IF you take it at age 50, the NBA pension for eligible players (AIUI having been under contract at some point in at least 3 seasons) is ~$800/month for each season played (so minimum $2400/month). That's nothing to sniff at, but it isn't "never work again" money for someone who played a few years in the league (and many probably don't make it 3 years). Among other things, there's the 20+ years between when you stop playing and when you can take the pension to pay for.