Quote:
Originally Posted by GGG
So after paying his agent he ends up with 1.75 million over 3 years of NHL hockey. Put that in an ETF at a safe withdrawal rate of 4% and you have about 70k per year for life or live off 200k in cash per year and leave 1 million in an ETF let it grow for the 5-10 years of you career and never worry about money again.
These numbers are still huge for a guy making in the bottom quartile of NHL Salary.
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Huge numbers to be sure, but if no one told the young player what you just said, he's likely to end up poor.
Financial awareness is so rare among young people, and I'll warrant even more rare among young pro athletes who very likely missed a lot of schooling.