03-12-2024, 12:01 AM
(03-11-2024, 01:21 PM)TheLeonardLeap Wrote: That $21.8m gets hit with local, state, and federal taxes.
Sauce Gardner was in the news when he signed his $33.45m rookie deal, and it came out he'd probably only get $17.4m of that after all the various taxes, or 52%.
You need at least $3m over a lifetime for a basic middle class life (which lets be honest, NFL players aren't going to go to a $70k/yr lifestyle) and even that's only quickly increasing with inflation. The ~$13m (we have some less taxes than NY/NJ) that Tee would see out of that isn't enough for his grandchildren to have wealth, so it wouldn't be generational but just a generation.
2% dividend on 13m is over 200k a year to do nothing. Not to mention the appreciation of the underlying asset, which would appreciate with inflation garnering a higher dividend. 13 million can easily be generational wealth if you’re not an idiot.
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