[theslymonkey]

Originally Posted by InCoGnEtO

Just for reference in the conversation as of late, here is a site that shows the overall 'take home' for hockey players dependant on cities/states/provinces:
https://gavingroup.ca/nhl-tax-calculator/

Don't forget that players also pay 3-5% to their agent, and 10-15% to Escrow (rarely get any back).

So the math on a $10M salary in Calgary is:
Escrow (assume 15%): $1,500,000
Remaining: $8,500,000
Taxes (47.6% in AB): $4,046,849
Agent (assume 3%): $300,000
Takehome: $4,153,151

I know its like 'boo hoo, Millionaires!', but I do think its interesting how fast a $10M contract turns into $4.

....Now think about the players that make $1M a year:
Escrow (assume 15%): $150,000
Remaining: $850,000
Taxes (47.6% in AB): $374,849
Agent (assume 3%): $30,000
Takehome: $445,151

These guys have an average career of, what, 4 seasons? So many of these kids are done at 28 with no education with career take home of $1,780,604

Its a lot....but not a ton.

Just some stuff to think about.

Sure, but here's some other things to thing about:

At 28 with even some reasonable money management these guys will have:
House paid in full and loaded with appliances, furniture, home theater...
Car or two paid in full.
Toys paid in full (boat, cabin, bike, boat...)
Decent savings in excess of 100K hopefully invested returning 5-8%.

At 28 that's pretty sick. So now he has to pay utilities, property tax, insurance and basic living expenses. That usually would take an average person until they were at least 40-50 to get done. And all that time they get to play hockey to get there. I'd take that and I'm sure anyone else would too.