Ty Warren is giving up a good chunk of change to stay in school and finish his degree. Good for him.
OT - Patriots' Warren forgoes bonus to work on degree
good for him. i wonder if this is going to be more common with the lockout coming up? Or if we're just not hearing about people finishing up their degrees. Either way, congratulations.
Man I could have sworn someone invented online classes a few years ago. I must have been wrong. Also how long would it take for his ag degree to generate the 250,000 he just passed on. Maybe during the impending lockout would have been a good time to finish up instead of now...I mean he could have paid for it with a part of the 250,000 he just passed on...what a dummy.
You should offer to be his life coach. We can judge his stupidity based on his response...
You might think that in the short term, it's best to take the money, but the degree really is more valuable. It's been well documented that 78% of NFL players are bankrupt or in financial distress within 2 years of retiring.
If you leave the NFL without a degree, you're going to have it pretty rough. Sure you made a lot of money for a couple years, but over the course of your lifetime you will probably earn more with your "normal" career than you did with your football career.
this is a very smart move especially given the way the economy has been lately. also is it so hard to think that he's goin back to school for more personal reason? ie being a role model for his kids and completing it just to have the satisfaction of having a college degree. many of us may take that kind of thing for granted but alot of people out there having a college degree is a big deal and huge accomplishment.
Just take that 250,000 and put int a money market and never touch it. Then when you retire you can pull it out and use it for your education. In the end you'd have a degree and likely a lot of that 250k left over.
hey look, a thoughtful reply with actual evidence. a hearty +1 to you, MgoMatt.
Yes education is good...but 250,000 that can be used to not only pay to finish your degree but even in a simple money market account be enough to payoff your kids college. If he was able to find 5 percent in returns he would double that money in 15 years which would be 500,000 to give to his kids or a charity. No one said not to get your degree, but to leave that type of money on the table because you are finishing up a degree that you are in pace to have in the spring...1 semester....he could finish the damn thing in a year and have a degree. I mean he does plan to play this season right? Well what about having some loyalty to your current employer who is paying you MILLIONS of dollars. My point was he can have both and not only be a good example to your children but add to their financial future.
I think that this is a terrible decision based on timing not on intent.
Also when you consider that the average American will work for 50 years with a degree and barely break a million for his life time...a 250,000 bonus represents 8-10 years of average american pay. We can't just be seals and mindlessly clap that he got his degree. The smarter/wiser decision is to get both.
Shouldn't forget its pretax. I would assume he's taxed at 35%, but if this 'bonus' is considered a bonus like the rest of us get, could very well get taxed at 40%. Leaving him with $150k or so.
We don't know his situation, maybe he made a promise to his mom or something.
if you read the piece warren also talks about setting a good example for his children. if you take into account the fact that his kids will now have a greater respect for 1) being responsible and 2) higher education i think the $250,000 he passed up is chump change. your question of "how long would it take for his ag degree to generate the 250,000 he just passed on" is going to be answered over more than just his working years. he is raising 3 kids with from what i can tell from this story are very high standards/ethics/morals. kids like this are probably worth millions down the road. would 250,000 today be worth millions down the road? yes. but he probably has no "need" for the money and the fact that he "invested" in his kids is a great choice. calling him a dummy is probably a little off... i'll call him a MAN!
And so many philosophy/lit students end up going to law school anyway.
I'd have transferred to a school in the Boston area and done the work on the side. There are some "okay" schools in the area. It's a great idea to get his degree, but the average college degree holder earns about 900K more than the average high school grad. He just gave up 27.8% of that.
That said, good for him.
Ed: I'm at work, and I typed "average college grad vs high school" into Google to get the cited data. After finishing "average" in the search box, the FIRST suggested search was "average penile length." The internet may expand, but it's still basically for porn and anonymous banter.
The first suggested search to "is it wrong" is "...to sleep with my sister." YES PEOPLE, YES IT IS.
He is very well liked in the Bryan/College Station community and this act is another example of him having his values in the right place. Gig 'Em
Good for him, wish him the best of luck and hope he gets it soon.