November 29th, 2022 at 7:14 PM ^
Good luck to him and his family. Next
November 29th, 2022 at 8:32 PM ^
Take the $ and transfer to Mighigan the following year. Pull a Ewers.
Yes, he'll miss out on the superior year of freshman development, but if the family needs the cash now, he can catch up after.
November 29th, 2022 at 7:15 PM ^
Hello recruits. We are the number two team in the nation. We have made the College Football Playoff in back-to-back years. We send the fifth most players to the NFL. We have the best offensive line in the country. We are happy warriors.
November 29th, 2022 at 7:22 PM ^
We have not yet made the playoff the second time.
November 29th, 2022 at 7:25 PM ^
We have, it just hasn't been officially announced yet.
November 29th, 2022 at 9:14 PM ^
You're kidding, right? We are in. When the committee puts your team at No. 2 after you've beaten the previous No. 2 and you also beat the No. 8 team, and you beat both by three TD margins, better than anyone else in the country including Georgia, you are in.
OSU is at No. 5 and isn't playing again. Meaning it has to hope USC loses. TCU really should be in without consequence of Saturday's result. But by moving Alabama to No. 6, the committee is imposing its will on chaos playoff scenarios.
But Michigan is most definitely one of the two semi-final games on New Years Eve. Book it!
November 30th, 2022 at 12:22 AM ^
Whew, what a hill.
November 29th, 2022 at 7:31 PM ^
Also…we are on a happy mission
November 29th, 2022 at 7:39 PM ^
With multiple War Daddies
November 29th, 2022 at 8:05 PM ^
But will said mission have a happy ending?
I really like happy endings.
November 29th, 2022 at 8:29 PM ^
Yes....
November 30th, 2022 at 5:54 AM ^
I swear every post you make is either the Jessica Alba gif or this abomination of an image. Please more of the former, less of the latter.
November 29th, 2022 at 7:56 PM ^
Not to mention the most important part, Michigan has a FAR superior education. But he's 17. So, meh.
November 29th, 2022 at 8:45 PM ^
Education isn’t what you need if the wolves are at your door. Give the kid a break. I wish him well.
November 29th, 2022 at 8:00 PM ^
And we all say the Lord’s Prayer together when we whup OSU’s ass.
November 29th, 2022 at 8:28 PM ^
Whupping OSU is doing the Lord's work, no matter if you have any religion, are agnostic or atheist. The universe knows good works.
November 29th, 2022 at 8:10 PM ^
but we don't pay enough
November 29th, 2022 at 11:50 PM ^
Hello recruits. We aren't competing for championships, but we can offer you life changing money immediately with no strings attached. Sign here, and we'll shower you in more moner than you've probably ever seen in your life, and you can do whatever the hell you want with it. If you still play well enough, you'll still probably get the NFL to add to that stack. We are happy millionaires either way.
/s
I'm not saying either way is the right way, but sometimes life is about more than winning some college football games, especially if you don't come from a well off or even middle class upbringing.
November 30th, 2022 at 3:09 AM ^
It makes sense for the kid to do it.
It makes no sense for Miami to do it. Hence Miami being the tire fire they are now with excellent athletes that they can't get to play with cohesion.
November 29th, 2022 at 7:15 PM ^
Well he has to do what’s best for him and his family, so best of luck to them.
In general though, I don’t understand why d linemen aren’t lining up to play here. Offensive linemen too, come to that
November 29th, 2022 at 7:21 PM ^
Who says that they aren’t? Last year was a good crop. This year is a solid one. Next year looks promising.
November 29th, 2022 at 9:16 PM ^
This years class is down.
November 30th, 2022 at 7:34 AM ^
way down
November 29th, 2022 at 7:24 PM ^
He’s 17. When my oldest son was 17 he thought “deferred gratification” meant waiting until the evening to spend whatever money he had instead of that afternoon.
I know nothing of this young man’s personal situation (other posters stated he needed money now) but I do know that at every company I’ve worked at we had to literally beg workers under 30 to sign up for the 401K plan and even with a lucrative company match we were lucky if 20% enrolled.
November 29th, 2022 at 7:55 PM ^
Turning down free money is pretty stupid.
