Four-time NBA all-star Vin Baker acquired nearly $100 million throughout the course of his career. The 43-year-old now works as a Starbucks barista in Rhode Island after struggling with alcoholism and losing it all, a story that comes as a shock to many. According to Dr. Boyce Watkins, the worst part is the fact that his children, their children and so on and so forth will now have to start over entirely. "100 million dollars - having that kind of money and having that money go out of your hands, that's just a financial tragedy of epic proportions," the social commentator expresses to us.

"You have to work really, really hard to waste 100 million dollars. I mean, you've just got to be beyond financially sloppy - you've got to be financially self-destructive," he continues. Dr. Boyce Watkins believes the large sum of money in question should have aided Baker and his loved ones "for the next 300 years," and knows it would have had the former baller set up trust funds and sought the help of financial advisors.

Surely entertainers and athletes with money can spend their earnings on "European brands that don't wanna hire Black people," the "People's Scholar" states, but he strongly advises said celebrities to save a certain percentage of their income monthly. Listen above as Dr. Boyce Watkins provides simple guidelines in order for one to be financially stable in the future.

Dr. Boyce Watkins recently created the 5-week online Black Wealth Bootcamp, a program created "to teach business creation and wealth-building strategies." Learn more about it here.