Recruiting?
- Thread starter CatCoach
- Start date
Well considering we get most of our wrestlers from sebolt this might be a bad thing.
M* was with Fellers and Sebolt at junior duals. Sebolt loves M*.
I don’t think that would affect his view negatively on this situation.
We have the biggest diversity in college wrestling, unfortunately it's the category of people we don't get along with.
Fellers also said that Iowa will offer Bo Bassett $750K -$1 million per year. Wow!
I suspect Blaze commands a large offer but I think Fellers and Willie put Bassett in a class by himself when you take into consideration his marketability. He’s been building his brand for years.
If this surprises you, you're not paying enough attention.
That’s amazing, especially when compared to the payout for Olympic gold.
Wrestle in college, graduate, retire. Bank principal. Live off the $200,000 to $400,000/year interest. The end.
Assuming he gets the full 1M per year for four years and touches none of it, please tell me where he is going to get a safe and consistent return of $200,000 - $400,000 per year interest so he can retire after graduating?
$200,000 is five percent of 4 million. There are savings accounts offering 4.75%. Any type of investment vehicle should earn between 5-10% annually, eh?
My 1975 summer as a rising HS senior wrestler (119) was spent worrying how much under-the-table cash I could earn helping a landscaper cut large yards with only a pushmower. These days, Bo and others are deciding if they’ll be buying a new house for their parents in a year or so. Endless online self-promotion or not, I say good for them.
We were in an upside down market (also a sign of a recession coming) that won't last. Before the start of the year you could get an annual CD's at 5%. Short term actually paid much better than long term during that time. More than that and you start with some level of risk and just take a look at the market now. I'm not saying he couldn't have a nice little nest egg - but retiring on it is not likely with market volatility and the need for toys.
Historical averages on investments are around 10%. A CD is considered a low risk, low return investment. He would be fine to retire on 4 million unless he spent money like a maniac. Most people will not make $4mil in there entire working career.
Really depends on what political party controls the country over the next 10-20 years. Really sucks that there are these radical swings now in investment returns and the health of the economy that can happen every 4 years. These are bizarre times, don’t think we can go on historical data to predict what will happen with the market over the next 10-20 years.
Well, we have to agree to disagree on this one then. Not many people retire with a $4,000,000 nest egg. I’m guessing that would be in the top 10% of citizens in the U$.
Edit: Ten % of U$ retirees have a nest egg of $1,000,000. That four million puts you near the top 0.1 % of people in this country.
Inflation. Your CD is earning 5%, but inflation is 3%. Inflation will erode that $4M over a long retirement. A mix of stocks and bonds, over 40 years or so, would provide an inflation adjusted income of maybe $140k with a starting value of $4M.
I also wouldn’t plan on 10% a year going forward.
I'm not really disagreeing with you - I just don't think you could or should plan on a regular steady return over what should be a retirement period of 50+ years. Most retirements are for 10-15 years or so with all of the major purchases already done. There will be plenty of years where unless you are in low interest gauranteed type investmensts, you are likley to have very minimal returns and even lose money.
Retirement at age 22 is a long time for that money to last. I’m sure he would never do that, doesn’t seem lazy
I used this helpful calculator for planning my early retirement.
https://www.financialmentor.com/calculator/best-retirement-calculator
Looks to me like Bo could retire at 23 with 4 mil assuming a 3% annualized principal balance return on investment, 3% dividends/capital gains (taking those as income), 3.8% inflation (avg over past 50 years), and 125k expenses.
https://www.financialmentor.com/calculator/best-retirement-calculator
Looks to me like Bo could retire at 23 with 4 mil assuming a 3% annualized principal balance return on investment, 3% dividends/capital gains (taking those as income), 3.8% inflation (avg over past 50 years), and 125k expenses.
Beginning with a $4M number is in error. After federal and state taxes, that $4M in income is $2M. You can start there.
That's A LOT of money! Iowa needs to do this to gain some traction. Bo will help bring in other top kids I believe.
Right now you can put that in high yield savings account that pays nearly 5% per year. 5% on 4 million is 200k.
Unfortunately for us I think the Bassetts are already loaded, considering they have a freaking wrestling room in their basement.
Just noticed the reminder of taxes, so cut that number in a 1/3. Although you could probably manage to better than 5% returns too.
Of course people will argue with everything on here but 5mm in the bank (yes, not income but after taxes) will garner about 200k a year...his point remains
Where did the extra 1-2 million come from?
How much income was earned in the bank from 2008 through 2022?
I’ll answer, literally nothing.
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Not to mention reinvestment risk and sequence of returns. This entire conversation is silly.
Lots of rubes trying to measure dicks. My favorite was the invention of a hypothetical scenario and thinking that proved an earlier point.
Having any millions at all will set you up pretty damn well at age 22. Case closed
It almost makes sense. Bo would worshipped by the biggest and best fan base in college wrestling; a savior. But he would just be another cog in the PSU machine.
