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re: When $35M is really $15M: How much NBA stars actually earn
Posted on 9/19/17 at 9:32 pm to slackster
Posted on 9/19/17 at 9:32 pm to slackster
quote:
The NBA 401k is pretty legit. It looks like they're matched in the neighborhood of 180% on their contributions - essentially $9 match for every $5 contributed by the players.
Can confirm. As a CPA, our firm has a client who plays in the NBA. Can't remember the % but it was somewhere between 150-200% that the team would match on player contributions. The player had to ask our partner if it was worth it to contribute to the plan to get the match
It's an awesome plan, but at the same time, 30k to a retirement plan is a drop in the bucket to them.
1
Posted on 9/20/17 at 9:19 am to Tigerfan56
quote:
It's an awesome plan, but at the same time, 30k to a retirement plan is a drop in the bucket to them.
Well now it is, but many of them can't see the forest for the trees and don't think about what happens once they're not making millions a year.
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