At the end of the day, from a purely financial perspective, nothing matters but net worth. Regardless of which career one chooses and how much one succeeds in that career or how much one progresses, eventually all that will be significant is net worth.
From Gameplay to Business
Earning a handsome salary or making a lot of money when one’s career is on an upswing is not a challenge. Most people who are sincere and ambitious, have the skills or talent and intend to grow will make substantial money. Some may mint billions while some will make millions and most people will earn more than a million during their primetime. How one utilizes this money during the time of earning it and after will determine their net worth. Very few people manage to earn billions while they are working. Besides, those who make billions, they have already hit the bull’s eye in net worth. It is those people who earn a few millions or a few hundred thousand during their primetime who must work on their net worth.
In ‘Nothing But Net Worth’, you will come close to a few basketball players who were hotshots during their prime years and they had made some handsome money but they made even more by using that handsome money wisely. There is no dearth of stories involving star players or basketball icons going broke after their career was over, despite having earned a fortune during their playing years. There are innumerable celebrities, entrepreneurs and sportspersons who have earned millions during their successful years and have gone broke and bankrupt afterwards. The difference between them and those on the list in the info-graphic is that the latter made wise choices. They saved and more importantly they invested their money into ventures that rewarded them. Not only did they protect their earnings but doubled and even quadrupled that.
From the likes of Michael Jordan who turned his career earnings of about $93 million into a net worth of $650 million to Ulysses Bridgeman who turned a relatively small $4.2 million into a whopping $400 million net worth, these men have certainly made wiser moves than their pals. The latter is almost a hundred times growth and that too mostly by making four wise investments, into Wendy’s, Chili’s, Blaze Pizza and Black Bear Soda. There are many such success stories but much fewer than the failure stories. You can take inspiration and choose the path you wish to be on, at least from the perspective of financial planning.