Shaquille O'Neal reveals plan for $1 million monthly payout
Shaquille O'Neal secured annuities years ago to guarantee $1 million monthly income starting in 2027.
(Photo via Business Insider)
NBA legend Shaquille O'Neal recently disclosed that he secured a series of annuities years ago to serve as a financial safety net. The former athlete stated that these financial instruments are designed to provide him with a guaranteed income of approximately $1 million per month.
O'Neal shared these details during an appearance on the Dinner Party podcast, where he discussed his long-term wealth management strategies. He noted that the payments are scheduled to begin in the spring of 2027, coinciding with his 55th birthday on March 6.
The decision to invest in annuities stemmed from advice O'Neal received regarding the importance of saving a significant portion of his earnings. He explained that he adopted a strategy of saving 75 percent of his income while utilizing the remaining 25 percent, a practice he implemented to ensure financial stability should his other investments fail to perform as anticipated.
During the podcast conversation, which included guests such as Alex Hormozi, Graham Stephan, Zach Justice, and Sharran Srivatsaa, O'Neal also touched upon his history of early investments, including a stake in Google. He further mentioned that he has established specific stipulations regarding the future inheritance of his children.