I came into some money at a young age. Which can be a blessing, but it can also be trouble. I made some mistakes, learned from the best, and ultimately found a formula for financial success. Here's my story and the 5 principles I use to manage money well over time 🧵

It started when I was in college. College kids aren't great budgeters. You pay your rent and everything else is throw away. So if you come into money in around then, you've got a lot to learn. (This problem is only going to get worse, as college players get paid.)

That gave me a strong foundation, but it wasn't all smooth sailing in my 20's. I was pretty good about cars and houses. Spent very responsibly. Not so great about...experiences. If I had bought bitcoin with the $50k I spent at a club in 2015, I would have ~$11.4m today 🤯

Everything changed when I interned at Related. The difference between being rich and building wealth really hit me. Rich people can buy a lot of fruit. Wealthy people plant the fruit trees. Highly paid or not, I realized my money was just income. It could go away instantly.

I understood what I had to do to be respected on and off the field. I met VCs, PE funds, startups, learning as much as I could. I studied the markets and got into the business world. I knew I needed to figure my future out before I left the league. And that's where I am now.

My journey into financial literacy also helped me with everything else in my life. When people ask me about it, I always point to the same thing. The 5 principles I put together to make sure I always come out ahead. I still live by these to this day 👇

1) Learn the basics and learn them early (credit, budgeting, etc.) 2) Make your money work while you sleep (invest) 3) Create your own financial opportunities and own them 4) Help others on the journey, pay it forward 5) You need a lot less than you think to have a good life

When did you learn about how to manage your finances? Who taught you? Curious to hear about other people's journeys.

@NdamukongSuh @CoachJoeMoglia Great thread as usual @NdamukongSuh ! Curious to know what you’ve seen around the locker room and the league as a whole in terms of other players sharing in your enthusiasm of investing, budgeting, and overall financial literacy? Do other players share your thoughts?

@kleinsjosh @CoachJoeMoglia More interest every year. Seems like they’re are finally waking up

@NdamukongSuh @CoachJoeMoglia @stochtopus classic theft

@NdamukongSuh @CoachJoeMoglia Can you send me a copy of that spreadsheet please

@NdamukongSuh @CoachJoeMoglia Can you share this spreadsheet?

@NdamukongSuh @CoachJoeMoglia Could you share the spreadsheet? 😊

@NdamukongSuh @CoachJoeMoglia Can you send me template of the spreadsheets??