OT: El Paso in Top 10 in American migration patterns (declining population?)
- Thread starter utep2step
- Start date
He doesn't pay that much in taxes. Our tax code is filled with loopholes and deductions that any accountant worth their salt is ready to exploit. Multi-Million dollar home? There's a big deduction for the interest. Personal chef? That's a work expense deduction. And it goes on. Yes, the top federal tax rate is 34%, but with people who've made their taxes public, we've seen that the richest of the rich, tend to pay around 10%.
As far as buying homes is concerned. From what I've seen, most professional athletes buy one home in their preferred city and rent where they play. It's very common for them to also buy their parents a home, which I think is a very reasonable thing as long as the home isn't some crazy mansion. I think Antoine Walker bought his mom a house with like 24 bed rooms and 20 bathrooms. That's crazy. Buy your mom a 3 bedroom in the suburbs and a new sedan.
Man he needs to fire his agent. Agent getting paid to much. Isnt he putting lot of money in savings?
If you invest $15M in a diversified portfolio that includes stocks, bonds, mutuals, real estate etc, you can live pretty well on the interest/dividends while still reinvesting a portion of the proceeds to the original investment portfolio. I imagine that you could also incorporate and protect yourself and your personal assets and pay a lower tax rate.
And do not, under any circumstances, get married. Unless of course your partner brings as much or more to the marriage as you do.
And do not, under any circumstances, get married. Unless of course your partner brings as much or more to the marriage as you do.
