News – PH – Money Lessons with Kobe Bryant | Genesis Kelly S Lontoc

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The year 2020 will go down in history as the year in which many unfortunate events took place On January 1st, 2020, legendary basketball player Kobe Bryant was killed in a helicopter crash in the United States.His popularity went beyond the basketball court.He was truly a global icon.Kobe won an Olympic gold medal and won five NBA championships. His athletic success came with financial success is therefore interesting to see how a superstar like Kobe managed his finances and what the main views on money were

Kobe Bryant only played for one NBA team, the Los Angeles Lakers, for 20 years.He went out of his way to develop his basketball skills. Long hours of practice have been a staple throughout his career.The first lesson is that money is a result of effort At the beginning of his career he made $ 3.5 million annually; However, Forbes estimates that Kobe made around $ 680 million during his retirement, making Kobe one of the highest-paid athletes and professionals in history

Kobe was quoted as saying, “Our mantra is to add value, because to grow you have to constantly learn, constantly move, constantly improve” For Kobe, it was not just about the number of hours, but also the number of hours Quality of Hours Invested Getting better with time is the key to a successful career So, a nice question is, “What’s next?” We must strive to achieve the best versions of ourselves. Competence ultimately brings Compensation

Kobe was quoted as saying he understood “the importance of building value and managing your finances” With his athletic success, Kobe knew that financial success was essential. Kobe knew that there were well-paid athletes who would eventually go broke While still having success as a basketball player, Kobe planned his retirement and a better future for his family Despite all the distractions that come with fame and fortune, Kobe kept going on the right path

Kobe Believed in Multiple Streams of Income While making big money on his basketball player salary, he signed advertising deals with well-known brands such as Nike, Coca-Cola, McDonalds, Mercedes-Benz, and Hublot, and he didn’t stop with endorsements he invested in various companies like BodyArmor, Art of Sport and HouseCanary. He also published books and his animated short film “Dear Basketball” even won him an Oscar. His diversified income streams made income sustainable

On a business front, Kobe had interesting advice. He advised only investing in companies that you understand. It can be disastrous to be in a business where obscurity of the operation and the landscape is evident Business Should Be Patient In some ways, business requires commitment and resilience. He also advised investing with the right people. A strong culture with competent and ethical people strengthens a company

Kobe was quoted as saying that “It seems like the right decision to give only material things to your siblings and friends; But the day will come when you realize that, as much as you believed you were doing the right thing, you were actually holding back, “Essentially more than just giving,” Kobe recommended, “the need to find a way to move forward Investing in Your Family and Friends “This lesson generally recommends that teaching loved ones how to fish is much better than just giving them fish

Kobe Bryant had massive net worth, but what is more impressive is how he managed to properly manage his fortune.He remains a hero to many.His legacy, both in and out of court, particularly in relation to the finances, is permanent Hopefully Kobe inspires us all to manage money better

Gemmy Lontoc is a registered financial planner with the RFP Philippines. To learn more about personal financial planning, join January 87, 2021 RFP program part To make an inquiry, send an e-mail to [E-Mail protected] or send a text to at 0917-6248110

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Kobe Bryant, Los Angeles Lakers, NBA

News – PH – Money tuition with Kobe Bryant | Genesis Kelly S Lontoc
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Source: https://businessmirror.com.ph/2021/02/23/money-lessons-from-kobe-bryant/