Another July 1st, Another Million Dollars For Bobby Bonilla

bobbybonilla

Thought you had a good day, today? Probably not as good as Bobby Bonilla.

On January 3rd, 2000, the New York Mets bought out the final year of Bobby Bonilla’s $5.9 million salary with the team.

The terms of the agreement? Every July 1st for 25 years (from 2011 through 2036), the New York Mets organization has to pay Bobby Bonilla $1,193,248.20 (and as an aside, this money counts towards the team’s payroll).

For Bobby Bonilla, that was a brilliant execution of delayed gratification principles.

Think about that. In 2036, Bobby Bonilla will be collecting $1.19 million for a decision he made in 2000. That, my friends, is how you structure an intelligent financial life. It is all about making decisions today in such a way that you take good care of your future self that comes along five, ten, fifteen years from now.

Although most of … Read the rest of this article!