November 29th, 2022 at 8:07 PM ^
That’s only true if the company is paying an amount that exceeds your necessary expenses
November 30th, 2022 at 3:05 AM ^
"Necessary" can have a quite different definition among people in the same position. If you are looking for an excuse to spend truly discretionary money instead of investing it, you will find it.
November 29th, 2022 at 8:09 PM ^
Thats so weird, ive never met a single person who i work with who hasnt done the match minimum.
November 29th, 2022 at 8:29 PM ^
I just turned 31. I don't put my money in there. I invest it myself. 3 percent is bullshit. Most of the people I work with who are not over the age of 35 don't use it either.
I know people who've been putting money into it for years and only have 20 or 30k to show for it. How exactly is that supposed to last for 10 or 20 years?
November 29th, 2022 at 8:34 PM ^
Google “compound interest”.
November 29th, 2022 at 9:04 PM ^
Do what you want, but pretty much everyone disagrees with your opinion.
1) 401k with company match is free money and you earn it faster than investing yourself. Let’s say you make $100k a year. Company matches 0.5% for every 1% you put in up to 3%. By putting in 6% ($6000) of your money every year, you’re getting a free 3% ($3000) put in as well. Doubt you’re getting 50% return on your own investments annually. And it’s pretax so you pay less annual taxes. Until you start using it anyways, but that can be offset by maxing out your Roth every year.
2) every 401k I have ever had, I choose what it is invested in
3) compound interest. the money doesn’t really start to stack up until 30 years or so.
November 29th, 2022 at 9:22 PM ^
Exactly. The money you invest in your 20s and 30s is going to be the majority of your portfolio when you retire.
November 29th, 2022 at 9:21 PM ^
The money you're putting in now will account for most of the amount when you retire because of compounding interest. I'm only 27 so have like 20k in my 401k, but know that this is the most important time for me to be saving. It's also not that you're making 3% off your investments, it's your employer that matches the 3% you put it. So if you make 100k and put in 6% or 6k, your employer also matches up to 3% and adds another 3k, and you're getting a 50% return. I don't know about you, but I'm not up 50% on my personal investments for the year.
November 29th, 2022 at 9:59 PM ^
Ohhhhh Not a Duck. You really need to reevaluate. Good luck to yoi.
November 30th, 2022 at 6:15 AM ^
I know a ton of other people have already urged you to reconsider, but a few additional points:
1. Investing money yourself means you're investing post-tax income, and giving up a sizable percentage right there. Anything you invest in the 401k reduces your taxable income for the year, so essentially you save whatever your marginal tax rate is on those investments. This benefit will really compound over time.
2. The match is an additional perk of employment (think of it as "free money" if it makes more sense) that you are essentially foregoing by not contributing.
3. I'm not sure where exactly you work, but most employers give a range of investment options within the 401k. While this isn't investment advice, most of the time there's a fund with very very low fees that essentially tracks the S&P 500 or another major index. For most people this is the best option, and you're going to be hard pressed to beat these types of indices long term if you're investing on your own. Sure, it can be done, but it either requires luck or an immense amount of time/skill to beat the average market return long term. And it's debatable whether that time is really even worth it, as average market returns will get you all you need to retire assuming you start now.
November 29th, 2022 at 8:11 PM ^
MGrowOld,
It costs a lot more to live in your 20s than it used to. Salaries/wages for young people haven’t kept pace with cost of living. Even for fiscally responsible kids a 401k can be really hard when you are trying to buy a house, might need grad school, let alone taking care of other family members.
November 29th, 2022 at 8:30 PM ^
On top of my previous comment, I agree with this also. I've made 70k a year the past 2 years and I'm struggling to make ends meet. I live on my own and don't have any shared expenses. I also have made a few poor financial decisions, I will admit that, but I have no idea how I'm going to save up for a down payment on a house unless I make 100k plus. It just isn't possible.
November 30th, 2022 at 10:47 AM ^
$70k a year should be enough to live on and have some discretionary unless you live in Seattle or LA. Even areas like Ann Arbor are expensive to live in. Can you find a place that is slightly further from work but costs less per month?
Look at your expenses honestly and find ways to reduce them by either cutting them out altogether (or temporarily) or finding less expensive alternatives. Some of the areas I find that many people can spend less in are dinning out or entertainment. Can you take your lunch? Can you use streaming services instead of cable?
