Tenacious D Posted October 27, 2022 Share Posted October 27, 2022 During the Michigan Gubernatorial debate this week, Big Gretch did promise to fix the “damn fence,” so that has to be encouraging if she’s re-elected. Quote Link to comment Share on other sites More sharing options...
Tiger337 Posted October 27, 2022 Share Posted October 27, 2022 1 hour ago, Motor City Sonics said: Oh I think it does. Players financial futures rise and fall on big numbers and home runs mean more money than flyouts and doubles. If you give them a $200 million contract, their financial future will be fine. Quote Link to comment Share on other sites More sharing options...
Tiger337 Posted October 27, 2022 Share Posted October 27, 2022 16 minutes ago, Tenacious D said: During the Michigan Gubernatorial debate this week, Big Gretch did promise to fix the “damn fence,” so that has to be encouraging if she’s re-elected. Unless you're a pitcher! Quote Link to comment Share on other sites More sharing options...
Tenacious D Posted October 27, 2022 Share Posted October 27, 2022 7 minutes ago, Tiger337 said: Unless you're a pitcher! well, since strikeouts are fascist, I don't think she cares. Quote Link to comment Share on other sites More sharing options...
Edman85 Posted October 27, 2022 Share Posted October 27, 2022 David Stearns stepping down in Milwaukee and James Click's contract expiring in Houston. Reading between the lines, I wouldn't be stunned if Click was brought in as GM. Quote Link to comment Share on other sites More sharing options...
buddha Posted October 27, 2022 Share Posted October 27, 2022 2 hours ago, Tiger337 said: If you give them a $200 million contract, their financial future will be fine. almost any baseball player who gets to arbitration should have enough money to live on with some sensible investments. its now $700k per year at the minimum. invest that in some rental properties and you have a nice nest egg for your future. but young people gonna do what young people gonna do... 1 Quote Link to comment Share on other sites More sharing options...
oblong Posted October 27, 2022 Share Posted October 27, 2022 are you saying if a guy gets to $700K a year they should be set via a nest egg? I disagree. Half of that is gone for taxes and other fees. I don't think Eric Haase is set for life if he never plays another MLB game. 1 Quote Link to comment Share on other sites More sharing options...
romad1 Posted October 27, 2022 Share Posted October 27, 2022 37 minutes ago, oblong said: are you saying if a guy gets to $700K a year they should be set via a nest egg? I disagree. Half of that is gone for taxes and other fees. I don't think Eric Haase is set for life if he never plays another MLB game. He did say invest in rental properties. So that’s an income investment. The other side of that is that you are the feudal overlord for your renters. Quote Link to comment Share on other sites More sharing options...
Jim Cowan Posted October 27, 2022 Share Posted October 27, 2022 Get serious, my first $700,000 is going to go on gold chains and pickup trucks. Quote Link to comment Share on other sites More sharing options...
mtutiger Posted October 27, 2022 Share Posted October 27, 2022 2 hours ago, Edman85 said: David Stearns stepping down in Milwaukee and James Click's contract expiring in Houston. Reading between the lines, I wouldn't be stunned if Click was brought in as GM. Here? Quote Link to comment Share on other sites More sharing options...
1984Echoes Posted October 27, 2022 Share Posted October 27, 2022 1 hour ago, Jim Cowan said: Get serious, my first $700,000 is going to go on gold chains and pickup trucks. Too bad you're not in 'Murica where your first $700K could go to gold chains, a pickup truck, a gilded bible collection and an AR-15/ Glock/ body armor/ nuclear fallout shelter/ military weapons collection. So... "deprived" ... north of the border. Quote Link to comment Share on other sites More sharing options...
1984Echoes Posted October 27, 2022 Share Posted October 27, 2022 PS: Not interested in diamond earrings? Quote Link to comment Share on other sites More sharing options...
Edman85 Posted October 27, 2022 Share Posted October 27, 2022 30 minutes ago, mtutiger said: Here? Yes. That is what I read between the lines when Harris said he hasn't started interviewing candidates. Quote Link to comment Share on other sites More sharing options...
buddha Posted October 27, 2022 Share Posted October 27, 2022 2 hours ago, oblong said: are you saying if a guy gets to $700K a year they should be set via a nest egg? I disagree. Half of that is gone for taxes and other fees. I don't think Eric Haase is set for life if he never plays another MLB game. no. i said if a guy plays on the minimum for three years and gets to his arb years he could be set for life if he invests his money well, or even not so well. three years at 700k plus one year at a slight raise over 700k? you could totally live on that if you invested wisely. buy a franchise. invest in some properties. heck, invest in some properties and then get a coaching gig. but you'd have to live an average lifestyle as a ballplayer, which many young people dont do. i have a relative who is a boxer. boxed a few fights. made it to tv as the designated victim for a younger fighter a few times. made an ok payday. then used the money to buy a gym in mexico and now he trains fighters, but has some income from the gym. he'll never be rich, but he's got an income stream for himself. ballplayers will make much much more money than that and can use it to set themselves up for a comfortable life if they want. Quote Link to comment Share on other sites More sharing options...
