Core Theme: How a middle-class Wisconsin upbringing, strong family values, and an athlete’s mindset of consistent small improvements shaped Steve Novak’s approach to money, lifestyle, and giving back — and kept him far away from the “broke ex-athlete” stereotype.

Key Takeaways from the Conversation:

1. Grounded Upbringing as the Anchor
   • Grew up in Brown Deer, WI (middle/lower-middle class); dad was a teacher/coach, mom a nurse.
   • Saw bigger houses and nicer cars as a kid → early motivation that real wealth required success without debt.
   • Even after making NBA money, never felt the need for a mansion. Bought a normal house in Whitefish Bay (“looks like all the other houses”) and still lives a relatively modest lifestyle.
2. Financial Philosophy = Athletic Mindset
   • Translated his shooting training mantra (“get 0.1% better every day”) into investing.
   • Very conservative investor: prioritizes steady compounding over home-run bets or crypto.
   • Learned the hard way with a few bad private deals/restaurants → “losing money felt worse than winning felt good.”
   • Focus: never move backward; small, consistent forward progress compounds over a 50+ year post-basketball timeline.
3. Lifestyle Choices
   • Played on 9 teams, lived in Houston, LA, NY, Toronto, etc. → realized Milwaukee/SE Wisconsin is one of the most underrated places to live and raise a family.
   • Chose walkable, community-oriented neighborhoods (Whitefish Bay) over sprawling estates.
   • Family now owns two homes in Wisconsin (North Shore + Lake Country) instead of the typical athlete Florida/Arizona second home — “Wisconsin summers are the best in the world.”
4. Giving Back & Full-Circle Moment
   • Dad coached generations of kids → Steve now runs shooting clinics all over SE Wisconsin, passing on the “aha” moments he had after thousands of hours in the gym.
   • Wants the next generation to say, “Steve taught me footwork and motivated me.”
5. NBA Financial Realities & Lessons
   • Rookie paycheck shock, royalty checks with no withholding, surprise tax bills when income jumps, jock taxes, escrow, etc.
   • NBA’s unusually generous 401(k) match (up to 150%) and bridge annuities show the league/NBPA actively try to protect players.
   • Mandatory financial-literacy meetings ($10k fine if you skip) — education is there, but players still have to act on it.
6. Current Life
   • Just hired as Walt “Clyde” Frazier’s backup Knicks broadcaster (full-circle: New York was where he played his best ball).
   • Still lives in Milwaukee; kids cheer for both the Bucks and Knicks.

Bottom Line (in Steve’s words):
“Don’t try to hit home runs. Just keep the money you worked hard for moving 0.1% in the right direction every day, make it last a long time, and don’t end up on a ‘broke’ documentary.”

A refreshingly grounded, Midwestern take on wealth from someone who’s seen both the NBA flash and the long-term reality — and consciously chose the latter.