Things You Don't Think About When Receiving $1,000,000+ Signing Bonus

[@BradColemanisHere]

Really good advice. For those wanting a shorter cut, skip to 6:30 and you'll get it all. I wish there was a former player who did a lesson for every drafted/signed professional player in every sport.

[@jake93436]

can you do a video on spring training, who dictates who plays AAA, AA,A and MLB level spring training ?? Like Bryson Stott was an A player and played MLB level spring training but who makes the choose for A level players to play in mlb spring training ??

[@christopheroliver2465]

In many cases, MLB teams will have a few "Just in Case" players (JICs) with the team for games, especially if pitchers were necessary. In other cases, teams will take along some minor league players who they want to take a look at in a major league environment.

[@grantbrinton1024]

CMON MATT! YOU GOTTA START EARNING SOME OF THAT MONEY!

[@christopheroliver2465]

Matt should have that stenciled on his wall, as a background for his videos.

[@AntonelliBaseball]

Still trying!!!

[@christopheroliver2465]

@@AntonelliBaseball And you are! Thanks for these great videos!

[@iceboxchamberlain1]

10:35 Matt turned Super Mario lmao "EVERY BADDY"

[@williamford9564]

1:20: Taxes. It can depend on what state you live in. The current federal tax on $1 million would be about $335,000 and that is regardless of where you live. Social security and Medicare taxes take another 7 1/2%. In high tax states like New York and California, the state is going to take 10% or more which brings the total take to about 50%. Some cities, like New York City, also have a LOCAL income tax. Most states are in the neighborhood of 5%, but in states with NO INCOME TAX such as Florida and Texas, it is zero!

[@longd]

What determines the state that taxes are paid in or not? Is it the state you live in when you’re drafted is it the state that the team (organization) is in?

[@williamford9564]

@@longd The state you live in. You file a federal tax return and a state tax return.

[@longd]

Awesome awesome video! Very eye-opening….. passing it on to my grandson who was in sophomore year at college right now.

[@captnobvious31]

I consider this wisdom beyond the sport. This is knowledge for today and the future to come. Thanks for sharing.

[@tigerstripe56]

Street smart… and honest. Common sense kid and very logical. Your honesty is very candid. Well done.

[@AntonelliBaseball]

Thanks!!!

[@commiehunter733]

Great insight. I've experienced this on a smaller scale... Property taxes was a shock to me😂

[@paulgill7265]

I do a fantasy life for baseball on paper i mostly go to college and the cape league for the chatham a's to play baseball on paper and get drafted in the upper 1st round and my signing bonuses are mostly in upper $1.842.369 range and after taxes right of the top i keep about $974.453 for living expenses, spring training, offseason, and baseball bats, bats are the biggest expense

[@DamonMurphy1]

Good video and great subject! I wish that every college player getting NIL money would watch this! Compounding interest is the greatest financial weapon against having to work until you drop. That $60K truck right now is almost a half-million in 25 years at average S&P market returns.

[@risboturbide9396]

Great video and advice. Thank you for your baseball/life knowledge.

[@chadwickbay]

Great advice for anyone. Awesome video and information. Take Note young people ! This is life guidance you need to heed and learn.

[@metaljustice4518]

Excellent advice!! It has to last a lifetime!!

[@someoneunknown3391]

can you do videos on what its like to be a college coach? also a video on how you started Antonelli Baseball and got it started.

[@AntonelliBaseball]

Sure! I have a few on starting Antonelli Baseball. But will do one on coaching in college for sure

[@RobbieBEISBOL]

Great video and a great topic. The school I went to, Madeira high school here in Cincinnati (Andrew Benintendi went here too), they taught us finances and offered a business class. We were very lucky to have access to this info early, even without being a professional athlete. Kudos to you Matt on navigating all of your stuff very well. Comfortable life with a healthy, happy family. The dream. Thanks for the new vid Matt!

[@christopheroliver2465]

As a Business Teacher, I strongly support this comment. 😀

[@nkystevep7007]

Joe Burrow thankfully has his bachelors degree in Finance from Ohio State and his Masters from LSU so hopefully he will know what to do with his money.

[@RobbieBEISBOL]

@@nkystevep7007 you bet he does! You see my boys yesterday!? Bengals are fun to watch.

[@minorleagueroadtrip6224]

Wisdom! Thanks for some great videos.

[@AntonelliBaseball]

Thanks!!!

