Joe Smith discloses his financial struggles post-retirement, revealing a stark contrast to his $61 million earnings during a 16-season career.
Joe Smith, a former NBA player who had a 16-season career and played for 12 different teams,
recently revealed in an interview with Vlad TV that he found himself in a dire financial situation a few years into his retirement.
Despite earning $61 million during his NBA career, Smith admitted to having only $3,000 in his bank account and being heavily in debt, owing approximately $157,000 to various individuals.
Smith explained that his financial struggles were exacerbated by poor spending habits,
including the purchase of houses in every city he played for, a decision that significantly impacted his finances when it came time to move.
Despite earning a substantial amount during his career, mismanagement of funds and high expenditures left him in a precarious situation.
The former NBA player opened up about the emotional toll these financial difficulties took on him, leading to a deep depression.