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07-04-2019, 10:55 AM | #61 |
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70% of Rich Families Lose Their Wealth by the Second Generation
http://money.com/money/3925308/rich-...s-lose-wealth/ Indeed, 70% of wealthy families lose their wealth by the second generation, and a stunning 90% by the third, according to the Williams Group wealth consultancy. 1 in 6 NFL players go bankrupt https://www.cbsnews.com/news/1-in-6-...s-go-bankrupt/ Taken in total, almost 16 percent of the players studied declared bankruptcy during the first twelve years of retirement. The bankruptcies did not correlate with the amount of money made over a career or the length of time in the league. One more data point, some lottery winners are killed by their own friends and relatives over the money. Many of them lose most of their relationships due to the expectations of people around them. Many of them are also declaring bankruptcy within 5 years. IOW, getting $400 million instead of $200 million won't really accomplish what many of you seem to think it will (securing your family for generations). $200 million plus education about how to handle money will help more the $400 million without. At some point, being smart about how you handle money is more important than the actual quantity. You have little control over how your children and grandchildren handle money. You have virtually no control over the great-grandchildren and beyond. If your children and grand-children grow up with that kind of money, will their friends and mates truly be their friends or just hangers-on? You have no control over your descendants' quality of life. I would argue leaving them a buttload of money is as likely to set them up for failure or unhappiness as not. I don't really care what Mahomes does contractually. Thinking getting $40 mil per year instead of $35 mil per year will make a difference to his descendants is delusional. He seems to be better at looking for long-term payoffs instead of short-sighted money grabs than most. His people seem to be good at taking care of his interests and the Chiefs will take care of theirs so I'm not worried about it. |
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07-04-2019, 11:47 AM | #62 |
Grand champ
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LOL People are really delusional.
Assuming the best as far as you're concerned, what would three or four Super Bowl rings do for him that one or two wouldn't? And imagine he takes a discount and we don't win any more 'ships. He'd look like a real schlub. |
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07-04-2019, 12:16 PM | #63 | |
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Idle hands and all. |
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07-04-2019, 12:26 PM | #64 |
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I hope he has learned from Brady and takes that route. Brady really deserves a lot of credit for taking less money and it is one of the reasons he has won so many SBs...
The greed of some of you posters here amazes me. Wtf does it matter if someone is worth an extra $100 million if they are already worth $400 million? Can't take the money with you when you die... |
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07-04-2019, 12:33 PM | #65 | |
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And you can't take money with you when you die but you can sure as hell give it to your kids or to charity or do a lot to help people out with it. I think you can help more people with an extra 100 million than you can with an extra Superbowl ring or 2. |
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07-04-2019, 12:58 PM | #66 | |
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Its a sign of good leadership to take less money than you can because you realistically don't need it so your teammates can make more. It can also help our GM get Mahomes more help. Im not going to hold it against him if he doesnt take less money but ideally I think it'd be great to see the elite QBs on any team do this. |
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07-04-2019, 01:02 PM | #67 | |
Replaced by a future HOFer !!
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Depends on how you define 'never having to work'. Being the richest nation on earth, look at how soft our underbelly is as a society now with decades not working or underachieving because of our immense wealth along with technology advancement to enable this to happen. Generally speaking here, what I see are those that are 35yrs old and younger are just plain soft and they complain the most. Wealth should never dictate how hard you should or should not work, PERIOD There are severe consequences all the way around IF you do. Here below is a great Christian philosopher/apologist(Ravi Zacharias) in a very short excerpt explaining why 'infinite unbridled pleasure' leads to a 'meaningless life'. If you like this and want a more in-depth answer to this concept then I have included the following video as well. Enjoy! In-depth answer. Talk starts at the 3:45 mark. |
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07-04-2019, 01:03 PM | #68 | |
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07-04-2019, 01:07 PM | #69 | ||
Replaced by a future HOFer !!
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07-04-2019, 01:09 PM | #70 |
Replaced by a future HOFer !!
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Stop your nonsense here. There is a reason Brady has won 6 out of 8 SBs. He is COMPETITIVE and will exhaust all options to win. Giselle has nothing to do with his restructuring plain and simple.
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07-04-2019, 01:31 PM | #71 |
SuperBowl or bust
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Top five money for a hall of fame super bowl winning quarterback IS TAKING A DISCOUNT.
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07-04-2019, 01:42 PM | #72 |
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Other than the first year, most years Mahomes will be top 5 based on other players signing contracts and based on how money is spread out. It's not like he's going to be #1 every year. Most years the top 5 was some kind of combination of Favre, Manning, Vick, Palmer and Brady. That makes sense
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07-04-2019, 01:48 PM | #73 | |
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You're talking about a profession where in most cases you only have one chance for a large pay day. Players have to try to maximize every contract they can get because nobody knows if they will ever see one again. This rah rah fantasy land doing it for the team is nothing but a bullshit child's fantasy that simply does not have a grasp in reality. |
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07-04-2019, 01:53 PM | #74 |
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His agent will be sure to squeeze every dollar out of the Chiefs that he can. He would be dumb not to. Imagine trying to sell yourself as an agent to a future draft pick as an agent that has a reputation of not representing the complete financial interests of their client.
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07-04-2019, 02:04 PM | #75 |
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Mahomes wants to be the GOAT. One or 2 rings won't cement that for him. If he doesn't win as many Superbowls as Brady, or even as many as Montana, people will always rank them higher. Taking a contract that helps the team build around them will help accomplish that
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Genesis 1:1 In the beginning, God created the Heavens and the Earth. Following the historical accounts and the genealogy from that point on, the age of the Earth is approximately 6000-7000 years old. The Big Bullshit Theory is a lie. It and the evolution theory go against real science. Satan has used our public school system to brainwash everyone into believing these lies. Be not decieved. |
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