Benardrick McKinney restructure

[DOLFAN_51]

Don't the players know this as well? Of course they do.

Howard could have opted to become a FA, but knew his injury history was a big factor in his value on the open market at that time.

How can you now say it wasn't fair? He obviously felt it was the best deal he could get at the time. You make your choices in life, and often have to live with some of the consequences.

If I make a $hitty deal financing a house, I can't go back and fight with my mortgage company because the interest rate is now lower.

It was the best deal for him at the time. He outperformed the deal and he wants to renegotiate. He is making an argument for why he’s worth more and it’s up to the team to make a decision. That’s it. It’s a business and I’m sure like most athletes in his position he would like to retire comfortably. I think that he has a valid argument and it would be mutually beneficial to make a new deal. I like his drive and his desire to be the best player at his position. Either way I hope the team continues to improve and becomes the next dynasty team in the NFL.

 

[SCOTTY]

You got me. It was a bad example.

Score one for Scotty, and minus two for Mach.........

 

[Mach2]

View attachment 81652

Hilarious......luv ya brother

 

[PhinFan1968]

You nailed the truth of the NFL with your last statement.

Contracts are irrelevant in the NFL. We'll put!

They're not irrelevant, but the teams hold all the cards...just how it is, and will be. If you sign for a particular amount of guaranteed money, you get that guaranteed money...that's not really irrelevant. Don't like it, don't sign.

 

[1972forever]

You've never refinanced your house? I call BS!!

I have lived in my present house for the past 34 years and paid it off after 10 years. I have never refinanced my home nor have I ever seen any reason to have to take out a loan against my home.

Of course I haven’t paid an interest payment on anything in the past 24 years and I have always lived well below my means. My question is why so many people do refinance their home loans simply so they can buy more stuff which they can only afford by taking out a loan against their home. It just doesn’t make any sense to me.

 

[Mach2]

I have lived in my present house for the past 34 years and paid it off after 10 years. I have never refinanced my home nor have I ever seen any reason to have to take out a loan against my home.

Of course I haven’t paid an interest payment on anything in the past 24 years and I have always lived well below my means. My question is why so many people do refinance their home loans simply so they can buy more stuff which they can only afford by taking out a loan against their home. It just doesn’t make any sense to me.

Sometimes it makes financial sense to obtain a lower interest rate.

Most ppl do not want to live "well below their means". I don't understand why you would do that, TBH. You only get one life to live. Now I understand planning for the future, having security in retirement, etc, but to live "well below ones means"? What exactly is the point?

I agree going into a lifetime of debt over frivolous things is foolish, but that's not how i understand the phrase.

 

[Ray R]

It was the best deal for him at the time. He outperformed the deal and he wants to renegotiate. He is making an argument for why he’s worth more and it’s up to the team to make a decision. That’s it. It’s a business and I’m sure like most athletes in his position he would like to retire comfortably. I think that he has a valid argument and it would be mutually beneficial to make a new deal. I like his drive and his desire to be the best player at his position. Either way I hope the team continues to improve and becomes the next dynasty team in the NFL.

The drive to get more money is not what would make him the best player on the field, only the most expensive. - LOL

 

[SCOTTY]

I have lived in my present house for the past 34 years and paid it off after 10 years. I have never refinanced my home nor have I ever seen any reason to have to take out a loan against my home.

Of course I haven’t paid an interest payment on anything in the past 24 years and I have always lived well below my means. My question is why so many people do refinance their home loans simply so they can buy more stuff which they can only afford by taking out a loan against their home. It just doesn’t make any sense to me.

I would just say if you're not borrowing against your own equity in order to reinvest, you are losing money. That money is too cheap to let sit in a primary residential mortgage when you can invest it elsewhere.
I don't advocate living beyond one's means. I'm just saying use your money smart. That definitely includes using personal equity to continue financial growth.

 

[Ray R]

I would just say if you're not borrowing against your own equity in order to reinvest, you are losing money. That money is too cheap to let sit in a primary residential mortgage when you can invest it elsewhere.
I don't advocate living beyond one's means. I'm just saying use your money smart. That definitely includes using personal equity to continue financial growth.

I suspect more people lose money getting cute with financing then get an edge. In my case the market growth paid off when I sold my last two homes.

My first one had tripled in value over the purchase ($22K to $77K) price after 20 years and my second one increased 10% ($102K to $113K) in value after 3 years when I sold it and downsized. My current house has more then doubled it's value ($75K to $158K) due to crazy house values over the last two years. It is a nice 3BR, 2 bath single story in an area with underground utilities and sidewalks (which are often missing in older subdivisions in and around High Point, NC). It will remain our retirement home.

Even after selling my homes at increased value, I was always faced with paying more for my next bigger home because I could afford it. My last move was to a smaller home (the kids were gone and we no longer needed the extra space). That's when I recovered my money from the housing market ($113K to $75K).

I was also fortunate that I always bought when interest rates were low compared to future rates. You can never have too much good luck, only not quite enough - LOL

 

[fin415]

It was the best deal for him at the time. He outperformed the deal and he wants to renegotiate. He is making an argument for why he’s worth more and it’s up to the team to make a decision. That’s it. It’s a business and I’m sure like most athletes in his position he would like to retire comfortably. I think that he has a valid argument and it would be mutually beneficial to make a new deal. I like his drive and his desire to be the best player at his position. Either way I hope the team continues to improve and becomes the next dynasty team in the NFL.

