Former NBA superstar J.R. Smith, known for his successful career spanning 16 seasons and two NBA championships, has recently expressed regret over his previous financial decisions. Smith candidly discussed his past spending habits on the “I Am Athlete” podcast earlier this year, admitting that he missed opportunities to make a more meaningful impact in his community.
Growing up in the working-class neighborhood of Lakewood, New Jersey, Smith got fame straight from high school when he was drafted by the New Orleans Pelicans in 2004.
Despite enjoying immense success and a fortune estimated at around $90 million from his NBA tenure, Smith revealed that he now recognizes the potential community benefits that were lost to his substantial financial expenditure on fines, high-end clothing, and lavish nightlife outings.
“I could have fed my whole community 10 times over with the money I was just [paying in fines for being] late on the bus,” Smith said. “You know how many people you can change [their] lifestyle with $10 million in our hood? We’d rather go throw $60,000 in the strip club…than go feed 2,500 people in the hood.”
J.R. Smith says he regrets his old spending habits, per @IAMATHLETEpod.
“I could have fed my whole community 10 times over with the money I was [paying in fines] for being late on the bus. We’d rather go throw $60K in the strip club than go feed 2,500 people in the hood.” pic.twitter.com/SPSPqN5pmh
— Legion Hoops (@LegionHoops) September 17, 2023
Smith recalled how much money he used to spend on clubs when he was younger, admitting that those funds could have served a philanthropic purpose, potentially transforming lives in neglected communities.
J.R. Smith begins a journey of personal growth and community advocacy
As Smith transitioned away from the league, he experienced a personal realization. Despite acquiring materialistic possessions and accolades, he felt a void, an absence of deeper personal fulfillment.
“I felt like I had everything,” Smith said. “but I still wasn’t whole with me, because I knew there was something missing.”
This awareness intensified after clinching his second NBA championship with the Los Angeles Lakers in 2020. Following his retirement later that year, Smith went on a journey to rediscover himself and contribute to society in a more significant manner.
Smith has since enrolled at North Carolina A&T State University, the nation’s largest Historically Black College and University (HBCU), to pursue a degree in liberal arts studies. Besides focusing on his academics, Smith also plays golf for the university, representing a new phase in his life.
The NCAA has cleared J.R. Smith to play golf for the NC A&T Aggies 👏 pic.twitter.com/vLP8y4Lm35
— Bleacher Report (@BleacherReport) August 24, 2021
Furthermore, he has become an advocate for financial contributions to HBCUs, stressing that substantial donations to these institutions can significantly change the lives of many Black students, offering them improved educational opportunities.
“We’re so trained, so embedded to have that Eurocentric mindset, to worry about myself, worry about me, worry about mine,” Smith said. “When you make over $100 million in your career, is [giving $5 or $10 million] going to change your lifestyle?”
By revisiting his past decisions, Smith hopes to influence the younger generation positively, encouraging them to adopt a more community-centric approach to wealth and success.