Team Frugal: Trevor Booker
Being frugal is about more than being stingy with your money. It means being prudent, smart and economical with your finances and career decisions. Every Tuesday, we share profiles of athletes that exemplify what it means to be A Frugal Athlete.
You ever heard the saying, don’t put all your eggs in one basket. Try telling that to the common athlete who has been dreaming all their life to make it to the professional level. As an athlete you are thinking about how you can make plan A work. For some like Trevor Booker currently of the Brooklyn Nets, it's about seeing the bigger picture and about having options.
Understanding basketball won’t last forever, Booker has unleashed his entrepreneurial side and created a very large business portfolio with interests in over 15 companies.
Booker credits his experiences in the NBA watching other players squander money away with no return as a reason for his business ventures and investments.
Booker being the serial entrepreneur he is also understands the importance of balancing risk vs reward. He claims that although he wanted to jump right into to investing and building his portfolio, he had to build from within first. That means his safety net, his knowledge, and his team. His best friend and partner, Jonah Baize, is involved in all his deals which helps add that level of security for him.
Trevor Booker also acknowledges his position in the NBA and uses it to his advantage. Having the ability to meet with so many different business people and companies, it’d be foolish for him not to take advantage. He constantly visits different companies and
Booker is a great example of a player who understands his position in the league. That has allowed him to take advantage of his platform by creating a plethora of options for himself post career. The most important take away is that he built his foundation first by creating a safety net and stable ground of knowledge before venturing out.