Movement.

[Tony Currie]

Indeed, but it doesn't set you up for life.

You kidding!!! 6% interest on that gives you wage of £120K per year,

 

[Bladesman]

I’m surprised I’m having to ask this of a seasoned and respected (cough) poster but......

.....FECKIN SOURCE?

Hendos or HP?

3rd hand info from someone fairly high up at the club. Like I say RC will know if it’s true or bollocks.

 

[Scooter_mcgavin]

You kidding!!! 6% interest on that gives you wage of £120K per year,

1 - he won't have saved 100% of his gross pay over 10 years.
2 - Where can you get 6% interest?

 

[Tony Currie]

1 - he won't have saved 100% of his gross pay over 10 years.
2 - Where can you get 6% interest?

1. True, but he will have invested heavily into a pension fund (all footballers do as it is very tax efficient!)
2. iShares plc FTSE UK Dividend (IUKD) - pays Dividend yield 6.85%

 

[blademark]

Lets say he's averaged 4k a week for the 10 seasons prior.

I guarantee this kind of income does NOT set you up for life or anywhere near.
[/QUOTE

1. True, but he will have invested heavily into a pension fund (all footballers do as it is very tax efficient!)
2. iShares plc FTSE UK Dividend (IUKD) - pays Dividend yield 6.85%

I reckon by the time he's 55, he will have a pension pot worth over £3m, at todays values. That's just assuming he's paid at least 10% of his earnings as a footballer into it.

 

[HydeParkBlade]

Fucking hell this is boring

 

[boss hog]

Lets say he's averaged 4k a week for the 10 seasons prior.

I guarantee this kind of income does NOT set you up for life or anywhere near.

Set me up for life no problem and my three kids.

 

[blademark]

Fucking hell this is boring

You're quite young aren't you

 

[BLADES1988]

Change the lot into Euros and watch it grow!

 

[Mad Mick]

As a retired IFA I find some of the figures quoted on here interesting but not always accurate. I'll leave you guys to have more fun.

 

[Jan Age]

It’s laughable really that some people are suggesting that 4K per week for 10 years would not be enough to retire on... guaranteed it would and you would live comfortably

 

[blademark]

It’s laughable really that some people are suggesting that 4K per week for 10 years would not be enough to retire on... guaranteed it would and you would live comfortably

Even that is very conservative. I'd guess he was on £12-15k per week plus promotion bonuses last season, he could have earned around £800k just last season

 

[Scooter_mcgavin]

Set me up for life no problem and my three kids.

You retired at 34?

Fair play.

 

[Scooter_mcgavin]

It’s laughable really that some people are suggesting that 4K per week for 10 years would not be enough to retire on... guaranteed it would and you would live comfortably

Absolute tosh.

 

[Th!stledo]

I couldn’t be bothered mate. Bit short of time but noticed the latter exchanges. I don’t blame him for asking either. It’s the hint of entitlement that troubles me. The club decides whether and when to offer a renewal of contract, not the player. If Duffy wants to have a tantrum and leave, that’s his prerogative too, but he doesn’t deserve any sympathy. He has a year left on his contract. Nobody is throwing him out. He has no moral high ground here at all.

You're right it can come across that way when you don't negotiate from a point of strength. Duffy should have proven his value in the Premiership first. The 'begging bowl' approach, relying on sentiment/loyalty rarely ends well.

 

[Scooter_mcgavin]

Pointless discussion we're having here (of which I've contributed too admittedly).

Should get back on topic of movement.

 

[ThroughThinAndThinner]

It’s laughable really that some people are suggesting that 4K per week for 10 years would not be enough to retire on... guaranteed it would and you would live comfortably

Once tax is taken off (assuming no creative accounting) that would leave you with just over 1.2m.

Assuming Duffy lives in a conservative 300k house, you now have 900k after the mortgage is payed off. So spread over 60 years (assuming independent living of 20-80 years of age) you’ll have 15k a year. Once you factor in car/heating/food etc. it’s not a vast sum to live on comfortably.

If Duffy wanted to pay for his kids to go to private school for example he’d be paying ~10k a year.

 

[Harrisblade]

Absolute tosh.

Perhaps if he took on some sort of paid employment when he finished being a pro footballer. he'd have enough money to live very comfortably indeed?

 

[BladeInIreland]

So are we having a whipround or not?

