The Financial Tip That Made Charles Barkley Millions
Charles Barkley credits Michael Jordan with teaching him a valuable financial lesson that made him millions. According to an episode of The Steam Room podcast, Jordan advised Barkley to renegotiate his contract and take only $1 million in cash and the rest in Nike stock options. This move allowed Barkley to benefit from the growing success of his signature sneaker, the Nike Air Force Max CB.
- By prioritizing equity over immediate cash flow, young athletes like Charles Barkley can set themselves up for long-term financial success.
- How do you think the Rule of 100, which recommends allocating a percentage of one's portfolio to stocks based on age, can be applied to everyday life beyond investing?