All Hokie, All the Time. Period.

Virginia Tech Football Board

EDGEMAN

Joined: 1/5/01 Posts: 88362
Likes: 11786


As long as he knows how to manage his money, $5.5M is plenty


Now if you take the approach of way too many pro athletes, you can blow through $5.5M in no time flat. Look at MV1's finances when he went to prison. Not only was he practically broke, he owed millions. That is NOT the way to manage your money, especially when you've made millions.

Universities teach courses in how to manage your money, and I think it should be mandatory for anyone receiving a VT degree. Would guess VT offers several of these courses, in different colleges. I know the Business school has one, but would be surprised if other VT colleges offer it too.

People need to understand if they buy an expensive luxury automobile, not only will it depreciate quickly and massively, the cost of ownership in insurance and personal property taxes each year is huge.

For example, if you invested that money you would spend on a luxury automobile into the market when you're in your 20s, you would be able to buy 10, 20...maybe even 50 of those cars when you hit your 60s.


[Post edited by EDGEMAN at 05/14/2019 07:56AM]

(In response to this post by TekkNerd)

Posted: 05/14/2019 at 07:54AM



+2

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Current Thread:
  Probably has other stuff to do with his life -- Tombo 05/14/2019 2:23PM
  FWIW players have to remain in the NFL for 5 years before -- VTHokie2000 05/14/2019 12:04PM
  4 years ** -- BROman Hokie 05/14/2019 4:03PM
  If he's walking away from 800k there is a good reason ** -- typed by ben 05/14/2019 06:46AM
  Did they indicate any specific reason? ** -- hokie80 05/13/2019 11:32PM
  Gave no reason at all. ** -- Hoakie82 05/13/2019 11:41PM

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