The move which saved Bogut's bank

Bogut's stellar NBA career began when the Milwaukee Bucks selected him with the first overall pick in 2005, making him the first Australian to ever be taken with the top selection.
He reached impressive heights throughout his 13 seasons in the league, but injuries cruelly hampered his time.
His list of injuries align more to someone involved in a car crash and limited him to 694 regular season games from a potential 1066.
If you break that down even further, that equates to 372 missed games which works out to 28.6 games per season and just under 35 per cent of the total season.
Despite all of that, Bogut built a mightily impressive resume throughout his time and will deservedly go down as one of the best to ever grace the hardwood for Australia.
The 33-year-old has now returned to the Australian shores after signing a two-year deal with the Sydney Kings and announcing his retirement from the NBA.
Bogut's time in the NBA started in Milwaukee where he quickly built a reputation as one of the leagues most feared defensive big men.
Over his career he had four finishes inside the defensive player of the year award, twice with the Bucks and twice while playing with the Golden State Warriors.
The average NBA career is a relatively short five-years, but Bogut stuck around for 13 and made a staggering amount of money over his journey.
NBA players have nowhere to hide as their salaries are made available to the general public, but despite the vast amounts they can earn, close to 60 per cent of players file for bankruptcy within five years of retirement and Bogut discussed the biggest factor behind where the money goes with Mark Howard.
'The number one factor is family, that'd be the number one,' Bogut said on the Howie Games podcast.
'Your family obviously helps you get there and they drive you around to junior sports and this and that. And you always feel that burden and guilt that you need to give back and you do to an extent, but the well is going to run dry eventually. You're going to have your kids one day and you're going to have your own family.
'The biggest thing I've seen with guys is they just have families who have open access to bank accounts and buy houses wherever they want and cars and constantly too.
'Stupid spending is another one, but the one that trumps that which nobody talks about is family and friends and that entourage of just handing out money.'
Players enter the league with an agent, but some never take the time to learn just what is going on with their finances. Bogut wasn't going to allow himself to fall into that trap.
'It would irk me going into meetings even though they would break everything down for me and ask if you don't understand anything let us know.
'I didn't understand most of like yields, ROI (return on investment) and all of this stuff, all of this financial jargon. So I went back and did a course at RMIT here in Australia, did it online and the course was called ‘Personal Wealth Management' which was perfect.
'I did a year course on that, I got credits for it but I couldn't give a crap about the degree I did it for bettering myself.
'When I was about 28 or 29 I told my financial adviser I don't need your services besides doing my taxes and he was pumped for me.'
Learning how to deal with your money is one of the biggest things players have to learn, as many are often handed a first pay check in the six-figure ranges as teenagers.
When people also know how much money you're earning, the amount of people who knock on your door will often grow and dealing with that is a huge part of managing the income according to Bogut.
'The biggest thing I learnt was being able to say no and be content with it. I've got no problems saying no now.
'Early on I struggled if somebody would ask me for money or to invest in a business, I couldn't just point blank say no.
'I'd um and ah over it or sometimes you'd end up giving a little bit just to see if you'd get anything back. That was actually a good ploy, I've had some family ask for money and I've leant them a little bit at times, not much just a few thousand, and you know the next time they ask you can say ‘you haven't paid back the last one'. You can kind of do it in a nice way.'
Bogut's savviness not only saw him become a prominent player throughout his career, but it helped him flourish off of the floor.
His signing with the Sydney Kings came with an extra bonus with the opportunity for him to have a 10 per cent ownership of the Kings when he retires, with an option to buy up to a 50 per cent share in the club.
It was Bogut's stellar play on the court which helped blaze the path for Australian basketball, but it may well be his words of financial wisdom that leave behind the greatest impact on future generations.
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