As most of us learn first hand the hard way, it is one thing to make money and it is another thing entirely to hang on to it. The advice from Shaquille O’Neal in this clip is excellent on how to set savings aside off the top and spend only what remains. The next equally difficult challenge though is how to preserve and grow the savings once amassed. This is much harder than most ever imagine, as the majority of financial products and conventional advice around investing are more likely to harm capital than grow it over full market cycles.
Shaquille O’Neal illustrates his money advice for young people using a blank sheet of paper. Here is a direct video link.
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