Kene signs rookie contract

[acoustimac]

Vikings Sign Fourth-Round RB Kene Nwangwu — NFL Trade Rumors

Chris Tomasson reports that the Minnesota Vikings are signing fourth-round pick RB Kene Nwangwu to his rookie deal. The Vikings have now signed six of their 11 draft picks: Round Player Pos. Note 1 Christian

apple.news

pretty cut and dried. Typical rookie contract.

 

[I-stateTheTruth]

Vikings Sign Fourth-Round RB Kene Nwangwu — NFL Trade Rumors

Chris Tomasson reports that the Minnesota Vikings are signing fourth-round pick RB Kene Nwangwu to his rookie deal. The Vikings have now signed six of their 11 draft picks: Round Player Pos. Note 1 Christian

apple.news

pretty cut and dried. Typical rookie contract.

Signing bonus of $752k. That doesn't suck.

 

[VeloClone]

Signing bonus of $752k. That doesn't suck.

That's a pretty good payday for a kid fresh out of college. Better than my first paycheck...

 

[DeereClone]

That’s a nice bonus/salary while he proves himself...congrats to Kene!

 

[JP4CY]

GREAT kid. Gonna miss him.

 

[CloneGuy8]

That will buy a lot of Juicy Lucy's

 

[helechopper]

Ummm...I think he's going to be alright.

Could you imagine over 700K just dropping in your account on a Friday afternoon? Drinks are definitely on him!

 

[Lineup]

Good for him always my favorite, hard worker and damn fast!

 

[IcSyU]

Ummm...I think he's going to be alright.

Could you imagine over 700K just dropping in your account on a Friday afternoon? Drinks are definitely on him!

He still had a good Friday...don't get me wrong...but realistically he actually got about $325k.

35% federal tax give or take
10% MN tax
7-10% to agent
Additional union dues

 

[mred]

35% federal tax give or take

Not to get off topic, but isn't federal withholding on bonuses 22%?

 

[Aclone]

Not to get off topic, but isn't federal withholding on bonuses 22%?

22% under a million, 37% over.

Not that I have to worry about the latter.

 

[usedcarguy]

So after all is said and done, at the end of year one he should have around $700k in his pocket. At his age, invested appropriately, his retirement will be fully funded, even if he wants to retire at age 40. If he can hang on until the end of his rookie contract, he'll never have to work again.

But with that being said, it's still highway robbery for getting fleeced out of half of what he makes.

 

[83cy]

Not to get off topic, but isn't federal withholding on bonuses 22%?

Depends. Doesn't matter what withholding is he still owes roughly $245,000 fed tax and roughly $70,000 Mn tax and fica and medicare tax but still a nice sum.

 

[SaraV]

 

[mred]

Depends. Doesn't matter what withholding is he still owes roughly $245,000 fed tax and roughly $70,000 Mn tax and fica and medicare tax but still a nice sum.

Clearly he needs to get married quickly so he can get the tax brackets shifted.

 

[20eyes]

So after all is said and done, at the end of year one he should have around $700k in his pocket. At his age, invested appropriately, his retirement will be fully funded, even if he wants to retire at age 40. If he can hang on until the end of his rookie contract, he'll never have to work again.

But with that being said, it's still highway robbery for getting fleeced out of half of what he makes.

All true, but this kid could have his own engineering firm after football. Not worried about Kene...whatever he wants to do...

 

[Bipolarcy]

That's a pretty good payday for a kid fresh out of college. Better than my first paycheck...

I worked 35 years before I earned that much. When I went to the Social Security office when I was getting ready to retire, they told me I had earned just over $1 million in my lifetime after nearly 50 years of working. My dad probably earned less than half that in his lifetime. He was in the Air Force for 21 years and then worked 20+ years in a factory at a starting pay of $2.35 an hour, which was good money in those days. I don't think he ever earned as much as even $10 an hour through the years, even though he made foreman at his factory job.

 

[Cyclad]

That's a pretty good payday for a kid fresh out of college. Better than my first paycheck...

As an engineer, I got $940/month

 

[NWICY]

Clearly he needs to get married quickly so he can get the tax brackets shifted.

LOL.

 

[DrClone]

So after all is said and done, at the end of year one he should have around $700k in his pocket. At his age, invested appropriately, his retirement will be fully funded, even if he wants to retire at age 40. If he can hang on until the end of his rookie contract, he'll never have to work again.

But with that being said, it's still highway robbery for getting fleeced out of half of what he makes.

Not to worry. With the way the government is spending their only going to go up.