In the 1995 NBA Draft, Kevin Garnett was selected by the Minnesota Timberwolves as the fifth overall pick, beginning a legendary career that would span more than 20 years. However, in those early years, KG made an unbelievable decision about how to handle his newfound wealth.
“I was coming from Chicago… I was kind of raised with a certain pedigree and mindset, so I wasn’t introduced to wires or just fintech. I wasn’t financially savvy. I didn’t know about direct deposit. I didn’t know none of this,” Garnett acknowledged during an interview on Jimmy Kimmel Live in 2021.
In that context, Kevin developed an unconventional habit of managing his money. “So, when I would get my check, I’d go cash it, and, you know, bring it home and I would put it under my mattress,” he revealed. “So I did this for two years.”
Garnett encounters unexpected problems
For a time, this method of handling his finances seemed to work for Kevin Garnett. However, as time went on, he encountered complications that ultimately forced him to rethink his strategy.
“I had a girlfriend at the time, and the only thing I would say is, ‘Look, if you take money off the head, just put an IOU under there so I know that. And then when you put money here, I know how it was looking when I put it on here, and I put it down,’” he explained. “I had a system for this, so when I raised the mattress and saw the money was different, I knew somebody had been in here.”
As it turned out, this system wasn’t foolproof. “Shortly after, I broke up with that female. I looked under the mattress and I had a bunch of IOUs,” Garnett recalled, laughing. “That was when I realized—it’s time to put this in the bank.”
Garnett becomes a fortune-maker in the NBA
Once Kevin Garnett put his early financial missteps behind him, he went on to build a wildly successful NBA career, becoming one of the league’s most decorated players and earning a fortune for his performances on the court.
According to HoopsHype, Garnett earned just over $5 million in his first three years as a professional player. But once he became a cornerstone for the Timberwolves, his salary skyrocketed, reaching $28 million in the 2003-04 season when he was named NBA MVP. When you factor in his earnings with the Timberwolves, Boston Celtics, and Brooklyn Nets, Garnett accumulated an astounding $343,862,398 in career earnings.