Financial Freestyle: Evan Turner's NBA Journey and Retirement

Early Earnings and Costly Line of Credit

After signing with the Philadelphia 76ers in 2010, Evan Turner's two-year contract reportedly valued around $12 million. Despite being a former second overall NBA draft pick, Turner now embraces his new identity as a "retired has-been basketball player and a dad."

Turner's early financial mistake, as revealed on Yahoo Finance's Financial Freestyle, was obtaining a line of credit before receiving his first paycheck. This decision led him into significant debt.

Finding a Financial Advisor and Adjusting to Retirement

Recognizing his financial ignorance, Turner sought guidance from a financial advisor, who played a crucial role in educating him and managing his finances prudently.

Upon retiring from the NBA at 31, Turner faced the challenge of adjusting his finances to a lifestyle without NBA income. This involved reducing expenses and planning for future expenses such as his daughter's college education or wedding.

Turner emphasized the importance of cultivating a close relationship with his financial advisor, fostering open communication about financial matters.

Lessons Learned and Advice

Turner acknowledges that adjusting to post-NBA life involves letting go of past earnings and adapting spending habits. He encourages listeners to shed outdated perceptions of themselves and embrace the reality of their current financial situation.

Resources

* Financial Freestyle episode featuring Evan Turner: [Video Hub Link]
* Additional episodes on wealth-building journeys: [Streaming Service Links]