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”

[MikelArteta]

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

(To the young black entrepreneurs)
Get rich, get money, get paper, get paid
Keep yourself laced, get your ones, get your dunns out the slums
(To the young black entrepreneurs)
Get dollars, get cash – straight up, don't get fukked
Get ya bucks, and get big
Stash your first millions and live off the interest

 

[O.T.I.S.]

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

I was watching the show LandMan and the way they put even 500k in perspective was just crazy.

Maybe not in major cities, but there are places where you can just buy your house cash and not really need to do a fukking thing but buy groceries and maintenance.

These clowns too busy trying to “look” a certain way and keep up with the joneses, with no care or concept of the future.

 

[winb83]

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.

Don't need a financial expert telling you to do anything you can just put it in passively managed index funds that mirror something like the S&P 500 and on an average return it would appreciate at least 7% or so annually after normal inflation. You put it in a dividend ETF and regardless of the annual appreciation you could get 2% - 3.5% yield in annual dividend payments on it.

If you don't lose your mind it would be easy with knowledge acquired on Google and YouTube to set yourself up for the rest of your life with that money just doing bog standard stuff with it.

 

[I'm Blackman]

Don't need a financial expert telling you to do anything you can just put it in passively managed index funds that mirror something like the S&P 500 and on an average return it would appreciate at least 7% or so annually after normal inflation. You put it in a dividend ETF and regardless of the annual appreciation you could get 2% - 3.5% yield in annual dividend payments on it.

If you don't lose your mind it would be easy with knowledge acquired on Google and YouTube to set yourself up for the rest of your life with that money just doing bog standard stuff with it.

This

 

[Ohene]

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.

of course...but its deeper than that...them nikkas are just lames.
i said save half of $12MM a year...thats $6MM. You can live an ultra extravagant life with that if you know what youre doing.

instead, these clowns are buying hoes cars, purses and jewelry, taking them on expensive vacations etc. not realizing that theyre the prizes. instead they are buying clothing that's ostentatious and will be out of style in a year or two. instead theyre buying jewelry with no resale value. instead theyre buying whips they will barely drive and lending all kinds of family members and friends money etc.

Take zion williamson for example. when this dude was at Duke, he flew a chick i used to fukk out to visit him. This is a chick I fukked without even buying her as much as a coffee if i recall correctly. she was just very attracted to me. If you got p*ssy before fame, you know you dont have to do or buy all that sucka shyt to have fun and attract women. But a lot of athletes are just lames with talent and trick.

Perfect example is this clown below:

 

[King_Kamala61]

I was watching the show LandMan and the way they put even 500k in perspective was just crazy.

Maybe not in major cities, but there are places where you can just buy your house cash and not really need to do a fukking thing but buy groceries and maintenance.

These clowns too busy trying to “look” a certain way and keep up with the joneses, with no care or concept of the future.

Yep. That's why when I see they homes first thing I think of is do they have fine art? That's the easy way Id ever drop $40,000 on. Having a collection of cars is crazy with the insurance you gonna pay on the plus maintenance and up keep. Then you got property taxes on ya home and then you gotta interior decorate.

I tell boys on here all the time, buying fine art is more valuable than buying multiple whips. Fine arts makes ya house a home.

 

[TELL ME YA CHEESIN FAM?]

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.

Shut the fukk up nikka

 

[big bun]

Coli Financial Gurus always know what to do with other people’s money.

 

[King_Kamala61]

Coli Financial Gurus always know what to do with other people’s money.

and? It's not hard to flip money when you got money. We need more black art galleries too.

 

[sayyestothis]

Imean money just dont stretch if u are enjoying and living which i advocate 100...

I make mid 6figs and of course I save, invest etc but the basic cash going out on lifestyle and kids.

 

[Tupac in a Business Suit]

Coli Financial Gurus always know what to do with other people’s money.

I agree. It’s only a lot of money if YOU know how to manage it and what’s the odds of an athlete being sophisticated enough to manager their own assets? Maybe five out of a hundred can post playing career. Plus, let’s not forget that the burden of expectancy that comes with having your new found wealth exposed to those close to you.

 

[winb83]

Coli Financial Gurus always know what to do with other people’s money.

You don't need to be a financial guru to know basic stuff about money like invest in the S&P 500 and live below your means.

We live in an age where this knowledge is easily accessible online behind no pay walls. You don't even have to pay for stock trades anymore. Bank accounts and brokerage accounts can be automated to buy even fractional shares automatically with no involvement from you past setting it up once.

 

[winb83]

I agree. It’s only a lot of money if YOU know how to manage it and what’s the odds of an athlete being sophisticated enough to manager their own assets? Maybe five out of a hundred can post playing career. Plus, let’s not forget that the burden of expectancy that comes with having your new found wealth exposed to those close to you.

Almost anything in this life you don't know how to do a basic search on YouTube can provide info.

I fixed the toilet the other day and I'm not a plumber. I just went on YouTube and watched some videos and figured it out.

 

[O.T.I.S.]

Yep. That's why when I see they homes first thing I think of is do they have fine art? That's the easy way Id ever drop $40,000 on. Having a collection of cars is crazy with the insurance you gonna pay on the plus maintenance and up keep. Then you got property taxes on ya home and then you gotta interior decorate.

I tell boys on here all the time, buying fine art is more valuable than buying multiple whips. Fine arts makes ya house a home.

If fine art increases its value overtime then sure… it’s definitely better than just buying a Bentley.

And that property tax…. Not even trying to judge these dudes but to say 100mil is not enough, idk. Even after taxes, it’s more than enough if you not thinking like a multimillionaire when you are spending it.


At least, not trying to “look” like one

You need the “it’s not enough” mentality when making it maybe, but not with spending it

 

[Tupac in a Business Suit]

Almost anything in this life you don't know how to do a basic search on YouTube can provide info.

I fixed the toilet the other day and I'm not a plumber. I just went on YouTube and watched some videos and figured it out.

Bredda. Congratulations to you but fixing a leaky toilet is simple. There’s several toilets in every home in America. Managing an eight figure portfolio Is not simple. not a good comparison.