how long could you make $40 million last?

RW81233

Johnny Abruzzo wrote:

I don't see how anyone can make excuses for these people. Making $40M (even $20M after taxes & agents and whatever) and blowing it in 5 years is complete and utter stupidity.

I'm not making an excuse for this particular person. If he screwed up he screwed up. What I am saying is that this story shouldn't be shocking - especially if 80 percent of former NFL players are going bankrupt. Isn't that evidence of a systemic issue more than a personal issue? If it is systemic, and I believe it is, then I believe it makes more sense to change the system than sitting around not "getting" how someone could blow through money like that.

catefrances

probably forever considering id just be living off the interest.

dcfaithful

I'm confident I could make $40 million last my entire life.

I'd buy a house, nothing elaborate, not even 5 bedrooms because I have no need for that.

I'd keep my Honda civic that is still going strong today and is a really nice car.

I'd help out a lot of my family.

How the fuck do you blow that much money?

More money more problems? :roll:

chadwick

BinauralJam wrote:

But how can you have to pay $11,000.00 a month in child support? what the hell does this kid eat?

$11,000.00 a month child support. ok, let us iron this out a bit.

$11 grand a month X 12 month = $132,000.00
($132,000.00)18 years = 2,376,000

what is thefather making annually?
let's say he's worth $8,000,000 every 12 months
$8,000,000/12 months = $666,666.67 per month

he pays the kid $11,000.00 monthly
he gets paid $666,666.67 (if my math is correct here.
$655,666.67 is his monthly net worth payment after child support

im no math wiz... we need a math pro here
what is the % he pays into child support?

$11,000.00(60) = $660,000.00
a shade under his monthly salary of $666,666.67 ($6,666.67 difference)
the kid's 11 grand is 60X smaller than his father's pay check

catefrances

BinauralJam wrote:

But wouldn't you buy some land, and a house and a couple of cars, jewerly, ya know assets, you could then turn around and sell in case the shit ever hit the fan.

you can do that with just the interest. and unless those cars are vintage theyll depreciate the second you drive them off the lot.. and why a couple??? i have no use for jewellery. and how much land you planning on buying???

Phantom Pain

chadwick wrote:

BinauralJam wrote:

But how can you have to pay $11,000.00 a month in child support? what the hell does this kid eat?

$11,000.00 a month child support. ok, let us iron this out a bit.

$11 grand a month X 12 month = $132,000.00
($132,000.00)18 years = 2,376,000

what is thefather making annually?
let's say he's worth $8,000,000 every 12 months
$8,000,000/12 months = $666,666.67 per month

he pays the kid $11,000.00 monthly
he gets paid $666,666.67 (if my math is correct here.
$655,666.67 is his monthly net worth payment after child support

im no math wiz... we need a math pro here
what is the % he pays into child support?

$11,000.00(60) = $660,000.00
a shade under his monthly salary of $666,666.67 ($6,666.67 difference)
the kid's 11 grand is 60X smaller than his father's pay check

Lets be honest its about maintaining the same or close to the same lifestyle the wife had

The kid himself doesn't need a 11K a month

DS1119

RW81233 wrote:

Johnny Abruzzo wrote:

I don't see how anyone can make excuses for these people. Making $40M (even $20M after taxes & agents and whatever) and blowing it in 5 years is complete and utter stupidity.

I'm not making an excuse for this particular person. If he screwed up he screwed up. What I am saying is that this story shouldn't be shocking - especially if 80 percent of former NFL players are going bankrupt. Isn't that evidence of a systemic issue more than a personal issue? If it is systemic, and I believe it is, then I believe it makes more sense to change the system than sitting around not "getting" how someone could blow through money like that.

I don't know how relevant this is but Donald Trump has filed for bankruptcy four times. Doesn't mean he's broke and doesn't make him ignorant or stupid. He may actually be the most brilliant business man of my time.

EZ1221C

I could make 40 mil last a long time, until the next PJ tour. Then I would blow it all. 8-)

chadwick

Phantom Pain wrote:

chadwick wrote:

BinauralJam wrote:

But how can you have to pay $11,000.00 a month in child support? what the hell does this kid eat?

$11,000.00 a month child support. ok, let us iron this out a bit.

$11 grand a month X 12 month = $132,000.00
($132,000.00)18 years = 2,376,000

what is thefather making annually?
let's say he's worth $8,000,000 every 12 months
$8,000,000/12 months = $666,666.67 per month

he pays the kid $11,000.00 monthly
he gets paid $666,666.67 (if my math is correct here.
$655,666.67 is his monthly net worth payment after child support

im no math wiz... we need a math pro here
what is the % he pays into child support?

