Originally Posted by niko
It's not hard to set up a sound financial plan on $26M. You need enough in a safe place to give you a good yearly amount to spend, a good real estate investment (a good house but not one thats' upkeep kills you) and you limit which relatives get things (buy you mom a house, buy your brother a house, don't give them $100k a year jobs forever).
It wouldn't be hard at all.
Agreed. There are certainly players whose income/longevity mean their working days aren't over post-pro sports. Butfor someone in Young's income group, there should never be a day when he or his children have to worry about money.
Can't recall who I saw talking about it, but his point was that when you get rich, you already KNOW which relatives/"friends"/hangers on are going to try and leech off of you. Write each a check for a predetermined amount, smile, hand it to them, hug them, and say "That's all you're getting. Use it wisely". And stick to it.