John Havlicek: To Retire Well, Invest From Day One

Feb 14 2014, 9:08am CST | by

John Havlicek: To Retire Well, Invest From Day One

Pro basketball didn’t pay as well back in the 1960s as it does today, but from the start of John Havlicek’s rookie year with the Boston Celtics in 1962 he started investing a portion of his $15,000 salary.

He told his financial advisors at the David L. Babson Company he didn’t care about a return right away, but that he wanted to own blue-chips that would keep growing.

“I didn’t play the game of taking it out every time the market went down,” says Havlicek. In that same vein, he bought into his friend Dave Thomas’ nascent business of Wendy’s restaurants in the early 1970s.

“When he was starting out, they promoted some of our exhibition games,” Havlicek explains. One of the earliest Wendy’s restaurants was within a mile of the basketball star’s Ohio home. He wound up picking up three franchises in Westchester County, New York that he owned for more than three decades until selling them in recent years.

He also bought a piece of Lakeview Farms, an Ohio-based food company specializing in dips and desserts that he still represents at occasional trade shows.

Today, Havlicek has stepped back from business, but he still keeps an eye on his finances, meeting with his advisors regularly to make sure his money is still growing in between rounds of golf, visits with his 7 grandchildren and fishing jaunts like the annual tournament he hosts for the Genesis Foundation in Martha’s Vineyard to support children born with disabilities and genetic disorders.

The tournament attracts sports stars and celebs with ties to the Boston area, where Havlicek played his entire 16-year career for the Celtics, who retired his #17 jersey in 1978, six years before he was elected to the Naismith Basketball Hall of Fame.

Follow @SchaeferStreet

Source: Forbes Business

 
 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

After Game One Win, Warriors Playoff Tickets Are Now Most Expensive In U.S.
With their dramatic game-one road win against the Clippers, the Warriors have the upper-hand in the battle for California basketball.  If they can advance, it will be the only the third time in the last twenty years...
 
 
Nous Infosystems and SmartBear Software Enter Strategic Partnership
Nous SmartBear Partnership to Establish Offshore Center of Excellence (CoE) in Bangalore Expanding Global Reach of SmartBear’s Automated Testing Tools
 
 
EVO Payments International and PAY.ON Partner on Quick Interface for SME Merchants
PAY.ON, the world’s leading operator of web-based, omnichannel payment infrastructure systems, and EVO Payments International (EVO), a leading card payment acquirer and payment service provider in the United States.
 
 
ICT Investment Trends in China - Enterprise ICT Spending Patterns Through to the End of 2015
Marketreportsonchina.com presents a report on “ICT investment trends in China - Enterprise ICT spending patterns through to the end of 2015” which offers the most up-to-date market data on the actual market situation, trends and future outlook for ICT investment trends in China.
 
 
 

Latest from the Network

After Game One Win, Warriors Playoff Tickets Are Now Most Expensive In U.S.
With their dramatic game-one road win against the Clippers, the Warriors have the upper-hand in the battle for California basketball.  If they can advance, it will be the only the third time in the last twenty years...
Read more on Business Balla
 
Enterprises TV to Air Segment on Reducing Business Travel Costs
Coral Springs, FL, April 20, 2014 --(PR.com)-- The producers of Enterprises TV are pleased to announce they are working on a segment focusing on business travel costs and how some companies are reducing them. As...
Read more on TV Balla
 
3 Month BJJ White Belt Fundamentals Course with Master Marco Alvan
Springfield, MA, April 20, 2014 --(PR.com)-- Come and find out how to learn Brazilian Jiu Jitsu in a fun, relaxed environment. Team Link in Ludlow, Massachusetts will be holding 3 month BJJ course designed...
Read more on Sport Balla
 
Bcut Productions Presents "The Hilltop Barbershop" Movie Premiere
Springfield, NJ, April 20, 2014 --(PR.com)-- Bobby and his friends take you on a comical ride as the owner of Bobby&#39;s Cut above barbershop. The story takes you into the real world of the barbershop and the...
Read more on Movie Balla
 
Nous Infosystems and SmartBear Software Enter Strategic Partnership
Bangalore, India, April 20, 2014 --(PR.com)-- SmartBear Software, the leading provider of software quality and performance management tools, and Nous Infosystems, a global IT organization offering quality software...
Read more on Business Balla
 
EVO Payments International and PAY.ON Partner on Quick Interface for SME Merchants
Munich, Germany, April 20, 2014 --(PR.com)-- PAY.ON, the world&#39;s leading operator of web-based, omnichannel payment infrastructure systems, and EVO Payments International (EVO), a leading card payment acquirer and...
Read more on Business Balla
 
ICT Investment Trends in China - Enterprise ICT Spending Patterns Through to the End of 2015
Navi Mumbai, India, April 20, 2014 --(PR.com)-- The ICT investment trends in China report published by Kable Global ICT Intelligence presents the findings from a survey of 131 Chinese enterprises regarding their...
Read more on Business Balla
 
Uneecops Announces New Manufacturing ERP Software Release
Delhi, India, April 20, 2014 --(PR.com)-- Uneecops, preferred SAP Business One partner in Delhi has announced the release of a new Manufacturing ERP software. This new model aims to bring a new level of...
Read more on Business Balla
 
Intelligent Transportation System Market (ITS) is Expected to Reach USD 30.2 Billion by 2019: Transparency Market Research
Albany, NY, April 20, 2014 --(PR.com)-- The demand of Intelligent Transportation System Market is rising globally due to increased congestion in metropolitan areas. Development and deployment of intelligent...
Read more on Business Balla
 
Lucintel’s Analysis of Growth Opportunities in Global Non-Destructive Testing Equipment Market: APAC to Record Highest Growth through 2018
Irving, TX, April 20, 2014 --(PR.com)-- The global non-destructive testing (NDT) equipment market registered good growth from 2007 through 2012.The market is forecast to reach $2.052 billion by 2018, continuing its...
Read more on Business Balla
 
 
Auto Balla Sexy Balla Sport Balla TV Balla Politics Balla Movie Balla Apple Balla Business Balla Ad Balla Celebrity Balla