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I had no idea about this.  Brilliant on his part and I can see where the Mets were going until they got screwed.  Still can't get my mind around this.

 

http://www.celebritynetworth.c...a-baseball-contract/

 

 

Nothing can stop the man with the right mental attitude from achieving his goal; nothing on earth can help the man with the wrong mental attitude. Thomas Jefferson

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I know people who are friends of the Wilpons, who was very close friends with Madoff.

So many people here in South Florida lost their fortunes, very sad.

 

This was absolutely brilliant on Bonillas part, but once again, Wilpon believed at the time he was going to be a very rich man and it would be a drop in the bucket.

Last edited by TPM

This was a very smart move on his part, to defer his contract and have it paid out over many years.  Even if the payout was more in line with the original contract it would have been a smart thing to do.  It is very difficult for a young person to receive a large sum of money and recognize that it needs to last 40+ years and manage it accordingly.

 

According to the article 100% of financial advisors advise against this move and recommend taking the lump sum all at once, which is a real shame because this calculation does not account for the temptation humans feel when money is burning a hole in the pocket.  I wish more athletes would follow this example so we wouldn't see any more 30 For 30 episodes on well-paid athletes going bankrupt.

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