how long could you make $40 million last?

24

Comments

  • RW81233
    RW81233 Posts: 2,393
    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
    catefrances Posts: 29,003
    probably forever considering id just be living off the interest.
    hear my name
    take a good look
    this could be the day
    hold my hand
    lie beside me
    i just need to say
  • dcfaithful
    dcfaithful Posts: 13,076
    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:
    7/2/06 - Denver, CO
    6/12/08 - Tampa, FL
    8/23/09 - Chicago, IL
    9/28/09 - Salt Lake City, UT (11 years too long!!!)
    9/03/11 - East Troy, WI - PJ20 - Night 1
    9/04/11 - East Troy, WI - PJ20 - Night 2
  • chadwick
    chadwick up my ass Posts: 21,157
    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
    for poetry through the ceiling. ISBN: 1 4241 8840 7

    "Hear me, my chiefs!
    I am tired; my heart is
    sick and sad. From where
    the sun stands I will fight
    no more forever."
    Chief Joseph - Nez Perce
  • catefrances
    catefrances Posts: 29,003
    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???
    hear my name
    take a good look
    this could be the day
    hold my hand
    lie beside me
    i just need to say
  • Phantom Pain
    Phantom Pain Posts: 9,876
    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
    My drinking team has a hockey problem

    The ONLY thing better than a glass of beer is tea with Miss McGill



    A protuberance of flesh above the waistband of a tight pair of trousers
  • DS1119
    DS1119 Posts: 33,497
    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
    EZ1221C Posts: 2,645
    I could make 40 mil last a long time, until the next PJ tour. Then I would blow it all. 8-)
    PLAY THE SOUTH
  • chadwick
    chadwick up my ass Posts: 21,157
    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
    for poetry through the ceiling. ISBN: 1 4241 8840 7

    "Hear me, my chiefs!
    I am tired; my heart is
    sick and sad. From where
    the sun stands I will fight
    no more forever."
    Chief Joseph - Nez Perce
  • catefrances
    catefrances Posts: 29,003
    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.
    hear my name
    take a good look
    this could be the day
    hold my hand
    lie beside me
    i just need to say
  • chadwick
    chadwick up my ass Posts: 21,157
    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
    for poetry through the ceiling. ISBN: 1 4241 8840 7

    "Hear me, my chiefs!
    I am tired; my heart is
    sick and sad. From where
    the sun stands I will fight
    no more forever."
    Chief Joseph - Nez Perce
  • Phantom Pain
    Phantom Pain Posts: 9,876
    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

    ;):lol:
    My drinking team has a hockey problem

    The ONLY thing better than a glass of beer is tea with Miss McGill



    A protuberance of flesh above the waistband of a tight pair of trousers
  • catefrances
    catefrances Posts: 29,003
    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

    ;):lol:


    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.
    hear my name
    take a good look
    this could be the day
    hold my hand
    lie beside me
    i just need to say
  • rollings
    rollings unknown Posts: 7,127
    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
    chadwick up my ass Posts: 21,157
    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
    for poetry through the ceiling. ISBN: 1 4241 8840 7

    "Hear me, my chiefs!
    I am tired; my heart is
    sick and sad. From where
    the sun stands I will fight
    no more forever."
    Chief Joseph - Nez Perce
  • rollings
    rollings unknown Posts: 7,127
    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
    chadwick up my ass Posts: 21,157
    $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
    for poetry through the ceiling. ISBN: 1 4241 8840 7

    "Hear me, my chiefs!
    I am tired; my heart is
    sick and sad. From where
    the sun stands I will fight
    no more forever."
    Chief Joseph - Nez Perce
  • neilybabes86
    neilybabes86 Posts: 16,057
    a lifetime


    just don't go super crazy with it and invest in alot of property ...
    i post on the board of a band that doesn't exsist anymore .......i need my head examined.......
  • catefrances
    catefrances Posts: 29,003
    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.
    hear my name
    take a good look
    this could be the day
    hold my hand
    lie beside me
    i just need to say
  • Dissidentman
    Dissidentman Posts: 15,381
    Pretty sure I could get 6-8 months out of that amount of cash.

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