JJ Redick's Personal Finance Lessons From Duke Through NBA Retirement
HTML-код
- Опубликовано: 26 сен 2024
- Thanks to SoFi, the Official Bank of the NBA, for sponsoring! Enter for a chance to win $10K: sofi.com/jj
In this special episode sponsored by SoFi, JJ Redick and Tommy Alter discuss JJ's personal finance lessons he learned throughout his basketball career from Duke through NBA retirement.
Subscribe to The Old Man and The Three podcast w/ JJ Redick (ESPN / First Take) and Tommy Alter RUclips channel today for more NBA analysis, player interviews and highlights. 
Спорт
NOBODY talks about this, thank you JJ. This is another tally for the good guys 🤘🏼
I have an undergrad degree in personal finance, an MBA and currently working on a Masters in Accounting. It makes me so happy to hear the success JJ has had and the fact that he’s found a trusted advisor.
Undergrad Accounting Major. good on you for learning the language, it is important. so many business people don't know ANY accounting, which is scary. I'm going into M&A financial due diligence/financial consulting
hearing someone like JJ talk about the finance side of the game is interesting asl
Whoa look out for the cool guy
@Patch4Prez not being broke is cool theses days bruh
@@forthdimension686 ok
I'm an accounting professor. I'm teaching MBAs and Undergrads who mostly care about other areas of business. I might share this with them as a good motivator to learn what they need to in my class to track their own finances properly and the business finances that they are running.
This was a raw conversation about finances and there is a lot to learn from JJ, no matter how much you make.
THIS NEEDS TO BE A SERIES! PLEASE.
This is awesome JJ! As an ex pro swimmer, finance and MBA grad, I am glad I could hear your side. All the best to you and your fam! ❤️
Can I pick your brain about swimming
@@Slow.Smooth Yes sir.
JJ DONT LISTEN TO THE HATERS IN THESE COMMENTS‼️ REAL ONES IN HERE APPRECIATE THIS EPISODE ABOUT FINANCIAL ADVICE AND FINANCIAL LITERACY🔥🔥🔥💪
I love hearing stuff like this. I feel like JJ and a few others are the last people giving actual insights to the sports world rather than just hot takes
Love the last message. take ownership of your finances.
I work in the financial advice field and I enjoyed this episode and thought JJ had some good thoughts and loved his mindset about money!
Way to keep the content diverse
Appreciate this episode thank you Jj and Tommy
Great talk. Nba finance is a great topic that never gets brought up besides the cumulative contract earnings or when a player meants they are now broke.
This is a sneaky great video. Nice symbiosis with sponsor needs and viewer curiosity.
Yeah this is a really scrappy, first in last one out type of video. Really good fundamentals.
I love this episode for the reason that I hope the younger athlete watches it because it's you and they'll learn something and even approach you with questions about $$$.
Really good episode regarding a tough topic. Financial literacy is incredibly important and being able to understand you financial situation is necessary for every person. Lots of good advice from JJ here that is applicable to many in America.
One of the best episodes so far. Coming from a finance mortgage geek over here. Well done, JJ and Tommy!
So good. Tommy and JJ have such good chemistry also.
Loved this JJ, I don't usually comment. We should have more of these and even more advanced stuff sprinkled in since most don't have access to people like you do. And whoever thinks this only applies to professional players lacks financial knowledge and needs it the most. 💯❤
This kind of stuff is clearly the best part of his podcast.
Don’t listen to these basketball sickos in the comments. I would listen to a completely separate podcast with “business of sport” related topics. This was EXCELLENT. Nice work fellas.
Shout out to Adonal Foyle, Warriors legend!
Incredible episode JJ. What you said starting at 28:34 speaks volumes! 👏
It wasn't pushy, it wasn't preachy, it was just right. It's something everyone can use. This episode is great!
Fantastic episode. Thank you!
Great video, people are too touchy about finances. Learn from those who were successful and be humble.
pretty inspiring to hear an nba player talk about finances in such a down to earth way.....So much better than the "flashing bling" bullshit you see all over the media when it comes to professional sports...good job JJ...respect!
This is a good episode and shows JJ actually thought about his future. Lots of players don’t and end up broke. Look at Iverson. Made way more than JJ but still ended up going bankrupt. This just shows no matter where you’re at in salary you have to think about your financial future
In the past that was a major issue. Today's players are generally more financially savvy and the league does a good job of providing resources/help/advice. I'm happy to see that has changed dramatically in the NBA. The NFL on the other hand...
AI isn't broke lol and even if he does ever go broke he's got a $30+M Reebok account that's been gaining interest since 2001 that he gets in 2030 lmao he's fine
@@STANKYCHEEZEMAYNEhis ex wife gets half and he doesn’t get the interest FYI. He gets yearly payments from the trust and lump sum.
this is one of the best episodes - i've learned a lot listening to this.
