Adrian Peterson is flat-out broke

[GatorInGeorgia]

Well, AP is still playing, so his NFL pension I assume would be not be eligible till he retires

You’re correct, he won’t be eligible until after he retires but he’ll have to wait many years after. He doesn’t get it day 1 of retirement. The bigger issue is this...if he couldn’t make $120 million pre-tax/pre-agent fee last, how the hell is he going to make a monthly pension of say $10,000 gross per month last...or even $18,750 gross per month (if he even qualifies for that much)?

***EDIT***- $120 million pre-tax/pre-agent...I originally forgot to include the endorsement money.

 

[Sec14Gator]

This thread, and @InstiGATOR1 in particular, has convinced me Dunning and Kruger only tested their theories in the workforce after spending time on message boards.

Either the phenomenon they made well known, illusory superiority, or the book title they wrote, “Unskilled and Unaware of It: How Difficulties in Recognizing One's Own Incompetence Lead to Inflated Self-Assessments”, would apply to Insti’s nonsense. A career in lecturing to children only makes this more obvious.

Yes, Insti, you are the only one to ever notice taxes or that Florida does not have income tax. Please tell me more, like your 25% inflation of the highest federal tax bracket possible during AP’s career. (The top possible rate was 39.6, not 50. the effective rate would have been lower, especially if you all are correct that he has so many child support obligations. The fact that you start at the wrong marginal rate only highlights the D-K effect at play).

BTW, Insti, when calculating his true spending, you also didn’t account for his investment advisor’s fee or the mutual fund expenses. How can we discuss mass wealth loss without diving into those details or the extra pump of vanilla AP likes with his Starbucks? We just are not smart enough. I’m going to search the internet for a cool picture to post.

Edit: cool, I found one and it’s been used before. This dog might be sniffing almost as hard as Insti is trying to seem super smart in this thread:

 

[78]

But not all annuities are pensions. My point is the DB plan funded by the NFL for the benefit of the players isn’t that substantial. It was being reported that he was going to get something like $25-$50k per month from his NFL pension (the DB plan funded by the employer) when in reality he would get much lower, maybe $5-$10k per month. So for NFL players thinking they will get some enormous monthly benefit based on incorrect information they may have heard, they are in for a rude awakening. The additional amount O.J. gets apparently is from a screen guild pension and supposed an additional pot of money O.J. funded himself years ago (not DB money) that can’t be attached by creditors.

How O.J. still made lots of NFL money in prison

O.J. Simpson Could Take Home $25,000 a Month Now That He's Released From Prison

No, it was just a misunderstanding on my part. What you said (I think) was he used post-tax dollars to fund an annuity to supplement his NFL pension.

Interesting note in your second link about him having 250k in liquidity while owing tens of millions from the civil suit. Not sure how that money can avoid attachment.

 

[oxrageous]

I read over everything again. After realizing now that Peterson had to pay taxes, it is completely understandable how he went through that money. I'm glad I didn't miss the point of this discussion at all.

 

[bradgator2]

This thread is an embarrassment. Please God make the football season start early.

 

[Musclepug]

Dare I say.....shambles?

 

[BMF]

Dare I say.....shambles?

This thread's been in shambles since the first page!

 

[g8r.tom]

Wow,

1. Actually unless you calculate someone's gross play plus the so called employer social security "contribution" that you also have to earn you do not have their gross earnings, gross pay is pretty much meaningless.

2. I know you liberals like to pretend that taxes are just some expenses like buying gas to get to work, but you actually get to spend the money you receive after taxes. You don't get to decide about those "expenses" you described.

3. I actually work in the real world too. The real world is the world you are in. That is whether you work in construction, the NFL, a college, the government, etc. Further I actually pay attention to the real world.

4. Could you post anything more trite than accusing someone who is a professor of not being in the real world. Seriously it does not take two brain cells to post something that trite. Oops I forgot you can post something more trite, you posted a BS meter WHEN YOU WERE THE OWN BSing.

When you throw out the " I am a Professor" card in order to bolster your position, you should expect blow back.

You are still being obtuse.

Me? A liberal?

 

[-THE DUDE-]

This thread is an embarrassment. Please God make the football season start early.

