Opinion Griffin Logue, Moving Forward

[prpl_jss]

There are many variables around owning a house, what he owns already, how much he has saved up, whether he gets a contract after etc but I'm very comfortable in my judgement that you can turn that into never working again with a good financial advisor (so not much work for Logue)

lets say he blows 1.5mil over that 5 years and has nothing in the bank, can still walk out with 1 mil and lets say he gets a modest return of about 7% (i'm going favourable to your side on both figures on purpose) thats still 70k a year to live on


anyway you get my point, we can turn this into an investing or financial strategy thread but theres not much point lol, surely we can at least agree its a life changing contract?

7% is a modest return now? Ok . Let’s also pretend that inflation isn’t a thing for the next 70 years as well.

 

[ignoramus]

Need to keep in mind that managers don't work for free.

 

[freo_leo29]

Need to keep in mind that managers don't work for free.

Yeah 5% is I think the standard and a bigger cut of sponsor deals etc so only the 5% relevant here, Idno how exactly it works but if its before tax then its like roughly 115k after tax over the 5 years (Manager pockets 200k but then there could be a signing bonus etc)

Anyway this thread is seriously getting dragged down by financials, I tried to ignore the last one to get it back on track but I just got sucked in again

 

[RonnieRaven]

I would s**t on griff but feel 5 years at the kangaroos is enough bad karma for him.

 

[ignoramus]

Yeah 5% is I think the standard and a bigger cut of sponsor deals etc so only the 5% relevant here, Idno how exactly it works but if its before tax then its like roughly 115k after tax over the 5 years (Manager pockets 200k but then there could be a signing bonus etc)

Anyway this thread is seriously getting dragged down by financials, I tried to ignore the last one to get it back on track but I just got sucked in again

I’m surprised to hear it’s that low.

 

[freo_leo29]

I’m surprised to hear it’s that low.

They take a decent chunk of sponsor deals, it's within the agents interest to land their players sponsor deals

They said in the recent doco that NRL charges 7% and hopper said he's already paying them too much

 

[FreoRicci]

Makes sense if having a few clients. If it’s 5% annually, that’s 35k from Logue’s deal. Add on Lobb’s and it’s 40k added. Young has JL and Henry as well. Easily make 200k with the rift clients.

 

[freo_leo29]

Makes sense if having a few clients. If it’s 5% annually, that’s 35k from Logue’s deal. Add on Lobb’s and it’s 40k added. Young has JL and Henry as well. Easily make 200k with the rift clients.

Yeah then sponsor deals etc, it all adds up pretty quick when you have a couple big clients

 

[rgauci]

thats 2.5 million after 5 years, after tax

if you can't turn that into not working again then I don't know what to tell you

He would already be living comfortably now and have money saved up, he has contracts coming after this one, all he needs is a financial advisor to get him a decent return year on year

Median home price in Perth is close to 600k, if you take out apartments (can’t really raise a family in an apartment), the median price is actually 850k. Private school fees for your child at a top school, looking at 200-350k per child if they do primary and secondary. If you limit it just to high school it’s about 150k. That’s one kid, imagine having 2,3,4 the costs rise. Cost estimates of raising a child from 0-18 years is about a million per child in Australia.

2.5 million is amazing life changing money. But stopping working? You’re joking. Unless you want to spend bare minimum and live a super simple life. Most don’t, with that sort of money in the bank. $10 million and you can think about living comfortably and not working again.

 

[King Huskii]

Median home price in Perth is close to 600k, if you take out apartments (can’t really raise a family in an apartment), the median price is actually 850k. Private school fees for your child at a top school, looking at 200-350k per child if they do primary and secondary. If you limit it just to high school it’s about 150k. That’s one kid, imagine having 2,3,4 the costs rise. Cost estimates of raising a child from 0-18 years is about a million per child in Australia.

2.5 million is amazing life changing money. But stopping working? You’re joking. Unless you want to spend bare minimum and live a super simple life. Most don’t, with that sort of money in the bank. $10 million and you can think about living comfortably and not working again.

Fk you're making me depressed

 

[One_Wing]

Median home price in Perth is close to 600k, if you take out apartments (can’t really raise a family in an apartment), the median price is actually 850k. Private school fees for your child at a top school, looking at 200-350k per child if they do primary and secondary. If you limit it just to high school it’s about 150k. That’s one kid, imagine having 2,3,4 the costs rise. Cost estimates of raising a child from 0-18 years is about a million per child in Australia.

