03-13-2024, 08:28 PM
(03-13-2024, 08:14 PM)SunsetBengal Wrote: Yeah, I've given some though to that whole "generational wealth" thing that they only have a "short time" to earn. I think that's bullshit. Even the NFL minimum (around $900,000) is about 15X the average ($60,000) salary for a typical American worker. If a rookie makes it to the NFL and lasts at least 2 seasons, they will have earned as much as the typical American worker over a 30 year career.
You talk about all the billions that the NFL generates, big deal. Most companies and corporations that most Americans work hard for, for peanuts in comparison, also make absurd amounts of money. Just like VPs and CEOs make 20-30X what a line worker makes, the NFL provides that for even the average of their employees. If an athlete completes a rookie contract and isn't set for life? That sounds like his own problem, and not the league's. Just like the Superstar who might have a career ending injury, if he made XX million on the year before, he is also set for life. They all know going in that the NFL is a fleeting thing for most and that if you stick around your body will be not the same. They also had plenty of education and coaching along the way to let them know to prepare themselves for a life other than football.
Tee is getting what 21 million for the tag? Say he gets to keep 60% after taxes. So about 12.6 million.
He could buy 10 million worth of 20 year treasury bonds this year that are sitting at a 4.5% rate with basically no risk. And collect $450,000 every year for the next 20 years. And still get his initial investment back plus some at the end.
That is generational wealth imo.
