Iman Shumpert isn’t worried about going broke.
After all — in addition to his own strategy of putting half of his money into savings and investments — his team, he said, is pretty frugal as a group.
He told this to Wealthsimple as part of a series called “Money Diaries”:
“Since I entered the league, half of my checks have always gone into a separate account. That money — I don’t even see it. It’s put into investments. I pride myself on doing that—I’ve done it no matter the size of my contract or salary. My checks went up when I signed my second contract and because of what I’ve saved I don’t really have a lot of worries about money. The funny thing is that now I that I can be way more flexible with what I’ll buy, I’ve found I don’t really need much. Since I became rich, I’ve gotten more free stuff that I have ever imagined receiving in my life. So that’s something: people have everything, really don’t buy much. That was a hard concept for me to understand at first.
Now that I think about it, our whole team isn’t big on expensive stuff. For as much money as we make, we’re all pretty cheap. We split the bill at dinner. We’re smart about our coins, man. If I ever wanted to have someone on the team invest my money, it’d be LeBron. On the other hand, who would I get to throw the most baller-ific birthday party? Like if I wanted circus-in-town type sh*t? I’d let RJ (Richard Jefferson) and Channing (Frye) throw it. Those dudes are crazy.”
As for the one thing he splurged on? A Bentley.
“Before the Bentley, I didn’t really care for cars that much. I was still driving a Jeep Wrangler. But then after riding in a couple Bentleys I was like, I like this. This is smooth. And then I found out how much they cost, and I looked at my account and realized that I’d just had all these checks piling up, and I was like, dang, that Bentley’s really not even that much. So I finally bought a Bentley.”
Date Posted: Thursday, January 4th, 2018 , Total Page Views: 999
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