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Started By
Message
1
Posted on 5/16/19 at 9:08 am to wildtigercat93
There's also more to being an agent than negotiating their NBA contract
Posted on 5/16/19 at 9:08 am to LNCHBOX
Because Lebron is just an everyday NBA player right?
Posted on 5/16/19 at 9:14 am to RedRifle
Must be tough.
Posted on 5/16/19 at 9:25 am to Weagle25
quote:
Because Lebron is just an everyday NBA player right?
Was Tim Duncan?
Posted on 5/16/19 at 9:29 am to thunderbird1100
quote:
Only $18K into his 401K? Those are rookie numbers
Well this guy outed himself as poors
It's funny because people ITT are acting like $18k, $18.5k, or $19k is the maximum.
It isn't, and Steph should absolutely be putting in more.
ETA - I'm sure he is putting in more. These numbers are just some goofy back of the napkin calculation.
This post was edited on 5/16/19 at 9:30 am
Posted on 5/16/19 at 9:31 am to slackster
Bruh.
IRS 401(k) limits.
IRS 401(k) limits.
Posted on 5/16/19 at 9:31 am to slackster
Slack, wut?
How much do you think he can put into a 401k?
How much do you think he can put into a 401k?
Posted on 5/16/19 at 9:32 am to RedRifle
Why even include the 401K contribution in a summary like this? 
Posted on 5/16/19 at 9:32 am to hiltacular
quote:
Why even include the 401K contribution in a summary like this?
Millionaires gotta save for retirement too, lol
Posted on 5/16/19 at 11:15 am to AlonsoWDC
quote:
I'll never understand how he isn't allowed to have political or social opinions because he's great at basketball.
Bet you want it both ways.
?
Who said he's not allowed to have opinions?
Posted on 5/16/19 at 2:44 pm to TthomasJR
quote:
Slack, wut?
How much do you think he can put into a 401k?
$55,000 in 2018 and $56,000 in 2019.
Supposedly the NBA matches 140% of a player's contribution, so in 2019 that's another $26,600. Steph's contribution would be $19,000, leaving him the ability to contribute $10,400 of after tax money, if the plan allows.
After tax contributions don't make sense for everyone in every situation, but they very likely do for an NBA player. They're handled through payroll deductions just like a regular contribution, and if you're going to include traditional contributions in a graphic like this, after tax deductions make sense to include as well.
Posted on 5/16/19 at 2:49 pm to Weagle25
quote:
Because Lebron is just an everyday NBA player right?
At this point, yeah.
Posted on 5/16/19 at 2:59 pm to Bunk Moreland
quote:
Bruh.
IRS 401(k) limits.
I know what the limits are.
Posted on 5/16/19 at 3:42 pm to RedRifle
What is the escrow for in that? I know what escrow is for with my mortgage, but what is it for in contracts like that?
Posted on 5/16/19 at 3:56 pm to SDVTiger
100 bucks says you never been to San Francisco. Nice place to visit and if you can afford to live in the best spots then you got it made
Posted on 5/16/19 at 4:07 pm to RedRifle
Don't they have to pay taxes in each state they play in and their income is based on the contract value broken down by games and how many you played in X state?
Posted on 5/16/19 at 4:19 pm to yatesdog38
it appears they have a defined benefit plan, I'd doubt they also have a defined contribution plan/401k. From my experience they most likely would utilize a SEP IRA which is $56k max contribution.
Posted on 5/16/19 at 4:37 pm to yatesdog38
quote:
it appears they have a defined benefit plan, I'd doubt they also have a defined contribution plan/401k. From my experience they most likely would utilize a SEP IRA which is $56k max contribution.
They've got both.
Benefits in Collective Bargaining Agreement
Posted on 5/16/19 at 4:43 pm to RedRifle
and it’s thanks to the Democratic Party. It’s nothing more than legal theft to take THAT large of a percentage and the sad thing is to them it’s still not enough. If they truly had their way it would be closer to 80-90% taxed.
Punishing people for being financially successful in life is disgusting.
Punishing people for being financially successful in life is disgusting.
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