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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The trouble is a bottom tier player spends his life living with and aspiring to be a top tier player, one of the guys that lives on several million a year, so telling him he should live in an average house, drive a mid tier bmw, generally live like an office manager when half the team is driving McLaren's and paying for the whole rooms drinks and lap dances at the peeler bar is a non starter.
200 a year isn't poor to you and I but in the world these guys move in that's living on welfare.