360° Coverage : John Havlicek: To Retire Well, Invest From Day One

2 Updates
John Havlicek: To Retire Well, Invest From Day One

John Havlicek: To Retire Well, Invest From Day One

Feb 14 2014, 9:08am CST | by

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...

Filed under: news

 
 
 

35 weeks ago

John Havlicek: To Retire Well, Invest From Day One

Feb 14 2014, 9:08am CST | by

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

 
Update
2

7 weeks ago

Khazanah throws MAS RM6b lifeline

Aug 29 2014 5:01pm CDT | Source: Business Times Singapore

August 30, 2014 1:15 AMKHAZANAH Nasional will inject RM6 billion (SS$2.4 billion) over three years to resuscitate loss-making Malaysia Airlines (MAS) under a recovery plan that includes even an Act of Parliament. Other key moves are migrating its operations, assets and liabilities to a new company (NewCo) ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

8 weeks ago

MAS posts loss of RM307m for Q2

Aug 28 2014 5:00pm CDT | Source: Business Times Singapore

August 29, 2014 1:13 AMMALAYSIA Airlines (MAS) registered a loss of RM307 million (S$122 million) for the second quarter to end-June, but warned of worse to come in the second half when the "full financial impact of the double tragedies of MH370 and MH ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

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

US Healthcare worker tests positive for Ebola
New York, Oct 24 (IANS) A healthcare worker in New York, who had returned form Guinea last week, has tested positive for Ebola, media reports said.
 
 
India stands firm on objections to WTO Doha Round deal
United Nations, Oct 24 (IANS) Even as the World Trade Organisation's trade deal remained stalled due to India's objections, an Indian envoy at the UN stood firm on them, declaring a "permanent solution on food security with necessary changes in World Trade Organisation (WTO) rules, if required, is a must and cannot be kicked down the road".
 
 
India firm on objections to WTO Doha Round deal over food security
United Nations, Oct 24 (IANS) Even as the World Trade Organisation's trade deal remained stalled due to India's objections, an Indian envoy at the UN stood firm on them, declaring a "permanent solution on food security with necessary changes in World Trade Organisation (WTO) rules, if required, is a must and cannot be kicked down the road".
 
 
Twitter declares war on passwords
San Francisco, Oct 24 (IANS/EFE) Twitter formally declared war on passwords during a developers' conference in San Francisco, unveiling a new system that allows users to log-in to mobile apps with a phone number.
 
 
 

Latest from the Network

Second MERS case reported in Qatar
Doha, Oct 23 (IANS) A 43-year-old man in Qatar has tested positive for Middle East Respiratory Syndrome (MERS) in the second confirmed case of the deadly virus in 10 days, media reported Thursday. The patient had...
Read more on Business Balla
 
Two people die in Pakistan bomb blast
Islamabad, Oct 23 (IANS) At least two people were killed and 12 others injured in an explosion that took place in Pakistan's Balochistan province Thursday, media reported. The bomb was planted on a motorcycle, Dawn...
Read more on Politics Balla
 
Trott extends contract with Warwickshire till 2017
London, Oct 23 (IANS) England batsman Jonathan Trott, whose mental issues led to his abrupt departure from last winter's Ashes tour, has confirmed his successful comeback to competitive cricket by signing a new three-...
Read more on Sport Balla
 
Srikanth, Kashyap big movers in BWF rankings
Kuala Lumpur, Oct 23 (IANS) Indian men shuttlers Kidambi Srikanth and Parupalli Kashyap jumped seven places each in the latest Badminton World Federation (BWF) rankings released Thursday while Olympic bronze medallist...
Read more on Sport Balla
 
Alvin Stardust dead
London, Oct 23 (IANS) English singer Alvin Stardust died after a short illness. He was 72. Stardust's manager confirmed the news about his demise Thursday, reports mirror.co.uk. He was recently diagnosed with...
Read more on Celebrity Balla
 
Indian man reunited with family after 40 years
Dubai, Oct 23 (IANS) An Indian man, who had disappeared from his hometown in Kerala nearly 40 years ago, has been found by his family at a hospital in Dubai in the UAE, a newspaper report said. Now in his 60s, Abdulla...
Read more on Politics Balla
 
Srikanth, Kashyap, Saina rise in world rankings
Kala Lumpur, Oct 23 (IANS) Indian men shuttlers Kidambi Srikanth and Parupalli Kashyap jumped seven places each in the latest released Badminton World Federation (BWF) rankings Thursday while Olympic bronze medallist...
Read more on Sport Balla
 
Flintoff signs for Big Bash side Brisbane Heat
Brisbane, Oct 23 (IANS) Former England captain and all-rounder Andrew Flintoff, who retired from international cricket in 2009, Wednesday confirmed that he will play for Brisbane Heat in the Big Bash League (BBL) this...
Read more on Sport Balla
 
OPEC daily basket price falls again
Vienna, Oct 23 (IANS/WAM) The basket of 12 crude oils of the Organization of Petroleum Exporting Countries (OPEC) closed at $81.94 a barrel Wednesday compared to $82.09 Tuesday, the OPEC Secretariat said. The new OPEC...
Read more on Business Balla
 
Lopez to sign multi-million dollar deal?
Los Angeles, Oct 23 (IANS) Singer-actress Jennifer Lopez is reportedly in the final stages of securing a multi-million dollar deal to perform in Las Vegas. The 45-year-old is being offered $350,000 per show at The...
Read more on Celebrity Balla