If you’ve followed this blog for any amount of time… and we know you have! … then you know our man Shaq is doing OK for himself, financially speaking. Recently, in an interview with Yahoo! Finance / Benzinga, Shaq talked about how money issues are still a “thing” for players making millions in the game they love.
Shaquille O’Neal has never been shy about speaking his truth, and this time, the Big Diesel is dropping knowledge that goes way beyond basketball. The NBA legend recently opened up about a harsh reality many pro athletes face after retirement: money problems — even after earning millions.
Shaq knows the issue all too well, not because he lived it personally, but because he’s watched it happen to countless players he came up with. According to O’Neal, the root of the problem isn’t laziness or bad luck — it’s lifestyle.
When athletes are actively playing, the money flows fast and consistently. Big contracts, endorsement checks, bonuses — it all adds up quickly. And with that income comes a certain way of living: luxury cars, huge homes, entourages, and nonstop spending. The problem? That lifestyle often doesn’t slow down when the checks do.
“Sometimes you just get so much money that you forget,” Shaq explained. “I always tell them, ‘Don’t think about what’s going on now, think about what has to go on in the future.’”
Shaq broke it down with a simple but powerful example. If a player signs a five-year, $100 million deal, that’s $20 million per year. Many players, he says, mentally treat that $20 million like it’s disposable — because they believe another $20 million is guaranteed next year. And the next. And the next.
That mindset is where things start to fall apart.
Once retirement hits, the steady income stops. But the spending habits? Those often stay the same. Add in bad investments, poor financial advice, pressure from friends and family, and sometimes outright fraud — and the result can be devastating.
The numbers back it up. Studies have shown that roughly 60% of NBA players face serious financial trouble or bankruptcy within ten years of retiring. It’s a shocking stat, especially considering how much money many of them earned.
Shaq believes the solution starts with financial education — and accountability. Throughout his own career, he’s credited mentors, advisors, and a willingness to listen as key reasons he avoided those pitfalls. Instead of blowing through his earnings, Shaq invested early and often, building business interests that continue to pay off long after his final NBA game.
But his message isn’t just for athletes.
Shaq’s advice applies to anyone who experiences a big jump in income — whether it’s a new job, a successful business, or a sudden financial windfall. Planning for the future, living below your means, and understanding money fundamentals aren’t optional — they’re essential.
In classic Shaq fashion, the message is simple, honest, and straight to the point: money doesn’t last forever unless you make it last. Championships fade, careers end, but smart decisions today can protect your future long after the spotlight is gone.
Once again, the Big Fella proves that his impact extends far beyond the court.