CJ McCollum speaks out on financial planning amid coronavirus suspension
In an interview with Marc J. Spears of The Undefeated, the Blazers guard elaborated on his tweet about planning for the future money-wise:
“I have been strategically investing,” McCollum said. “Diversifying my portfolio. Learning more about other ventures and things of interest to where I am stable even though the market has been terrible. I lost another 10%. The S&P 500 is down 20% year to date. But I’ve diversified enough where it doesn’t really hurt me.
“Other people need to be forward thinkers. Not just basketball players. Not just people in the sports world. But people in general. Life happens fast. You have to have a Plan B, a backup plan and really figure out a way to have different avenues of income and just avenues of happiness. That is what is really important, being at peace and having that happiness.”
The NBA doesn’t last forever. At some point, the ball is going to stop bouncing for these players and they need to be financially prepared for the long-run.
McCollum is doing the right thing by investing his money. The Blazers’ prolific scorer will see the benefits down the line.
It’s unclear if the 2019-20 NBA season is going to resume. For the Blazers this season, McCollum is once again scoring the ball well. He’s averaging 22.5 points per contest.
The Blazers, should the season start back up, will be in the ninth spot in the Western Conference standings. The team has fell off from last season when they made it all the way to the Western Conference Finals. The Blazers got swept by the Golden State Warriors, but it was still a fun postseason run.