Former NBA Player Tristan Thompson Says Young Players Make Millions Fast But Know 'Nothing About Finance' — 'You Probably Can't Even Spell Audit'

June 20, 2026 - 09:06

Retired NBA player Tristan Thompson says sudden wealth can come with decisions young players are not ready to make. Many are handed life-changing money before they fully understand how professional basketball money works, Thompson said last month on the "One On One with Kris Fade" podcast.

"When you grow up in inner city, you don't know nothing," he told podcast host Kris Fade. "They don't teach you nothing about finance. You don't know how to pay your tax. You don't even know checks and balance."

Thompson, who played 13 seasons in the NBA and won a championship with the Cleveland Cavaliers in 2016, pointed out that young athletes often sign multi-million dollar contracts without any background in managing large sums of money. He said many players cannot even read a basic financial document or understand what an audit involves.

"You probably can't even spell audit," Thompson added. "You just see the money hit the account and you think it's never going to run out."

The former forward stressed that the league and players' union offer financial education programs, but many rookies ignore them. He said the excitement of signing a big deal often overrides any caution. Thompson also noted that family members and old friends often come asking for money, putting additional pressure on young players who have no experience saying no.

Thompson's comments reflect a well-known issue in professional sports. Numerous former players have gone bankrupt or faced serious financial trouble after retirement. The average NBA career lasts only about four and a half years, meaning the high earnings do not last long for most players.

Thompson urged young athletes to hire trusted financial advisors and take time to learn the basics of money management before spending. He said the lifestyle of an NBA player can be tempting, but without financial knowledge, the money disappears faster than it came.