Gismo Posted January 16, 2015 Group: Member Topic Count: 417 Content Count: 9,687 Reputation: 1,237 Days Won: 8 Joined: 09/24/2009 Share Posted January 16, 2015 125k isn't that much when you consider these folks have zero job security. You can make 125 for 1-2 years then get axed... then you are GA'ing or coaching HS football for 2 years at 20k... They need more investment knowledge. It would help them retiree sooner rather than later. Then they can sit back and relax and have a cold one and tell their families about their old coaching stories. Just for yucks, take $125K, subtract 20% Fed Taxes, 3% State Taxes (not all coach in Florida), $2k/month for housing, $500/mo utilities and phone,$700/mo for autos/ins, $1k/mo groceries and dining out and you're down to about $46k. Got kids? Do they wear clothes, go to movies, private schools since you are moving a lot? Wish we were at $125k per year, but your investment person better be able to get 40% return to turn that $20 - 25k left over each year into something that will allow you to retire early. So you are assuming a spouse who doesn't work? Link to comment Share on other sites More sharing options...
JTrue Posted January 16, 2015 Group: Member Topic Count: 152 Content Count: 19,395 Reputation: 6,097 Days Won: 233 Joined: 01/13/2011 Share Posted January 16, 2015 125k isn't that much when you consider these folks have zero job security. You can make 125 for 1-2 years then get axed... then you are GA'ing or coaching HS football for 2 years at 20k... They need more investment knowledge. It would help them retiree sooner rather than later. Then they can sit back and relax and have a cold one and tell their families about their old coaching stories. Just for yucks, take $125K, subtract 20% Fed Taxes, 3% State Taxes (not all coach in Florida), $2k/month for housing, $500/mo utilities and phone,$700/mo for autos/ins, $1k/mo groceries and dining out and you're down to about $46k. Got kids? Do they wear clothes, go to movies, private schools since you are moving a lot? Wish we were at $125k per year, but your investment person better be able to get 40% return to turn that $20 - 25k left over each year into something that will allow you to retire early. So you are assuming a spouse who doesn't work? What kind of man would get married knowing he's dragging her down into the depths of poverty? Link to comment Share on other sites More sharing options...
slick1ru2 Posted January 16, 2015 Group: Member Topic Count: 554 Content Count: 14,411 Reputation: 439 Days Won: 13 Joined: 07/25/2008 Share Posted January 16, 2015 125k isn't that much when you consider these folks have zero job security. You can make 125 for 1-2 years then get axed... then you are GA'ing or coaching HS football for 2 years at 20k... They need more investment knowledge. It would help them retiree sooner rather than later. Then they can sit back and relax and have a cold one and tell their families about their old coaching stories. Now that is funny coming from you, the guy who wants USF to dump untold millions into a stadium when obviously it's a bad investment at this point in time. LOL Link to comment Share on other sites More sharing options...
slick1ru2 Posted January 16, 2015 Group: Member Topic Count: 554 Content Count: 14,411 Reputation: 439 Days Won: 13 Joined: 07/25/2008 Share Posted January 16, 2015 Tough gig to be an assistant coach at the college and pro level. All you do is move every few years. Yep. I wonder how Chris Cosh dealt with the hardship of his $325,000 a year contract and subsequent turmoil of having to move to Texas for hundreds of thousands of more dollars. Yeah but for every Cosh there is some DB coach pulling 125k and living in an apartment. That is a heartbreaker. $125,000 only puts him in the top 15% of earners in the country. Or, 3x the average salary of a Tampa firefighter. I hope he has enough leftover each month to pay for groceries after rent on that apartment. http://youtu.be/DSiBx5NMhPM Link to comment Share on other sites More sharing options...
Dogma Posted January 16, 2015 Group: Member Topic Count: 303 Content Count: 5,550 Reputation: 866 Days Won: 21 Joined: 11/07/2009 Share Posted January 16, 2015 125k isn't that much when you consider these folks have zero job security. You can make 125 for 1-2 years then get axed... then you are GA'ing or coaching HS football for 2 years at 20k... They need more investment knowledge. It would help them retiree sooner rather than later. Then they can sit back and relax and have a cold one and tell their families about their old coaching stories. Just for yucks, take $125K, subtract 20% Fed Taxes, 3% State Taxes (not all coach in Florida), $2k/month for housing, $500/mo utilities and phone,$700/mo for autos/ins, $1k/mo groceries and dining out and you're down to about $46k. Got kids? Do they wear clothes, go to movies, private schools since you are moving a lot? Wish we were at $125k per year, but your investment person better be able to get 40% return to turn that $20 - 25k left over each year into something that will allow you to retire early. So, $46k leftover after expenses? That means your hypothetical person has an ENTIRE middle class salary before taxes in his checking account to scrape by on. That's before kids my friend. OH NO! 42K left after all bills and taxes paid to live with kids (On a single income household in this example, meaning no/very minimal daycare and other usual expenses that sometimes are required in a double income household.) THE HORROR!!! Link to comment Share on other sites More sharing options...
