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Millionaire Pension Plan


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#1 VancouverCanucksRock

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Posted 06 January 2013 - 10:30 PM

LMFAO, what do millionaires need a Pension Plan for? Oh yeah, they are horrible with their frickin' money, and don't know how to put any away for the fiture. I could survive off of a half a year of Luongo's salary for the rest of my bloody life. What tools

Edited by VancouverCanucksRock, 06 January 2013 - 10:30 PM.

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#2 G-52

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Posted 06 January 2013 - 10:43 PM

The majority of people live paycheck to paycheck, millionaires are not always the exception. When you have lots of money you buy more expensive things. Your house costs more, taxes cost more, cars cost more, food costs more.

While I agree with your sentiment, I make 350k a year and I still run out of money constantly... lol
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#3 Lychees

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Posted 06 January 2013 - 10:45 PM

We all say that, but until you have that money how do you know that you won't be looking at things and being like "Oh, I have so much money it won't hurt", until it's too late?
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#4 VancouverCanucksRock

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Posted 06 January 2013 - 10:45 PM

The majority of people live paycheck to paycheck, millionaires are not always the exception. When you have lots of money you buy more expensive things. Your house costs more, taxes cost more, cars cost more, food costs more.

While I agree with your sentiment, I make 350k a year and I still run out of money constantly... lol

then maybe you should sell your $50,000 vehicle and buy a Prius. j/k doesn't have to be a Prius, but something similar in cost, or less

Edited by VancouverCanucksRock, 06 January 2013 - 10:47 PM.

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#5 stexx

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Posted 06 January 2013 - 10:46 PM

The majority of people live paycheck to paycheck, millionaires are not always the exception. When you have lots of money you buy more expensive things. Your house costs more, taxes cost more, cars cost more, food costs more.

While I agree with your sentiment, I make 350k a year and I still run out of money constantly... lol


yeah its funny how you spend whats in your pocket, i never thought i could spend as much money as i do but somehow i manage it.
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#6 VancouverCanucksRock

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Posted 06 January 2013 - 10:51 PM

We all say that, but until you have that money how do you know that you won't be looking at things and being like "Oh, I have so much money it won't hurt", until it's too late?

cause I've learned from my stupid fianancial mistakes. For example, I never go to the Casino anymore, not since shortly after they implimented the Auto Shufflers. Bastards!
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#7 Soren5556

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Posted 07 January 2013 - 05:07 AM

The pension is mainly for the players who make the minimum. Not all NHL players play a 10-20 year career, it also covers those who have to retire due to injury and so on. Their minimum is still a massive amount compared to most people but I'm sure there's more to it I just don't know.
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#8 Johnny Shotgun

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Posted 07 January 2013 - 07:43 PM

Pension plans for those who earn vast sums of money , work limited miniscule hours over a short period of months, demand to be treated like royalty ??? Who do these hockey players think they are.......politicians?
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#9 GarthButcher5

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Posted 07 January 2013 - 09:35 PM

This is part of the problem, most players think that playing in the NHL is an entitlement to be set for life. A rationale person would in fact be OK but most NHL'ers live well beyond their means.
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#10 King Heffy

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Posted 07 January 2013 - 09:41 PM

The players who really need it are the ones who are already retired. Read Net Worth for an idea on how Alan Eagleson truly screwed over the pension fund. Couple that with the fact that a lot of these guys don't even finish high school and are susceptible to very suspect financial advice, and it's a very useful program.
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#11 Samuel Påhlsson

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Posted 07 January 2013 - 09:54 PM

Because some people have no idea how to manage income. Or even live a reasonable life style.
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#12 canucklax

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Posted 07 January 2013 - 10:00 PM

The pension is mainly for the players who make the minimum. Not all NHL players play a 10-20 year career, it also covers those who have to retire due to injury and so on. Their minimum is still a massive amount compared to most people but I'm sure there's more to it I just don't know.


Exactly, most NHL careers are only a few seasons before an injury occurs or the player is demoted/signs to europe to play. Also taxes are higher for people who make more.
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#13 Gumballthechewy

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Posted 07 January 2013 - 10:25 PM

I can see it for plugs who make jack all and end up retired early because of injury but players like Crosby making 8 million a year shouldn't get jack.
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#14 canucklax

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Posted 07 January 2013 - 10:36 PM

I can see it for plugs who make jack all and end up retired early because of injury but players like Crosby making 8 million a year shouldn't get jack.


Well the vast majority of guys are the ones who either retire early, or are constantly shuffled between the NHL/AHL. It wasn't put in for the stars, it was the bottom 6 forwards, bottom pairing defenders and backup goaltenders of the league
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#15 poetica

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Posted 08 January 2013 - 01:27 PM

I'm not sure most of the people complaining about the players' pension plan actually understand it, or the fact that the players actually pay for it through their share anyway.

Here's a little more detail about the changes to the player pension plan:

Pension plan: Upgrade to defined benefit plan

This is what players are hailing as the big “win” out of all this. As it was explained to me, the major gains here are that the pension plan a) becomes a defined benefit one instead of defined contribution and b.) players are now able to contribute some of their own money.

In the last CBA, the pension plan essentially involved teams putting $49,000 a year per veteran player (at least 160 games played) into it annually, making it a cost within the players’ share (but not the cap) that added up to just under $1-million a team per season.

I had planned on writing on this in more detail prior to the lockout ending, but a lot of the disagreements there were on this front are now pretty well irrelevant. What is worth pointing out is that, historically speaking, NHL players between 1967 to 1992 received a very poor pension setup as a result of having Alan Eagleson in charge of the NHLPA.

According to some former players, they were told to forgo going for things like salary increases and more liberalized free agency in negotiations in exchange for the “best pension plan in pro sports” but it was actually far from that.

We’ve even seen during this lockout that retired former players, like Darren Turcotte, for example, have talked about how little their pensions are ($1,000 a month for some) and how important this issue is to players.

While it seems odd to many fans that there are superstars making big money with a better pension, this is a change that should help the many players making less than $1-million a season and who last only a few seasons in the league.

Source: http://www.theglobea...article6976187/
(This article has a nice breakdown of other components of the new CBA for anyone interested.)
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#16 SamJamIam

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Posted 08 January 2013 - 02:19 PM

Pension plans for those who earn vast sums of money , work limited miniscule hours over a short period of months, demand to be treated like royalty ??? Who do these hockey players think they are.......politicians?


Players often have to give up everything to get a spot in the NHL. If your only skill is "was a hockey player" then you're SOL in the job market after you've fulfilled your contract (which is usually a year or 2 for most fringe players). This is why Gillis wants so many of our players to have degrees.

Also, written like a true fatass who has no idea how much time and effort practicing/training/exercising takes.
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#17 Dragonfruits

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Posted 08 January 2013 - 02:49 PM

watch 30 on 30 Broke talks about athletes going from poverty or making very little to millionaires pretty much explains how an athlete in any sport can go broke
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#18 JAH

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Posted 08 January 2013 - 05:56 PM

Why are you complaining about something that they collectively bargained for, that you and I enjoy, and that you don't pay for? Why not complain about what someone DOESN'T have, instead of what they have?
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#19 mbal23

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Posted 08 January 2013 - 10:41 PM

I'm not sure most of the people complaining about the players' pension plan actually understand it, or the fact that the players actually pay for it through their share anyway.

Here's a little more detail about the changes to the player pension plan:


Source: http://www.theglobea...article6976187/
(This article has a nice breakdown of other components of the new CBA for anyone interested.)


my grandmas pension is more than 1000 a year and she didnt even work in canada plus she get free meds...
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