[@fredsax7793]

I'm interested to hear your current ideas on investing. How would you invest that money knowing what you know now? Where would you put it? What are the most important metrics / statistics to look at when choosing an investment? More importantly, how would you compare financial metrics to in baseball statistics? Is the 12 month return comparable to a pitcher's E.R.A. ? Do you look at the average 10 year average return (on an investment); Is that similar to a player's four year average OPS? Is Wins above replacement similar to intrinsic value? There's so many similarities between baseball and investing analysis. It would be interesting to bring them together in an explanation of both fields.

[@paramounttechnicalconsulti5219]

Awesome video, should be a college course. THe stuff you are taling about; as a young kid, is the same as most people think about 40 years later when they retire.. "Kid's" perspective - "$1million, I'm rich", older person's worry "I have $1 million in my retirement account; can this last 30 years (optimistic) or will I be on the street eating Fancy Fest?" Great job.

[@1aspirefit]

Great advice for all the youngsters who only think about today.

[@sgtmarkfusetti6141]

Hey Matt great video. I hope this helps some young athletes. It’s sad to read stories of former players who become completely broke. On a personal note I hope all is well with you brother. You looked a little stressed in your latest video. I hope all is well with your health. Keep up the great work

[@kenmylrea9587]

Matt. Thanks for sharing this important financial lesson learned. It is challenging to balance spending like you might die tomorrow and saving / investing like you might live forever. This is even more challenging for professional athletes who typically have short careers compared with more traditional careers. In Canada, we see a lot of very highly paid hockey players facing financial difficulties following long, successful and lucrative playing careers. Finding good financial advice also can be challenging. This is because some financial advisers have more of a financial / career incentive in putting clients into assets that are in the best interest of their firms / themselves than their client's best interests. All this points to the need for greatly enhanced financial literacy ... in each level of schooling (not just college or university). At worst, start early by teaching your kids about money, saving money and investing it. This is my legacy to my family ... providing them with my Dad's Money, Saving and Investing Lessons Learned in order to provide them with the necessary financial fundamentals to get them through their lives. Keep up the wonderful and informative channel ... both with your insights / explanations about interesting plays / strategies as well as your insights about your journey to playing baseball at the game's highest level!

[@PrivatePeterson]

Did you ever have an at bat against Noah Lowry on the giants? He was just my coach for fantasy camp. Cool dude.

[@eaistrash4032]

Can you make a video explaining how the contracts work? Like if you are in minor leagues, can you play real well for the season, then resign for a few million right away? Or are rookie contracts really long?

[@scottlink183]

Great video Matt! Sounds a little like you wish you knew these things back then. Hopefully your agent advised you to invest a bit of your signing bounds and your parents reinforced the agents advice.

[@nowellclay1283]

Thanks.. how to they split it for taxes wise. Did you get yours upfront split into 2 or 1 years.

[@jackstevens585]

For the professional athletes, personal finances are equally as important as hitting a curveball!

[@joemchavez]

Good advice Matt. A million goes quick. The Wiseman figures out how to maintain that million and build off of it.

[@BoleDaPole]

Read your wiki page for fun and saw this; "Antonelli signed a minor league contract with the Cleveland Indians in January 2013. He played through spring training, was sent down to Triple-A with the cover story of a fake injury due to Cleveland needing roster spots. After appearing in 3 games with Triple-A Columbus, the Indians informed Antonelli they were going to release him from the team." Whats up with this " fake injury " ??

[@AntonelliBaseball]

Haha I have a bunch of videos on it. Type in phantom DL and see if my video comes up

[@clarkkent8685]

So when you get drafted, you get the signing bonus right then? I was always told you get a portion of it, then the rest when you make the league

[@patrickgoodman4576]

Holy smoke Matt are you related to the Antonelli’s that make cheese? I’ve seen their commercial with the chase credit card I think

[@michaeldiller9606]

Matt could you please discuss Agents. Their fees, and do they help you plan for your future.

[@Briansgate]

Keep forgetting you played at Wake Forest. I'm from NC, UNCG Go Spartans!!

[@arottie4097]

Be honest Mr Antonelli. You have invested in COFFEE! LOT OF COFFEE!! Ha! As always thanx for sharing your insight with us!

[@michaelklein95]

The MLB needs to show this video to all rookies!

[@cameronroberts5461]

Matt, I can relate so much to being a frugal little child. Also giving the money back is exactly what I would do! You couldn't convince little me to buy anything! "I just didn't find any I liked" hahaha

[@jefforta4989]

Like my parents always say." Son if you don't know what to do with that money just hold onto it. " I guess that's true for both small and LARGE amounts.

