Former NBA Player Evan Turner Shares Financial Lessons Learned
Evan Turner, a former NBA player, reflects on his financial journey and shares valuable insights for aspiring athletes.
Financial Pitfalls and Homeownership
Despite a lucrative NBA contract, Turner's financial mistakes led to substantial debt, including a car purchase. He advises against taking on unnecessary credit before securing stable income.
Importance of Financial Advisors
Turner credits finding a trustworthy financial advisor as his wisest move. He emphasizes the significance of open communication and ongoing education in understanding financial matters.
Building Financial Stability after Retirement
After retiring from the NBA at 31, Turner is adjusting to a lifestyle without his previous income. He is actively planning for his daughter's future and making responsible financial decisions to maintain financial stability.
Lessons for Athletes
Turner stresses the importance of managing spending, shedding past expectations, and seeking mentorship from financial professionals.
Financial Pointers from Evan Turner
* Avoid taking out large loans before receiving a paycheck.
* Seek guidance from a qualified financial advisor.
* Maintain close communication with your advisor.
* Regularly review your investments and financial situation.
* Adjust spending habits to fit your current financial reality.