NHL G.O.A.T. Wayne Gretzky has always had a cautious approach toward money. The ice hockey legend followed his father’s financial advice of being simple and expecting less. As an austere person, Gretzky invests only in necessary things and avoids overspending. His children, however, do not feel the same way and often mock him for being conservative with his money.

Gretzky, with a net worth of approximately $250 million, believes that no one should change their way of living after being famous, because it “could end tomorrow”.

Wayne Gretzky has a mantra for money

The Great One gave his financial opinion in an article for Money Sense in 2012. When Trevor Gretzky signed a contract to play Major League Baseball with the Chicago Cubs, his father recalled his first real job playing under Indianapolis Racers. Just like Walter, the White Tornado was strict with Trevor’s first signing bonus saying, “It’s in the bank now, and you don’t get to touch it.”

Gretzky believed it was crucial to think about the future from the very first day of one’s career. Definitely, saving more than spending has always been the mantra for him.

Gretzky felt proud for being restrained with money. For him, “it doesn’t matter how much wealth you have, or how much you make in a particular year: you don’t change your way of living. Stay true to who you are. That’s how I’ve lived my life. I don’t drive a $100,000 car. In fact, my kids sort of laugh at my car, but I don’t mind. I still enjoy driving it”.

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Early in his career, Gretzky was not fully receptive to the idea. Though, when he hit his 60s he was glad to have had the best financial advisor with him, his father Walter Gretzky. In addition, the Great One wrote, “Time goes by quickly, and as I’d come to understand later in life, financial planning at a young age is critical for securing your future”. Doesn’t matter how attacking his game was, he always chose to be calm and thoughtful before investing money.

The center forward’s defensive approach

As an entrepreneur, restaurant and winery owner, and brand ambassador for TD Bank, Gretzky can proudly boast about some of his successful ventures. Gretzky feels his conservative attitude toward money prevented overspending and helped him to get success. Passing the same mentality onto his children, he feels it’s necessary for everyone to categorize expenses.

The Great One advised rookies to become old-fashioned in securing their money. His advice is certainly credible. No matter what, the Great One continues to flourish even after retirement. A G.O.A.T. indeed!

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