[@imnirvana9982]

Did you have to pay some of that money to an agent? Or lawyers to go over the contract?

[@Briansgate]

Question: When you signed, did you not have an agent? Did they not help in this area? I know their main job is to get you signed, but, don't they help you in this very area?

[@ogescobar2]

Great question

[@markogrujicic6994]

nice video

[@AntonelliBaseball]

Thanks!

[@samkawer]

That’s why they need to teach financial education in schools

[@christopheroliver2465]

We do, not enough students bother to take it.

[@soonermagic24]

@@christopheroliver2465 enough with the algebra bullshit.. family finances, or managing needs and wants in life.. this should be a class everyone should have to take for at least 2 years

[@jswaby]

This would have been a great opportunity to discuss how black athletes don’t consider baseball a viable option. Once they get drafted, they want to start making money now. Football and basketball offer those opportunities. There are so many football players that were great baseball players. Kyler Murray is the perfect example. First round pick to Oakland, but then got drafted first overall in the NFL said bye to baseball. Kap, Russell Wilson, Jameis Winston, all great examples.

[@waywardson1663]

Right! A lot of young pro athletes & entertainers think the big money will last forever, but when it's done, it's done! A lot of them end up broke (and divorced) shortly after they retire, which is why you see a lot of real legends selling autographed pictures for $20 at sports card and memorabilia shows.

[@christopheroliver2465]

How about this (in defending order): 4. Buy a solid, but not a high-priced car. If a player wanted something sporty, just buy a GT version of a regular vehicle. Bought a Grand Am GT years ago. It looked great, wasn't stupid expensive, and was dependable. 3. Lock a good deal of the funds in conservative investments such as Annuities, solid Mutual Funds, and Jumbo CDs. 2. Keep some liquid to get through those Minor League seasons (unless you love peanut butter and jelly and want 4 roomates). 1. Get something nice and practical for Mom and Dad. Things for their home such as siding, roof, furniture, or lawn/snow services. Does this sound good, Anto?

[@AntonelliBaseball]

All better options than buying a Jaguar! lol

[@christopheroliver2465]

@@AntonelliBaseball Anto, we all would have done the same thing!

[@macdisciple]

Every team should provide financial counseling from independent and vetted pool of advisors. Ronny Mauricio (Mets) was forced to play winter ball because people scammed money from him. And then he tore his ACL in the winter league.

[@SocratesRR90]

What did you invest in?

[@MH-Tesla]

My thoughts: can you get it spread out over 10 years? (Saves a ton on taxes) Can it come from Florida so no state tax? Or, maybe pay it to a foundation that invests it and pays you over 10 years? Again, to save on taxes.

[@williamford9564]

To my knowledge, no sports teams give deferred bonuses to newly signed players with no experience. Players want the money NOW and it would put the team at a competitive disadvantage. Deferrals are only for elite established stars as part of long term contracts. My understanding is state taxes are owed to the state in which you live in. It is the same as if you work for a major corporation that is headquartered in another location. The tax on your paycheck is based on where you live, not the state where the company is headquartered. And yes, it is a big advantage if you live in Texas, Florida or the other couple of states with no income taxes. Woe to you if you live in a big tax state like California or New York. The foundation situation you ,mentioned would be be too obvious a tax avoidance scheme and the IRS would be all over this like a cheap suit and the taxes and penalties would NOT be cheap. Foundation are for people who already HAVE money and wish to give some of it away and they are not allowed to take money back.

[@MH-Tesla]

@@williamford9564 There must be a way to work this out. I think teams are more than willing to just pay up right now. But if the negotiations were dealt with correctly, a lot of tax savings could happen. But how many high school kids and parents know that? And that's who gets the biggest signing bonus... high school kids. The longer you wait to sign the lower the bonus.

[@geoffs23]

Given you had an agent, didn't your agent ensure you had a Tax Accountant, Lawyer as well as a Financial Advisor?

[@AntonelliBaseball]

Yes they offer basically everything

[@geoffs23]

@@AntonelliBaseball so really it's about accepting their coaching/expertise; unless they are bad at it

[@wvnovello]

I would think one of the hardest things for am 18-21 year old to understand is that more likely than not, that $1.5M bonus is probably all they will make for the rest of their professional career.

[@AntonelliBaseball]

True!!

[@dinorosga9147]

U need yo a video about investing or how you invested

[@mikes7446]

is your keyboard broken?

