NBA rookie can’t touch his salary for three years

Michael Carter-Williams is off to a solid start with the 76ers.

It seems like we’re always hearing about a former professional athlete losing all of their money.

Well, apparently Philadelphia 76ers rookie Michael Carter-Williams has heard those stories, too, and doesn’t want that to happen to him down the line.

The Philadelphia Inquirer explains the steps he and his mother, Mandy Carter-Zegarowski have made to make sure he saves money:

Nowadays, Carter-Zegarowski and her best friend, Tracie Tracy, are running his management team. They are taking a proactive approach to make sure he doesn’t spend all his money in a couple of years.

His rookie contract guarantees him $4.5 million over his first two seasons. He could make a total of $10 million if the Sixers pick up the final two seasons of his contract.

But his salary is deposited into a trust he can’t touch for three years. Carter-Williams is living off endorsement deals with Nike and Panini trading cards.

Now that makes a lot of sense.