Shaquille O'Neal Reveals Why NBA Players Struggle Financially After Retirement: 'Sometimes You Just Get So Much Money That You Forget'
- - Shaquille O'Neal Reveals Why NBA Players Struggle Financially After Retirement: 'Sometimes You Just Get So Much Money That You Forget'
Bibhu PattnaikDecember 21, 2025 at 6:31 AM
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Shaquille O'Neal Reveals Why NBA Players Struggle Financially After Retirement: 'Sometimes You Just Get So Much Money That You Forget'
NBA icon Shaquille O’Neal has shed light on the financial difficulties that many athletes face post-retirement. O’Neal points to the opulent lifestyle that players grow accustomed to during their active years as a significant contributing factor.
What Happened: O’Neal highlighted the challenges athletes face in adapting to life after their sports careers. Not only do they grapple with the absence of the game that formed their identities, but they also struggle with the lavish lifestyle that came with it.
The steady flow of income during their active years often leads to unchecked spending habits.
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However, post-retirement, this unchecked spending often leads to financial issues. “Sometimes you just get so much money that you forget. I always tell them, ‘Don’t think about what’s going on now, think about what has to go on in the future,'” O’Neal said.
“If you got a five-year deal worth $100 million and make $20 million per year, you spend 20 in the first year and be like, ‘You know what? I got another 20 coming.' That's how guys are thinking,” he shared.
It’s a startling fact that 60% of players face bankruptcy within a decade of retiring. This is often attributed to poor spending habits, ill-advised investments, or a complete lack of investments. Other contributing factors include falling prey to fraud, dubious investments, and financial exploitation by friends, family, and advisors.
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O’Neal underscored the crucial role of financial literacy, guidance, and awareness in helping athletes safeguard and grow their wealth. The NBA legend’s insights highlight a systemic issue that extends beyond the basketball court and into the realm of financial education and management.
His comments serve as a stark reminder of the importance of long-term financial planning, not just for athletes, but for anyone earning a substantial income.
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This article Shaquille O'Neal Reveals Why NBA Players Struggle Financially After Retirement: 'Sometimes You Just Get So Much Money That You Forget' originally appeared on Benzinga.com
Source: “AOL Money”
