Shaq made a backup plan in case he lost his fortune. He says it'll pay him $1 million a month starting next year.
NBA icon Shaquille O'Neal spoke about his guaranteed paycheck, his early Google wager, and the "stipulations" on his children's inheritance.
Shaquille O Neal has arranged a retirement income plan through a standard insurance product. The NBA star disclosed that this annuity will provide him with $1 million monthly starting next year. O Neal explained that he invested heavily in annuities to ensure a consistent income, should his investments fail. The conversation about his financial strategy occurred on the recent episode of the Dinner Party podcast.
O Neal recounted how a wealthy individual advised him to save 75% of his earnings, while playing with the remaining 25%, to maintain wealth. Having accumulated substantial wealth, the four-time NBA champion determined to secure future income. He expects to receive nearly $1 million each month once he turns 55. O Neal also shared details about his children's educational requirements and the stipulations they must meet to inherit his wealth.
He emphasized the importance of obtaining at least two or three degrees to access his inheritance. Additionally, O Neal recounted his past investment in Google, which he made before the company went public, and later lost following his divorce in 2009.
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