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Just participating in the discussion. Everyone has to make decisions based on their own personal goals & needs. Just saying the likelihood of a multi million $ lump sum windfall is rare. Maybe he doesn?t care about the current money potential and prefers a good social life the next couple of years. We?ll have to see how it plays out. Oh, yeah, f yourself.Quote:
Originally Posted by maroonmania
Unfortunately, Whitson never fully recovered from major shoulder surgery after his sophomore year. His draft stock dropped because of it.Quote:
Originally Posted by Quaoarsking
If I were Ginn, I would try to speak with guys like Bickford and Whitson and other guys who decided not to signed to get their insight about not signing. Life experiences are the best teacher.
2.8 million before taxes is a good start. But it doesn't make you set for a lifetime.Quote:
Originally Posted by Rustydawg
Didn't a London insurance firm write policies for stuff like this? I thought I remembered some past players taking out a policy where, if they go hurt they would collect a substantial amount of money.
Yes. I think you are thinking about Lloyd's of London. I'm sure there are some other companies that have policies for this as well.Quote:
Originally Posted by West Tn Dawg
Yeah he tore up his shoulder i think.Quote:
Originally Posted by msstate7
I mean, no one would argue $3.1M isn't a nice chunk of change, but after taxes and some upfront purchases like a house, parents a house, car, etc., there is no way that sets you up for life. Maybe he doesn't need a car or his parents already have a nice house, but still there's going to be those upfront purchases. It gives you an upper hand, but you can't expect to just invest that and live on it for the rest of your life unless you take a huge risk and get really lucky.Quote:
Originally Posted by Rustydawg
Dodgers just signed the #1 international prospect. Some catcher from Venezuela.
If you are talking about $3.1M in one year, you are looking at somewhere between $1.7M and $1.86M after taxes, which nets you $51k to $55,800 per year at a 3% withdrawal rate, which would allow you to increase that with inflation and historically would never run out of money, and usually would end up growing your money considerably.Quote:
Originally Posted by dawgs
That's not living some incredible lifestyle, but it is a low to mid middle class lifestyle while never having to worry about money, which I would say is set for life.
And a college education paid for after baseball.Quote:
Originally Posted by Johnson85
I think all of the positive MSU talk is just a negotiating tactic. His family would have to be pretty well off to let him turn down that kind of money.
No one handed $1.7M-$1.86M is going to live like someone making $50K per year, at not for the first year or 2. A nice house, a new car, some fun vacations, and suddenly you have eaten away significantly at that nest egg before it even gets invested.Quote:
Originally Posted by Johnson85
I said it's a nice chunk of change, it's just not the kinda change that's going to take him from rags to riches. A lot of us could be set for life if we didn't care about enjoying things that cost money. But the reality is that even responsible spenders are going to put a significantly less amount than the full $1.7M-$1.86M into investments. Then we get into the taxes on the $51-55K you pull out each year, maybe in rural MS that's a decent living, but in many areas of the country, it's closer to poverty level than comfortable middle class.
Anyone remember the Presley guy who signed years ago out of high school. Got hurt the first couple years and never realized his amazing potential. I’m sure his life is awesome but for some reason if he was my child I’d love for my son to bypass the signing and go to college, especially an in state school. The reason being that if an injury happens in college he is the guy who bypassed the quick route because of his love of college and school. Not only is their insurance for injury but also a new family that will look out for him. Injured in the minors and things are tougher.
Look I’m old,54 but I hope I never forget what it’s like to be 18. If he was my son, yes I have a 17 year old, I say trust you, believe in you and do what makes you happy because I know you won’t fail!!
jeff ellis
@jeffMLBdraft
Two separate sources today mentioned an injury issue with Carter Stewart that has hung up the signing process
11:19 PM - Jul 2, 2018
I wonder what Kirk (cousin of Elvis) is up to these days? I remember Jackie saying "If he gets offered 1M, I'm telling him to take it". Always wondered what type of QB he would have been.Quote:
Originally Posted by Dawgcap
Don't tease us with this shitQuote:
Originally Posted by msstate7
I hate it. If he doesn't sign with braves, I think he goes juco.Quote:
Originally Posted by dawgs
If he goes JUCO with a known injury he’s an idiot. His best choices right now are sign for significantly less money and get rehabbed there or go to MSU and rehab with us and play college ball. Going JUCO will ruin his career because he will face this issue again and they won’t draft him that high at all. Even the Braves guy says he will come to State if he doesn’t sign due to the wrist issue. If this was just money, sure I could see JUCO but not with this wrist issue.Quote:
Originally Posted by msstate7
All according to what his doctor is saying. What if his doctor disagrees with braves' doctor. I just don't see us getting Stewart. I'm very pessimistic when it comes to getting players from mlb thoughQuote:
Originally Posted by MarketingBully
You think he's going to go drop money on a house while he bounces through the minors? Or is a 19 year old going to rent a place with other players?Quote:
Originally Posted by dawgs
$50k a year when you are also getting paid to play minor league baseball will get a 19 year old a nice car and some fun vacations.
To the extent you're worried about taxes, if he is just living on $50k a year from investments, that will be essentially tax free from a federal standpoint.
And $50k per year after tax is not close to the poverty level for a single person. As i said, it's low to mid middle class. Not exactly what people aspire to coming out of college, but still pretty good lifestyle to start out with as a base before you do any work at all. He can go coach high school ball if he loves baseball and still make double the median household income in most places.
That is life changing money. If you assume he's going to fritter it away, you can assume that for any amount, but I think most people from middle class parents with scott boras as an agent are going to have access to not incompetent advisors, so I suspect he'll be ok if he goes that route.