[@MrFlippin24]

One thing i remember Dennis Rodman say , he would play basketball for free , that's the fun part . He was paid to talk to media, harassment , things like that after games.

[@cwalenta656]

First step. Become a resident of FL....then sign.

[@Akeoni]

Typing this before watching the full video. UNCLE. SAM.

[@Jimmy-Mc]

$2.3 million, what im guessing the first rounder got after taxes, invested today would give you a comfortable middle class life if you invest it right. $1 million would let you retire very early but you would still have to work for a while. Also if any new players are reading this, Jaguars aren't worth the money. You're better off with Audi or Lexus.

[@DMalltheway]

You can have 300k and live comfortably for 30 years in Thailand

[@NovaScotiaNewfie]

I think some pro sports teach financial responsibility as some athletes would soend and go broke. (NFL I think does tbis for one). It's good if you can afford a financial advisor as a pro athlete abd even learn from those aroubd you who have invested etc. Many retuted athletes brcome successful business prople. Shaq, Magic, MJ, Lebron and I'm sure many that we don't gear about that can at least make money to live comfortably post athletic career.

[@scottgh8285]

Why not a pickup and a trailer for all the moving and sock the rest back. Live on some of it to get you through the minors.

[@scottgh8285]

Put 100,000 in a S&P 500 index fund.

[@uprebel5150]

What is the MLB league salary minimum?

[@tcbobb1613]

in 2021 it was $570,500

[@marchebert9813]

A million dollars is $50,000 for 20 years. Not that much.

[@Dylan-zn5ff]

Anto

[@matvail2002]

You give common-sense advice Matt. The signing bonus is basically your salary for a few years considering how pro baseball has this farm system where you make really bad salaries even if you are a gifted player *at least* for 3-4 seasons or more. It's different from the other sports where if you are a gifted player drafted really high you have a real shot at making the big team really quickly. Baseball also has this system where also if you make the big leagues - you won't make a huge salary until a few years down the road - even if you won't starve by doing the league minimum. Sadly, as much as some professional athletes are very smart in investing their money - others are bad. Another issue is that some athletes (in part because some don't have the time to look at their stuff closely) get scammed or screwed by dishonest people or managers. It's not a rare occurrence. As much as the Jaguar was a meh move and you talked about it earlier a few times (I am sure the BMW for your mom was a smart move, however), buying a house near Boston was a super smart move you did to invest your money. Regarding taxes. In the US, a lot of pro athletes try to minimize the taxes they are paying. Some live or play for a team located in a state with no income tax or some pro athletes asks for a bigger salary to compensate for the higher taxes.

[@billcullen8586]

When your 20-21 years old and you get a million dollar signing bonus the first thing you should invest in is “having a good flippin time man”.

[@AntonelliBaseball]

Haha! Some have a little too good of a time

[@baseballbou4643]

Hey Matt what if you are to nervous to pee in front of the guy for drug tests in baseball

[@yesssssirrrrrrr2111]

This is a great question that need an answered

[@BoleDaPole]

Then you wait and drink water. Though I don't think the UA's are supervised lmao

[@skunkycatog]

How do agents work? I feel like agents are a scam.

[@greenmonster9913]

He's done videos on this

[@joshzysman3451]

You should definitely speak to the draft class every year charge them a couple hundred to hear your advice

[@AntonelliBaseball]

I believe teams are doing more of this now

[@IMJAFO2]

I heard that Rob Gronkowski lives off of his endoresments and invest his regular salary

[@AntonelliBaseball]

Yup he does

[@boxcarent.3147]

Sign for a million and stay in your moms house for a few more years.

[@emeryhvac1023]

Matt .... here's 10K and go get anything you want or "Stuff" ......hours later.....Mom, Dad...here (10K) .....there isn't anything I wanted....... Lesson learned here for me...... Matt I wish you were my son lol

[@mikes7446]

i wouldn't be stupid enough to buy a home with 15 bedrooms / 17 bathrooms i don't need.

[@Kitsune16-r4h]

I'd be living in an apartment. I'd live cheap as hell to enjoy the money after I retire

[@tcbobb1613]

remember that some pro athletes grew up super poor where their families lived in super small apartments. where no family members had any personal space at all. So it makes sense to them to buy 10 bedrooms up house.

[@jdredwine7224]

Seeing how much Baseball cards are worth I would invest like $100,000 in Baseball cards. May have a handful worth millions in there. Maybe a few handfuls more worth six figures and a few hundred worth thousands.

