Michigan DE commit Collins Acheampong flips to Miami

Submitted by njvictor on November 29th, 2022 at 7:13 PM

Link

Rumor is that he's having some family adversity right now that makes the Miami NIL money more important, so I guess I can understand the flip

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Magnum P.I.

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.

Joined: 07/16/2009

MGoPoints: 30683

charblue.

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!

Joined: 05/25/2010

MGoPoints: 11405

CityOfKlompton

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. 

 

Joined: 10/14/2018

MGoPoints: 7995

bsand2053

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 

Joined: 04/14/2010

MGoPoints: 19337

mGrowOld

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.

Joined: 10/04/2010

MGoPoints: 212947

NotADuck

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?

Joined: 12/20/2013

MGoPoints: 18331

drjaws

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.

Joined: 02/26/2014

MGoPoints: 46778

matt1114

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.  

Joined: 01/08/2021

MGoPoints: 6873

berto714

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.

Joined: 09/18/2010

MGoPoints: 862

NotADuck

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.

Joined: 12/20/2013

MGoPoints: 18331

SeaWolv

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).

Joined: 12/16/2011

MGoPoints: 4895

chrisu

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.

Joined: 12/27/2014

MGoPoints: 3240

PopeLando

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.]

Joined: 08/01/2015

MGoPoints: 68312

cbs650

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. 

 

Joined: 02/07/2011

MGoPoints: 4826

bronxblue

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.

 

Joined: 11/22/2008

MGoPoints: 171773

cbs650

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. 

Joined: 02/07/2011

MGoPoints: 4826

njvictor

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

Joined: 07/20/2017

MGoPoints: 65155