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Colbert to Pats

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grover said:
Good from him! 5 years in the league. A Google search showed his 2020 contract was 825K. He's not buying mansions in Beverly Hills just yet. But he's got to be building up a nice little nest egg if he's smart.
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And he's now clearly in pension/benefit status:

www.nbcsports.com

How the new NFL Collective Bargaining Agreement helps retired players

Much of the focus on the new NFL CBA has been on the benefits current players will receive. But the new CBA may be even more important for the NFL’s retired players. According to the Mount Laurel-based NFL Alumni group, the NFL’s more than 10,000 retired players or alumni will all receive...
www.nbcsports.com www.nbcsports.com
 
grover said:
Good from him! 5 years in the league. A Google search showed his 2020 contract was 825K. He's not buying mansions in Beverly Hills just yet. But he's got to be building up a nice little nest egg if he's smart.
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Not that it'll ever happen, but I'd love to see what percentage of total NFL earnings are invested in capital markets and real estate. I'd guess it's less than 30%.

Gotta buy those Bentley's though.
 
rustywalkedaway said:
And he's now clearly in pension/benefit status:

www.nbcsports.com

How the new NFL Collective Bargaining Agreement helps retired players

Much of the focus on the new NFL CBA has been on the benefits current players will receive. But the new CBA may be even more important for the NFL’s retired players. According to the Mount Laurel-based NFL Alumni group, the NFL’s more than 10,000 retired players or alumni will all receive...
www.nbcsports.com www.nbcsports.com
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Bingo. That’s the difference maker for those not getting the big salaries.
 
305407cane said:
Gotta be smart and make tough decisions on giving and not giving money to your fam. Just ask Trent Richardson
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While I totally agree that's a big part of it, there's also discretionary expenditures and buying more than you need. Maintenance, insurance, property taxes, professional advisor fees, on and on and on all add up really fast. Less money today is a smaller corpus upon which to compound interest over the long run.
 
CashMoneyCane said:
While I totally agree that's a big part of it, there's also discretionary expenditures and buying more than you need. Maintenance, insurance, property taxes, professional advisor fees, on and on and on all add up really fast. Less money today is a smaller corpus upon which to compound interest over the long run.
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Correct. But I am more referring to the guys who start spending like wild on their first contract. Richardson said his boys spent a million of his own money in his rookie year. I’m just saying that football is not a guarantee. You shouldn’t get wild until your second contract
 
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All this talk of the NFL guys overspending and not investing such a tired talking point. Players smart now a days... they saw the 30 for 30 too.

see (I AM ATHLETE)
 
305407cane said:
Correct. But I am more referring to the guys who start spending like wild on their first contract. Richardson said his boys spent a million of his own money in his rookie year. I’m just saying that football is not a guarantee. You shouldn’t get wild until your second contract
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Couldn't agree more. The biggest issue here is having an investment base vs. blowing it all on things that will continue to cost more money than the initial purchase price. It's not even a matter of second contract money. Unless you're getting $100 million in your first five years, you should be spending very little of it until it's time to retire and you know how much you ACTUALLY made.

Buy a nice house. Don't buy a $20 million mansion. Buy a nice Tahoe or Escalade. Don't buy a Bentley. About 70% of the money should go into diversified real estate and public investments.

And for the love of god, don't put your uncle in charge of it all.
 
If you wanna buy your mom a house go ahead but keep it in your name so if **** hits the fan you have a potential source of income. Property is never a bad investment as long as you’re smart about it
 
305407cane said:
If you wanna buy your mom a house go ahead but keep it in your name so if **** hits the fan you have a potential source of income. Property is never a bad investment as long as you’re smart about it
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You just excluded a large portion of the population right there.
 
He’ll be a starter by mid season. Bill loves guys like AC.
 
CashMoneyCane said:
While I totally agree that's a big part of it, there's also discretionary expenditures and buying more than you need. Maintenance, insurance, property taxes, professional advisor fees, on and on and on all add up really fast. Less money today is a smaller corpus upon which to compound interest over the long run.
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A lot of guys get really bad advice with their money. They invest with professionals who pretend to be their friend to gain trust instead of going to a big company like Charles Schwab, Edward Jones, Fidelity, etc.

Nothing against small independents, but good luck getting your money if they ***** you and spend it on themselves or just make bad investments. You'll get a court judgment. Good luck collecting.
 
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In other ProCanes news, Michael Pinckney was signed by the Chicago Bears on May 13th. A week ago, he was waived by Chicago after just three days as a Bear. After being on New England's practice squad last year (before being suspended for six games at the end of the 2020 season), Pinckney was signed to a reserve/future contract with the Patriots in January. Earlier this spring on March 23rd, Pinckney was waived by the Pats.
 
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