> half of it will never be seen by the athlete

Guaranteed benefits can be monetized. The gift’s goal is to start building generational wealth. But nothing prevents me from lending one of these athletes $50k today if they give me an LPOA over that death benefit tomorrow (assuming this doesn’t breach any covenants).

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stouset 4 hours ago | parent [-]

$200k is not even remotely close to generational wealth, particularly when structured as $100k 20 years from now and another $100k 50-ish years from now. Those would be worth an estimated $55k and $22k in inflation-adjusted dollars.

It’s a totally different story if those are in a trust which is invested on behalf of the athletes, which pays out the invested value at time of disbursement. But I would be shocked if it were set up that way. Pleasantly shocked but shocked nonetheless.

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JumpCrisscross 2 hours ago | parent | next [-]

An athlete who competes for a couple seasons would have the down payment for a house in each of those pay-outs. (And be able to, in all likelihood, borrow against it if they needed it earlier.)

	▲	saghm 2 hours ago \| parent \| next [-]
		Given how old most Olympic athletes are when they debut I'm sure that could be helpful if they don't incur any living expenses for another 2-3 decades afterwards
	▲	stouset 2 hours ago \| parent \| prev [-]
		We have now moved the goalposts from starting to build generational wealth to maybe part of a down payment on a house in a low-demand area in their mid-forties, assuming they have enough income to still qualify for the loan on the property. This is a great gift to the athletes, don’t get me wrong. There was just no need to oversell it.

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2 hours ago | parent | prev [-]

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