The first National Basketball Association (NBA) In-Season Tournament wrapped up over the weekend and the winners all took home $500K. Each rostered player earned $500K winners bonus. There were a couple memes out there with player reactions to the cash up for grabs. Some were overtly pointing to the Vegas experience that could await.
My mind went to how a winner could put that cash to work for them and it went immediately to the MVP of this inaugural event, LeBron James. James famously spends millions of dollars on his performance ecosystem each year. Personal trainers, chefs, recovery, drivers, agents, support staff among others that James employs to help him maintain peak condition. 22 years in and being in the discussion for best active player in the game today defies all the odds.
Back to what to do with the cash prize from the In Season Tournament. Invest in yourself. Hire a chef. Hire a trainer. Hire a sports psychologist. Invest in tools for recovery or strength training. Invest in the team around you. This is an opportunity to up your game. An unexpected bonus can pay dividends in the long term if you consider ALL the options before settling for an epic weekend or a big ticket purchase.
This goes beyond professional athletes. If you got a bonus at work, come into unexpected money - - would you invest in yourself to prepare for the future or position yourself for the next opportunity? Or would you splurge on a car, watch, vacation? None are wrong answers, but it is certainly worth a pause to think about.
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