"I've got some people that have been advising me for the last thirty years. Im set. I know to save my money and I know how to make money."
There have been a lot of stories lately about former Basketball players who once made millions…but who are now broke. Reid says it's because they're young and foolish with their money.
"For all these young men who are getting ready to make millions of dollars, I would sit them down and I'd have wendy's mcdonalds, burger king, ihop and target applications. That's minimum wage. If you can't fill out an application to get a minimum wage job, how can I trust you with fifteen million dollars in your pocket."
Reid says some young players these days waste their money on so called friends who won't be there for them when the money is gone. He says they also waste it on jewelry and cars.
"You comin in there with five cells phones. You coming to practice by yourself but when practice is over with you see four of your cars out in the parking lot. (Bill is that true?)"
"Yes, Their boys. Their boys go to his house, gets his car and meets him at practice."
On a separate topic, I asked both men what they think of the tattoos that have become so prevalent in the league these days. Reid answers first.
"It is ugly. The fans are not paying to see markings on your body. You're one step away from looking like a gangster in the prison."
"Like I told my sons, if they ever put on a tattoo if you ever get around me I hope you'll be able to wash it off. You don't need no tattoos because when you go into corporate America to work, then people are going to say why do you have all these tattoos on."
The basketball clinic is free for the kids. None of them were even born when Reid and Malone played pro ball. In fact Reid says he often feels old when a father comes up to him with his son and asks for his autograph, telling Reid he used to watch him back when he was in third grade. Reid and Malone are both 55. Their kids are grown, they've got money and they say they're just enjoying life.
Bill Stamps, KUHF News.