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Georgia Bulldogs (2021-2022 National Champions)

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Steve19 said:
Three words. Stanford Marshmallow Experiment. Not to insult anyone, any kid who has been raised to appreciate the value of money would make the right choice and realize that he will be known in life for his true wealth, not what he buys (or gets the monetary value to rent) for flash.

Force your kids to read the best seller "The Millionaire Next Door" (link). American society is the poster child for under-accumulation of wealth. All that money, and yet most Americans are inadequately prepared financially for retirement.

I know a kid who received an engineering degree scholarship with a cash bursary and guaranteed job on graduation if he wanted it. He and three buddies rented a house while in college. He used the savings to buy a flat in the campus area in Cape Town and a 10-year old truck and started work for a telecommunications company while he did a Masters in IT followed by an MBA. He finished in the top 5% of his class. All are financially very well off today.

He married a beautiful doctor in his 30s and they have two kids. He bought that house in an area that was gentrifying and he is still collecting rent every month on it. Works in data science job and doing well enough to build houses on spec and sell.

Forget the marshmallows in life. How many pro football players retire with nothing to show for it? What about Mike Tyson's flash house that no one would buy when he crashed. It's not about the flash. It's about the cash you retain to live your best life.
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I'm 100% in agreement with you. But those putting money into the NIL buckets aren't looking to make the kids rich. They're looking to convince the kids to go to that school. You don't convince kids to go to that school to play for that team by saying, "Yeah, buy a house and then rent it out when you're done," even though I'm sure you're right that that's the smart way to do it. Kids want to drive the fun car and see that the kid who plays for that team gets to have the fun car so maybe I want to go there, too.
You're on the right track with the Stanford Marshmallow Experiment. But the kid who gets what he wants now gets to be on social media dancing and showing how great it is. The kid who waits to get a bigger/better reward isn't celebrated. (And the celebration is part of the reward.)
 
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Steve19 said:
Three words. Stanford Marshmallow Experiment. Not to insult anyone, any kid who has been raised to appreciate the value of money would make the right choice and realize that he will be known in life for his true wealth, not what he buys (or gets the monetary value to rent) for flash.

Force your kids to read the best seller "The Millionaire Next Door" (link). American society is the poster child for under-accumulation of wealth. All that money, and yet most Americans are inadequately prepared financially for retirement.

I know a kid who received an engineering degree scholarship with a cash bursary and guaranteed job on graduation if he wanted it. He and three buddies rented a house while in college. He used the savings to buy a flat in the campus area in Cape Town and a 10-year old truck and started work for a telecommunications company while he did a Masters in IT followed by an MBA. He finished in the top 5% of his class. All are financially very well off today.

He married a beautiful doctor in his 30s and they have two kids. He bought that house in an area that was gentrifying and he is still collecting rent every month on it. Works in data science job and doing well enough to build houses on spec and sell.

Forget the marshmallows in life. How many pro football players retire with nothing to show for it? What about Mike Tyson's flash house that no one would buy when he crashed. It's not about the flash. It's about the cash you retain to live your best life.
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All great points Steve. I agree with every single one of them. "The Millionaire Next Door" is indeed a great book on financial literacy.

None of this changes the fact that we are talking about decisions that are not on the table when an athlete is choosing certain NIL options. Here are some sample, purely hypothetical, conversations:

Rich Guy: Would you prefer a Lambo or a Ferrari?
Athlete: Neither. I'll drive an Accord and take some Real Estate.
Rich Guy: I'm an exotic car broker. You can have a 1-year-lease on a Lambo or a 1-year-lease on a Ferrari. Those are your choices.
Athlete: I want real estate.
Rich Guy: Cool story bro. Tell it to a real estate agent. ...or a developer. You want a car or nah?
Athlete: I'll take the Lambo

*Athlete drives away in Lambo and calls agent*

Agent: *looks at caller ID* - Hey... How's my favorite client?
Athlete: Save it for someone who buys it. Get me a NIL deal with a real estate developer.
Agent: Done. What kind.
Athlete: What do I know? I'm 19. Just make it happen. My uncle Steve would kill me if he saw me in this car and I don't have any real estate.
Agent: You got it, chief
Athlete: Don't call me chief. I hate margaritas.
 
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DaddyBigBucks said:
All great points Steve. I agree with every single one of them. "The Millionaire Next Door" is indeed a great book on financial literacy.

None of this changes the fact that we are talking about decisions that are not on the table when an athlete is choosing certain NIL options. Here are some sample, purely hypothetical, conversations:

Rich Guy: Would you prefer a Lambo or a Ferrari?
Athlete: Neither. I'll drive an Accord and take some Real Estate.
Rich Guy: I'm an exotic car broker. You can have a 1-year-lease on a Lambo or a 1-year-lease on a Ferrari. Those are your choices.
Athlete: I want real estate.
Rich Guy: Cool story bro. Tell it to a real estate agent. ...or a developer. You want a car or nah?
Athlete: I'll take the Lambo

*Athlete drives away in Lambo and calls agent*

Agent: *looks at caller ID* - Hey... How's my favorite client?
Athlete: Save it for someone who buys it. Get me a NIL deal with a real estate developer.
Agent: Done. What kind.
Athlete: What do I know? I'm 19. Just make it happen. My uncle Steve would kill me if he saw me in this car and I don't have any real estate.
Agent: You got it, chief
Athlete: Don't call me chief. I hate margaritas.
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Charles Barkley has a great story about what Jordan told him to do with his Nike deal. Take stock options instead of cash.
 
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Steve19 said:
Seriously, if I was given that kind of money, I'd buy a house as an investment, to live in during college and rent out or sell after college. Investing in a depreciating asset is never a wise choice and you are one injury away from never playing again
DaddyBigBucks said:
We’re debating options that these guys probably don’t even have

Some of the NIL payments are cash, sure

But it seems to me that the vast majority of the vehicles they’re driving are leases that someone is paying for. The choice is what they want to drive for the next year and only what they want to drive for the next year. Real estate is not on the table in those discussions
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This.
 
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GeorgiaBuck2 said:
Just goes to show you the kind of young men we recruit vs UGA. And the importance our staff puts on life after football. No wonder Downs picked OSU. He seems like an intelligent individual lol.
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He was also on the same roster as Jermaine Burton and saw how much Burton hated UGA fans, and he also probably has little interest in barking in random people’s faces.
 
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Something else to note, all these fans of other teams, mainly UGA, saying that Day is less than because he hasn't won the national title, or he needs to "buy a championship" in order to win, how many seasons did it take Kirby Smart to win his first title? It took him 6 seasons, and Alabama owned him. So maybe just give Day time to develop into the head coach he wants to be, with a staff he trusts that can take the load off of him.
 
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