Wright and Alvarado Pre-Draft Activities

LibertyTurns

LibertyTurns

Banned
Messages
6,216
g0lftime said:
Just make the roster. The minimum salary used to be over $600k plus shoe contract and that was several years ago. A smart kid can be set up for life if they invest it wisely.
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Christov said:
Minimum for 2021-22 will be $925K. I'll take it.
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Glad Moses and Jose have a chance here but unless they have a 6-10 year career they likely will not be set.

You guys are too funny. $2-3 million is not going to “set you up for life”. Let’s say you got some sort of great annuity that was willing to pay you 10% annually on the balance. S&P averages about 11.5% over a couple decades. That’s $300k/yr NOW. Over time, likely 20 yrs from now (could be less) it’s the equivalent of $150k. By the time they hit 60 it’s only worth $75k in today’s earning power. Then Uncle Sam has his hand in your rich pocket. Hardly “raking it in”. Good money no doubt that early in a career but not enough to mail it in.
 

Tadams6599

Jolly Good Fellow
Messages
191
LibertyTurns said:
Glad Moses and Jose have a chance here but unless they have a 6-10 year career they likely will not be set.

You guys are too funny. $2-3 million is not going to “set you up for life”. Let’s say you got some sort of great annuity that was willing to pay you 10% annually on the balance. S&P averages about 11.5% over a couple decades. That’s $300k/yr NOW. Over time, likely 20 yrs from now (could be less) it’s the equivalent of $150k. By the time they hit 60 it’s only worth $75k in today’s earning power. Then Uncle Sam has his hand in your rich pocket. Hardly “raking it in”. Good money no doubt that early in a career but not enough to mail it in.
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What a downer
 

g0lftime

Helluva Engineer
Messages
6,052
LibertyTurns said:
Glad Moses and Jose have a chance here but unless they have a 6-10 year career they likely will not be set.

You guys are too funny. $2-3 million is not going to “set you up for life”. Let’s say you got some sort of great annuity that was willing to pay you 10% annually on the balance. S&P averages about 11.5% over a couple decades. That’s $300k/yr NOW. Over time, likely 20 yrs from now (could be less) it’s the equivalent of $150k. By the time they hit 60 it’s only worth $75k in today’s earning power. Then Uncle Sam has his hand in your rich pocket. Hardly “raking it in”. Good money no doubt that early in a career but not enough to mail it in.
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That's why I don't do annuities.
 

Steverc

Jolly Good Fellow
Messages
336
It is risky chasing hoop dreams. If things aren't happening after 2-3 years, you can pull the plug and start a career in your degree field. If you wait too long, many companies may be reluctant to hire a 30 year old into an entry level position when he is 7-8 years removed from college. This is why many former college athletes are hawking cell phones in the T-Mobile store.
 

Steverc

Jolly Good Fellow
Messages
336
slugboy said:
From what I’ve seen, most companies love hiring former college athletes. The ability to grind and compete is something that college athletes excel at.
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After a couple of years playing overseas, many companies look at that as a positive experience (learning different cultures, working as part of a team, etc.). After 7-8 years, it becomes less appealing. I know two cases, one where a guy held on too long and one where a guy got out after 2 years. Admittedly, this is a small sample size, but both have told me stories of others.
 
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