paychecks in pro football

[MillennialDem]

22. For taxes? This is a rough back of the envelope calculation because I'm running late

Ok roughly 6.2% on first $100,000 (slightly more, meh)

100,000/750,000 = 1/7.5. So 6.2/7.5. We'll call it 1%

Medicare is 1.45%

Ok so we'll call payroll taxes 2.5%

For federal and state income taxes and payroll taxes, it's going to be about 40-45% in total when you factor in less than half of 750k is in the top 39.6% bracket.

So 45% of 2,625,000 = 1,181,250 taken out for taxes.

1,443,750 left for me.

443,750 is more than enough to cover MY expenses for the 3.5 years I'm working, leaving me the million left over. 443,750 is more than enough to cover my expenses and buy a house free and clear.

So after that

7% investment on 1,000,000

Leaves $70,000 a year

Keep 40,000

Reinvest 30,000

$40,000 per year starting in 2019 + a 3% raise every year with no mortgage payment.