[@sebastianrothman2871]

i would invest that money instantly

[@tranquilo6897]

First!

[@isaacclark9825]

Those decisions do not have to be made immediately. You get some time to make them, and it is not that hard to find a professional (i.e. non-entourage) person who can advise you. Also, unlike many minor leaguers, you had a little more life experience and education. Imagine what someone from a poor family might go through in that same position.

[@The_Official_Chris_Overholt]

I wouldn’t know what to do with a million dollars now! And I’m 45 years old

[@edtignor4235]

Pretty cool to hear about some of the things you thought and did while you were going thru what every adult male would have given his left n.... knee for.

[@vladimpala1859]

laura must be great a picking stocks. $8/hr washing dishes doesn't exactly scream long term investment, but she got it right.

[@HugoGonzalez-ws3xq]

Can you tell us what you did with your money? When you first signed, during your career, and after. Also, what you do for savings and investments

[@martinc.720]

"Can you tell us what you did with your money? When you first signed" - Did you watch a different version than the rest of us?

[@johnnycatR58]

Great video Matt. Everyone should spend less than they make and invest

[@AntonelliBaseball]

For sure! Thanks!!

[@jamesschroeder5559]

Your fit is sick!

[@Little_Muskrat13]

Matt, what must have really irritated you was when you had to count each dollar. Such a pain....PS - You could also have had Domino's or KFC delivered everyday for at least a decade. Just saying....

[@AntonelliBaseball]

Nope wasn’t irritated

[@my2l]

index funds

[@jaysonwashington8787]

The moment people realize what they voted for when 50% of your 1,000,000 goes to taxes. Then realize you are still taxed on purchases, property, etc

[@pete7504]

Uncle Sam is going to get their half first

[@NateBee]

They should let athletes average their income over like 3 years to calculate their effective tax rate. That way they are paying more like 30 percent on a million bucks instead of 50.

[@cameronroberts5461]

Exactly, for NFL I would suggest that it be over something like 10 years. The NFL is debilitating and likely someone coming out of it can't immediately transition into any standard job.

[@fordwindsor351]

Think about the men and women that serve their country and are paid around 24k a year while their lives can be on the line and here we have people playing a damn game making millions.

[@jakew9739]

30 Percent taxes ! Not 50 that sounds way too much

[@georgemartin5980]

When you say you make "nothing" in the minor leagues, some people are going to take you seriously. I know you have videos about how little you get paid, and unless you have a decent bonus to fill in the gap, you're stuck working a job, trying to train, and play.

[@waynechen8524]

Why can’t American players sign at 16 like the Latin players ?

[@michaelnewton5873]

So 4 years in the minors at less than Minimum then 3 at 500K ish if lucky in year 4 you get raise and if really good a Million after year 6. YUou want to be a pro play Basketball or Football .

[@bobbyhamblen2338]

Lesson #1....Don't ever buy a Jag.

[@nocturnalmayhem0]

if you would of bought a few thousand in bitcoin back in 09 or 2010 youd be a billionaire if ya held it lol i regret sellin the bitcoin i got for under 20 cent each but you live and learn thats all that matters in the end

[@Stooch]

Poor fella bought the two most unreliable car brands

[@BLAPYOU]

TALK TO YOUR PARENTS!!

[@JanLarson]

How many young players run right out and buy an expensive car? My guess is that most of them come to the same conclusion that you did, Matt. “Stupid!”

[@AntonelliBaseball]

Yup most do!

[@Stooch]

stocks are not investments. It’s gambling and you should only use expendable income on it

[@robbie8282]

Spoken like someone who is financially illiterate. Gambling? Seriously? I'll give you risky but not if you invest prudently and for the long term. You know what is more risky though? Leaving it in a savings account that gives you < 0.1%, meanwhile inflation is at least 2% every year so you effectively lose money.

[@willshad]

Yes expendable income. And don't EVER keep tabs on it. I once invested about $20,000 into mutual funds, and in the first month the value went down by over $1000. I quickly sold it, thinking it would go down to zero within a few more months. It would be worth about $50,000 today.

[@JimBarrLive]

Lol - you didn't own a wallet?!

[@AntonelliBaseball]

I had no money who needs a wallet lol

[@nicholasbean7637]

I make decent money and it would take me 15 years to make a million bucks, if they gave it to me tax free. It really rubs me the wrong way to hear the woes of a poor guy who makes more than most people make in a decade in one swoop.

[@AntonelliBaseball]

It would now take me 15 years to make that as well!