Scripture quotations marked KJV are from the Holy Bible, King James Version (Authorized Version). First published in 1611. Quoted from the KJV Classic Reference Bible, Copyright © 1983 by The Zondervan Corporation.
Scripture quotations marked NIV are taken from the Holy Bible, New International Version®. NIV®. Copyright © 1973, 1978, 1984 by International Bible Society. Used by permission of Zondervan. All rights reserved. [Biblica]
IF I ONLY KNEW
No More Excuses
KEYVEN LEWIS
If I Only Knew
No More Excuses
Keyven Lewis
Copyright © 2015 by Keyven Lewis.
Library of Congress Control Number: 2015912791
ISBN: Hardcover 978-1-5035-9389-3 Softcover 978-1-5035-9388-6
…show more content…
The categories listed below were selected because these are the areas the general public see where professional athletes spend their earnings. The following chart has a generic breakdown of those living expenses.
• Agent—fee for the person responsible for your compensation/ salary • Housing—your primary place of residence
• Clothing—exp. lavish jewelry, designer clothes, etc.
• Transportation—exp. automobiles
• Personal—exp. pocket money
• Debts—the goal is to get this number to zero dollars and keep it that way
• Other—all other expenses
Agent Housing Clothing Trans. Personal Debts Other
(5%) (20%) (2%) (10%) (5%) (5%) (28%)
Annual $60k $238k $24k $119k $60k $60k $267k
Career $240k $952k $96K $476k $240K $240K $1.07 mil
* Categories will vary based on the individual and should include medical (10%) and insurance
(10%), which were omitted to accommodate the size of the
…show more content…
ο Rule of Thumb:. Set your budget to what lifestyle you can sustain up to your full retirement age of sixty-seven (i.e., Derek should set his annual budget to roughly $208,000 based on his NHL career earnings of $8.51 million).
Give to everyone what you owe them: If you owe taxes, pay taxes; if revenue, then revenue; if respect, then respect; if honor, then honor.
—Proverbs 22:7 (NIV2011)
• New home purchases should not exceed career earnings allocations. ο Example: Corey should not purchase a house that exceeds the $2.37 million budgeted out of his six-year career earnings in Major League Baseball. ο Rule of Thumb: Buy a house that falls within your monthly budgeted amount using a fifteen-year fixed conventional loan.
The rich rule over the poor, and the borrower is slave to the lender.
—Proverbs 22:7 (NIV2011)
• Automobile purchases should not exceed career earnings allocation ο Example: Alex should not purchase any number of motor vehicles that exceed the $476,000 budgeted out of his four-year career earnings in the National Football League. ο Rule of Thumb: Buy a certified used automobile that falls within your budget and pay cash for