Money

21-year-old NBA star earning $6 million a year has one $10,000 regret

Ben Simmons of the Philadelphia 76ers
Mitchell Leff | Getty Images
Ben Simmons of the Philadelphia 76ers

Ben Simmons was the No. 1 overall pick in the 2016 NBA draft.

The Australia native signed a three-year, $18.5 million contract with the Philadelphia 76ers, which puts his average annual salary at about $6.17 million. Plus, the basketball star signed a lucrative sneaker deal with Nike.

So Simmons' financial life changed in a big way once he started playing for the 76ers, which he recently discussed with Maverick Carter on an episode of "Kneading Dough."

When Carter asked about the purchase he regrets the most since becoming a millionaire overnight, Simmons didn't have to think for too long: "I had two Savannah cats. … It was a bad purchase."

One cost him $4,000. The other set him back $6,000.

While 10 grand is a lot, that's just half of what NBA star Draymond Green spent on what he says was the most regrettable purchase of his life: "A $21,000 night in the club," he told Carter in a separate episode of the video series.

Now, Green says, when it comes to spending money, he always considers his long-term goal, which is to be a billionaire by 40: "Every day, every decision I make is, 'How is this helping me become a billionaire?'"

Simmons has also taken steps to become smarter about how he manages his money. The best business decision he's made in his young career so far has been "firing my first financial advisor," he said.

And if you're wondering, Simmons no longer has the cats, he told Carter: "They were crazy."

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