Wayne Gretzky Received a Petty Gift From Father Walter After Signing His First Multi-Million Dollar Contract in 1978

Bucking up wads of green is only the inception to the life of a millionaire. In the long run, the trick is to make smart investment choices. The ice hockey legend Wayne Gretzky still owes a majority of his achievements along multiple verticals to his father-turned-mentor Walter Gretzky—one of the most significant lessons being how to save up and put money in the right places. Time and again, Gretzky Jr. traces his life back to his father and in a past interview, he was rekindled to prompt a candid discussion when asked about his finances.

In a panel discussion organized by TD Bank Canada, the hockey legend recalled an incident that taught him a valuable lesson. So, when the star signed a huge amount of money, his father’s advice immediately came to his aid. How did Gretzky deal with allocating and saving up money? Read on to find out!

Frugality and finances: Wayne Gretzky recalled his father’s lessons

Back in 1978, a hockey legend rose to fame. Wayne Gretzky signed his first contract with the World Hockey Association’s Indianapolis Racers. This not only kickstarted his professional career, but teen Wayne also needed to look after his earnings. With a whopping $250,000 signing bonus, the star soon realized that his dad would have to step in to help.

Speaking at the panel, Gretzky recalled how his father grew up conservatively while spending frugally whenever possible. This was something that the legend would learn and implement in his own life. While others might go on a spending frenzy on receiving such a huge amount, Gretzky was steered the other way.

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Back in the day, the star needed a car to travel around. When he asked his father to lend him some money from the signing bonus, his father forwarded a check worth only $5000 to his son. However, learning from his father, Wayne Gretzky decided to save some of the allocated money. He recalled, “He wrote me a cheque for $5,000 and said ‘go get whatever you want.’ I got a used Trans-Am for $3,800.”

Over the years, the star maintained his stance on his spending and saving methods. He shared a heartwarming relationship with his father, Walter Gretzky, who was an employee at a telecommunications company. The duo respected each other, and Gretzky Sr. even built a rink in the backyard of their house so he could watch his son skate. Despite signing a multi-million dollar deal, Wayne Gretzky never let go of his frugal ways. And he had his father to thank for that.

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