If you're servicing a lot of credit card debt try using a debt snowball strategy to pay them down faster and then use that freed up cash to invest.
As for the 401(k) you absolutely need to be taking advantage of free money. Yeah 3% doesn't seem like much but it adds up dramatically over time. A 3% match on $70k is $2100/year and at an 8% ROR can turn into $64k in 10 years (including your 3% contribution).
November 30th, 2022 at 5:57 AM ^
I tell the young ones at my workplace to start with what they can afford, even if it's 1%. Then at their next raise, add a percent. The money is pretax, so unless they have every dollar accounted for from their pay, they can afford it. Most of the young ones where I work simply have to 'smoke' a little less, haha! Me, I had to knock off the good beer and slum it with Busch Light for a year or two. It can be done, it just has to be a priority, and obviously, there are situations that it just isn't feasible for some. Those folks I feel for, because life truly is hard.
November 29th, 2022 at 9:06 PM ^
Automatic enrollment with an opt out.
There have been lawsuits, successful lawsuits, from people who reached retirement age, realized they were broke, and sued their employers for not doing enough to encourage savings.
So I've always been on the side of "make them ACTIVELY disenroll." Most people are governed by inertia.
Add in auto escalation until you reach the maximum company match.
[And to everyone in this thread who quite obviously doesn't value building wealth for your future...please start. PLEASE start. This is free money, tax free growth, and tax savings either now or in the future. PLEASE.]
November 29th, 2022 at 8:14 PM ^
It's pretty funny how all the Miami analysts are trying to spin this flip as not being NIL related and how Cristobal is a great recruiter and they stayed persistent or whatever BS
November 29th, 2022 at 8:16 PM ^
Yep and Gattis is an offensive genius.
November 29th, 2022 at 9:24 PM ^
He is quoted as saying:
"Relationships were the most important thing to me," Acheampong said. "Miami was always the school that had the best relationships......I wanted to go to Michigan because of the success that they have had and the Harbaughs," he said. "But Miami was the only school that kept recruiting me the hardest and I had the best relationship with."
Im sure NIL played a part but it does appear that Miami kept recruiting him hard and Michigan was a placeholder spot for him and he had always wanted to go to MIA.
November 29th, 2022 at 9:36 PM ^
I mean, that may be partially true but he's currently their 2nd highest-rated edge commitment and only their 3rd over the past 2 classes. I assume if he had wanted to go to Miami he could have just signed with them.
There's always a relationship component to guys signing and this type of switch does lend some credence to the whispers we've heard that some guys on the staff may need to up their closing game, but you're also not going to hear these guys explicitly say "yeah I took the money because I needed it and Miami is quick to hand it out."
I wish the kid the best and I think UM will be fine but this year has felt off recruiting for a number of reasons and I'm not sold there's any single narrative out there that applies to it.
November 30th, 2022 at 6:10 AM ^
I hadnt heard the of the whispers that some guys need up their closing game but I agree that recruiting has been weird this hear. It will be interesting to see who doesn't sign early because that may give some insight into where commitments really stand.
November 30th, 2022 at 9:16 AM ^
Lol come on man, this was 100% a case of Michigan beating OSU and Miami seeing this as their last chance and throwing an offer he couldn’t refuse at a kid whose family needs it. No analysts/insiders saw this coming. If it was actually relationships there would been buzz but there was not. Miami just dropped a bag he couldn’t refuse because they saw Michigan becoming a school that would be hard to turn down
November 29th, 2022 at 7:17 PM ^
We can’t outpay Miami? Huh
November 29th, 2022 at 7:26 PM ^
I don't think we want to...
If a kid wants to go make a quick million, that's fine.
Michigan wins on culture, not one individual player. One day that might not be enough...but for now, we're doing just fine.
November 29th, 2022 at 7:30 PM ^
Exactly this.
Who was that tight end we had a while back, had an awesome freshman year and then transferred to UCLA (?) because of family issues? Whatever happened to him?
November 29th, 2022 at 7:38 PM ^
Devin Asiasi - 3rd round pick a couple years back for the Patriots.
He has had some injury problems and I believe he is now on the Bengals practice squad.