Originally Posted by Prison Bitch:
I’ve thight about making my posts here premium for-pay content
Pretty smart actually.
If you save the money you make from that and put it somewhere where it earns decent interest, in less than 10 years you could probably pay for a small bottled water. Free and clear. [Reply]
Originally Posted by displacedinMN:
If you are smart- 41 mill can last a long time.
I don't think you even have to be that smart.
I like thinking about what they really have, though. If he earned $41.4 million, then the agent takes 3 percent off the top, so that puts him at $40.1 million
Lose 45 percent to taxes, and his take home is at about $22.1 million.
He was in the league for 7 years, and let's assume that he lived comfortably but conservatively at $500,000 per year. Let's also assume that he did the traditional $500,000 or so in family gifts as a first-round draft choice. So that takes him down to $19.1 million.
Assume that he was investing that money wisely but conservatively at a 6 percent return. Making a few assumptions, he's now packing up his boxes and catching an uber home with about $24.1 million in the bank.
At this point he does the conservative retirement move, and he takes out 4 percent of that amount every year.
He'll be making about $965,000 a year for the rest of his life.
And, who knows... he can sit back, do nothing and with the state of QBs around the league, some team can always give him a call if they're late in the season and in a bind. He'll always have this.
