Athletes — like many in the era of internet, apps and whatever Kim Kardashian does — often become millionaires overnight.
Such a wonderful thing has its downsides, like fighting off ganons of leeches. Google says they’re called ganons; stay focused.
Sometimes the leeches will be those you love the most. Your instinct as a new millionaire may be to give family and friends all material items they desire. Kobe Bryant gives that notion a big Mutombo finger.
That’s why he wrote a letter to his 17-year-old self outlining five tips to being newly rich without becoming nouveau riche / hated by everyone you love.
- Make a budget for your parents from Rich Day One. Don’t deviate.
- Speaking of parents, let them be parents not managers. #MJ
- You are the leader of the family now. This means tough choices, often against the wishes of loved ones. Stand your ground.
- Instead of giving gifts, invest in people’s future. Use your wealth and influence to put loved ones in positions where they can find purpose and achieve dreams.
- Hold them to the same standards of dedication and hard work you hold yourself to.
Follow these tips from the get-go to avoid resentment you’ll otherwise wrestle with when trying to wean them off support years later.
More importantly, Kobe’s tips help you train world-beaters instead of beggars. Showing love by giving money is selfish and robs loved ones of independence and growth.
Set the right tone ASAP. But maybe just buy Mom one house first.
Photo via: Rich Polk/Getty Images for The Players' Tribune