rz,
Sorry, I'm not sure I remember who Ryan's agent is, if I ever knew in the first place.
He sounds like one of the good advisors/agents. Wish there were more like him.
I'm always interested in knowing those like Ryan's agent. If you want to keep his name confidential could you PM or email me. I get many calls asking about agents and that's why I want to know all the good ones.
Thanks
pm
Sorry I misunderstood where rz1 was in the pipeline.
And glad he got a good one behind him.
The word I got about the scholarship plan is that some teams will throw money into that pot pretty loosely because they know almost no one ever actually uses the money.
Which is a great opportunity, if you're one of those who are convinced you'll actually use it. Let 'em put a fortune in there so you don't risk coming up short.
Do bear in mind, though, that the distributions, when received are (I believe) treated as taxable income. Correct me if I'm wrong on that.
And glad he got a good one behind him.
The word I got about the scholarship plan is that some teams will throw money into that pot pretty loosely because they know almost no one ever actually uses the money.
Which is a great opportunity, if you're one of those who are convinced you'll actually use it. Let 'em put a fortune in there so you don't risk coming up short.
Do bear in mind, though, that the distributions, when received are (I believe) treated as taxable income. Correct me if I'm wrong on that.
I hope I'm not being too presumptive here, but my son is eligible this year and so far we've had no meaningful contact with advisors. If any of you good people have recommendations, one way or the other, on advisors would you please PM me? I would greatly appreciate any help in navigating this mine field.
I sorta like this guy.
I have seen several posters refer to The MLB Scholarship program what is exactly is that? Is it offered to all players drafted out of High School or do they have to negotiate for it?
The MLB scholarship program is something that is negotiated. I would say a good rule of thumb is that they will at least offer you what your son's current scholarship offer is.
I have heard that some clubs will try to negotiate the value to be the same as the cost of an in state education however in our case my son was going to an pretty expensive out of state school so they agreed to work off of those numbers. One other thing to consider is the escalating cost of education. What college will cost 4 or 5 years from now will be much different that the cost today (see current thread about cost of education) Don’t be afraid to factor that in when negotiating.
I am sure every club is different in how they work their scholly offers. Like someone said before, there are so few players that end up using the program that I think many clubs will be quick to give you the higher value if you ask. Especially for HS players.
I have heard that some clubs will try to negotiate the value to be the same as the cost of an in state education however in our case my son was going to an pretty expensive out of state school so they agreed to work off of those numbers. One other thing to consider is the escalating cost of education. What college will cost 4 or 5 years from now will be much different that the cost today (see current thread about cost of education) Don’t be afraid to factor that in when negotiating.
I am sure every club is different in how they work their scholly offers. Like someone said before, there are so few players that end up using the program that I think many clubs will be quick to give you the higher value if you ask. Especially for HS players.
Thanks for the link rz1
The plan is not taxed if paid to the school, but to the player. If done that way, depending on the players tax bracket, he would get back what was lost in tax. Fungo's son just went through this process, maybe he can elaborate more. If you begin the plan, you have to finish it within a certain period of time that is correct.
HS players will get more for the plan as an incentive, however most teams we talked to would not give son what his cost of out of state tuition would be, but he was never drafted so don't know what would have been the end result. Ask for the moon.
Definetly ask extra for inflation, mine got extra, but in the years since he negotiated, the tuition costs have risen dramtically. He can someday have the opportunity to use it as an in state student for less. For negotiating those that have been drafted in college, most teams will give you what it would be to complete your degree where you began.
If you negotiate for extra money in lieu of the plan, remember you will pay tax immediately on it, save it for your education later on.
HS players will get more for the plan as an incentive, however most teams we talked to would not give son what his cost of out of state tuition would be, but he was never drafted so don't know what would have been the end result. Ask for the moon.
Definetly ask extra for inflation, mine got extra, but in the years since he negotiated, the tuition costs have risen dramtically. He can someday have the opportunity to use it as an in state student for less. For negotiating those that have been drafted in college, most teams will give you what it would be to complete your degree where you began.
If you negotiate for extra money in lieu of the plan, remember you will pay tax immediately on it, save it for your education later on.
This is priceless advice!
Much of the advice offered on this website is priceless.
However, if you wish to pay for some of it..... Give back....
However, if you wish to pay for some of it..... Give back....