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Started By
Message
pro golf money
Posted on 12/25/18 at 2:07 pm
Posted on 12/25/18 at 2:07 pm
Jamie Lovemark pulled in almost $1.4 large in ‘18 and $6.5M for his career playing in complete anonymity. He’s 30.
The purses on the PGA tour are serious.
Never heard of Jamie? Either have I. That’s a great gig if you ask me.
Money list
13
Posted on 12/25/18 at 2:10 pm to Dogfish
If you have never heard of Jamie Lovemark, you don’t watch much golf.
Also, $1.4M is nice no doubt, but after taxes, plus paying expenses, I’d be curious what the gross was.
Also, $1.4M is nice no doubt, but after taxes, plus paying expenses, I’d be curious what the gross was.
This post was edited on 12/25/18 at 2:13 pm
Posted on 12/25/18 at 2:12 pm to BCMCubs
He was in a playoff at the Zurich a few years ago
Posted on 12/25/18 at 2:16 pm to BCMCubs
quote:
If you have never heard of Jamie Lovemark, you don’t watch much golf.
I missed his second place finish several years ago but that’s not my point. My point is a very exceptional living can be made teeing off early with little or no galleries and just making cuts.
Posted on 12/25/18 at 2:17 pm to Dogfish
Any golf fan knows who Jamie Lovemark is
Posted on 12/25/18 at 2:46 pm to Dogfish
The other side of that view is that golf is immensely risky.
Between the PGA tour, and the European Tour, and a few select Asian Tour players, the top 200 or 250 players in the world all make a very good-to-great living (most are millionaires just a few years into it).
But the next 1,000 to 2,000 players are barely scraping by, and the next 2,000 to 5,000 are usually doing something else entirely. And the difference between the 250th best player in the world and the 2,000th best player in the world is pretty much imperceptible to you and me and is vanishingly small in qualitative terms. The margin of error at the highest levels of golf is so very small and the rewards for ending up on the right side of it so huge that it ends up breaking far more people than it ends up rewarding.
Between the PGA tour, and the European Tour, and a few select Asian Tour players, the top 200 or 250 players in the world all make a very good-to-great living (most are millionaires just a few years into it).
But the next 1,000 to 2,000 players are barely scraping by, and the next 2,000 to 5,000 are usually doing something else entirely. And the difference between the 250th best player in the world and the 2,000th best player in the world is pretty much imperceptible to you and me and is vanishingly small in qualitative terms. The margin of error at the highest levels of golf is so very small and the rewards for ending up on the right side of it so huge that it ends up breaking far more people than it ends up rewarding.
Posted on 12/25/18 at 2:54 pm to AbuTheMonkey
My friend was in the Hooters tour back in the day.
He said he didn’t make shite and was living out of his car or staying at ghetto arse motels half the time.
He said he didn’t make shite and was living out of his car or staying at ghetto arse motels half the time.
Posted on 12/25/18 at 3:32 pm to Dogfish
The 50th money list player makes more in one year than Nicklaus made in 10 years on the tour.
Posted on 12/25/18 at 3:53 pm to Dogfish
there are millions of golfers on the planet, that is the top 125 on EARTH.
Posted on 12/25/18 at 3:56 pm to BCMCubs
quote:
but after taxes, plus paying expenses, I’d be curious what the gross was.
WGAS...I'd sure like to find out.Most big time golfers are pretty smart so they all probably incorporate and have accountants that make sure they don't pay a penny more than they are supposed to.
Posted on 12/25/18 at 7:27 pm to Dogfish
Do you have any understanding of what it cost to be a progressional golfer? You have a TON of overhead & cost associated with practice, training, and travel.
Posted on 12/25/18 at 7:36 pm to Funreaux
Let's not forget Lovemark signed a pretty big deal with Nike too.
Posted on 12/25/18 at 7:40 pm to Dogfish
quote:
My point is a very exceptional living can be made teeing off early with little or no galleries and just making cuts.
Yeah bro anyone can tee it up and make a few cuts
You realize the guys capable of that are in the top 125 or so golfers in the world, out of billions of people......
Posted on 12/25/18 at 7:43 pm to BCMCubs
quote:
Also, $1.4M is nice no doubt, but after taxes, plus paying expenses, I’d be curious what the gross was
He's not scratching a broke arse, that's for sure, but you have a valid point. These guys are traveling the world staying in hotels/renting houses a week at a time plus home club membership etc. Flying commercial and staying at decent hotels you'd still rack up decent expenses, plus food while on the road and what not.
Posted on 12/25/18 at 8:43 pm to Mingo Was His NameO
My guess:
Earnings 1,400,000
Taxes 450,000
Caddy 200,000
Travel 150,00
Team 100,000
Profit 500,000
Earnings 1,400,000
Taxes 450,000
Caddy 200,000
Travel 150,00
Team 100,000
Profit 500,000
Posted on 12/25/18 at 8:59 pm to TheMailman
quote:
My guess:
Earnings 1,400,000
Taxes 450,000
Caddy 200,000
Travel 150,00
Team 100,000
Profit 500,000
Probably pretty close. That's obviously still a lot of money, but it's around league minimum for the Big 3 sports. The 50th ranked player in those sports is making a lot more than 500k
Posted on 12/25/18 at 9:04 pm to Mingo Was His NameO
Correct. And pretty much the 50th world ranked person in ANY profession makes more money.
Posted on 12/25/18 at 9:13 pm to TheMailman
quote:
Taxes 450,000
What? He's not paying taxes on the full $1.4 million.
If he is incorporated (which I'M 99% sure that he is)
he's paying taxes on his earnings AFTER expenses.
As an LLC or a small S corporation, he'd be paying probably around 19% on earnings after expenses.
Posted on 12/25/18 at 9:22 pm to RD Dawg
I know that. I bet he pays over 50% of his income to taxes.
Posted on 12/25/18 at 9:34 pm to TheMailman
quote:
I bet he pays over 50% of his income to taxes.
Are you talking after expenses?
If he has a half decent accountant he's not paying close to 50% especially since he lives in a state w/out income tax.
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