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Kahlil Whitney leaving Kentucky
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<blockquote data-quote="BMoreIllini" data-source="post: 1522942" data-attributes="member: 631021"><p>I think $3 million made by "lots of people in their lifetime" is really overestimating the average income that the average American makes. In 2017 the median personal income was $31,000. The average bachelor degree holder makes about twice that ($61,000). So for the average American, looking at mean income, working for 40 years, makes about 1.2 million (not accounting for inflation which I don't think is necessary for my point) in their lifetime and the average bachelor degree holding American working for 40 years earns about 2.4 million in their lifetime, but that's 40 years of work to not touch what Luther made in a decent NBA career (6 years). Think about the communities a lot of these kids grow up in, do you think a lot of these kids grow up in white collar communities where the average household income is 100k+?</p><p></p><p>The minimum salary in the NBA is about $582,000, which yes, will get taxed at a higher rate, but making that income up front still allows for greater gains if put in a retirement fund (I know, wishful thinking for a 19-23 year old). I understand where you're coming from, but largely, these kids eyeing the NBA aren't interested in the college education. They're looking to be mainstays in the NBA. That's not to say they shouldn't be interested in the degree in case they don't make it in the NBA, but some of the overseas leagues pay more than enough to live a comfortable life and they still get to play a game they love instead of going to a 9 to 5.</p></blockquote><p></p>
[QUOTE="BMoreIllini, post: 1522942, member: 631021"] I think $3 million made by "lots of people in their lifetime" is really overestimating the average income that the average American makes. In 2017 the median personal income was $31,000. The average bachelor degree holder makes about twice that ($61,000). So for the average American, looking at mean income, working for 40 years, makes about 1.2 million (not accounting for inflation which I don't think is necessary for my point) in their lifetime and the average bachelor degree holding American working for 40 years earns about 2.4 million in their lifetime, but that's 40 years of work to not touch what Luther made in a decent NBA career (6 years). Think about the communities a lot of these kids grow up in, do you think a lot of these kids grow up in white collar communities where the average household income is 100k+? The minimum salary in the NBA is about $582,000, which yes, will get taxed at a higher rate, but making that income up front still allows for greater gains if put in a retirement fund (I know, wishful thinking for a 19-23 year old). I understand where you're coming from, but largely, these kids eyeing the NBA aren't interested in the college education. They're looking to be mainstays in the NBA. That's not to say they shouldn't be interested in the degree in case they don't make it in the NBA, but some of the overseas leagues pay more than enough to live a comfortable life and they still get to play a game they love instead of going to a 9 to 5. [/QUOTE]
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Kahlil Whitney leaving Kentucky
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