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NBA players, being multi-millionaires, are all prone to make bad financial moves, and worse, end up filing for bankruptcy.
Time and again, there have been stories of former players suffering from their bad decisions either because of gambling, addiction, or even due to being “too friendly”. One disadvantage of being rich and famous is the horde of people that they attract around them that includes the “so-called friends”.
Hall of Famer Gary Payton knows better and he shares his approach from back in the day with Phil Thompson of the Chicago Tribune.
“I had four guys (who also were employees) that I grew up with and they were with me my whole career.”
“I didn't gamble, and the four guys that I had, I put them on a budget. We didn't go out and splurge, I didn't buy watches, I didn't buy Rolexes for them, they had to earn their money.”
It’s imperative for NBA players to avoid falling into this trap. While friends are always good, they got to be more responsible in filtering the genuine ones from those with ulterior motives.
Basketball isn’t permanent, and so is their money.
