Football Ten reasons why ex-NFL players go broke... - Page 8

Msmith · 05-31-2012, 07:47 AM

1) Gross vs. net: It never fails; when my clients get their first NFL check they call me and say something is wrong. They are floored by how much is taken out for taxes and other deductions. Unfortunately, the shock doesn’t resonate long enough. I would say 90% of players have some type of direct deposit or their check gets mailed to their investment advisor and the players never see the net amount. Thus, they think they always are making more money (in gross numbers) than they actually are...

Link: http://www.nationalfootballpost.com/...-Go-Broke.html

05-31-2012, 07:47 AM	Topic Starter
Msmith Veteran Join Date: Jan 2004 Casino cash: $8238035	Ten reasons why ex-NFL players go broke... 1) Gross vs. net: It never fails; when my clients get their first NFL check they call me and say something is wrong. They are floored by how much is taken out for taxes and other deductions. Unfortunately, the shock doesn’t resonate long enough. I would say 90% of players have some type of direct deposit or their check gets mailed to their investment advisor and the players never see the net amount. Thus, they think they always are making more money (in gross numbers) than they actually are... Link: http://www.nationalfootballpost.com/...-Go-Broke.html
Posts: 2,068

Thread Tools
Show Printable Version Email this Page
Display Modes
Switch to Linear Mode Switch to Hybrid Mode Threaded Mode