Former NBA star Charles Barkley reveals how Michael Jordan’s advice turned a $3 million endorsement deal into a lucrative investment in Nike stock options. Barkley’s Nike stake has grown by 4,000% since 1994, showcasing the power of equity over cash payouts. Young investors can learn from this strategy to prioritize growth over immediate cash flow.

To apply this lesson, consider using the Rule of 100 for age-appropriate asset allocation. By investing a larger portion of your income in stocks, like setting aside 15% of your paycheck, you can reach your financial goals faster. Acorns offers a unique way to invest spare change from everyday purchases, turning small amounts into significant savings over time.

For those seeking higher growth potential, consider focusing on growth stocks rather than traditional dividends. Platforms like Moby provide expert analysis to help investors find undervalued stock picks that could deliver significant returns. With a track record of outperforming the S&P 500, Moby offers a smarter approach to investing for young individuals looking to build wealth.

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Read more at Yahoo Finance: Michael Jordan gave Charles Barkley 1 financial tip that made him millions