Edman85 Posted October 27, 2022 Share Posted October 27, 2022 The Tigers signed Miguel Del Pozo, their first free agent signing of the offseason. He hit HA early as a twice outrighted guy. Quote Link to comment Share on other sites More sharing options...
Shinzaki Posted October 27, 2022 Share Posted October 27, 2022 Play 10 years and you reach the pension max of 90k per year which you can draw on when you're 62. Assuming you pile social security on on top of that, you could live a decent life w/o any savings or investments from our MLB earnings Quote Link to comment Share on other sites More sharing options...
CMU97 Posted October 27, 2022 Share Posted October 27, 2022 30 minutes ago, Shinzaki said: Play 10 years and you reach the pension max of 90k per year which you can draw on when you're 62. Assuming you pile social security on on top of that, you could live a decent life w/o any savings or investments from our MLB earnings The max pension draw after 10 years of service time is currently $220,000 er year. BUT, just 6% of players ever make it to 10 years service time. After 43 days service time, you qualify for the lowest partial pension, which currently is $9,000 at age 62. After 1 day of service time, you qualify for lifetime medical benefits. Quote Link to comment Share on other sites More sharing options...
mtutiger Posted October 27, 2022 Share Posted October 27, 2022 3 hours ago, Edman85 said: Yes. That is what I read between the lines when Harris said he hasn't started interviewing candidates. I would be a fan lol Quote Link to comment Share on other sites More sharing options...
sabretooth Posted October 28, 2022 Share Posted October 28, 2022 3 hours ago, CMU97 said: The max pension draw after 10 years of service time is currently $220,000 er year. BUT, just 6% of players ever make it to 10 years service time. After 43 days service time, you qualify for the lowest partial pension, which currently is $9,000 at age 62. After 1 day of service time, you qualify for lifetime medical benefits. Wow. That ain't chicken feed. Quote Link to comment Share on other sites More sharing options...
Tiger337 Posted October 28, 2022 Share Posted October 28, 2022 9 hours ago, Jim Cowan said: Get serious, my first $700,000 is going to go on gold chains and pickup trucks. Deuce didn't need gold chains.. He invested in real estate. he also didn't pay any taxes. 1 Quote Link to comment Share on other sites More sharing options...
oblong Posted October 28, 2022 Share Posted October 28, 2022 7 hours ago, buddha said: no. i said if a guy plays on the minimum for three years and gets to his arb years he could be set for life if he invests his money well, or even not so well. three years at 700k plus one year at a slight raise over 700k? you could totally live on that if you invested wisely. buy a franchise. invest in some properties. heck, invest in some properties and then get a coaching gig. but you'd have to live an average lifestyle as a ballplayer, which many young people dont do. i have a relative who is a boxer. boxed a few fights. made it to tv as the designated victim for a younger fighter a few times. made an ok payday. then used the money to buy a gym in mexico and now he trains fighters, but has some income from the gym. he'll never be rich, but he's got an income stream for himself. ballplayers will make much much more money than that and can use it to set themselves up for a comfortable life if they want. That I agree with. Jacob Turner runs a wealth management company. He writes about this. But he’s also reasonable. but it takes some careful planning up front. 1 Quote Link to comment Share on other sites More sharing options...
Tenacious D Posted October 28, 2022 Share Posted October 28, 2022 1 hour ago, oblong said: That I agree with. Jacob Turner runs a wealth management company. He writes about this. But he’s also reasonable. but it takes some careful planning up front. Turner said most of his professional income came from his signing bonus, which I suspect most players who make it to the show likely receive, too. Of course, those vary widely based on which pick and round they were drafted in. Quote Link to comment Share on other sites More sharing options...
Edman85 Posted October 28, 2022 Share Posted October 28, 2022 8 hours ago, Tenacious D said: Turner said most of his professional income came from his signing bonus, which I suspect most players who make it to the show likely receive, too. Of course, those vary widely based on which pick and round they were drafted in. Most players who make the show? No. Turner got a 4.7M bonus and (now not allowed) a major league deal with some guarantees. A very small fraction of draftees get that kind of bonus. Quote Link to comment Share on other sites More sharing options...
oblong Posted October 28, 2022 Share Posted October 28, 2022 Seeing the picture of the first installment of his bonus puts it in perspective. $1.9M. Nearly half taken in taxes. A friend of mine use to work in a check clearance outfit or a big local bank, which the Tigers used. He came across two players in the early 90's. One was $50K and the other was $80K. That's twice a week. Even that small amount still seems massive as these were not high caliber players and it was like 1993 or something. Quote Link to comment Share on other sites More sharing options...
chasfh Posted October 28, 2022 Author Share Posted October 28, 2022 34 minutes ago, oblong said: Seeing the picture of the first installment of his bonus puts it in perspective. $1.9M. Nearly half taken in taxes. A friend of mine use to work in a check clearance outfit or a big local bank, which the Tigers used. He came across two players in the early 90's. One was $50K and the other was $80K. That's twice a week. Even that small amount still seems massive as these were not high caliber players and it was like 1993 or something. What's twice a week? Quote Link to comment Share on other sites More sharing options...
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