 

[Th!stledo]

Perhaps if he took on some sort of paid employment when he finished being a pro footballer. he'd have enough money to live very comfortably indeed?

Perhaps lorry driving and some commentating on a local radio station?

 

[blademark]

Once tax is taken off (assuming no creative accounting) that would leave you with just over 1.2m.

Assuming Duffy lives in a conservative 300k house, you now have 900k after the mortgage is payed off. So spread over 60 years (assuming independent living of 20-80 years of age) you’ll have 15k a year. Once you factor in car/heating/food etc. it’s not a vast sum to live on comfortably.

If Duffy wanted to pay for his kids to go to private school for example he’d be paying ~10k a year.

Don't forget that if he's been well advised, he will have forfeited a big percentage of his salary into a pension investment fund, therefore not paying tax on that amount, and I'm not joking when I say that he will be able to live the life of Riley on his pension alone.

 

[SteveBlade]

Lets say he's averaged 4k a week for the 10 seasons prior.

I guarantee this kind of income does NOT set you up for life or anywhere near.

Well, I'm fucked.

 

[Ossett Blade]

Richard Cadette just deleted his account reading this shite.

 

[ThroughThinAndThinner]

Don't forget that if he's been well advised, he will have forfeited a big percentage of his salary into a pension investment fund, therefore not paying tax on that amount, and I'm not joking when I say that he will be able to live the life of Riley on his pension alone.

Ok so let’s assume a pension contribution of 15%.

He’ll have a take home of 1.05m with 312k in his pension pot (before employers contributions and interest).

Assuming the 312k is enough to retire on at 55, he’s got 1.05m to last 20-55. Minus the 300k house leaves 20k per year for 35 years.

Don’t get me wrong, it’s not a bad position to be in, but nor is it the glamour people seem to expect. Especially if you’ve been living a footballers lifestyle!

 

[Pedro Verde]

I really do feel sorry for the poor dears who not only have the career that most people would die for earn many times over the average wage finish their playing days in their mid to late 30s then have 20 years to do something else earning wise, be it staying in the game in some form or if they have been given the right advice building up their savings via investments or a property portfolio which Fowler the ex Liverpool player did quite succesfully

 

[MobileBlade]

Don't forget that if he's been well advised, he will have forfeited a big percentage of his salary into a pension investment fund, therefore not paying tax on that amount, and I'm not joking when I say that he will be able to live the life of Riley on his pension alone.

Can only pay max £40K a year in to pension to gain tax relief. Outside of that you still pay tax on what you pay in, and then pay tax when you draw down so its a bit of a double whammy. That's why all these rich people look for other tax avoidance schemes.

*I am not a pensions expert).

 

[Kanye]

Lets say he's averaged 4k a week for the 10 seasons prior.

I guarantee this kind of income does NOT set you up for life or anywhere near.

Why should it?

Think of it another way, disposable would be 1m over those 10 years, that's without spending a single penny of it on food etc.

1m wouldn't set me up for life at 33.

If he averaged £4k a week, for 10 years, and invested 25% into his pension, then he'd have over £750k, assuming its invested decently.

Even if he was only making 5% on his money, he'd be making nearly £40kpa, just in interest, without touching the nest egg.

Considering that's more than the average full-time salary in the UK, to say he couldn't retire and live off that money is demonstrably wrong.

Whether or not he'd be able to fund the lifestyle he's accustomed to is a different question, but the fact remains that the money could/would set him up for life, in a sense that he could never work another day in his life and still earn more than Joe Bloggs.

I also dont see why £1m wouldn't set you up for life either? You must have staggering expenses if so.

 

[YES Blade]

1. True, but he will have invested heavily into a pension fund (all footballers do as it is very tax efficient!)
2. iShares plc FTSE UK Dividend (IUKD) - pays Dividend yield 6.85%

So put money in this fund? The price has dropped over 10% in a year!

iShares plc (IUKD) FTSE UK Dividend Share Price | IUKD

The latest iShares plc share price (IUKD). View recent trades and share price information for iShares plc and other shares.

www.hl.co.uk

 

[Houso]

Holy shit, what has happened to this thread?

 

[Paisley Blade]

Can only pay max £40K a year in to pension to gain tax relief. Outside of that you still pay tax on what you pay in, and then pay tax when you draw down so its a bit of a double whammy. That's why all these rich people look for other tax avoidance schemes.

*I am not a pensions expert).

* Well you had me right up to your disclaimer .