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Golden State Warriors star Kevin Durant grew up struggling while his mother, Wanda, worked hard to make ends meet as a single mother. That story is well-chronicled, and made a tear-jerking appearance in Durant's MVP speech in 2014.
But now that Durant is an NBA star, his financial situation is markedly different. When Durant joined the NBA, his mother gave him some good financial advice that she had learned over the years, per Courtney Connley of CNBC.
“I wanted him to realize you have worked hard,” she says, “and it is OK for you to enjoy yourself because of your hard work. But it is also imperative that you prepare for your future.”
She described her son as a frugal person — even as a kid he didn't require much to be happy. While she advised him to enjoy the rewards of his labor, Durant says she also wanted to make sure that her son knew the importance of financial planning, a lesson she didn't grasp until later in life.
Durant has invested in a slew of companies, and even owns a piece of The Player's Tribune. It appears Durant has taken his mother's advice.
The financial planning of NBA players or other professional athletes is not all that sexy of a topic, but it matters. Players often go from rags to riches, so to speak, practically overnight as teenagers or men who are not even legally allowed to drink yet. It can be an overwhelming experience.
And for some players, they waste all their money and are broke once they retire or soon afterwards. So smart financial planning and advice on that is imperative for young athletes who want to secure a future after playing. Many athletes retire around the age of 35, and even sooner for some sports.
Durant's mother deserves a ton of credit for advising him, and he deserves just as much for listening.
