Tyler Ennis / Lakers

[Knicks411]

I'm not going to get in the personal finance part, because that's not my point. If that's your point than ok. He can still go to Europe and make over 200k a year like Triche and Devendorf did at one point.

It's still mpossible to make 815 million unless you are a first year rookie making the minimum.

He's a 4th year player making the minimum so it starts at 1.57 million. Derrick Rose is in his 9th year so he makes 2.1 million. This chart shows the minimum scale.

NBA Salary Cap FAQ

Yeah Sportrac probably messed up by giving him the rookie min for some reason

 

[CusefanATL]

I'm not going to get in the personal finance part, because that's not my point. If that's your point than ok. He can still go to Europe and make over 200k a year like Triche and Devendorf did at one point.

It's still impossible to make 815 million unless you are a first year rookie making the minimum.

He's a 4th year player making the minimum so it starts at 1.57 million. Derrick Rose is in his 9th year so he makes 2.1 million. This chart shows the minimum scale.

NBA Salary Cap FAQ

Good link. Thank you. And yes, my point is his financial well being. I want to see him fighting to have the new Dome Locker room named after him. I want him to have the funds for it. I want him to sign a 4 year 75 mil deal.

 

[Ward]

again... wayyy more complicated than you think it is.

I do a lot of personal finance studying. Its a freaky hobby of mine.

There are savings issues, compounding interest issues (time is your biggest ally - ennis doesnt have time), peer pressure issues, physiological issues, family issues, and more. My work lifespan is 43-48 years if I need it of a probable increasing wage. His is 5-12 years where all of his money is on the front end and if he doesnt go into d1 or nba coaching - will have no real world experience (and no degree YET) to make decent money after.

Thats why the 2nd contract is so vital. Ennis will have made about $7.5 million (pre agent, pre taxes, pre management, pre spend) in 4 years. That is great money - but not lifetime lasting money unless he saved ~90-95% of it or is OK with living on $25ish-50ishk per year + whatever he can earn in a new job (which he may be). but its a far cry from the 1.5 million which he took as a pay cut.

First, I really hope our staff and program is setting up all of our former players who play professionally with trustworthy, smart financial teams to help them with their new money.

I'm not sure I follow when you say Tyler doesn't have time when it comes to compounding interest. I'm in the finance field and judging by your post you are well read on this but Tyler has nothing but time. It doesn't take that high of a savings rate with his income and age profile to give him a sizable cushion later on in life.

Let's say he saves just 4% (which some people won't even notice missing from their paycheck) of the $7.5M from years 1-4 + 2 years of $1.6M so 2 years from now of his $10.7M in earnings he has "just" $420k invested/saved from his NBA contracts. Throw it in the S&P index and hope it conservatively compounds at 8% on an annualized basis the next 20 years. He'll be in his early 40's with ~$2 million in the bank and that doesn't count any money he's earned from the time he is 23 years old and on. If he doesn't touch it until he's in his early 50's it grows to $4.3M and $9.3M in his early 60's.

Tyler can still go back and get his degree and upon graduating have plenty of connections to get a fine job and live upper middle class. Personally, I would be shocked if he didn't end up a coach right after he hangs them up.

 

[djcon57]

All this talk about others people money is cringe worthy.

 

[Eric15]

Tyler can still go back and get his degree.

Are you sure? My understanding from listening to college basketball fans and Dick Vitale is that the only chance in a college basketball players life to get a college degree is when they're 18-22 years old.

 

[Eric15]

Just to be clear I do not support player choice. I am a Syracuse fan so I am not in favor of anything that does not make Syracuse better

But these are human beings, not just props to provide us with entertainment for a few months.

 

[Knicks411]

Are you sure? My understanding from listening to college basketball fans and Dick Vitale is that the only chance in a college basketball players life to get a college degree is when they're 18-22 years old.

Weird. Almost like there's an ulterior motive at play

 

[CusefanATL]

First, I really hope our staff and program is setting up all of our former players who play professionally with trustworthy, smart financial teams to help them with their new money.

I'm not sure I follow when you say Tyler doesn't have time when it comes to compounding interest. I'm in the finance field and judging by your post you are well read on this but Tyler has nothing but time. It doesn't take that high of a savings rate with his income and age profile to give him a sizable cushion later on in life.

Let's say he saves just 4% (which some people won't even notice missing from their paycheck) of the $7.5M from years 1-4 + 2 years of $1.6M so 2 years from now of his $10.7M in earnings he has "just" $420k invested/saved from his NBA contracts. Throw it in the S&P index and hope it conservatively compounds at 8% on an annualized basis the next 20 years. He'll be in his early 40's with ~$2 million in the bank and that doesn't count any money he's earned from the time he is 23 years old and on. If he doesn't touch it until he's in his early 50's it grows to $4.3M and $9.3M in his early 60's.

Tyler can still go back and get his degree and upon graduating have plenty of connections to get a fine job and live upper middle class. Personally, I would be shocked if he didn't end up a coach right after he hangs them up.

Yeah - its way more complicated than my post. I did a beginners level.

But its not easy going from making 1.5 million to 50k. unless you are veryyyy well planned for it. Sure he has plenty time from 22 until 65. but is he (or I for that matter) really capable of spending $1 million in 2017 and $50,000 (pre tax dollars keeping it simple) in 2018? he doesnt have compounding interest time to keep his standard of living - There is a huge psychological factor that us regular people will never understand. And 22 yr old kids that make 1.5 million almost certainly dont understand until its too late. There is a reason there are so many bankruptcies. I used to think it was just stupid people doing stupid things - but i have changed my tune a lot.

