Andy Williams gets paid to play soccer. But being an athlete is no ticket to wealth

SoccerPrime · 09-20-2005, 03:36 PM

A long way to the goal
Andy Williams gets paid to play soccer. But being an athlete is no ticket to wealth.

http://money.cnn.com/2005/09/19/pf/money_goal_0510/index.htm

Very interesting!

rslfan · 09-20-2005, 04:05 PM

Quote:

Originally Posted by SoccerPrime

A long way to the goal
Andy Williams gets paid to play soccer. But being an athlete is no ticket to wealth.

http://money.cnn.com/2005/09/19/pf/money_goal_0510/index.htm

Very interesting!

There are some good lessons to be learned here however, Williams makes a good living for what he does, being an athlete..If he can't live on the salary he is making, then he needs to make adjustments and get rid of the expense items. Let the wife return to work to help with expenses. It could be a lot worse, look at the developmental players who are making $11,000 to $30,000 and struggling to make the rent each month. And there is only one of them (no wife) to make ends meet.

SokkerNut · 09-20-2005, 04:45 PM

Quote:

Originally Posted by rslfan

There are some good lessons to be learned here however, Williams makes a good living for what he does, being an athlete..If he can't live on the salary he is making, then he needs to make adjustments and get rid of the expense items. Let the wife return to work to help with expenses. It could be a lot worse, look at the developmental players who are making $11,000 to $30,000 and struggling to make the rent each month. And there is only one of them (no wife) to make ends meet.

Let's see, he makes how much playing a sport that he loves....hmmmm I don't feel sorry for him. Learn to budget!!!

Loyal1 · 09-20-2005, 11:10 PM

Well, I feel for him. Imagine having your salary cut by 75%! Even if you bounce back like Andy has VERY few people could avoid debt.

A cautionary tale that we need to hear occasionally.

devNull · 09-21-2005, 04:16 AM

Quote:

Originally Posted by SokkerNut

Let's see, he makes how much playing a sport that he loves....hmmmm I don't feel sorry for him. Learn to budget!!!

Uh, that statement seems quite harsh to me. I think it is a bit more complicated than it seems from the outside looking in. It is certainly not the easiest thing to have your salary bounce around every year and consistently be told that you have some stability in a city and then get traded. Sure he gets paid (a bit...I wouldn't really call it a lot especially if you average his salary over his career) to play a sport he loves, but the lifestyle isn't exactly great for someone with a family. Lighten up a bit...

Aerick · 09-21-2005, 09:25 AM

Quote:

Originally Posted by devNull

Uh, that statement seems quite harsh to me. I think it is a bit more complicated than it seems from the outside looking in. It is certainly not the easiest thing to have your salary bounce around every year and consistently be told that you have some stability in a city and then get traded. Sure he gets paid (a bit...I wouldn't really call it a lot especially if you average his salary over his career) to play a sport he loves, but the lifestyle isn't exactly great for someone with a family. Lighten up a bit...

Agreed. Most athletes get paid more which helps with volatility of the profession. Soccer players do not, but still need to deal with moving around, significant salary gains and losses, and potential for injury ending your season at every turn. Yes, he probably loves the game of soccer. Does he love playing it professionally in the MLS with the above issues and for the amount he gets? I would imagine the nickel's probably not quite as shiny as many of us think it is.

Braveheart · 09-22-2005, 03:52 PM

Good article.

He sure made a lot of bad financial decisions.

Very few people make $107K/year in this country, probably less than the top 5% of the population.

fuegote · 09-22-2005, 04:03 PM

May I add (this coming from where I work)....let us learn a couple of lessons from the article.

1. retirement savings is important, less than 1% of americans are saving enough. Yes, you heard that right. Less than 1%.

2. Do you really want to sacrifice your future for your house or car today? I'm sure there's a car more afordable than the Audi, heck i'm sure it has better gas efficency as well. Same with the house, I get that it's a long term investment, but do you need one where you're unable to contribute to retirement plans? Live within the means.

3. I can't say it enough. If you aren't saving for retirement, do so. If you can't, find a way to cut some expenses.

</soap box>

montgjules · 09-22-2005, 05:01 PM

Quote:

Originally Posted by fuegote

May I add (this coming from where I work)....let us learn a couple of lessons from the article.

1. retirement savings is important, less than 1% of americans are saving enough. Yes, you heard that right. Less than 1%.

2. Do you really want to sacrifice your future for your house or car today? I'm sure there's a car more afordable than the Audi, heck i'm sure it has better gas efficency as well. Same with the house, I get that it's a long term investment, but do you need one where you're unable to contribute to retirement plans? Live within the means.

3. I can't say it enough. If you aren't saving for retirement, do so. If you can't, find a way to cut some expenses.

</soap box>

Good advice, fuegote. I'm pretty sure I'm in the 1% according to all the little surveys and stuff that we've done. I can't believe how much even 3% can add up to when you have a company matching policy. It's awesome.

I am a total advocate of buying a home and using that as an investment. But, of course, it doesn't help if it means you can't afford to save a little here and there and make ends meet.