched upon the importance of saving
Golden State Warriors veteran forward Andre Iguodala had some good old-fashioned money advice for young players with rich contracts.
Speaking on the latest episode of Gil’s Arena, Iguodala shared his two cents on how the young players should be using their money.
“I don’t joke about players who have so much money now. The only thing for them to do is turn the money into something bigger. Like that was unheard of for us. We can sign a big deal for $80 million, first of all, it’s $40 million. Then we got family members, and we got the expenses. Then there’s the NBA lifestyle. The lifestyle we were enjoying then is pretty much nothing to them now.”
He added:
“Get real wealth managers. Just open up their wall street journal. Get your treasure chest in place. Guys, if y’all can just get like, you have so much money you can set $50 million aside, and not touch it. And you can still have all the fun that you like.”
[Starts 1:43:57 onwards]
This is brilliant advice from Iguodala to the young players who make a rich moolah once they foray into the league. And while it’s good to see them live the dream, experience also says about saving for the rainy day, which the four-time NBA champion suggests.
In addition, the 39-year-old also spoke about wealth creation — something that makes for a responsible move. Hopefully, the young players will take his advice and make better returns on investment whilst also spending their money wisely.
The Golden State Warriors Need A Locker Room Leader In Andre Iguodala
With the Golden State Warriors looking to bounce back into championship contention, they will need a seasoned presence in Andre Iguodala.
The Warriors fell well short of their title aspirations losing to the Los Angeles Lakers in the second round of the Western Conference Playoffs. This offseason, they made a blockbuster trade for Chris Paul by trading Jordan Poole to the Washington Wizards.
While one segment would believe that the forward would have very limited contributions in the evolving league, he still holds a valuable presence in the locker room. With the team in dire need of rekindling chemistry, Iguodala in the team will be what the team needs as they begin their title quest.
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