Former New York Yankees third baseman Alex Rodriguez was not only one of the best baseball players during his MLB career, he also successfully entered the business world as a businessman and entrepreneur, not to mention His selfless side.
In addition to the successful businesses the retired baseball player is involved in, Rodriguez has helped many people who have experienced financial hardship, including a former NBA star.
What A-Rod did was offer himself as a consultant to develop a plan to save Joe Smith and help him escape the financial problems he was facing after he wasted $61 million accumulated over a 16-year basketball career.
Through a plan developed by Rodriguez, Smith and his fiancée Kisha Chavez expect to be debt-free in about three years by cutting unnecessary expenses, CNBC reported.
Smith, who has played for teams including the Golden State Warriors, Minnesota Timberwolves and Los Angeles Lakers, said he has failed to take full advantage of the wealth he has amassed due to his history of overindulgence in luxury goods.
The former NBA star recalled that instead of investing in real estate or businesses that would bring him profits, he bought new models from brands such as Corvette, Bentley and Range Rover.
Although Smith and his wife earned more than $1 million a year tax-free, they retired from the NBA in 2011 with just $26,000. The retired basketball player had to work as a personal basketball coach and give lessons to children to earn extra money.
However, with Rodriguez’s help, Smith was able to earn more than ten times more than the cost of his treatment, thanks to the plan he developed to pay off his debt and get back on his feet financially.
