Shaq once blew through $1 million in under an hour, but now he saves 75% of his income (via CNBCMakeIt)
Thanks to advice he once got from a mentor, O'Neal saves the majority of what he makes, he said in: "I met a gentleman one time. He had a piece of paper. He said, 'This is $100.'" The man proceeded to rip the paper in half and then told O'Neal: "Smart people invest this $50 and then they have $50 left."
"But the wealthy people take half of that $50 … [and] put that away," he added. "So I started doing that," O'Neal said. In short, O'Neal saves and invests 75% of his income and lives off the remaining 25%. He also uses whatever is left over to "have fun with," he told the WSJ. "Cars, jewelry, whatever you want."any young person coming into a lot of money do the same: "I'd tell them that this money isn't going to last forever. You've got to save it, you've got to invest it and you've got to be smart.
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