This is a No. 1 income doctrine Shaquille O’Neal schooled from his cavalcade sergeant dad

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Here's what Shaquille O'Neal did with his initial check — and his recommendation for immature people


Shaquille O’Neal might be best famous for his time personification basketball, though a late NBA star is also a savvy financier and intelligent saver.

At slightest he is now.

“My initial check, we blew it,” O’Neal, 46, pronounced Friday on CNBC’s “Fast Money.” “I blew it in like 20 minutes.”

But O’Neal wasn’t only being drifting with his money. “I bought my mom a car, father a car, paid off their credit, bought them a house,” he explains.

At a time, O’Neal says he knew he was immature and would have some-more income entrance in, and after that initial splurge, he became savvier and started stashing some-more in savings.

O’Neal says his late father, Phillip Harrison, had a certain impact on how he approached his finances. Harrison, who married O’Neal’s mother, Lucille, when O’Neal was was 2, was an Army cavalcade sergeant. Harrison taught him self-discipline — an charge O’Neal says is essential for immature savers.

“Every time an contestant would do something crazy, we would get in difficulty for it. So my father did a unequivocally good pursuit regulating shock tactics,” O’Neal recalls on “Fast Money.”

“A lot of athletes, when they’re finished playing, they have no income. And they go broke. And we never wanted to be like that. So even when we was creation a lot of income personification basketball, we would come home and see my father, and [he’d] be like, ‘Yeah, though what are we doing with your money?’”

Shaquille O'Neal with his father Phillip Sarge Harrison before to a start of Game Four of a 2006 NBA Finals

Over time, O’Neal’s financial bravery grew, as good as his net worth. While O’Neal late from basketball in 2011, he’s still flourishing his happening by investments and countless business ventures, and in 2016, Forbes reported his net value during over $400 million.

Those investments embody Google, in that O’Neal invested in a ’90s (an event that came his approach by a serendipitous babysitting gig), as good as Ring, a smartphone-friendly home confidence complement that recently sole to Amazon for a whopping $1 billion.

So what’s O’Neal’s financial recommendation to a fresh-faced players that have only been drafted? It’s something anyone can mind really.

“I’d tell them that this income isn’t going to final forever,” says O’Neal. “You’ve got to save it, you’ve got to deposit it and you’ve got to be smart.”

Don’t miss:

How a pointless ‘babysitting’ pursuit in a ’90s led to Shaq investing in Google



Shaquille O'Neal on LeBron's Lakers understanding and his business investments


Sarah Berger

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