Our staff and program MAY recommend a few financial teams to help - but even then its up to the player to actually do it.

edit * also realized my spell check turned my misspelled word to physiological instead of psychological in my original post

 

[CusefanATL]

All this talk about others people money is cringe worthy.

I apologize if my tone in type comes across negative - but it really is coming from a place of wanting them (tyler ennis and lydon - from a few weeks ago) to succeed financially. And the 2nd contract is so important to that.

 

[Briancuse]

Whatever, I knew I was going to have a completely different opinion than most here. That's kind of a negative way to look at it. Last year was the first year he played since he's been drafted so you can look at it like he's got another opportunity. Anyway, he's still only 22 and made more money than most people make probably in their life.

By the way for everyone there's 15 NBA roster spots now and 2 other guys on 2 way G league contracts going forward, so essentially the roster size for an NBA team going forward is 17.

Thats great, and making an Nba roster is fine, but I guarantee you that when Tyler made his decision the goal wasn't to just make a roster and make some money, he had much loftier goals, time is ticking for him and that 2nd contract.

 

[djcon57]

I apologize if my tone in type comes across negative - but it really is coming from a place of wanting them (tyler ennis and lydon - from a few weeks ago) to succeed financially. And the 2nd contract is so important to that.

That's fine...but let me ask you. Do you think Tyler Ennis has a better idea of Tyler Ennis' financial situation or guy on internet message board with no access to Tyler Ennis' financial situation?

 

[djcon57]

Weird. Almost like there's an ulterior motive at play

Nah it's all about the players financial stability.

BTW, I didn't see the threads concerned with Rak or Gbinije's money situation. Weird???

 

[721Comstock]

Nah it's all about the players financial stability.

BTW, I didn't see the threads concerned with Rak or Gbinije's money situation. Weird???

Well, they got their degrees, so they're set for life, just like every other recent Syracuse grad.

 

[Cusefan0307]

Thats great, and making an Nba roster is fine, but I guarantee you that when Tyler made his decision the goal wasn't to just make a roster and make some money, he had much loftier goals, time is ticking for him and that 2nd contract.

People are moving the goalposts here. I made a post about Ennis recently and people questioned whether he'd get a contract next year. Now he has a contract and the time is ticking...

 

[OttoinGrotto]

People are moving the goalposts here. I made a post about Ennis recently and people questioned whether he'd get a contract next year. Now he has a contract and the time is ticking...

Short of becoming max contact perennial all stars, all of our early entrants will take crap.

 

[CusefanATL]

Nah it's all about the players financial stability.

BTW, I didn't see the threads concerned with Rak or Gbinije's money situation. Weird???

In the Lydon thread, I posted about the disturbing trend of Syracuse players 2nd contract. no 1st rounder since Melo got much more than the minimum on a 2nd deal (I believe only Warrick and Dion got more than minimum and they were both small 1 year deals - at least Dion had a player option).

Also - I dont believe many though rak or G would ever make a roster. so for them to do it, is good. Its all relative to specific situation.

 

[Briancuse]

People are moving the goalposts here. I made a post about Ennis recently and people questioned whether he'd get a contract next year. Now he has a contract and the time is ticking...

What were the goalposts? He is making 1.5 mil on a bad team and barely playing, what has he accomplished?

 

[djcon57]

In the Lydon thread, I posted about the disturbing trend of Syracuse players 2nd contract. no 1st rounder since Melo got much more than the minimum on a 2nd deal (I believe only Warrick and Dion got more than minimum and they were both small 1 year deals).

Also - I dont believe many though rak or G would ever make a roster. so for them to do it, is good. Its all relative to specific situation.

Do you have the trend for other draft picks 2nd contracts? What are the percentages?

 

[CusefanATL]

That's fine...but let me ask you. Do you think Tyler Ennis has a better idea of Tyler Ennis' financial situation or guy on internet message board with no access to Tyler Ennis' financial situation?

I guess... but dont you think Jim Boeheim knows more about defense than some random guy on an internet message board.

May want to get off your high horse. Just ignore the thread.

 

[OrangeDW]

What were the goalposts? He is making 1.5 mil on a bad team and barely playing, what has he accomplished?

He played 18 mpg for the Lakers last year. I bet he sees around the same this year.

 

[Briancuse]

He played 18 mpg for the Lakers last year. I bet he sees around the same this year.

With Ball coming in, I don't see it.

 

[djcon57]

I guess... but dont you think Jim Boeheim knows more about defense than some random guy on an internet message board.

May want to get off your high horse. Just ignore the thread.

Can you post the trends for other draft picks getting a second contract? You claimed it was disturbing in regards to Syracuse players?

 

[cuse10]

All this talk about others people money is cringe worthy.

Blame the media for insisting we know what athletes make. Its none of my business.

 

[CusefanATL]

Do you have the trend for other draft picks 2nd contracts? What are the percentages?

if you need me to do the research for you:

Warrick - no (slightly higher than min, 1 year deal)
Donte Greene - no
Flynn - no (not his fault)
Fab - no
Dion - no (slightly higher than min, 1 year deal + player option)
Wes - no
Mali - TBD - not looking good after 1 year
Chris - TBD - not looking good after 2 years
Ennis - no
MCW - no (slighty higher than min 1 year deal)

 

[OrangeDW]

With Ball coming in, I don't see it.

They had Russell last year who was also the 2nd pick and was in his second year rather than a rookie.

Walton played his bench a lot last year and didn't give the starters heavy minutes. Clarkson led the team in minutes per game at 29.2, and he wasn't even a starter.