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re: NBA rookie puts first $4.5M into a trust for 3 years
Posted on 1/16/15 at 11:20 am to yankeeundercover
Posted on 1/16/15 at 11:20 am to yankeeundercover
He's going to have a long, prosperous career. He should be enjoying his money while he is young.
1
Posted on 1/16/15 at 11:27 am to GreatLakesTiger24
quote:
He's going to have a long, prosperous career. He should be enjoying his money while he is young.
What happens if he blows out a knee 4 years into his long prosperous career and is never the same? This is a good insurance policy for the kid.
And I just realized that this is only his rookie year salary. He could easily put half his salary into the trust the next couple of years as well and be set for life. Of course the $4.5MM would have me set for life, but he and his family could live very comfortably for a very long time on that.
This post was edited on 1/16/15 at 11:31 am
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