Malcolm Lemmons Explains Money Misconceptions and the Importance of a Plan B

Wednesday, December 05, 2018

Worth Knowing/Malcolm Lemmons Explains Money Misconceptions and the Importance of a Plan B

Malcolm Lemmons Explains Money Misconceptions and the Importance of a Plan B


Today’s guest is Malcolm Lemmons. Malcolm was a professional basketball player that played overseas before transitioning to life as an entrepreneur. The time he spent overseas showed him the importance of athletes having a plan to transition to life after sports because there are very few athletes that aren’t going to need to find a way to earn an income once their athletic career is over.

Malcolm is the author of Lessons from the Game, a motivational speaker and the founder of Players Point Agency. His company works to help professional athletes, executives, and entrepreneurs expand and monetize their brand and influence.

Today Malcolm will share with us more about the misperceptions that society has about money. His mother was a doctor but as a single mother raising two boys in an expensive city she struggled to make ends meet. From her title people automatically assumed they were better off than they were. She worked hard, sometimes at multiple jobs, to make ends meet. People also assume that all professional athletes have bottomless pockets. After playing overseas Malcolm can tell you that it’s a whole different story. This is why it’s important to keep your focus on your own finances instead of what you “think” everyone else has.

In this episode, we discuss:

  • What life is really like as a college student athlete or professional athlete overseas
  • ​The importance of budgeting your money now so you can accomplish what you want in the future.
  • ​Why you need to focus on the opportunities and not the obstacles.
  • ​The importance of discussing finances strategy with your circle of friends.

Malcolm on Instagram:
Malcolm on Facebook:

Malcolm on Twitter:

Malcolm's Book:

Malcolm's Website:

Word of the Day: Loans

Loans - The act of lending or a grant of temporary use of something. The idea is someone gives you something and you’re supposed to give it back. The reason I picked this is we need to be really strict with our loan policy heading into 2019. Why? Friends and family don’t let friends and family have f’d up finances. If someone comes to you to ask for money we need to have conversations with them about finances instead of just handing money over. Let’s start talking to the people we care about their money issues and our own.

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Lauryn Williams

Hi, I'm Lauryn

Certified Financial Planner

Welcome to the Worth Listening podcast and blog where we focus on having positive and productive conversations about money.

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