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Shaq's Annuity Secret: $1M Monthly Income Ahead
8 Nov
Summary
- Shaq will receive $1 million monthly starting next year.
- He invested in annuities as a financial safety net.
- Shaq requires his children to have multiple degrees for inheritance.
Basketball legend Shaquille O'Neal is set to receive a substantial financial windfall, with an annuity poised to pay him $1 million per month starting in 2027. This income stream is the result of a decision made years ago to invest in annuities as a fail-proof safety net for his fortune.
O'Neal shared this revelation on the "Dinner Party" podcast, detailing how he sought advice from a wealthy individual who advocated for saving a significant portion of one's income. Following this advice, O'Neal began saving aggressively and later invested in annuities to secure future income.
He anticipates this annuity will provide a considerable income for the remainder of his life, beginning when he celebrates his 55th birthday next spring. O'Neal also discussed his approach to his children's inheritance, emphasizing that they must earn multiple degrees to access his wealth, reflecting his own academic achievements.
Additionally, O'Neal recounted a past opportunity to invest in Google before its public offering, which proved to be a "nice big hit," although he humorously noted that he lost the gains in his 2009 divorce.
