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09-16-2012, 11:59 PM
  #122
LyricalLyricist
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Join Date: Aug 2007
Location: Montreal
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Quote:
Originally Posted by waffledave View Post
I don't understand the hate players are getting for this. Yes they are paid a lot of money but don't forget that their careers are very short. The average NHL career is 5 years... Say you retire at 34 years old (a decent NHL career), you still have at least 40+ years to live your life with no income coming in. And most of these guys have a relatively expensive lifestyle to maintain (ie: big houses, higher property taxes, higher costs to maintain the house, etc...).

Yes yes, I already know the reaction I'll get. "Well these guys should just live more modest lifestyles! I get by just fine with my ****** apartment and my $15/h job!"...Please, be realistic. When you are paid this much, you adopt a lifestyle to match it. You want to give your family everything possible. That kind of lifestyle is expensive to maintain, and yes, maybe a hockey player will walk away at 34 years old having with, say, $15 million in the bank, but that also means they have to live the rest of their lives off this money...It's still a lot of cash, but it amounts to something like $375k a year for the rest of their lives.

Factor in taxes, factor in divorces, factor in wanting to leave money for their children, factor in trying to maintain a nice lifestyle for your family...It doesn't go as far as you'd think. And in my example, we're talking the top 15% of NHL players...The rest make much less money and walk away with much less, which is why so many role players look for other careers in broadcasting, scouting and coaching.

These guys only have a small window to maximize their earnings. Don't fault them for taking advantage.
Sure, they maintain a higher lifestyle but as you said, why not be more modest? If players don't know they have a 20 year window(at best) for player earnings they should go bankrupt. I harder care. I mean, most people know they work till they are 65 and need savings and pension after. If you're a pro and don't get that then you deserve it.

Besides, whatever they buy, their ferraris and big house can always be sold for more modest arrangements and there's always jobs in coaching later on.

The NHLPA should prepare them for proper money management, half the guys have high school at best so I guess it wouldn't hurt.

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