Broke his leg, so yeah... Going to be rehabbing for a while longer. Really a bummer because he was starting to figure some things out in 2019-2020, and by all accounts he was a great teammate in GSW.
Even if his career is over, he has done well for himself. With just average to below average investments he should be set for life. Basketball has been so good to him in many ways. I truly wish him only the best. I hope he is able to make his money make money.
People say this all the time when this happens but there's always a tinge of thinly-disguised schaudenfreude like the movie "Broke". NBA salary is nice but...it's temporary and then it ends and the guys are spit out. First, yes Marquise Chriss made millions of dollars, that's pretty awesome! Way more awesome than what most peole are doing But, assuming his playing career is over, he just had his peak earnings ever at ages...18-23. Every single year for the next 60 years of his life he will be making a tiny fraction of that. That's a huge mental downer, especially given his likely expectations Second, it's not like he made a billion or even a hundred million dollars - his rookie scale contract + his minimum contract netted him. 10.1 million dollars over 4 years. After tax, it's probably closer to $6 milllion over 4 years. That's hardly "set for life, never work again" money at age 23 unless you live extremely modestly and basically have no kids. He probably spent close to half of it or more already becauase most of these guys grow up without a ton of resources, with very little formal education, and with tons of relative to support once they start getting paid, plus a lot of peer pressure to live the NBA lifestyle. My guess is that like 99% of all 18 year olds, he didn't plan for the eventuality and read a bunch of dumb 50-year old dad personal finance books.
I should not be happy for the next lottery winners because the statistics say the same about them, too? Basketball has been very good to him. He a achieve goals that most only dream of. Being drafted in the lottery, making a professional team, traveling to play a game in front of audiences (paying audiences). He has worked so hard to get here. Job well done. His life has been the perfect storm to get where he is along with his hard work. Think of all his teammates that didn’t make the cuts over the YEARS. It’s okay to celebrate that and wish him well —> His financial situation is his; nothing but the best to him. random thought... most don’t have the same employment from twenties as they mature into adulthood. What he is going through is just part of life.
He's been recovering from a broken leg. He had a decent season last year with the Warriors with a positive VORP and BPM. Assuming he can recover from the injury then he has a good future ahead of him as a backup big.
Do you know him? What are you base your thoughts on? Well by your math he should should have 2M left. Your number @ 3% annual return is $60,000 a year. Your right his lifestyle would need to change, but is a more than livable wage. Clear 4,000/month with 20% going to taxes. Please re-read the last sentence of my post.
My player valuation abilities are unparalleled. Please take note, everyone who thinks I'm too critical of alleged future star KPJ.
that is below the us median per capita income sounds like he's set for life! Just needs to buy "rich dad poor dad".... I don't really care that much about his exact circumstances but it's pretty illuminating how the average fan thinks about how much money fringe nba players,even high draft picks make , vs the reality
I am done, the average household income in the United States is +/-55k a year. He’s set to make 60k using your numbers (if he stops and does nothing else ever). You not knowing this shows your reality. Only the best to you.
All of which you said is true. You could potentially put 3 million into 5-6 high income/dividend ETF's that would pay you out an average of $20,000 a month before taxes. That is a lot of damn money. $5000 a week or so to live on without even working.
He’s very likely going to be able to play basketball again. He seems like a pretty nice guy and comes from a good family. If I’m betting then I’d expect him to be able to get another decent NBA contract after he recovers. And yes that amount of money at that age makes you set for life even if he only invested 10% of what he made. No it's not **** you money, but you are so far ahead of every other 23 year old that it might as well be called being set for life. Additionally, he can work and does seem to know how quickly things can be taken from you in the NBA. He isn't clueless.
