Los Angeles Lakers head coach JJ Redick has offered a blunt explanation for why some NBA players struggle financially after their playing careers end: big salaries can disappear quickly when careers are short and spending is high.
Millions Won’t Last
Redick, who played 15 seasons in the NBA before moving into coaching, discussed the financial realities facing professional basketball players during a 2024 appearance on the Flagrant podcast. The interview recently resurfaced on Basketball Network.
Redick has an estimated net worth of $50 million. His career earnings include approximately $118 million in NBA player salary and a multi-million dollar coaching deal with the Lakers.
Redick pointed to the relatively short lifespan of an NBA career as a major factor. During his playing days, he said, the average career lasted roughly 4½ years, meaning many players never make it to a lucrative second or third contract.
Combine that limited earning window with significant financial obligations, expensive lifestyles and excessive spending, Redick argued, and even an NBA salary can disappear faster than many fans might expect.
“I don’t know what the average is now, but during my career, the average NBA career was like four and a half years, roughly. So if you play four and a half years, that means you’re not getting to a real second contract,” Redick said.
Redick estimated that many players earn roughly $8 million to $10 million over their first five seasons before taxes and expenses.
He explained that players quickly face major financial obligations, including buying a home and car, supporting parents and relatives, and paying agents.
Jaylen Brown, an NBA champion with the Boston Celtics who was recently traded to the Philadelphia 76ers, questioned whether NBA agents are worth their typical 4 percent commission.
Brown, who is entering the third year of his five-year, $285.4 million supermax contract, according to Sportrac, said he didn’t need an agent because of his status as an All-Star.
“You’re in the NBA. You’re going to get a nice car. You’re probably going to buy a nice house. But you’re going to take care of your parents before you spend another dollar. You got to pay your agent. So now… how is that supposed to last you the rest of your life?” Redick said.
Former NBA player Alex Acker also voiced similar concerns in a separate interview with Business Insider, drawing from his own financial experiences.
Business Insider reported that Acker entered the NBA determined to lift his family out of poverty after being drafted by the Detroit Pistons in 2005.
“I was never playing for the money. I loved the sport and knew money would come. But I wanted to serve my family. They were struggling, and I knew I could be a breadwinner,” Acker said.
Acker’s relatives depended on him financially early in his career, while many did not understand that taxes, pension contributions, and the uncertainty of a second NBA contract greatly reduced his take-home pay.
Acker also admitted he made financial mistakes by trusting others to manage his money, allowing family members too much visibility into his finances, and overspending with friends before learning to establish boundaries.
Business Insider reported that hearing statistics about professional athletes going broke motivated Acker to learn more about investing, improve his financial habits, and focus on distinguishing wants from needs.
After retiring in 2021, Acker co-founded Amongst Elite Capital in 2024, an alternative investment fund aimed at helping athletes, entertainers, and others build long-term wealth, according to Business Insider.
