NBA Star Jayson Tatum Saves Every Penny of His $7.83 Million Salary
What would you do if you earned $7.83 million every year? Because for basketball star Jayson Tatum the answer was always going to be simple: you save every single penny.
After a single season with Duke University, Tatum declared for the 2017 NBA draft and was signed by the Boston Celtics to a lucrative $30.1 million contract, to be distributed over four years… straight into his savings account, CNBC reports.
Instead, for living expenses he survives off endorsement deals with Gatorade, Imo’s Pizza and Honey Dew Donuts.
TOMORROW IS NOT PROMISED
We can’t all be young and athletic NBA superstars, of course, stashing away millions of dollars every few months. But Tatum’s reasoning is universal: he’s using his youth to save for his future, in case that future ever goes pear-shaped.
“When I picked my agent, I told him I want to do as much off-the-court stuff as I can,” Tatum told the Boston Globe. “Right now I’m young, so I try to do everything as much as possible … Tomorrow is not promised. You’re not promised the next contract. You want to save all the money you can.”
And Tatum’s not alone. Warren Buffett, Ed Sheeran and Dave Grohl are all known for either saving or living relatively frugally.
FROM FRUGAL BEGINNINGS
Tatum knows how not to spend, having grown up in a household that lived paycheck to paycheck while his mother put herself through law school. Now his mom acts as his financial and business advisor.
“She started talking to me about the importance of balancing all of this money,” Tatum said during an episode of Uninterrupted’s Kneading Dough.
Still, there are occasional spends, he told the show’s host, Maverick Carter, such as an Escalade for his mom and lots and lots of clothes for him. The man’s human, after all.
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