He didn't out perform the deal unless you *ONLY* look at 2020.

You know it, X knows it, and the team knows it and that's the problem. X knows he just had a once in a lifetime season and the team knows, while he's a top CB, he's not likely to be able to keep those numbers coming between proven health concerns and age.

And this nonsense about it being mutually beneficial is just crazy talk without knowing what X has been asking for. If, he was demanding to paid top 3 money with 3 new guaranteed years, it would be a terrible deal for Miami, on top of seting a terrible precedent for anyone on the team that pulls a rabbit out of their jockstrap.

 

[circumstances]

I have lived in my present house for the past 34 years and paid it off after 10 years. I have never refinanced my home nor have I ever seen any reason to have to take out a loan against my home.

Of course I haven’t paid an interest payment on anything in the past 24 years and I have always lived well below my means. My question is why so many people do refinance their home loans simply so they can buy more stuff which they can only afford by taking out a loan against their home. It just doesn’t make any sense to me.

I refinanced about 18 months ago.

Went from a 30 year mortgage at 3.875 percent to a 15 year mortgage at 2.50 percent.

I have never taken out a second mortgage or a home equity line of credit in my life.

 

[Fin Fan in Cali]

Miami Dolphins restructure one, sign Jevon Holland ahead of camp — Phin Phanatic

The Miami Dolphins now have two rookies that need contracts after signing Jevon Holland late last week. They may have needed a restructuring to do it. Lost...

apple.news

Many of the Miami Dolphins fans looked at McKinney's restructure as a sign that the team was going to make a move with Xavien Howard and give him more money but it seems that the savings, estimated to be around $4 million will likely be used to sign the draft picks.

The Dolphins currently are working with about a $5 million cap number. They can easily get more if needed. Several players have large contracts that can be voided and a few others could be restructured if need be.

 

[1972forever]

Sometimes it makes financial sense to obtain a lower interest rate.

Most ppl do not want to live "well below their means". I don't understand why you would do that, TBH. You only get one life to live. Now I understand planning for the future, having security in retirement, etc, but to live "well below ones means"? What exactly is the point?

I agree going into a lifetime of debt over frivolous things is foolish, but that's not how i understand the phrase.

The point was my wife who was a CPA was able to retire when she was 42, right after we paid off our house. I retired 16 years ago at age 54. We have traveled extensively since retiring, except for the last year and a half because of the virus.

We decided before we married 48 years ago that we didn’t want to spend our lives just working until we were too old to enjoy our retirement. So once we graduated from college and found good jobs , we lived on 60% of our net income and invested the rest. We actually spend quite a bit more money today than we did during our working years because of all the traveling we do.

I realize that most people tend to live for today and don’t worry about retirement because for many that is too far in the future to worry about. Fortunately my wife and I had the same financial goals from the beginning and living on 60% of our income never meant we couldn’t afford to spend on the things we felt were important. Including our daughters college education which we paid for without having to take out any college loans.

Because we both made excellent salaries when we were both working, living well below our means never seemed to prevent us from having a great life. I traveled to many Dolphin games over the years and we had 4 season tickets for over 40 years to Dolphins and Hurricane games.

After 16 years retired I have no regrets about living below our means and we are fortunate that because of our many years of investing, we don’t have to worry about outliving our money.

 

[1972forever]

I refinanced about 18 months ago.

Went from a 30 year mortgage at 3.875 percent to a 15 year mortgage at 2.50 percent.

I have never taken out a second mortgage or a home equity line of credit in my life.

I understand why some people would refinance today because interest rates are so low. I haven’t had a mortgage for the last 24 years and we paid off our home in 10 years. Also interest rates were quite a bit higher when we did have a mortgage and it didn’t make sense to refinance when the rates weren’t that great to begin with.

Going from a 30 year loan to a 15 year loan as you did makes perfect sense to me in today’s low interest environment. I was just referring to those individuals who take out a loan against their home so they can spend the money on items that depreciate and they most likely didn’t need in the first place.

To each his own and everyone is entitled to live the way the want to. I just hope those people are putting some money away for their retirement, because if they think they are going to get by on social security only, they are in for a rude awakening.

 

[Mach2]

The point was my wife who was a CPA was able to retire when she was 42, right after we paid off our house. I retired 16 years ago at age 54. We have traveled extensively since retiring, except for the last year and a half because of the virus.

We decided before we married 48 years ago that we didn’t want to spend our lives just working until we were too old to enjoy our retirement. So once we graduated from college and found good jobs , we lived on 60% of our net income and invested the rest. We actually spend quite a bit more money today than we did during our working years because of all the traveling we do.

I realize that most people tend to live for today and don’t worry about retirement because for many that is too far in the future to worry about. Fortunately my wife and I had the same financial goals from the beginning and living on 60% of our income never meant we couldn’t afford to spend on the things we felt were important. Including our daughters college education which we paid for without having to take out any college loans.

Because we both made excellent salaries when we were both working, living well below our means never seemed to prevent us from having a great life. I traveled to many Dolphin games over the years and we had 4 season tickets for over 40 years to Dolphins and Hurricane games.

After 16 years retired I have no regrets about living below our means and we are fortunate that because of our many years of investing, we don’t have to worry about outliving our money.

That sounds like great planning, and living within your means.

My apologies for taking the "well below your means" out of the context in which it was meant.

I thought you were saying you some sort of recluse miser......lol.