Joe Smith was left only with $3000 despite making over $61 million in the NBA
Joe Smith played for 12 teams in 16 seasons in the NBA. Among the teams he played for were the Golden State Warriors, Minnesota Timberwolves, LA Lakers, Milwaukee Bucks, Denver Nuggets, Chicago Bulls and Philadelphia 76ers. He retired following the 2010-11 season after a one-year stint with the Lakers with career earnings of $61 million. After agent fees, taxes and other deductions, he roughly had $18 million in his pocket.
In a recent interview with Vlad TV, Smith admitted to having just $3,000 a few years into his retirement. Additionally, he was also heavily in debt with a few people that totaled approximately $157K. His situation was a big reason why he fell into depression, a condition that only worsened his financial status:
(3:45 mark)
“It’s a very low point. When I say I was in a deep, deep, depression, like mentally messed up? I’m telling you, I was there.”
Back in 2018, Smith was in CNBC’s show called “Back in the Game” which featured baseball legend Alex Rodriguez. In the pilot episode, Rodriguez did his part to help the No. 1 pick of the 1995 NBA Draft.
The $18 million was more than most people will earn in their lifetimes. Joe Smith was set for life, but he couldn’t control his spending. One of Smith’s biggest mistakes was buying a house in every city he was playing for. Offloading them when it was time to move on badly hurt his finances.
While retired, the former Denver Nuggets star also had several luxury vehicles, including a Corvette and a Bentley. Smith’s financial crisis forced him to hold basketball clinics for 10-15 hours per day. The money he earned from that gig was nowhere near what he and then fiancee Kisha Chavis had been spending.
Joe Smith was already in financial trouble before he married Kisha Chavis
Kisha Chavis said in an interview that she married Joe Smith because she thought that he would be “great” and that they would “take off.” The two, however, were in financial trouble before they decided to tie the knot.
When the CNBC show was filmed in 2018, they were reportedly earning roughly $26K per year, a far cry from Smith’s days in the NBA. Their way of living, which included the aforementioned luxury vehicles and a massive house in Atlanta cost approximately $130K.
In the interview with Vlad TV, Joe Smith claimed that once the CNBC show was over, he was left out to dry. He couldn’t get hold of the people who promised to help him get back on his feet. The former Detroit Pistons player’s life is looking worse than ever.
Kisha Chavis, his wife, has an OnlyFans page to help them with the financial crisis. She does not intend to stop until Smith comes up with something new. The two could be headed for a divorce if things don’t settle down between the two.