According to basketball reference he made $117 million over his career...very nice
Great episode. I think we're all heartbroken -- even though most of us can't imagine ever being "in their shoes" financially -- when we see news stories about professional athletes, who made millions...but are now broke, bankrupt, or even homeless. According to Spotrac, J.J. made $116,423,821 -- in salary alone -- during his NBA career. He'd make that in just 2-3 years, if he were in his prime today...but that's beside the point. Most of us wouldn't notice (since we rely so heavily on our phone or computer, when it comes to banking) -- if $5.00 or $10.00 went missing from our bank account. Translate that into J.J.'s world -- and if I were him, I'm not sure I'd notice if $10,000 went missing. So his point about "outsourcing" personal finances management is a good one. You wouldn't put a new roof on your house, if it needed one. And with rare exceptions, you wouldn't replace the engine in your car. Heck, lots of people "outsource" vacuuming their carpets to 'Merry Maids' -- and buying milk, bread, and eggs at the market to one of those 'app' companies. So hearing J.J. and Tommy talk about this, brings home the point: If you wouldn't try to install a new sewer system beneath your home, because you're not a professional plumber -- then it doesn't make sense (unless you study up, and become a C.F.P. or an accountant), to think you can do a "professional" job of managing -- and preserving for your children -- $116 thousand dollars, let alone $116 million. Thanks for doing this, guys.
I like it when celebs and athletes show some of their finances like this. Thanks!
To his point, “You have to INSPECT what you EXPECT”.
Sofi def paid JJ to produce this… def an episode nobody expected
Thank you for this conversation
Great podcast JJ, much respect.
Y’know JJ, I just turned 23 and I’ve got exactly $15 right now and $25k debt on student loans plus I owe my trainer and gym memberships $4k altogether so I guess we all start somewhere.
You have a personal trainer?
Yea ur Fukin up a personal trainer is just another excuse to justify not been able to do it your self with out paying the 4k
Check out Ramsey solutions
You better start figuring out your needs and wants.
This is an excellent and important conversation.
I love seeing players get properly compensated for the value they create, and i hate seeing former players wind up broke.
Oh wow, just noticed the channel crossed 1M.
Loved listening to this episode!
RPM on this episode is going to be through the roof 📈
Love this episode. Want more money? Then take ownership like JJ said. Read up on how it actually works. The Psychology of Money, The Richest Man in Babylon , Rich Dad Poor Dad and The Go Giver are a few. Then surround yourself with people who are ahead of you financially. The answers and pathways are out there if you want it.
Gotta bring Adonal to the pod and have him talk about his philanthropy. ~P.S. Longtime GSW Fan.
Great video! Surprised at some of these comments
Me 2. Ppl think J's bragging but he's not. If you think a 15 year NBA vet is broke idk what to tell u. He's out here talking about the importance of this topic.
This might be my favorite episode
Great conversation!
I love content like this. I've been interested in making sure my money gets properly invested my whole adult life. Hopefully it sets me up for an easier life down the road.
As an NBA active consumer, this podcast was really entertaining and interesting 🔥
Really Cool you talking about this
I am a CPA and I always tell people everyone should understand simple accounting. If you are a kid and don’t know what to do in life. At a minimum, go to community college and get an associates in accounting. Community college is dirt cheap or free for most people.
🔥🔥🔥read and ask questions is all you have to do. Great episode
Great episode!! JJ always on point!
JJ you are that dude. Love you man. Go Duke
Great episode
This was a gem!
I hope all athletes get to watch this free piece of great education. Stop with the 304's and insta models, that has no ROI
It saddens me that this has come to an end.... JJ is gone.
Great episode. Embracing the hell out of personal responsibility and obsession over details are the Duke way.
Great content!!
In any investment decision your process to get to it is way more important than the outcome
Fire episode
Jj paving the way
Say real numbers JJ. Efff. We all know your rich JJ! Knowing your actual target amount and other numbers/details would have made this exponentially more interesting!
congrats on 1 mil JJ.... let the cycle to 2mil begin!
This is great!
Good talk! I never use to understand how entertainers/athletes even had a debt like a mortgage when they retired. By the time you retire from the league you should be totally debt free with money growing in your investments.
Love this.
Wow, really good one, well done!
Would like to hear more internal stories from NBA that are not directly connected with playing.
Unbelivable that the house you bought in Miami is still not worth as much you bought it for. Just bought my first home last year and a bit worried now 😂
Great job JJ. I also would not trust others with a lot of those personal finance decisions
Great conversation! Wondering if JJ’s favorite word ancillary sicko?
40 minute commercial is insane
40 minute SoFi advertisement, great stuff!!
EXCELLENT.