$11,000.00(60) = $660,000.00
a shade under his monthly salary of $666,666.67 ($6,666.67 difference)
the kid's 11 grand is 60X smaller than his father's pay check

Lets be honest its about maintaining the same or close to the same lifestyle the wife had

The kid himself doesn't need a 11K a month

yes that's the ticket...keeping the same lifestyle the family has come acustom too

catefrances

Phantom Pain wrote:

chadwick wrote:

BinauralJam wrote:

But how can you have to pay $11,000.00 a month in child support? what the hell does this kid eat?

$11,000.00 a month child support. ok, let us iron this out a bit.

$11 grand a month X 12 month = $132,000.00
($132,000.00)18 years = 2,376,000

what is thefather making annually?
let's say he's worth $8,000,000 every 12 months
$8,000,000/12 months = $666,666.67 per month

he pays the kid $11,000.00 monthly
he gets paid $666,666.67 (if my math is correct here.
$655,666.67 is his monthly net worth payment after child support

im no math wiz... we need a math pro here
what is the % he pays into child support?

$11,000.00(60) = $660,000.00
a shade under his monthly salary of $666,666.67 ($6,666.67 difference)
the kid's 11 grand is 60X smaller than his father's pay check

Lets be honest its about maintaining the same or close to the same lifestyle the wife had

The kid himself doesn't need a 11K a month

youre right, a kid doesnt need 11K a month but why shouldnt he/she be entitled if the noncustodial parent can afford it. seems fair to me.

chadwick

catester, it is very fare. infact its farelly cheap when knowing the father makes 60X's the kid's monthly child support check each and every month

if he made $30,000 a year the kid would get what each month, using my fantastic formula?
$2,500.00 monthly for dad
the kid @ $41.66

41.66 is 60X's less than the old man 2500

Phantom Pain

catefrances wrote:

youre right, a kid doesnt need 11K a month but why shouldnt he/she be entitled if the noncustodial parent can afford it. seems fair to me.

Obviously he cant afford it

catefrances

Phantom Pain wrote:

catefrances wrote:

youre right, a kid doesnt need 11K a month but why shouldnt he/she be entitled if the noncustodial parent can afford it. seems fair to me.

Obviously he cant afford it

true that. i wouldve gone for a lump sum up front based on the remaining childhood of the child. least the kid wouldnt be disadvantaged by his/her fathers change of fortune.

rollings

chadwick wrote:

BinauralJam wrote:

But how can you have to pay $11,000.00 a month in child support? what the hell does this kid eat?

$11,000.00 a month child support. ok, let us iron this out a bit.

$11 grand a month X 12 month = $132,000.00
($132,000.00)18 years = 2,376,000

what is thefather making annually?
let's say he's worth $8,000,000 every 12 months
$8,000,000/12 months = $666,666.67 per month

he pays the kid $11,000.00 monthly
he gets paid $666,666.67 (if my math is correct here.
$655,666.67 is his monthly net worth payment after child support

im no math wiz... we need a math pro here
what is the % he pays into child support?

$11,000.00(60) = $660,000.00
a shade under his monthly salary of $666,666.67 ($6,666.67 difference)
the kid's 11 grand is 60X smaller than his father's pay check

11,000 a month for someone who does make 8 million a year is 1.65% on child support.
Seems a little light.

chadwick

Rollings wrote:

11,000 a month for someone who does make 8 million a year is 1.65% on child support.
Seems a little light.

this here folks is what i was looking for, a smart person. this ball player dude pays 1.65% of his salary to his kid.
that is ridiculous considering he's a multi millionaire. it doesn't work like this with your average family.

thank you, brainwave- Sir

rollings

chadwick wrote:

Rollings wrote:

11,000 a month for someone who does make 8 million a year is 1.65% on child support.
Seems a little light.

this here folks is what i was looking for, a smart person. this ball player dude pays 1.65% of his salary to his kid.
that is ridiculous considering he's a multi millionaire. it doesn't work like this with your average family.

thank you, brainwave- Sir

you're welcome., she-lady record playerette

chadwick

$11,000(12months)=
=$132,000(18 years)=
=$2,376,000 ... from birth to 18 years

that would be nice to have @ 18yrs old
even if he and the mom only saved half
$2,376,000/2=
=$1,188,000 @ 18 if saved 1/2

the kid's kickin ass, the mom's kickin ass
the dad's kickin ass

the whole deal blows

neilybabes86

a lifetime


just don't go super crazy with it and invest in alot of property ...

catefrances

neilybabes86 wrote:

a lifetime


just don't go super crazy with it and invest in alot of property ...

yep.. i hear greece will be up for sale soon.

Dissidentman

Pretty sure I could get 6-8 months out of that amount of cash.