Trevor Ariza made over $116 million during his NBA career. By any standard, that’s generational wealth, the kind of money that should set up his family for life. Yet, at 38 years old, he’s broke. He’s not the first athlete to lose it all, and he won’t be the last.
How does this happen? How does someone amass so much wealth in such a short time, only to be completely broke before 40? It’s a cycle we’ve seen play out far too many times. And before anyone starts listing off the usual excuses — agent fees, union dues, taxes — I’m going to stop you right there. Even after all those deductions, a professional athlete still earns more money than 99% of working Americans. So, let’s not pretend that the system is solely to blame.
I started working in the railroad industry in 1994, averaging just over $112,000 a year over a 22-year period. That comes out to just under $2.5 million, not even a fraction of what Ariza made. I had union dues, child support, and all the regular financial responsibilities that life throws at you. And yet, I retired at 45, transitioned into a full-time entrepreneurial career as an author, filmmaker, and promoter, and at 54, I can proudly say that life has been amazing — by the grace of God, the support of my loving wife, and an incredible network of people who kept me grounded. My father used to say, “Money is only worth something if you know what to do with it. That’s why you don’t need it when you’re young.” Like many things he said, I disagreed with him at the time. But as the years pass, I find myself realizing more and more just how right he was. I only wish he were here so I could tell him. Love you, Pops.
The story of Trevor Ariza — like so many other athletes and entertainers who go from riches to rags — isn’t just about money. It’s about financial literacy, discipline, and long-term vision. You can’t just make money; you must learn how to keep it, grow it, and sustain it. The ability to earn millions doesn’t mean much if you don’t understand how wealth works. For many young athletes, the money comes too fast, and the education comes too slow. They go from humble beginnings to signing eight-figure contracts overnight. Suddenly, they’re expected to navigate a world of business managers, financial advisors (some with their own agendas), high taxes, luxury lifestyles, and family expectations. It’s a recipe for disaster if they’re not prepared.
We’ve seen this before — Allen Iverson, Antoine Walker, Mike Tyson, and a long list of others who made more money than most people will ever see in multiple lifetimes, only to end up struggling financially. The common denominator? A lack of financial discipline, planning, and the ability to say no.
It’s not just about how much you make — it’s about how much you keep.
I wasn’t a millionaire when I left my railroad career, but I understood something many high-earning athletes don’t: sustainable wealth requires strategy. You can’t spend it like the checks will never stop coming. You can’t put everyone on payroll. You can’t assume that endorsement deals and contracts will last forever. Because they won’t.
More importantly, money doesn’t automatically fix bad habits. If you’re financially reckless when you’re broke, you’ll be financially reckless when you’re rich. The numbers might change, but the mindset stays the same.
This isn’t about criticizing Ariza — it’s about learning from stories like his. If more young athletes, entertainers, and entrepreneurs took the time to understand wealth preservation, we’d see fewer of these tragic financial downfalls. But that takes discipline, education, and a willingness to listen.
For those still on the rise, the question is simple: Do you want to just make money, or do you want to build wealth?
One lasts a lifetime. The other is gone before you even see it coming.
