Invest for the long run
You might recognize Steph Curry from his NBA career, which includes three championships and two MVP awards. Or perhaps you’re more familiar with his work on the golf obstacle challenge show Holey Moley.
Either way, Curry has made bank over the past several years—but that wasn’t always the case.
Earlier in his career, Curry suffered multiple injuries, and it looked like he might be one of those players that flamed out because he kept getting hurt. The Warriors offered him a four-year deal worth $44 million in 2012. The contract made Curry the fifth-highest-paid player on the team, despite being the best guy on the court.
Curry didn’t pout, though. Rather, he used that money as a foundation to build up a business empire. Curry smartly recognized even a “modest” contract by NBA standards was “plenty for me to be able to provide for my family,” and it wasn’t worth the risk of trying to be greedy to get more immediate money.
The move paid off. Curry later signed a deal with the Warriors worth $201 million and made several other partnerships, including an extension with Under Armour that gives him an equity stake in the company.
The path to financial wealth rarely involves get-rich-quick schemes. Even saving or investing a small amount today can prove lucrative down the line. And when you have proven your worth—such as at a job or during a freelance relationship—don’t be afraid to ask for fair value.