80% of professional football players and 60% of NBA players experience financial failure shortly after retirement. The list of horror stories of athletes going belly up when the “music stops playing” seems endless; Vin Baker, Antoine Walker, Lenny Dykstra, Curt Schilling, Mark Brunell… the list goes on.
Jamal Mashburn was a college phenom at the University of Kentucky and the 4th overall pick in the 1993 NBA draft by the Dallas Mavericks. He played 12 seasons in the NBA averaging 19.1 pts per game, before injuries took their toll.
- Stack your paper, work hard and save for your initial capital in order to invest it.
- Don’t invest willy-nilly, take chances but be be smart about them and do your due diligence. As noted above Mashburn invested in tried and true business models such as franchises while also allocating a small portion of his portfolio for moonshots (riskier investments with a chance for higher returns) via his venture capital firm. (Strike the right balance of risk for your portfolio.)
Lots of gems in this video, hope you enjoy and pay it forward.