NewEnglandBull Posted January 17, 2015 Group: Member Topic Count: 1,518 Content Count: 42,125 Reputation: 8,834 Days Won: 344 Joined: 11/29/2009 Author Share Posted January 17, 2015 (edited) 125k isn't that much when you consider these folks have zero job security. You can make 125 for 1-2 years then get axed... then you are GA'ing or coaching HS football for 2 years at 20k...They need more investment knowledge. It would help them retiree sooner rather than later. Then they can sit back and relax and have a cold one and tell their families about their old coaching stories.Just for yucks, take $125K, subtract 20% Fed Taxes, 3% State Taxes (not all coach in Florida), $2k/month for housing, $500/mo utilities and phone,$700/mo for autos/ins, $1k/mo groceries and dining out and you're down to about $46k. Got kids? Do they wear clothes, go to movies, private schools since you are moving a lot? Wish we were at $125k per year, but your investment person better be able to get 40% return to turn that $20 - 25k left over each year into something that will allow you to retire early. So, $46k leftover after expenses? That means your hypothetical person has an ENTIRE middle class salary before taxes in his checking account to scrape by on.That's before kids my friend. OH NO! 42K left after all bills and taxes paid to live with kids (On a single income household in this example, meaning no/very minimal daycare and other usual expenses that sometimes are required in a double income household.) THE HORROR!!! NM Edited January 17, 2015 by NewEnglandBull Link to comment Share on other sites More sharing options...
Skingraft Posted January 17, 2015 Group: Member Topic Count: 743 Content Count: 13,357 Reputation: 2,482 Days Won: 63 Joined: 12/11/2006 Share Posted January 17, 2015 I once met a horror in Germany; €60 for few minutes of discussion; great way to start a night out Link to comment Share on other sites More sharing options...
The Great 8 Posted January 17, 2015 Group: Member Topic Count: 69 Content Count: 3,802 Reputation: 372 Days Won: 3 Joined: 09/21/2009 Share Posted January 17, 2015 125k isn't that much when you consider these folks have zero job security. You can make 125 for 1-2 years then get axed... then you are GA'ing or coaching HS football for 2 years at 20k... They need more investment knowledge. It would help them retiree sooner rather than later. Then they can sit back and relax and have a cold one and tell their families about their old coaching stories. Just for yucks, take $125K, subtract 20% Fed Taxes, 3% State Taxes (not all coach in Florida), $2k/month for housing, $500/mo utilities and phone,$700/mo for autos/ins, $1k/mo groceries and dining out and you're down to about $46k. Got kids? Do they wear clothes, go to movies, private schools since you are moving a lot? Wish we were at $125k per year, but your investment person better be able to get 40% return to turn that $20 - 25k left over each year into something that will allow you to retire early. You're literally trying to convice us that a household pulling in $125k/year will have difficulty retiring early? If you save 20% of your income after taxes (~$15k) with a RoR of 7% for 30 years you'll have enough to keep getting your "pay" in perpetuity. That's also assuming you never get a raise or get promoted to a higher position in which you're now making 100's of thousands, and that your wife is completely useless. Link to comment Share on other sites More sharing options...
charsibb Posted January 17, 2015 Group: Member Topic Count: 653 Content Count: 31,049 Reputation: 2,487 Days Won: 172 Joined: 08/30/2011 Share Posted January 17, 2015 125k isn't that much when you consider these folks have zero job security. You can make 125 for 1-2 years then get axed... then you are GA'ing or coaching HS football for 2 years at 20k... They need more investment knowledge. It would help them retiree sooner rather than later. Then they can sit back and relax and have a cold one and tell their families about their old coaching stories. Just for yucks, take $125K, subtract 20% Fed Taxes, 3% State Taxes (not all coach in Florida), $2k/month for housing, $500/mo utilities and phone,$700/mo for autos/ins, $1k/mo groceries and dining out and you're down to about $46k. Got kids? Do they wear clothes, go to movies, private schools since you are moving a lot? Wish we were at $125k per year, but your investment person better be able to get 40% return to turn that $20 - 25k left over each year into something that will allow you to retire early. You're literally trying to convice us that a household pulling in $125k/year will have difficulty retiring early? If you save 20% of your income after taxes (~$15k) with a RoR of 7% for 30 years you'll have enough to keep getting your "pay" in perpetuity. That's also assuming you never get a raise or get promoted to a higher position in which you're now making 100's of thousands, and that your wife is completely useless. aren't they ALL? Link to comment Share on other sites More sharing options...
CousinRicky Posted January 17, 2015 Group: TBP Subscriber III Topic Count: 583 Content Count: 22,713 Reputation: 5,852 Days Won: 109 Joined: 09/13/2007 Share Posted January 17, 2015 125k isn't that much when you consider these folks have zero job security. You can make 125 for 1-2 years then get axed... then you are GA'ing or coaching HS football for 2 years at 20k... They need more investment knowledge. It would help them retiree sooner rather than later. Then they can sit back and relax and have a cold one and tell their families about their old coaching stories. Just for yucks, take $125K, subtract 20% Fed Taxes, 3% State Taxes (not all coach in Florida), $2k/month for housing, $500/mo utilities and phone,$700/mo for autos/ins, $1k/mo groceries and dining out and you're down to about $46k. Got kids? Do they wear clothes, go to movies, private schools since you are moving a lot? Wish we were at $125k per year, but your investment person better be able to get 40% return to turn that $20 - 25k left over each year into something that will allow you to retire early. So you are assuming a spouse who doesn't work? Yes I am. These wives move around the country with these coaches and, assuming there are kids involved, I'm guessing many (not all) stay home. And there are other things people spend there money on besides what I put down which were just fixed costs. Vacation anyone? $125K is nice, but not the end all. Link to comment Share on other sites More sharing options...
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