Sunday, September 16, 2007
Here's Tiger Woods holding up the FedEx Cup. I guess the FedEx Cup is like the Nextel Cup in NASCAR where the driver with the most victories or points wins it for the season. So for winning the FedEx Cup, Tiger gets $10 million dollars. Not in taxable cash earning though, it goes to his PGA retirement account, which Tiger can claim when he's 60. If everything goes well, or actually even if Tiger's performance sees a drop off, read this article about how much his retirement account could be worth.
So if he sees a modest 5% on just what he won this year and collects in 28 years when he's 60, his 10 million would be worth about 40 million. Gees, I thought I was getting a good deal with my Roth IRA.