When Shaquille O'Neal was 20 years old, he signed his first NBA deal in 1992.
In about 45 minutes, he spent $1 million!
He bought a fancy Mercedes car for himself and one for his dad. He bought his mom a car too, and he paid off her house.
Then a rich white man told him a secret. Rich people stay rich because they save most of their money. They only spend a small part of it.
So Shaq made a rule for himself. Every time he got paid, he saved 75 cents of every dollar. He used the other 25 cents to have fun. He bought cars, jewelry, or anything he liked.
Shaq learned another secret from an old man. The man was about 80 years old and drove a Rolls-Royce, a very expensive car. Shaq asked him, "How did you get rich?" The man said one word Shaq had never heard before: "annuities." That means you put your money away now, and later it pays you back a little bit every month.
Shaq did it. He turns 55 in March. Shaq says that's when his annuities will start paying him $1 million every month!
Shaq played in the NBA for 19 years and made about $292 million. He still tells everyone to learn how annuity works.
