Thread: Strange as it sounds, trouble in paradise?

Strange as it sounds, trouble in paradise?
By Patrick Hruby & Jay Lovinger
Page 2

NFL, spreading themselves thin, interesting question?

Former players being left behind, they have been ignoring that issue for a long time now.
Between the players union which most of these players weren't part of, and the NFL, something should be worked out to help these former players.
We as the public shouldn't even be put to hearing about this, it should have been taken care of.
Flipside, is they probably don't want all these gangta type in the NFL today to think that they can just show up and be taken care of for life.
Players to some extent have to be financially responsible for themselves.

I have an idea. It is the NFL 401k plan. Players would put away 7% of their income into stocks or mutual funds or just an account as cash. And you could not touch it for 10 years after you retire & have restrictions of withdraw amounts after the 10 years. If lets say you make a lowly 400,000 a year for 10 years playing in the NFL that would total 4,000,000. Your contribution to your account would be 280,000 before interest. Lets say you make 4% a year. After 20 years you would have 575,924.65. Then you are only able to withdraw interest. They would end up with 23,036 a year. By know means will that be liveable for an ex-NFL player but then they at least wouldnt have to live in a homeless shelter. ANd all these assumptions are for a player making only 400,000 a year.

"gr8vike" wrote:

I have an idea. It is the NFL 401k plan. Players would put away 7% of their income into stocks or mutual funds or just an account as cash. And you could not touch it for 10 years after you retire & have restrictions of withdraw amounts after the 10 years. If lets say you make a lowly 400,000 a year for 10 years playing in the NFL that would total 4,000,000. Your contribution to your account would be 280,000 before interest. Lets say you make 4% a year. After 20 years you would have 575,924.65. Then you are only able to withdraw interest. They would end up with 23,036 a year. By know means will that be liveable for an ex-NFL player but then they at least wouldnt have to live in a homeless shelter. ANd all these assumptions are for a player making only 400,000 a year.

I wonder if any NFL players are reading these articles and not buying big house and expensive car and save for when they are retired and can't walk.

"WVV" wrote:

"gr8vike" wrote:

I have an idea. It is the NFL 401k plan. Players would put away 7% of their income into stocks or mutual funds or just an account as cash. And you could not touch it for 10 years after you retire & have restrictions of withdraw amounts after the 10 years. If lets say you make a lowly 400,000 a year for 10 years playing in the NFL that would total 4,000,000. Your contribution to your account would be 280,000 before interest. Lets say you make 4% a year. After 20 years you would have 575,924.65. Then you are only able to withdraw interest. They would end up with 23,036 a year. By know means will that be liveable for an ex-NFL player but then they at least wouldnt have to live in a homeless shelter. ANd all these assumptions are for a player making only 400,000 a year.

I wonder if any NFL players are reading these articles and not buying big house and expensive car and save for when they are retired and can't walk.

You know they aren't. I know not alot of people, even in the NFL think about retirement when they are in the early 20's. I just dont think the NFL should have to take care of them the restof their lives just because they played a sport. I agree that Injury disability should be paid. But not retirement Pensions. Your retirement should be your responsibility not the company you work for.