When you’re a young player coming into the NBA, the life adjustment hits you hard. Overnight, you go from a regular Joe to a millionaire. Sometimes players don’t have the right people around them to educate them on how to be smart with their money. Don’t worry. Dwyane Wade has got your back.
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The three-time NBA Champion was recently signing autographs at Fanatics Fest when he was asked by reporter Nay Monique what advice he had for future stars of the basketball league. After a moment of hesitation, The Flash gave an answer that he thought would best serve their interests in the long run.
“If you’re on your way to the NBA the finances are gonna be really really important,” Wade began. “Make sure you put people around you that are educated, not people that you think just have your best interests at hand. If they don’t understand finances then they not going to be able to help you.”
This may seem like basic advice, but especially in the NBA, with supermax contracts and more money coming in thanks to the new media rights deals, it’s essential for young ballers to hear. Wade wasn’t done either.
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“So make sure you go out and find the right people that’s gonna be able to help you make sure that the money you make right away is going to last you for the rest of your life,” the Hall of Famer continued.
This piece of advice isn’t just coming from someone who has made millions. Wade speaks from personal experience. His struggles with money date back to his childhood, but he learned lessons the hard way when he started a family.
Wade was broke in college and used his financial aid money to pay for diapers
Dwyane Wade was a student at Marquette University. While playing basketball was obviously his final destination, he still needed to survive. That became difficult when he became a father to Zaire, his now 22-year-old son, in 2003. During an old interview with The Atlantic, Wade revealed what kind of financial hole being a dad in college put him in.
“I was broke as hell in college, bro,” he said. “I’m talking about broke broke.” The Hall of Famer later detailed how all of his financial aid money went toward diapers for Zaire, putting him a tough position.
Fortunately, the guard was a big hit on the Miami Heat and eventually morphed into one of the greatest 2 guards of his generation. But along with his basketball success came his financial success. Together, along with his wife Gabrielle Union, he now has a net worth in the nine-figure area.
Good things tend to happen to good people, and there’s no better man on earth than D-Wade. So when he advises the future of the NBA to be smart with their money, y’all better listen. That’s not just coming from an experienced on-the-court veteran. That’s coming from a father.
