Update on Florida’s Keyontae Johnson

[Smashcat]

 

[Wildcats1st]

He’s gonna take the 5 million. If he gets healthy and plays and can go pro he can pay it back. I read a bunch of stuff yesterday that he’s gonna take the $$$$ bc he can’t get med clear

 

[St.PatterSoN-54-]

What is.....…..I'll take the $5 million, Alex?

 

[YardCat]

Take the money and run.

 

[crawfords corner]

Would be great if he could still play, but what if it happens again and this time it takes his life.... Take that money and move on to the next phase in your life. Either way I hope he does whatever is best for him.

 

[bbncal02]

I’m so glad he’s doing better. I watched that happen right after it occurred and literally gasped when he fell. Scary as crap.

Kid, take the money and enjoy the rest of your life. Go shoot hoops on the weekends. Run a church league.

if he invests it right he will never have to work a day in his life.

 

[drew_ukfan]

I’m so glad he’s doing better. I watched that happen right after it occurred and literally gasped when he fell. Scary as crap.

Kid, take the money and enjoy the rest of your life. Go shoot hoops on the weekends. Run a church league.

if he invests it right he will never have to work a day in his life.

Doesn’t even need to invest it; just don’t be a complete idiot

 

[dbrice3]

$5MM is all I'd need to hang it up.

 

[StubbornPenny]

Cash in, that’s what these things are for. That’s “never ever working again” money if you play it halfway smart

 

[bbncal02]

Doesn’t even need to invest it; just don’t be a complete idiot

I mean. Take a million. Put it in a Roth IRA? Kid is set. Take another million, put it in an account where the interest alone would be living money.

Thwn you still have THREE MILLION to basically do whatever you want with.

 

[bbncal02]

$5MM is all I'd need to hang it up.

I wouldn’t even need that. Two million. I’d be debt free easily, and could invest the rest. Never work again.

 

[StubbornPenny]

750K in low risk mutual fund
500K in medium risk mutual fund
500K in crypto
1M in real estate
250K whatever comes up next investment money

2M divided into $60,000 living money for 33 years. By the time that’s out, your investments float you for the rest of your life. Easy choice my man.

EDIT: actually this is very conservative especially with inflation but damn man, you can make this work.

 

[kybassfan]

How does Uncle Sam look at this? Would the Tax Man cometh?

As far as the investments, Crypto and land are suicide for a lump-sum. Maybe with the earnings. . . .

 

[Jireh]

From what I've heard you can basically take 5% per year from your investment without touching the capital and still have growth. So that could be $250K per year. Of course our fat, overpaid, greedy government is going to want to wet its beak. But still, you can conservatively expect $150K per year. It's not NBA money but it's more than most of us reading this post will ever make!

 

[Fox2monk]

I’m so glad he’s doing better. I watched that happen right after it occurred and literally gasped when he fell. Scary as crap.

Kid, take the money and enjoy the rest of your life. Go shoot hoops on the weekends. Run a church league.

if he invests it right he will never have to work a day in his life.

I didn’t think we would see the kid again. It looked like it was over. I feel terrible that he lost his dream most likely but at least he’s alive and has a nice policy to fall back on. That’s the kind of money you can invest and live wisely off the rest of your life. Add in income from a degree or whatever job he can get even in coaching or camps. He’s looking good.

 

[Orange Soda King]

I’m so glad he’s alive and well. Take the money

 

[ccukuk]

I mean. Take a million. Put it in a Roth IRA? Kid is set. Take another million, put it in an account where the interest alone would be living money.

Thwn you still have THREE MILLION to basically do whatever you want with.

Don’t think you have it figured out. A million a year at a reasonable 7% gets you 70k before taxes. Kid is young, money needs to be put to work to earn for the rest of his life. Getting 7% on the full 5 million(not taking 3 million and doing whatever you want with it) gets a reasonable return his entire life, say 350k a year. That’s how wealth is grown.

 

[Sparky285]

How does Uncle Sam look at this? Would the Tax Man cometh?

As far as the investments, Crypto and land are suicide for a lump-sum. Maybe with the earnings. . . .

Well I’ve never seen Uncle Sam not take money when he has a chance to, but I actually think insurance payouts aren’t taxed because the money is being paid because you lost something.

He should take the money and go play pro ball in China. Don’t think China is going to extradite someone over a little insurance fraud.

 

[STL_Cat]

Really happy that he has recovered. The way he went down was so scary. Seen enough guys go down like that and never get back up that it hits you right in the gut when you see it happen.

 

[CELTICAT]

Honestly thought we saw the young man die on the court. Please just take the insurance money.

 

[ncaaky]

He’s gonna take the 5 million. If he gets healthy and plays and can go pro he can pay it back. I read a bunch of stuff yesterday that he’s gonna take the $$$$ bc he can’t get med clear

He would need to make $10 million to pay it back. After agent fee, local/state/federal taxes he would come out even. If he gets cleared and gets a second contract he will come out way ahead by playing.