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Author
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Topic: Financial Prudence
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YoursTrulyAlways
Knowflake Posts: 6633
From:
Registered: Oct 2011
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posted January 06, 2014 02:04 PM
  
I'm not too much a fan of American sports but, in the age of whacked out celebrities and athletes, and multiple bad examples, it's nice to see an example of a guy who has his head screwed on properly. http://www.cbssports.com/nba/eye-on-basketball/2431499 9/michael-carterwilliams-has-put-his-rookie-salary-in-a-trust-fund IP: Logged |
Kerosene
Knowflake Posts: 8142
From: Mercury
Registered: Dec 2012
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posted January 06, 2014 03:01 PM
People hand you sacks of gold just because your are strong or beautiful.What else is new.
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aquaguy91
Moderator Posts: 8253
From: tennessee
Registered: Jan 2012
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posted January 06, 2014 03:11 PM
Sounds like a pretty good plan.IP: Logged |
Padre35
Knowflake Posts: 3081
From: Asheville, NC, US
Registered: Jul 2012
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posted January 06, 2014 07:20 PM
Eh, sort of, free hotel rooms and food via the team, so he does not quite have the expenses of a young professionalIP: Logged |
YoursTrulyAlways
Knowflake Posts: 6633
From:
Registered: Oct 2011
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posted January 06, 2014 09:31 PM
$10 million over four years is a pretty nice salary for a rookie contract.He'll still get to live off his Nike contract, which must be at least $1 million a year, so he won't starve. To perform to his level, he's got to have some basic living expenses, but I would think that $200K would cover living costs, automobile and travel a year. As a basketball player, you don't exactly have the luxury of living far away from the team, and I would imagine you need a couple of apartments located close to training camp, etc. Team picks up basic travel costs, but traveling expenses can add up. I know about that, for sure. IP: Logged |
aquaguy91
Moderator Posts: 8253
From: tennessee
Registered: Jan 2012
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posted January 06, 2014 10:48 PM
quote:
Originally posted by YoursTrulyAlways:
$10 million over four years is a pretty nice salary for a rookie contract.He'll still get to live off his Nike contract, which must be at least $1 million a year, so he won't starve. To perform to his level, he's got to have some basic living expenses, but I would think that $200K would cover living costs, automobile and travel a year. As a basketball player, you don't exactly have the luxury of living far away from the team, and I would imagine you need a couple of apartments located close to training camp, etc. Team picks up basic travel costs, but traveling expenses can add up. I know about that, for sure.
Dang. I would be happy with 100K at this point. Lol
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Padre35
Knowflake Posts: 3081
From: Asheville, NC, US
Registered: Jul 2012
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posted January 06, 2014 11:54 PM
quote:
Originally posted by YoursTrulyAlways:
$10 million over four years is a pretty nice salary for a rookie contract.He'll still get to live off his Nike contract, which must be at least $1 million a year, so he won't starve. To perform to his level, he's got to have some basic living expenses, but I would think that $200K would cover living costs, automobile and travel a year. As a basketball player, you don't exactly have the luxury of living far away from the team, and I would imagine you need a couple of apartments located close to training camp, etc. Team picks up basic travel costs, but traveling expenses can add up. I know about that, for sure.
Certainly, the tmv of $$ is a bit of different stratosphere for him tho. IP: Logged | |
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