Retired pro basketball players educate athletes on financial literacy

Two retired professional basketball players started a business to teach financial literacy to other athletes.
INGLEWOOD, Calif. (KABC) -- Two retired professional basketball players started a business to educate their community, including helping other athletes.

William Clark and Matthew Shaw wanted to come up with a way to give back, which is how they decided to start The Lab in April, which stands for "Life After Basketball."

"Through my experiences of playing overseas, I realized that a lot of athletes and a lot of people in our community don't have the exact education that we need the financial literacy that we need," Shaw said. "Or the foundation that we need to, to build and prepare for our future."

Clark and Shaw are both natives to the Inglewood area. Through The Lab, they educate others on financial literacy, something they said they saw a need for.

"The Lab is here to just really spread the word and educate people and get them financially literate," Clark said. "Because it's not provided in the schools."

The goal of the lab is to prepare athletes for after the ball stops dribbling, but they don't just help basketball players.

As a client of The Lab, Jourdan Demuynck said he learned a lot about financial literacy and how to prepare for his future, such as how to invest his money and how to save.

"I'm the first to go to college, play sports overseas," Demuynck said. "I never had anyone teaching me anything like that and I would be so grateful if I was able to have something like The Lab coming into my rookie season."

John Rodriguez, the chief marketing officer, for The Lab said it makes sense to start in Inglewood calling the city the heart of LA.

"It just makes sense to start right here in Inglewood," Rodriguez said. "We're here to help and provide greater peace of mind so our families can thrive and our communities continue to grow."

While The Lab is based in Inglewood, they help clients anywhere. To learn more about The Lab you can visit the website.

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