JAKARTA - Dwyane Wade and Shaquille O'Neal have had successful basketball careers and have a lot in common both on and off the court.
Off the pitch, they've done some ridiculous things: the two of them spent a lot of money when they started their careers in the NBA. Now, they hope that young people can learn from their stupid and wasteful mistakes.
The two NBA legends sat down with Shark Tank star Daymond John on Black Entrepreneur Day to talk to young people about the importance of managing finances in today's era.
Shaq admitted that he did not have a good education in finance when he became professional.
"After signing my first sponsorship agreement, I spent 1 million dollars in an hour to buy several luxury cars, jewelry, and a trip to Las Vegas," said Shaq quoted by MARCA, Tuesday, October 27.
In fact, Shaq spent so much money that the bank manager called him: "He warned me that I would be devastated if I continued spending like crazy, because I didn't take into account things like income taxes and so on," explains Shaq.
Meanwhile, Dwyane Wade tells a very similar story, saying he made some bad investments because he didn't know what he was doing.
"I spent a lot of money," said Wade. "I have a bad relationship with people from companies outside of basketball: restaurants ..."
Wade said he received no financial education and had to learn the hard way after he was taken advantage of.
But now, the two superstars hoped their past losses could become their current gain. They emphasized the importance of intelligence in managing finances so that young people spend their money wisely and do not go bankrupt.
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)
