Nov 18, 2011, 2:01 PM EDT
The perception is that every NBA player is living life like Vinny Chase in Entourage. Women, drugs, parties, hangers on and money flowing out in a river.
It happens. But not to everyone.
Businessweek has a story with Jeff Foster, the Pacers center you usually think of as the other guy in the poster but who has hung in the league a dozen years. And he’s a guy who did something novel — he saved his money.
Foster has played in the NBA for 12 years and earned more than $47 million, and he’s done something extraordinary: He’s saved about three-quarters of his take-home pay.
The story goes on to break down Foster’s investments — he got burned by the Internet stock bubble but now has a diverse portfolio of investments. While a lot of players have had their last contract spread out so they got payments into the summer, Foster didn’t because he wanted that money to be earning him interest.
He did buy himself a Porsche at one point, but he’s sold it. He’s back to having an SUV now. Can’t have those wild expenses during a lockout.
- NBA lands in Africa trying to put down roots, which is all about youth programs, infrastructure 0
- Report: Kings expected to hire Nancy Lieberman as assistant coach 7
- Report: Hawks’ Mike Scott arrested for felony drug possession 8
- Gilbert Arenas on LeBron James: “James isn’t a #1 option..and yes I (didn’t stutter)” 39
- Report: Veteran point guard Andre Miller reaches one-year deal with Timberwolves 10
- Who is still out there: Top 10 free agents still on the market 14
- Donald Trump says he’s becoming a Mavericks fan after Mark Cuban’s comments 48
- Report: Michael Jordan shot down Boston draft-day effort to get Charlotte No. 9 pick 31