Breaking News: Bonita's Jiovanni Mier opts to skip USC, has reportedly agreed to a deal with the Houston Astros that includes a whopping $1.358 Million signing bonus ... Congratulations Jio!

stop talking about his money
they know what there doing,
houston and the miers...
the kid is the best young s.s. ive every seen,
the money is a teste

of whats to come .
so go to work and worry about your own money problems.
if he needs you haters for a agent .post your number.
maybe next time around he will call you
.......not,,,,,,,,not........not.....

For Best of luck Jio:

Here you go, http://dictionary.reference.com/browse/hyperbole

Don the "gross national product" GNP of Zimbabwe in 1991 was 28.1 Billion and in 2007 was 2.21 Billion last year after ten years of being in the high 20 Billions. A "moderately skilled" left handed pitcher makes how much? Maybe 3 Million a year?

I Googled some big money Lotto winners and was shocked that they were broke within 5 years. I guess the question would be how much is big? Try 315 Million, that's 115 Million after taxes in a lump sum. The second question would be how old were the winners seeing as we're discussing 18 and 19 year olds. Google broke lotto winners and see what they have to say or how it went so fast.

Minor leaguers salaries are set by levels approximately $1200 to $2000 a month from the lowest to highest level.

No one is saying Jio should or should not have signed or Jio will or will not make it, clearly the best baseball minds believe he will. The point was and is Jio should be careful and Jio's friends and family should understand that it's Jio's NEST EGG MONEY. Times are hard and going to get much harder went the state hands down their cut backs and County workers start getting pink slips so the temptation to ask Jio for a loan will be great.

As far as Jio's decision being a "no brainer" look at Brian Zito's road to the big leagues.

One year at UC Santa Barbara were he played with distinction, transeferes to LA Pierce College and plays with distinction and then lands at USC and plays with distinction and the becomes the Barry Zito we all know.

Maybe the "no brainer" comment comes from the certainty that Jio will make it, and I hope he does and has a career equal to Zito my point is not his playing ability, his eventual success or anything else...it for Jio to be careful. And I can't see fault in that...especially now that the decision has been made. The caution also goes out to his friends and family, which as we all know, will need a little help along the way.

To the final point that $700,000 is a no brainer, you're right...it buys him a house in La Verne free and clear, a nice truck and about $50,000 spending cas...or am I wrong?

are you people kidding me? take the dough and stay in pro baseball for as long as you can, who would not want 700g's after taxes and commisions?
stupid to be talking about it, their must be alot of rich guys on this blog telling people that you should only not go to college unless you get 2 mil take home. pleeeaase. good for the mier family for not paying attention to these wanta be rich guys. no brainer

The bonus is just that, a one time payment for signing. There are lots of ways to pay/defer the money to best suit the team/payee, but of course with so many big money advisor's here on the blog, I should leave the explanation of that to them.

A player's actual salary as a minor leaguer and then as (presumably) a big leaguer is regulated by the collective bargaining agreement between MLB and the player's union.

That agreement calls for incremental increases in salary for players as they progress through baseball's competitive architecture, minors to bigs, until they reach the holy grail of free agency where a moderately skilled left handed relief pitcher can command a yearly salary roughly equivalent to the gross national product of Zimbabwe

I might be wrong but isn't the 1.385 M his signing bonus which is apart from his salary . Is there a minimum salary that minor league players receive for signing with a team or is that figure negociable ?

Interesting that so many bloggers apparently moonlight as financial geniuses. Given the economic times and baseball's desire over the past few years to limit the amount of signing bonuses, the money is what it is and anyway you slice it nearly $1.4M is a lot of money. With that said, a lot of you are missing the point that you can't play pro ball without signing a pro contract...and playing pro ball is a dream of every little league kid, at least those with talent. This dream comes true for so few kids so how in the world can anyone fault him for pursuing it?

King Stud. You don't BUY your way in to Ivy League schools. 3% to 5% get in on merit. That was the point. Secondly since you have a million dollars I see my math is wrong. I'll leave it at that.

No one is saying he was right or wrong...just to be careful.Friends will take a fair share and tehn family will come asking and finally he is 18 and will have to depend of finaicial advisors who also charge a fee. Again since most of you have that kind of coin I'll let you guys work out the hidden messages that aren't being written. Jio is lucky God bless him with talent now if he can also manage that money he'll be in rare company. Look at lotto winners who have squandered 10 times that much in less than 5 years.

No one is saying anything but be careful and good luck.

King Stud,
Can't you tell word up is your pal . TEH truth be told. Just read it again and you will see.

Buy a money market and take your 3 1/2 %

First off a congrats to Meir on his signing which is a no brainer.

Word Up
Are you any relation to that idiot werd up? Most of your math makes no sense. He actually can buy an Ivy league degree with that money very easily.

Brown University - $33,888 tuition, $46,340 total
Columbia University - $33,664 tuition
Cornell University - $34,781 tuition, $48,200 total
Dartmouth College - $35,178 tuition, $45,483 total
Harvard University - $30,275 tuition, $46,450 - $48,850 total
University of Pennsylvania - $46,580 total
Princeton University - $33,000 tuition, $42,200 total
Yale University - $33,030 tuition, $45,850 total

Average: $33,402 tuition, $46,043 total

These numbers are from two years ago and include room and board, personal expenses, travel costs, etc. These numbers might have gone up some but for a cool 300,000 you will be well on your way. Most Ivy league grads come out making 6 figures on the low end.

