Tim Duncan is one of the best forwards to play in the NBA. Duncan had a lot of success, winning multiple championships and making numerous All-NBA teams.
He also made a lot of money during his playing career. Though he made a good amount of money, there was an incident where he lost millions of dollars, but it did not affect him one bit.
Tim Duncan’s net worth
Duncan spent 19 seasons in the NBA. During that time, he was a 15-time All-Atar and a five-time NBA champion. He spent his entire career playing for the San Antonio Spurs, and he will go down as one of the best to play for the Spurs.
Duncan’s success on the court allowed him to be rewarded financially. His current net worth is $150 million. He earned an average yearly salary of $12 million plus incentives while playing in San Antonio.
How Duncan lost over $20 million
While Duncan was still playing, he lost a good amount of money from a financial adviser who was not upfront with him. Duncan said he lost more than $25 million in investments due to false advice from an adviser. ‘Luckily I had a long career and made good money,’ Duncan said in the article. ‘This is a big chunk, but it’s not going to change my life in any way. It’s not going to make any decisions for me.’
Duncan sued Charles Banks for over $1 million, according to CBS Sports, but because of the money he made throughout his career, he was still in a good position financially. “I’m a loyal guy. I’m a man of my word, and I assumed other people would be that way,” Duncan said. “That’s just not the case in life.” Sometimes things like this happened, and fortunately for Duncan, this incident did not put him in the wrong position.
This is a perfect example of how important it is to make sure you’re making the right decisions financially and that you trust the people that are dealing with your money. In Duncan’s case, because of the money he made playing in the league, losing $25 million was not a significant loss for him. He did a good job of making smart decisions, and that was just one mistake that he made that he certainly learned from.
Duncan did not let losing over $20 million affect him
Now, $20 million is a lot of money, especially a lot of money to lose. This would be a good story for younger athletes to hear about to see how easy you can lose money. Also, they can see how important it is to save money and make smart financial decisions.
Let’s just say Duncan wasn’t in a good place financially when he lost out on that money. Who knows the situation he could have been in? But because he was able to make smart decisions based on his salary playing in the league, that money he lost did not put a dent in his bank account. Duncan is living a good life and is still involved in basketball, being an assistant coach for the San Antonio Spurs.