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"5 Minutes Daily" Practice Challenge 1 2 3 4 785
By iacas, in Instruction and Playing Tips
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By ChetlovesMer ·
I'm not sure who we are referring to here. But that doesn't at all seem out of line. Today in America it's pretty common to have to pay out about half of your gross income in taxes. This is when you include Federal, State and City Taxes. Plus sales tax, capital gains tax, marriage penalty tax, luxury tax and property tax. Many Americans pay more than half their income in taxes if they live in a high tax city or state. Or if their income is especially high. Where my wife and I live, for example, our Property Tax Payment is getting close to about twice our Mortgage Payment, and that's not really uncommon. The idea is to offset at least some of these taxes by investing a chunk of what you earn. If this guy you are referring to, made a couple of not great investments, he may not have much that offset these taxes. He may also have purchased something like a multi-million-dollar home which has, for what ever reason, gone down in value. Or perhaps he is in the process of starting up a business venture that hasn't taken off yet. Here's another way to think about it. Estimate how much money you've earned in your career. Then take a look at your net-worth. This guy's net worth is about 44% of his earnings. I can tell you our household's net worth is not near 44% of our lifetime earnings. Plus, this guy may have had to pay a percentage to a caddie, and/or an agent right off the top. -
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By Zeph ·
When comparing money across decades, keep inflation in mind. $100 in 2003 is worth $165 in 2023 according to this. There's also more money in sports in general today than before. The LIV players are still ridiculously overpaid with money coming from oil. -
By Darkfrog ·
Day 12: Continued backswing mirrorvision work, did some full swing with balls, and a fit for golf workout. Elbow pain is gone, except for the motion of picking up my golf bag. Gonna try to restart stack next week.
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