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re: Case it hasn't sunk in yet - a 10 yr coach at a Blue Blood U made a 'lateral move' to LSU
Posted on 12/1/21 at 3:46 pm to Big Scrub TX
Posted on 12/1/21 at 3:46 pm to Big Scrub TX
quote:
Yep. 100 million is generational wealth
“Eh. The after-tax, present value of that is probably like $20M. Not bad, but certainly easily squanderable by just his kids.”
That’s Lincoln Riley’s situation, Cali taxes are gonna kill him!!! He will literally lose close to 1/2 because of taxes and agents, etc.. Still rich AF though.
Yep. 100 million is generational wealth
“Eh. The after-tax, present value of that is probably like $20M. Not bad, but certainly easily squanderable by just his kids.”
That’s Lincoln Riley’s situation, Cali taxes are gonna kill him!!! He will literally lose close to 1/2 because of taxes and agents, etc.. Still rich AF though.
1
Posted on 12/1/21 at 4:08 pm to GumplandTiger
quote:Yeah, his nets would be even lower than Kelly's - I would take that 45% aggregate tax assumption up to at least 55% for him.
That’s Lincoln Riley’s situation, Cali taxes are gonna kill him!!! He will literally lose close to 1/2 because of taxes and agents, etc.. Still rich AF though.
It's a lot of money, but it's not the "my kids kids will never have to work" type of thing - unless managed properly.
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