Thank you, for sharing this information us, I'm personally not making NBA money. But, this was a over lesson to learn different of investment to set for the future.❤❤❤
uncut gems - pun intended
As a fan of professional Athletes I realize that I was not aware that They need to be proactive with their financial decisions. I'll see a contact for 4 years 28 million and think they're set. Live off the interest. But seems like there's so much more to it than that
My favorite lesson on compound interest was a teacher somewhere between gr6 and 8 who said "if I wanted to hire you for a month and you starting pay per day was $0.01 but I doubled your pay every day, would you work for me". 99% of of the class said no and then he started writing the values out on chalkboard. "Bet you wish you said yes!"
An extreme example but it taught us to look deeper whenever doubling is at play (so like retirement planning can be how many 8 year doubling periods do I get prior to retirement?)
Glad to hear players are actually being financial educated but unfortunately most refuse to listen. Interesting people forget the need to pay taxes for the state you make money in. I see why big entertainers love residency in Vegas.
Everyone is a financial advisor nowadays
Compound interest…..1 becomes 2 becomes 4 becomes 8 becomes 16 becomes 32, 64, 128, 256….and so on.
I drive a truck and only pay one state a tax but I’m driving in every state. Kinda odd that u got taxed working interstate
It is called Jock Tax.Both entertainers and athletes have to pay it.
Clearly Kendrick Perkins doesn't feel the same level of guilt you do about obsessing over the NBA 😂
All these chumps in the comments getting emotional cause JJ is a millionaire talking about money. Direct reflection on yourself if you react this way. Jealousy ain't gonna get you rich.
First of all, I’m a TarHeel bball fan. Secondly, I’m a huge JJ fan (waiting for UNC fans to beat me up.). In all honesty, I’m still waiting for JJ to miss a 3 whenever he played the Preds
Foresight, forethought, foreshadowing 👍
I waited to listen to comment but I didn’t pick that up from JJ at all
Are there former NBA players that ref NBA games? if not, then what is your reasoning they don't? This could help with finances in retirement. I know a lot go in to commentating in retirement but never see any stories on a former player reffing.
50 million in Tbill, you should be fine.
All love here.
Is that other guy trying to derail JJ ?!
He’s not even listening he is asking prepped questions that aren’t really going with the flow.
Tommy always interupting the momentum of the conversation.
What are you up to I can't leave it, keep videoing
It is crazy that even though u are successful in lots of investments, u will always remember the unsuccessful ones
Tommy needs to work on being more concise. asks questions in the most round about way
There was nothing valuable in this episode. Just a bunch of vague comments.
Didn’t you make 10-15 million a year?
And….?
It doesnt matter how much you make 1$ or 1 million at the end of the day you need DISCIPLINE to get rich.
@@theChef1337 if JJ spent 20 million a year, he’d be poor, look at Allen Iverson.
@@katrinaa7581 not sure what point you are trying to make, but im saying it doesnt matter how much you make it matters how you save vs spend and being disciplined with your finances over years not expecting to get rich quick overnight.
"Yes. What's your point?"- Taraji P. Henson
This was so generic. I assume most intelligent and moderately shrewd people already knew everything JJ said. Hard numbers illuminate and educate. If you're not comfortable stating those, why bother with this conversation? Generalities are far too opaque to be useful. Most people already know to look both ways before you cross a street.
Love your content, and there are some gems here but it seems like an unauthentic commercial.
The commercial can unauthentic, but the podcast is good
@@MichelePonte agreed
Lmfao I do the same thing with my old house on Zillow 😂
Bro this other guy prefaces his questions so long that he never asks one and JJ eventually ends up interrupting. Plant your foot and ask your question weirdo.
First of all, interesting video.
Now, to me this mindset ilustrates greatfully how economics work (and if I may add, why it sucks). You earn money from your work but you are expected from young age to invest it and generate more. And more. And more. Of course, through investing, thanks to real estate, to stocks... Elite ahtlets became really quickly in elite thanks to (here it comes) capitalism.
Why not enjoy just the money that you earn for your work, which is more than enough to have a joyfull life? Why more and more and more?
generational wealth.
No one is forcing you to earn more money. But eventually you will be physically incapable of making money (or just don't want to work) so you will need to have money saved to pay for food.
@@sadfasde3108 the amount of money that an elite athlete makes in his career is more than enough to have a pretty good life. Furthermore, even when their sports careers are over, they can work, for example, as comentators, which also grants them a good amount of money. So I don't get the investment thing besides a "shark capitalistic" mindset, which I see as profound socioeconomic problem, to tell you the truth.
@@TheAmonraulso you are advocating people to spend all the money they receive? It seems a contradictory position on your part, when you complain people wanting more. People invest and save for a rainy day, you don’t need to spend everything you make. On top of that, The most useful thing that money can bring you is freedom. If you live paycheck to paycheck, regardless of the amount of money you have… are you really free?