Dwyane Wade Admits Taking Several Years To Learn How To Manage Money

Miami Heat basketball legend, Dwyane Wade has had a successful playing career and is now doing a great job as an entrepreneur. Although he has made close to $200 million in career earnings, he said it took him several years to learn how to manage money.

According to CNBC, he states that with all the money that young athletes are being given these days, he hopes they have someone who knows how to handle money in their camp. He said when he first got into the league, it took him more than five years “to even start to understand” how to manage his millions.

“I came into the league as someone who had never really handled more than $500 at a time, and [suddenly] I’m making millions of dollars,” Wade says. “It’s not that I didn’t have good people around me. It’s that no one was making the level of money that I was making. To be able to know what to do, you have to be with people who are on the level that you’re on. And I didn’t do that.”

But Wade did admit that he was too proud to ask for help at the onset of his playing career making the type of money he was making. And when he did get the necessary financial advice, he still did not know what was being told to him. He said he didn’t know if he knew how to listen.

“You don’t want people to think less of you because you don’t know something like how much money you have or what to do with your money,” he stated.

But he did say that he hopes the newer professional athletes are getting the help they would need from the pro sports leagues to help guide them to make the smart moves they need so they can make the right decisions when it comes to their money.

Dwyane Wade Admits Taking Several Years To Learn How To Manage Money