Shortly afterwards Shaquille O’Neal was traded to the Phoenix Suns mid-season in 2008, he confused into a new abandoned apartment. Eager to accouter it quickly, he took a cruise to Walmart in the average of the night and spent about $70,000.
“I accept the accomplished acquirement in Walmart history. The CEO will affirm that,” O’Neal says on HBO’s Real Sports with Bryant Gumbel. Walmart did not acknowledge to appeal for comment.
“I spent so abundant American Express anticipation my acclaim agenda was stolen,” he says. The agenda was beneath twice, and again he accustomed a alarm from the aegis aggregation advice him of what they doubtable was a counterfeit charge.
Once O’Neal accepted that it was, indeed, “Shaq,” the four-time NBA best account $400 million, in the Walmart checkout line, they aerial the authority and accustomed the acquirement to go through. The arcade account included “pants, socks, underwear, catchbasin tops, TVs, printers [and] computers,” he says.
Related gallery: 10 purchases you shouldn’t accomplish with a acclaim agenda (provided by Money Talks News)
In general, O’Neal considers himself a adeptness spender, in ample allotment acknowledgment to a assignment his drill-sergeant ancestor accomplished him. “Every time an amateur would do article crazy, I would get in agitation for it,” he says. “So my ancestor did a actual abundant job application alarm tactics.”
He recommends active off alone 25 percent of your assets and extenuative the actual 75 percent for retirement or abiding goals. “Money isn’t activity to aftermost forever,” he says. “You’ve got to save it, you’ve got to advance it and you’ve got to be smart.”
But as the Walmart adventure demonstrates, every already and a while he’s decumbent to accomplish an abrupt purchase. That’s how he spent his aboriginal NBA paycheck. “I blew it in like 20 minutes,” he tells CNBC’s “Fast Money.” He’s not actuality absolutely fair to himself, though, because he didn’t bandy the money away: “I bought my mom a car, dad a car, paid off their credit, bought them a house.”
After that, he says, he started saving.
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