The former NBA player made more than $60 million in his career after graduating from college.
Some athletes have had financial issues.
A mistake players make is overestimating how much they make.
Josh Childress, a former NBA player who has made more than $60 million in his career, is currently playing in Australia.
The interviewer asked how athletes go broke.
Even though he's making less money now than when he was in the NBA, he has been able to avoid the financial problems that other athletes have faced.
The first mistake athletes make is overestimating how much money they have, according to the sixth pick of the 2004 NBA draft.
The first mistake is people saying they have $11 million. Over four years, you have five million dollars after taxes. That million-dollar house that you thought was $11 million is actually $10 million more expensive. A lot of men buy their mothers a house or a car. They purchase a car of their own. The fee is 2% to 4%. The NBA is in the hands of you. That check is eaten up.
The influence of veteran players who make more money is one of the factors.
Some of my vets spent more than others. You get used to those guys taking you under their wing. You end up spending a lot more than you should if you get caught up in that.
He was able to keep his spending in check despite falling into a similar pattern.
You can watch the full interview here.
It was published in 2015.
You can read the original article.
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