The smarter ones, ends up hiring a financial company to take care of their business. I agree that the older generation didn't made that much, but we hear stories about rich players who nobody heard about, because they made good investments.
An example is Vinnie Johnson, the Pistons guard, who never made a dime over 800k in his career per year, and yet he has a 500+ million dollar empire today. How? He created an auto parts company, that spreads across all over USA, and response very quickly to any failure. See how he was smart with his money? Even someone as famous as Magic Johnson, didn't made as much as Malik Beasley did in his career, and yet he owns 1+ billion networth now, thanks to his investments. You just need to realize, while earning, those checks will not keep on coming, so use those to buy something that will keep on getting you paid.
An example is Vinnie Johnson, the Pistons guard, who never made a dime over 800k in his career per year, and yet he has a 500+ million dollar empire today. How? He created an auto parts company, that spreads across all over USA, and response very quickly to any failure. See how he was smart with his money? Even someone as famous as Magic Johnson, didn't made as much as Malik Beasley did in his career, and yet he owns 1+ billion networth now, thanks to his investments. You just need to realize, while earning, those checks will not keep on coming, so use those to buy something that will keep on getting you paid.
In the past, there weren't huge endorsement deals; the NBA wasn't such a big business, and no one was earning that kind of money. Today's basketball players have very high contracts; basketball has become an industry, and even the worst players in the NBA earn significantly more than players from the 1980s or 1990s.
I think the players who played in the NBA's prime years, the 2000s, should have been earning the most money. There are hundreds of players from that era who couldn't manage their finances effectively; we see the stories of many players websites
