First off you cannot compare a professional golfer with an NFL player. A professional golfer is not an employee nor are they paid by the PGA, therefore they are an independent contractor. Phil probably does pay close to 60% considering the high income tax rate of CA and the fact that he has to pay self employment tax. An NFL player is an employee of the NFL team that he signs a contract with. The amount that he is owed under the contract is paid just like any other employee of the club and they will receive a regular W-2. It would make no sense to set up a corporation as mentioned above. There would be absolutely no benefit.
Also, $1.3M in the bank today is not enough for someone in their mid-20's to live for the rest of there life without some other source of income. Inflation will erode this to a meaningless amount in 25 years and the individual will still have probably 25 years to go and they are suppose to start a career again at age 50? Good luck! Also you will need to invest the $1.3M conservatively since you need the income to live on and you have to protect your principle, so that limits your investment choices (no Google or Apple stocks in the portfolio).
Also, $1.3M in the bank today is not enough for someone in their mid-20's to live for the rest of there life without some other source of income. Inflation will erode this to a meaningless amount in 25 years and the individual will still have probably 25 years to go and they are suppose to start a career again at age 50? Good luck! Also you will need to invest the $1.3M conservatively since you need the income to live on and you have to protect your principle, so that limits your investment choices (no Google or Apple stocks in the portfolio).
Yeah, didn't Niklas already come out and say he's coming back?
