Quote:
Originally Posted by displacedinMN
If you are smart- 41 mill can last a long time.
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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.
Good for you, Brock. You won at life.