Odell Beckham explains why $100 million contract isn’t really a lot of money “if you think about it that’s only $60 million after taxes”

[2 one 3]

fukk outta here

Number 1.. tell people around you no

Number 2. fukk the flossing and buying multiple cars, jewelry, tricking..

Number 3.. don’t buy a 10 million dollar house especially in a state like California

Number 4. U have connections get in contact with players who agents/financial advisors been straight and don’t fukk their clients over

Thank you…


These lame ass players are nothing more than hype. Beast and OBJ is a super fukking corny hype beast. If you don’t try and keep up with the Jones and live a modest lifestyle one contract of $100 million should last you a lifetime

 

[winb83]

The guy is a fucking moron. If you took $30 million of that money and invested it in a dividend focused ETF like SCHD it would generate over $1 million a year in income. The tax on it would put you a bit under a million at 20% tax but that's lower than most working people pay in tax percentage.

 

[Ohene]

What he said is the absolute truth though. He didn't say it wasn't a lot of money, he was pretty much saying it's hard to make it last if that's ALL you have and you try to keep a certain lifestyle forever. Plus he was talking about a 5 year contract; you would have to live a middle class lifestyle to make that be generational money. Most people don't have that kind of discipline, especially if you are expecting that contract to be the 1st of a few instead of your only contract.

whats a middle class lifestyle to you? nah. a middle class lifestyle is a household making $300K a year in this day and age. Most individuals aint making a $5 million in their lifetime let alone $100MM. You trippin


its really simple. If you got a 5-year $100MM contract, and after tax you make $12MM a year you shouldnt even sniff $5MM of it. It should go in an account that generates 5% interest annually. You do that, by the time that contract is up you'll have. $25MM of principal generating $1.25MM a year (before tax) doing nothing.

thats at a minimum. not that simple but it isnt a middle class lifestyle by any means

 

[Uchiha God]

These dudes are so out of touch

 

[King Static X]

Clown statement.

I wish I was "only" making $60 million over 5 years

 

[85 East]

That's why you hire an accounting firm right out the fukking gate to help manage your money, and keep your spending in check...

 

[hood b. goode]

Video clip conveniently cut when he was in the middle of making his point.

The point he was trying to make: You can make the money last forever. Be smart with it.

 

[O.T.I.S.]

He still has over 40 million after taxes...you don't need a big ass house or a mansion

Literally life changing money for like a 100 people… maybe more

 

[#BOTHSIDES]

He spittin the truth

Yeah. I can relate. I’ve experienced the same thing after my $100m

 

[The God Poster]

Clown statement.

I wish I was "only" making $60 million over 5 years

I get what he was trying to say. Sure you & I would be straight off that

For someone famous that requires security, can’t live in regular people area. You gotta keep a certain lifestyle/look for sponsors, meetings etc. You’re going to run thru that money pretty easily not even including looking out for mom/kids etc.

Now factor in every finance expert telling you to invest with them. You only end up with that 1 contract now you still got 30 more years before you even hit 60.

 

[Eternally Jaded]

What he said is the absolute truth though. He didn't say it wasn't a lot of money, he was pretty much saying it's hard to make it last if that's ALL you have and you try to keep a certain lifestyle forever. Plus he was talking about a 5 year contract; you would have to live a middle class lifestyle to make that be generational money. Most people don't have that kind of discipline, especially if you are expecting that contract to be the 1st of a few instead of your only contract.

Then the smartest thing would be to use your highest earning years to establish businesses that are self sufficient, to the point that your paid salary is the smallest part of your wealth.

Ie, what Shaq, Lebron MJ and others have done.

Trying to live like you're always gonna be up is a catastrophic blow to longterm wealth.

 

[King_Kamala61]

Literally life changing money for like a 100 people… maybe more

These millionaires need to understand investment portfolios and to stop buying dumb shyt. I'm not tryna pocket watch ..but give me $1 million and I'm getting a modest house and and spending the rest on art supplies

 

[MikelArteta]

only 60 million for playing a kids game

 

[King Poetic]

Also he played more than 4 years in the league so that nfl pension will be lovely

U have a player like OJ Simpson up till he died live a good life even coming out of jail and beating that murder case and you made well more than the juice..

I did see him start doing businesses with a few with his father and other ventures

The way he talking here , he might be catching Ls in those businesses

 

[Conan]

whats a middle class lifestyle to you? nah. a middle class lifestyle is a household making $300K a year in this day and age. People aint making a $5 million in their lifetime let alone $100MM. You trippin


its really simple. If you got a 5-year $100MM contract, and after tax you make $12MM a year you shouldnt even sniff $5MM of it. It should go in an account that generates 5% interest annually. You do that, by the time that contract is up you'll have. $25MM of principal generating $1.25MM a year (before tax) doing nothing.

thats at a minimum. not that simple but it isnt a middle class lifestyle by any means

You're right on the math aspect.

However these athletes don't do all that hard work to live on 6 figures after tax (for the rest of their life). They don't see life without the chains and the cars and balling out (beyond what a 6 figure breh is accustomed to).

What they don't realize is that their earnings are limited and it is very likely they they'll have to choose between a comfortable, mediocre (in their eyes) high 6 figure lifestyle for the rest of their lives, or have 5-10 years where they live like rockstars, and scrounge for funds once their fortunes and careers peter out

The right choice is the first one. But again, I understand why athletes choose the latter.