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Old 08-01-2017, 03:36 AM
 
Location: Pennsylvania
8,971 posts, read 3,118,603 times
Reputation: 7052

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Quote:
Originally Posted by Lowexpectations View Post
Needing to be saved from yourself doesn't make an investment or deferred comp a good deal it just means you were possibly too irresponsible to handle your money properly. If other options could provide a better return it's not a good investment decision
Turning 5.9 million into 25 million is a good investment decision.
You can argue until your blue in the face, but it doesn't change the numbers or the situation.
You are wrong.
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Old 08-01-2017, 08:30 AM
 
Location: Union City, NJ
1,202 posts, read 683,230 times
Reputation: 1746
Quote:
Originally Posted by Lowexpectations View Post
Needing to be saved from yourself doesn't make an investment or deferred comp a good deal it just means you were possibly too irresponsible to handle your money properly. If other options could provide a better return it's not a good investment decision

Financial decisions can be subjective. In Iverson's case, it was clearly the best choice for him.

As another example, some people do better with managing debt with fixed installment loans vs credit cards. Sure, you can get 0% interest on a credit card vs 7-8% on a personal loan. But can you resist the temptation of charging more to your card? Some people can't. In those cases, the math does not matter as much as the psychology when considering what you want the end result to be.
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Old 08-01-2017, 10:21 AM
 
17,618 posts, read 12,203,533 times
Reputation: 12856
Quote:
Originally Posted by BeerGeek40 View Post
Turning 5.9 million into 25 million is a good investment decision.
You can argue until your blue in the face, but it doesn't change the numbers or the situation.
You are wrong.
You actually can't answer if it's a good deal until it's over. Say the market returns 15% a year every year until his payout is done then it might not be a good deal. You can't say it's a good deal only by looking at a portion of it
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Old 08-01-2017, 10:23 AM
 
17,618 posts, read 12,203,533 times
Reputation: 12856
Quote:
Originally Posted by HudsonCoNJ View Post
Financial decisions can be subjective. In Iverson's case, it was clearly the best choice for him.

As another example, some people do better with managing debt with fixed installment loans vs credit cards. Sure, you can get 0% interest on a credit card vs 7-8% on a personal loan. But can you resist the temptation of charging more to your card? Some people can't. In those cases, the math does not matter as much as the psychology when considering what you want the end result to be.
A good deal shouldn't be subjective. If you were poor at handling your money and took 100mm from you only to give it back to you 100mm it's not a good deal just because you would have blown it. It's a poor deal financially speaking

Again if you have bad financial behavior it doesn't make make subpar choices good financial decisions. It may provide a better outcome but not because it was the best financial move
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Old 08-01-2017, 10:37 AM
 
17,618 posts, read 12,203,533 times
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If you received 5.9mm in 1999 and invested with 6% annual returns in 2035 it would be worth 48mm, 8% would be 96mm. You don't have enough data at this point to tell if the deal is good. At this point Bobby has received 8.33mm, 5.9mm invested in 99 with a 4% return would be 11.6mm, a 6% return would be 16.3mm and 8% would be 22.8mm today. Fwiw from 01/2000-06/2017 the s&p 500 return with dividends reinvested is a touch over 5% which would put you at 13.8mm
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Old 08-14-2017, 03:35 PM
 
9,302 posts, read 11,142,948 times
Reputation: 12470
Quote:
Originally Posted by BeerGeek40 View Post
Didn't know that. A.I. must have had a good advisor, because you're right - he needed to be saved from himself. One of the bigger knuckleheads ever to play pro sports.
How Allen Iverson Was Saved By Reebok From Going Broke - Basketball Forever

ironically he promised that reebok account to his wife so she would take him back.....if he cheated/gambled/used drugs she would get to keep it. Any guesses on what happened next?

https://www.kicksonfire.com/allen-iv...-find-out-why/

She was nice enough to give him "HALF" of it back!

Neither can access it until 2030.....bet his sits home counting X's on the walls like a prisoner waiting to be free!
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Old 07-01-2018, 10:44 AM
 
Location: Pennsylvania
8,971 posts, read 3,118,603 times
Reputation: 7052
It's here again!

https://www.yahoo.com/sports/time-ce...231123289.html
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Old 07-01-2018, 01:10 PM
 
Location: 5,400 feet
2,199 posts, read 2,271,121 times
Reputation: 2840
Bonilla has also saved money on income tax. Top rate in 1999 was 39.6%. In 2011, the top rate was 35%, which went to 39.6% in 2013, to 37% in 2018.
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Old 07-01-2018, 05:44 PM
 
Location: Cebu, Philippines
2,168 posts, read 797,279 times
Reputation: 4348
How much of a dent is that million going to put in the Mets payroll in 2035? They're paying more than that now to middle relievers who mop up blowouts.

By the way, Bonilla has been one of my heroes ever since I saw him play third base in the 1997 WS. Tough, gritty, inspirational, playing hurt at an unusual position, making crucial plays in a dirty uniform. As I recall, he came up as a rookie alongside Barry Bonds. I'll take Bonilla.
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Old 07-03-2018, 10:33 AM
 
1,470 posts, read 1,386,390 times
Reputation: 1983
Quote:
Originally Posted by cebuan View Post
How much of a dent is that million going to put in the Mets payroll in 2035? They're paying more than that now to middle relievers who mop up blowouts.

By the way, Bonilla has been one of my heroes ever since I saw him play third base in the 1997 WS. Tough, gritty, inspirational, playing hurt at an unusual position, making crucial plays in a dirty uniform. As I recall, he came up as a rookie alongside Barry Bonds. I'll take Bonilla.
Bonilla grew up in my neighborhood and attended the local public high school. He's an utter jerk. He married his HS sweetheart, and left her mother living in the projects. Not my kind of guy-- you have the money to set her up in a small home. After his divorce, he allegedly hid assets. On the plus side, his ex is entitled to half of his yearly Mets payout.
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