Be careful what you wish for

 

[InstiGATOR1]

[QUOTE="g8r.tom, post: 923153, member: 169
Me? A liberal?
[/QUOTE]

Yep you a liberal whether know it are not calling taxes an expense means you are buying into leftist vocabulary. Similarly if you thing the President, the person who runs the government, runs the country you are buying into leftist speak. Of if you view tax cuts as a loss of government money. And of course if you confuse gross pay with what you actually have to spend, you are similarly following the left.. But you are probably too busy watching the leftist press and aping how they report things as you admitted to realize how infected with leftist language you are.

 

[soflagator]

[QUOTE="g8r.tom, post: 923153, member: 169
Me? A liberal?

Yep you a liberal whether know it are not calling taxes an expense means you are buying into leftist vocabulary. Similarly if you thing the President, the person who runs the government, runs the country you are buying into leftist speak. Of if you view tax cuts as a loss of government money. But you are probably too busy watching the leftist press and aping how they report things as you admitted to realize how infected with leftist language you are.[/QUOTE]

We all like you Insti, but clearly you're drunk. Sleep it off and let's resume tomorrow.

ps. I was going to just post this, but know how it upsets you, so I didn't.

 

[B52G8rAC]

I dont think you are correct with that statement.

You're just wrong about that.

 

[soflagator]

Now, this guy's self-quoting to argue with himself.

The whole thread's hammered.

 

[BMF]

Now, this guy's self-quoting to argue with himself.

The whole thread's in shambles.

FIFY!

 

[Gator By Marriage]

The bigger issue is this...if he couldn’t make $120 million pre-tax/pre-agent fee last, how the hell is he going to make a monthly pension of say $10,000 gross per month last...or even $18,750 gross per month (if he even qualifies for that much)?

Answer: He won't.

 

[g8r.tom]

[QUOTE="g8r.tom, post: 923153, member: 169
Me? A liberal?

Yep you a liberal whether know it are not calling taxes an expense means you are buying into leftist vocabulary. Similarly if you thing the President, the person who runs the government, runs the country you are buying into leftist speak. Of if you view tax cuts as a loss of government money. And of course if you confuse gross pay with what you actually have to spend, you are similarly following the left.. But you are probably too busy watching the leftist press and aping how they report things as you admitted to realize how infected with leftist language you are.[/QUOTE]



Wow, you are still being obtuse. You are also making a lot of wild assumptions about someone you do not know. Is this how you usually operate? Making stuff up? It really reflects poorly on your intellect.

I feel sorry for those kids that you try to "educate."

 

[B52G8rAC]

When you throw out the " I am a Professor" card in order to bolster your position, you should expect blow back.

You are still being obtuse.

Me? A liberal?

I could settle the whole debate by citing my "I am the world's greatest bomber pilot" creds; but I am enjoying the conversation. Really. Oh, just let football season get here.

 

[MJMGator]

If Insti is a professor, it has to be at UAL.

 

[GatorInGeorgia]

No, it was just a misunderstanding on my part. What you said (I think) was he used post-tax dollars to fund an annuity to supplement his NFL pension.

Interesting note in your second link about him having 250k in liquidity while owing tens of millions from the civil suit. Not sure how that money can avoid attachment.

Yes, that was my point (allegedly using his own $ to fund some supplement; I say allegedly b/c who knows if O.J.’s friend even knows the truth). Regarding the $250k liquidity, I took it to mean that he was getting between $5-$10k per month from his NFL pension while in prison, he wasn’t spending it b/c he was incarcerated so the money piled up in a savings account until he was released. While you & I know pensions are protected from creditors, what I wasn’t 100% certain about is does a creditor have a chance to attach the money once it comes out of the pension and is deposited into a good old fashioned after tax account (I.e.-checking, savings, brokerage account)? I thought they could make a play for it if they could find the account but I’m not certain about that.

 

[78]

Yes, that was my point (allegedly using his own $ to fund some supplement; I say allegedly b/c who knows if O.J.’s friend even knows the truth). Regarding the $250k liquidity, I took it to mean that he was getting between $5-$10k per month from his NFL pension while in prison, he wasn’t spending it b/c he was incarcerated so the money piled up in a savings account until he was released. While you & I know pensions are protected from creditors, what I wasn’t 100% certain about is does a creditor have a chance to attach the money once it comes out of the pension and is deposited into a good old fashioned after tax account (I.e.-checking, savings, brokerage account)? I thought they could make a play for it if they could find the account but I’m not certain about that.

Legal question. My guess is the pension and annuity payouts are protected, too, otherwise the protected asset itself would be frozen and useless.