Antoine Walker Explains How He Lost $110 Million

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” s let s just begin for people that may not be familiar with your career. Career. And how it just you know expanded into the world of professional sports in you were drafted into the nba just take us up from who you are and how you got there well i got drafted in 1996. I attend the university of kentucky and 19 years old.

I got drafted number six by the celtics and beginning my journey into the nba and was fortunate enough to play 13 years in nba three time all star play majority of my years in boston. Which was eight. But won a championship in 1990. I mean in 2006 with shaquille o neal and dwyane wade.

So that s what unbelievable you felt on top of the world. I bet. Oh yeah. I thought that the world was a you know was a minor issue would want to say.

But um. It was great i had a great career. I would never take it back it was something that i enjoyed and and we always remember the rest of my life. All right so you get drafted do you remember the big cheque.

Do you remember the first time. You got a big cheque. Yeah. My first check up you know cuz you don t get paid to november.

When you get drafted in june. Then you don t get paid to november. So my first big check..

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I took it in purchase to home for my mom okay so um. It was big. I was able to work out negotiation with the team to be able to get a big lump sum of my money upfront. Which is usually doesn t happen.

But i was grace of god i was able to do that and i m purchasing my mama home okay. So you buy your mother. A home. And you also help out other family members don t you and now you have a lot of very new friends yeah.

I m uh. I m the oldest of six. So it s four boys two girls i have two daughters of my own graduating and then obviously you know i got family. A friend so i m very close with that grew up with me.

So i usually ran with about eight to nine guys that kind of grew up in the same neighborhood and things with me. So i actually wanted them to see the same lifestyle that i that i was enjoying so what would be an example of something that you did at that younger age that you look back on now. So you just can t believe you spent the money doing that um. I would say a lot of exotic cars jewelry that i did i was a kind of car when i was very young.

I had five or six different cards. But i had the most expensive cars when we talking about mentally billy s made bags mercedes benz so a lot of high end things i was into designer watches uno rolexes um. You know timeless pieces that you can have forever so i was into those type of things all right that was what you were into. But you also paid for things for friends.

Didn t you you went places you went to vegas. Tell us about that aspect of it well we went on lavish trips. I mean we re going on vacation together we will go to cancun we go to puerto rico..

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We will go know different places and throughout the united states and weather and i would try with a big group of guys. I would travel with 8 to 10 people with me and pay for their flights hotel rooms eating on the road. So you add those combinations of things and all used to have it real big bills at the end of those trips. All right now you re getting paid.

Because you re playing professional basketball. Is there anybody on the team is there any business manager that says wait a minute antoine. You know you re a great guy. But the money is not going to last forever.

Anybody try to sit down and have that conversation. I had a financial advisor. A guy that was handling my money. But as any young arrogant kid.

I didn t want to listen to him. I ve kind of took things in my own my own matter and made sure that i did what i wanted to do with my money so i was advised a little bit. But i definitely took things of my own man. I just do my own being my own ego all right so you decide what that this is the life for you you keep spending the money.

But then something happens the money runs out what happened. What s the combination of things i think one what we just talked about the lifestyle. I lost a significant portion money gambling likes to go to vegas and gamble. I lost the bulk of my money investing in real estate in which the 2007 2008.

We went to the recession. I m sure this is like worldwide thing that we all went through and i got caught up in that web and that was that insultingly ended the bulk of my wealth. So you add those three things together..

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They played a huge part in me losing all my finances. Okay so you pick those things those three things. But now you take this idea that you want to share the story you want to complete it because you re at ab at personal bankruptcy. And you ve got a movie called gone in an instant tell us about the film well i wanted to come out in and basically try to teach guys not just necessarily athletes.

But just people in general about having a lot of money sometimes every different people come into wealth in different different areas so i wanted to share myself going through bankruptcy. I kind of got an opportunity to do that and see all the mistakes that i made so i want to share those things. But also tell my story so people can see it as a learning example. I m creating a foundation for finance literacy.

I have a book coming out at the beginning a year to talk about some of the trials and tribulations that i also went through and there so people can understand what s going on in life and make sure they do the right thing so hopefully it can hit home for everybody. No it doesn t necessarily have to be an athlete all right well i m glad you mentioned books because we d like to get to know you a little bit more and i d like to know for example. What is the the last book that you read read read what s the most current for you think rich and grow. The black choice.

I was just reading it i m just kind of learning about finances going through a different going through my process. I thought. It was a great book for me to read to kind of help me want to you know get myself back together. So.

I m not a huge book reader. So that book was brought to me. And told. Me i should read it so i read it and it s been very helpful.

And it spoke to you oh definitely i hit hit home just with a lot of financial situations. Things that i don t i never thought about when i was playing and when i had a lot of money all right now when you were growing up. While you were playing who was your idol magic johnson magic johnson was my idol obviously i wanted to be like i m on the court..

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My was a guy that was very tall for my age. So i grew to be 69. He was a 69 point guard. But also what he went through i mean the way he was so courageous and he came out when he got hiv virus.

I had the unique opportunity of 96 to be able to be around magic a lot and playing this charity game. So it was just one guy. a new low because this is sucked in a lot of long s and they re trapped that s getting a little bit more advanced on it. But you get the point the point is the entries.

They re the risk reward ratios are very very good you ve got an obvious reward you ve got a sensible risk. And it means that you re not concerned about this unless it matches that criteria because i see too many people doing this and you know what i ve done it myself guys all these things we talked about in there in the videos. Nine times out made the mistake myself trying to do this selling the highs and buying the loads of range. I need to summarize and buy the loads.

But getting pinged out with a stock or you know not sitting with it we re just taking them off the table because i m fearful. It s gonna break through or just basically making a complete mess of the whole thing whereas in reality. It can systemize the approach whether it s gonna pay out on payout for you over that period of time you don t know. But the point is you can cap the risk on it and it will work over the longer period.

And say hey if i use that rule it breaks through comes back up then i take my entry then i put my stop here now okay one thing. I didn t forgot to mention is if you only breaking through by a few pips. You might have a rule that says. It s got to go through by and close ” .

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