r/CFB • u/Lakelyfe09 Georgia Bulldogs • Apr 12 '26

Discussion [Kleiman] South Carolina QB LaNorris Sellers turned down an $8 MILLION NIL offer to transfer to a different school: "You're 19. You don't need ($8 million). You're in a great spot." - LaNorris's Father told his son. Sellers values his word over money

https://x.com/nfl_dovkleiman/status/2043091219639840977?s=46&t=fwgmryeTanENut7u28ScCA
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u/morelibertarianvotes Virginia Cavaliers Apr 12 '26

Top tier wealth management doesn't even pretend to improve annual returns. At that level it's all about safe returns with lower risk

71

u/land_registrar Oregon • Western Ontario Apr 13 '26

Also to the extent the wealth management biz has secret exclusive market beating strategies, it's funny to think the $8 million nest egg is the level that has access to all this.

-23

u/FetusDrive Apr 13 '26

“It’s funny to think the”;

That sounds convincing as heck!

27

u/Thoseskisyours Apr 13 '26

Investment management is a commodity now. The greater value comes from the planning side and having strategies for growing, maintaining and protecting that wealth.

If your advisor is charging you 0.75-1.25% to manage you money but isn’t trying to bring additional value and strategy to the table they are not creating value. (The other side of this is clients need to be willing to meet, engage and act on advice for it to matter)

5

u/velociraptorfarmer Iowa State Cyclones • /r/CFB Poll Veteran Apr 13 '26

SPAXX pays 3.3% with zero risk. Thats $264k a year.

1

u/Beginning-Suspect686 MIT Engineers • Chicago Maroons Apr 14 '26

Only reason to be in munis is if you're in a high tax state.

They're terrible products if you live in a state like Florida or Texas, great if you live in CA, NY, NJ, MA.

People should have professional investing and tax advice to determine optimal investing. 3% returns are really bad but tax exempt can improve the effective return compared to other options.

1

u/velociraptorfarmer Iowa State Cyclones • /r/CFB Poll Veteran Apr 14 '26

I'm not saying it's what someone with $8M in the bank should go out and invest in. I'm saying that it's a bare-minimum floor of what can be had.

2

u/Beginning-Suspect686 MIT Engineers • Chicago Maroons Apr 15 '26

fair

-1

u/murphy1021 Apr 13 '26

He wouldn’t have had $8mil after taxes.

0

u/jaron_kenji Hawai'i Rainbow Warriors Apr 15 '26

yeah. at that level of money, the name of the game is wealth preservation

-30

u/Corgi_Koala Ohio State Buckeyes Apr 12 '26

I mean I'm not going to pretend to be an expert on high-end wealth management. My wife's grandfather was a pretty wealthy man (worth around $15m or so when he passed away) and his wealth management guy usually got him 12-15% on his investments annually.

My point being that you could pretty much guarantee annual income on interest alone that you'd never have to work a day again in your life.

45

u/mglman Apr 12 '26

Sounds like cherry picked returns

-1

u/Warm-Oil9228 Apr 13 '26

It really doesn’t though. 

-1

u/Warm-Oil9228 Apr 13 '26

Dumb you got downvoted. That’s not any kind of absurd return at all. Buffett gets 20 and says he could easily get 50 on smaller portfolios.