The day after it was calculated that about 150 current NBA players live paycheck to paycheck, CJ McCollum’s casting player Portland Trail Blazers explained how he arrived at that number and why he said that.
I think there are many players who, from what I’ve seen, experienced and studied, either don’t manage the money well or are not able to make the right financial decisions because they are assets of the first generation. It’s hard to manage money when you’ve never had it, and everyone around you has never had it, said the Blazers security guard according to NBC Sports.
Mr McCollum also noted that he did not ask for sympathy or beg for understanding for his remark. However, Star Blazer wants people to understand that they too are affected by the coronavirus pandemic, especially because of the suspension of the NBA season and the fact that the future of the league and its players is very uncertain.
I’m not saying this out of pity. We make millions of dollars. That doesn’t mean I’m fighting. They say that many players – especially between two and four years – still try to understand each other. Either they hired a financial advisor or they hired someone. They’re calculating their budget. And I think the interruption of work affects everyone, whether you have money or not, it affects the people around you, and it affects you directly, McCollum said.
In addition, the 28-year-old player noted that many players are worried about the agency tip and when they will not be paid. In doing so, many actors are forced to budget accordingly and avoid overspending in order to secure their future.
I’d say it was just an estimate, but frankly, I think it was an accurate estimate. I think the players – not just basketball players, but athletes and people around the world – really need to use resources beyond what they do in their daily lives and make a very good budget, McCallum said.
I think there are many first generation players and athletes who just don’t have the right training on how to manage money, how to manage wealth and how to grow money. And I think a lot of bad investments – and as we’ve seen from 30 to 30 – cost people. So my advice to people is to really save money, to really plan, because at some point, if we don’t continue playing, the payout will definitely change or stop.
The current average salary for an NBA player is $2.9 million, while the average salary is just under $7 million and the league minimum wage is about $893,000. Last summer, Mr. McCallum signed a $100 million five-year extension agreement.
See McCollum’s first comment on Jay Williams in the conference room:
– Jay Williams (@RealJayWilliams) 6. April 2020.