Also in regards to buying a house many people think now is a good time to buy but we have not seen the bottom of the market yet. I say wait another 6 to 12 months as foreclosures continue to rise then plunk down some cash on a house. About the only thing you said that makes sense is buying a house as a rental property.
The average sports agent commission is usually around 4 to 5 percent. So his agent gets what 60-65k? The biggest chunk of his money is going to uncle sam. The average tax rate for a single person is around 40 percent correct me if i am wrong. So you add it all up and he should have around 700k left over.
Also he signed for too little too early? Are you kidding me? How many 18 yr olds are number one draft choices and get that kind of money tossed their way? If he progresses thru the minors and makes the big league club there will be much more money there for him in the future. Also as another blogger said Houston most likely will pay for his college along with the signing bonus. It is funny to see people say he should have went to college and turn down the amount of money it takes some people 10 to 20 years to make. Thank god he didn't come on this blog for help determining his future. Good Luck Giavonni!!

From all of us that know you Jio, good luck and hope to see you here soon back in Lancaster. He's a smart kid with a mother who also know what she is doing. God Bless Jio with his decision
Go 'Stros

SHOW ME THE MONEY...first off Ivy League educations aren't bought with 1M dollars , sorry.

But to your second point...he signed too early and for too little.

1.38 minus taxes, commissions and family is about 400k before he gets to himself.

USC grads avergae 90K a year to start. ... and goe sup from there for life.

If my son had teh same choice I would have told him this..."After all the perks, favors and get goods...do you still have 1 million in the bank?" If not...it's not enough.

1M pays 2% at best right now. Buy a house at discount 09 prices and let someone else pay the mortage...that way your money grows, people won't borrow when your money is tied up and you won't spend it all.

Nothing more pathetic than a former millionaire.

Here's one thing everyone is forgetting....

He'll still most likely have his College education paid for by the Astros.

That is usually a key point in the players contract.

Good Luck Jio!!!

Most of us would love to have a 1.38 Mil problem.. LOL

He could buy Multi Ivy school educations with the 1 Mil+

For a first rounder, I would have asked for more! Green may get 5Mil +

Don Financial Advisors aren't worth a plumb nickel. Take it from some one who knows. Everey Financial Advisor out there is just looking to survive. The markets are in turmoil and we are yet to deal with the crooked crooked guys and pay for their mistakes and greed. Madoff is a crooked clean guy and he took 100's of Billions of dollars from peopel all over teh world and was heralded as one of the Tatans of Wall Street. What can anyone say when you've lost everything. Don most of Madofff prey were the most gifted and most talented people in the country. Doctors, Lwayers, CEOs ect ect ect....all their money gone.

The best advice I would give to Jio is this, When you become a millionaire you discover two things.

1) You realize who you allowed to get close to you and whether those decisions were good or bad.
2) You realize money doesn't change you...it changes everyone around you...and 99% of teh time, mnot for the better.

This money that Jio "earned" is his and will have to last him a lifetime. The second best advice I would give is not to Jio but to Jio's freinds and family.

The money you'll ask fro, try and borrow or want to share with Jio is FINITE...it will nEVER grow if it's in someone else's hand. To all of Jio's friends and familiy...leave Jio's money alone. When it's offered..."say no!"...when you fell the need to ask for a favor or accept one..."SAY THANKS BUT NO THANKS!"

Jio find a nice house...there will be tons of great deals out there in the next 12 months...and buy your NEST with your NEST EGG...and rent it out....and not to Family. 10 years from now or 15 years from now or 20 years from now...IT WILL BECOME A SECOND NEST EGG for you and your "new" family. When your playing days are over...and they will be over sooner or later.

Best of luck kid....I hope you made good friends along the way.

Don-
well said, agree 100 percent with all you said.

Jio is doing the right thing by signing a professional baseball contract as a first round pick. The USC baseball program is below average at best and most of the baseball players spend so much time playing a 56 game schedule they are not on schedule to graduate. He can always go back and get an education.

It's semi-hilarious to see folks on the blog giving financial advice to a newly minted millionaire. You guys are too much.

FWIW, I'm sure Jio has secured the advice of several professional money managers by now. He's a solid kid and I'd be surprised if stability will be an issue for him. As for those who think taking $1.38 mil and heading to the minors is a poor life decision, may I remind you that one can buy a very nice education from USC or pretty much anywhere else with a million bucks.

Those using Chuck Tiffany's name as an example might want to consider that his bonus allowed him to start life from a point way ahead of most other 19 year olds. Still in the minors? Check. Still pursuing his life's dream? Check. Still have a terrific nest egg in the bank? Check.

Keep following those dreams guys.

Fred
Hopefully this kid doesn't turn into a Daryl Strawberry. Should have taken the USC education.After taxes and his agents share he'll be lucky to have some loose change in his pocket.

Congratulations & good luck to the kid, I assume
USC was offering a full ride so that must have been a difficult decision. Do you take the money that is being waved in your face or the scholarship to a school that could set your buisness or sports career up for life. No guarantee's either way, 1.358 million can get him a good head start in life, but at 18 years of age he should take Football Bobs advice and get a real good Financial advisor. Either way its a tough decision but at the same time its a wonderful position to be in. Good luck Jiovanni!

should have taken the school. we all remember tiffany from co. signed for i think 1 million,still in the minors. good luck kid i hoestly hope it all works out for him.

When you're talking this kind of coin, it was easy to figure..

Meir will have to produce at some point, but will be around for quite a while with that kind of money invested in him.

Good Luck, things like this don't come around to often. Remember, its how the Atros project him to turn out!

Proven only at the H.S. level and he's getting that kind of money. He may not even make it to the big league level. Only in America!

Wow, congratulations! Hire a Certified Financial Adviser and invest wisely.

Congratulations!