Forums
New posts
Search forums
What's new
New posts
New media
New media comments
New resources
Latest activity
Media
New media
New comments
Search media
Resources
Latest reviews
Search resources
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Forums
Open Football Discussion
Green Bay Packers Fan Forum
Blake Martinez
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="Heyjoe4" data-source="post: 978285" data-attributes="member: 13032"><p>His agent's fee is probably 10%, but I'm guessing. The max federal tax bracket is 37% and it's likely he's paying that on most of his income. So that 47% gone right there. And then there are state taxes depending on the state that can add another 5% in WI. In CA it's 13%. In some states it's zero. He was in NY when he made most of his money and I don't know their state tax. It's probably high.</p><p></p><p>Even if all of that is right, it still leaves him with $10-15 mil plus or minus. So much depends on how much these guys save versus going nuts and buying multi-million dollar homes. It's always better, even for these guys, to live within their means (plus a little extra - like a reasonably upscale home and a luxury car or truck) and invest wisely. Even $5 mil invested wisely at age 28 for 30 years can turn into a real fortune.</p><p></p><p>The point is that big money can go away fast. Throw in a divorce without a prenup and that's 50% gone to your ex-spouse, not including any child support. Unchecked spending on luxury goods beside a car. It's just a reality check. $30 mil is not really $30 mil.</p></blockquote><p></p>
[QUOTE="Heyjoe4, post: 978285, member: 13032"] His agent's fee is probably 10%, but I'm guessing. The max federal tax bracket is 37% and it's likely he's paying that on most of his income. So that 47% gone right there. And then there are state taxes depending on the state that can add another 5% in WI. In CA it's 13%. In some states it's zero. He was in NY when he made most of his money and I don't know their state tax. It's probably high. Even if all of that is right, it still leaves him with $10-15 mil plus or minus. So much depends on how much these guys save versus going nuts and buying multi-million dollar homes. It's always better, even for these guys, to live within their means (plus a little extra - like a reasonably upscale home and a luxury car or truck) and invest wisely. Even $5 mil invested wisely at age 28 for 30 years can turn into a real fortune. The point is that big money can go away fast. Throw in a divorce without a prenup and that's 50% gone to your ex-spouse, not including any child support. Unchecked spending on luxury goods beside a car. It's just a reality check. $30 mil is not really $30 mil. [/QUOTE]
Insert quotes…
Verification
Post reply
Members online
Schultz
tynimiller
scheeler
Heyjoe4
The General
Firethorn1001
Don Barclay
Latest posts
H
2024 Draft Prospect Discussions
Latest: Heyjoe4
5 minutes ago
Draft Talk
2024 Draft-- Media Stuff
Latest: tynimiller
7 minutes ago
Draft Talk
H
Trade Up Targets
Latest: Heyjoe4
27 minutes ago
Draft Talk
Backed Into A Corner?
Latest: PikeBadger
30 minutes ago
Green Bay Packers Fan Forum
2024 Salary Cap as related to Free Agency
Latest: tynimiller
36 minutes ago
Green Bay Packers Fan Forum
Forums
Open Football Discussion
Green Bay Packers Fan Forum
Blake Martinez
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…
Top