Jim Jackson’s Advice To Young Athletes: Making Your Money Work For You

Forbes

Jim Jackson, managing partner at Adaris Capital Partners, joined Forbes senior writer Jabari Young on The Enterprise Zone at Nasdaq MarketSite to discuss his real estate portfolio and life after playing in the NBA. In 1992, Jackson was drafted fourth overall by the Dallas Mavericks, where he played five seasons. He went on to make more than $30 million in his career, using some of the earned income to build a real estate portfolio.  Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1  Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:  https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript  Stay Connected Forbes newsletters: https://newsletters.editorial.forbes.com Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: http://www.twitter.com/forbes Forbes Video on Instagram: http://instagram.com/forbes More From Forbes:  http://forbes.com  Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.

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00:00How much should a young guy today put up?

00:02Let's say he gets his contract, his rookie deal, I would say put up 70-80% of it.

00:0770-80%?

00:08Yeah, and from this perspective, depends on what kind of lifestyle you want.

00:12Because you can tuck that money away, they can earn interest, whatever it is.

00:15You can invest it, you can take a little part of it.

00:17They're going to get money from marketing, endorsements, whatever, that they can live off of.

00:22Marshawn Lynch was a prime example.

00:23He said, listen, I put my paycheck up and I lived off of my endorsements.

00:28You know what I mean?

00:28A lot of these young guys can do that.

00:30They get the big contracts and have the endorsements.

00:33And a big part of what you're living could be allocated towards the NIL or the NIL money that you already got in college, your marketing dollars.

00:43Utilize that money to kind of live your life.

00:46And over here, invest your main meat of your money into solid, whether that's businesses, whether that's real estate, whether that's in the stock market.

00:58To put it up and have it start to work for you.

01:00That's right.

01:01You know what I mean?

01:01And understand how to leverage and use money, not always use money.

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