Is $5 Million Dollars Really A Lot Of Money?

I wanna talk about a comment that former LA Clipper Lou Will made where he talked about an NBA salary of $5 million isn't a lot of money. What's your response to that as a business manager?

This is an LA— living in LA, I would say Lou Will is correct and incorrect. $5 million is a lot of money for anybody, right? No one should think that $5 million salary is not a lot of money, even after you chop it in half, taxes and you have to pay people on the team, you're going to be walking away with at least $1.25, somewhere around there, to $2 million. $1.25 to $2 million. That's money that you can put away with— put away and live on. But there's no world that exists where $5 million is nothing.

It's all about, like, like you said, setting yourself up for success, having the right team in place. And when you do come into the money, whether it's $5 million, $1 million, or $30 million a year, yeah, you're going to get hit hard with taxes, especially in a state like California. But at the end of the day, you're still going to have to pay the taxes. So having a team in place to help you navigate that And be prepared.