Listen and subscribe to Financial Freestyle on Apple Podcasts, Spotify, or wherever you find your favorite podcasts. The assist is one of the most underrated statistics in basketball, yet it’s essential for scoring buckets. Former second-round NBA Draft pick Evan Turner understands this well and plans to apply his playmaking skills to the business world. Turner, an NBA veteran who spent a decade in the league, joins Financial Freestyle with Ross Mac this week to discuss how he’s translating his on-court experience into business success.
“The No. 1 thing in regards to business — I [want to] identify myself as is a collaborator,” Turner said. “When I talk to people about business, it’s like, ‘Hey, you can’t do everything on your own.’ I want to work, figure out ways and solutions to work, and see how we can help each other and make… bigger moves.”
Turner reflected on his journey from being drafted to experiencing financial wake-up calls along the way. “You leave college in March, the draft is until June, and you don’t get your first paycheck until October. … Before you know it, you are $120,000 in debt,” he said.
This financial reality isn’t unique to top draft picks. Over half the league faces similar challenges. According to the American Bankruptcy Institute, 60% of NBA players experience financial hardship after retirement. After leaving the league, Turner had to take control of his financial future.
Retirement forced Turner to shift his mindset. “One thing that occurs is … shedding that past chapter or whoever you thought you were.” He credited his financial adviser for guiding him through this transition. “He did a great job of being careful with me, but also being sensitive to the ignorance that I had in regards to money,” Turner said. Now, he encourages athletes to keep learning. “Basketball is cool, but … if you start learning, that’s where innovation comes from,” he said, emphasizing business fields like general management and logistics.
Today, Turner runs New Amendment, a production company he co-founded with Andre Iguodala. “I want to be able to tell my own story, own narrative of the great people and great men I met.” Financial Freestyle with Ross Mac on Yahoo Finance is dedicated to promoting economic prosperity for all. Through expert insights, practical advice, and inspiring success stories, we empower you to build and grow wealth. Join us on this transformative journey toward financial freedom and inclusive economic growth.
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