2.5 million is amazing life changing money. But stopping working? You’re joking. Unless you want to spend bare minimum and live a super simple life. Most don’t, with that sort of money in the bank. $10 million and you can think about living comfortably and not working again.

What he is getting at is that having a large chunk of cash at a young age its relatively easy to turn into passive income that will continue to generate returns that will off set the costs of the things you are describing. Like yeah you can't pay off 12 years of education in one hit or buy a house in one go. But no one really does that. Rather if you invest that money the profits in generates can be used to pay off those things over the years. Never working again is probably hyperbole but unless he is an idiot with money, he will never have to worry about it again. Ol' Logie Bear comes from a pretty well off family anyway so I imagine he has plenty of contacts that will help him invest that money wisley to generate consistent returns.

 

[freo_leo29]

Median home price in Perth is close to 600k, if you take out apartments (can’t really raise a family in an apartment), the median price is actually 850k. Private school fees for your child at a top school, looking at 200-350k per child if they do primary and secondary. If you limit it just to high school it’s about 150k. That’s one kid, imagine having 2,3,4 the costs rise. Cost estimates of raising a child from 0-18 years is about a million per child in Australia.

2.5 million is amazing life changing money. But stopping working? You’re joking. Unless you want to spend bare minimum and live a super simple life. Most don’t, with that sort of money in the bank. $10 million and you can think about living comfortably and not working again.

Let's just say we have grown up with very different lifestyles lol

If he is getting 7% on 2.5 million roi it's like 200k a year and that's a hell of a lot more than many families earn with combined income (and we are just going off the fact he's blown all his money he has earnt so far and has 0 assets, like a car, a house)

I'm not even saying I grew up with a poor family, I didn't say he could live in luxury forever but he could definitely live a normal life with that money


To be fair, I don't think this is his last contract, so he'll earn more, I'm sure as a marquee signing he will get sponsorships, AFL players get alot of expenses paid for them as part of training programs


Look there's more to be said here but we arent going to come to the same conclusion and this thread has already been hijacked by us talking finance so I'm gonna try and not reply again



So that Griffin Logue hey, long years ahead at North

 

[freo_leo29]

What he is getting at is that having a large chunk of cash at a young age its relatively easy to turn into passive income that will continue to generate returns that will off set the costs of the things you are describing. Like yeah you can't pay off 12 years of education in one hit or buy a house in one go. But no one really does that. Rather if you invest that money the profits in generates can be used to pay off those things over the years. Never working again is probably hyperbole but unless he is an idiot with money, he will never have to worry about it again. Ol' Logie Bear comes from a pretty well off family anyway so I imagine he has plenty of contacts that will help him invest that money wisley to generate consistent returns.

Last bit on this but yeah basically what this guy is saying, you don't pay off the house right away, you let the 200k of passive income do it year on year etc

Logues going to have cleared close to 4 million after tax from the AFL by the end of his career and he can create wealth from wealth

Okay Ill stop

 

[Nodgey]

..and he can send his kids to a public school too.

 

[MadMundy]

Logue looks like he's aged at least 5-6 years since he joined North Melbourne. The buzz cut does not suit him at all.

 

[DQ 4EVER]

Makes sense if having a few clients. If it’s 5% annually, that’s 35k from Logue’s deal. Add on Lobb’s and it’s 40k added. Young has JL and Henry as well. Easily make 200k with the rift clients.

Yes, but who are these rift clients?

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[FreoRicci]

Yes, but who are these rift clients?

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Was meant to be right.. didn’t do spellcheck. The right clients.

 

[MadMundy]

Griffin Logue

19

Griffin Logue

Age

25

Ht

194cm

Wt

98kg

Pos.

D/F

Career

Season

Last 5

D

9.8

2star

K

4.4

2star

HB

5.4

4star

M

2.4

3star

T

1.0

3star

MG

115.4

2star

D

9.8

2star

K

4.4

2star

HB

5.4

3star

M

2.4

3star

T

1.0

2star

MG

115.4

2star

D

9.8

3star

K

4.4

2star

HB

5.4

4star

M

2.4

3star

T

1.0

3star

MG

115.4

2star

bad.

Give me likes please.

 

[DQ 4EVER]

Was meant to be right.. didn’t do spellcheck. The right clients.

Was only being cheeky
Go the rifters

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