For Mickelson, it's not easy being rich
Created on Friday, 25 January 2013 09:43 Last Updated on Friday, 25 January 2013 09:45 Published on Friday, 25 January 2013 09:43 Written by Tim Dahlberg Hits: 647
SMALLER PLANE: Arnold Palmer and Jack Nicklaus were always plane guys, and so is Mickelson. He saved enough to buy a jet of his own that seats 14, allowing him to do things like play in the Northern Trust Open in Los Angeles and still be home in San Diego every night to tuck the kids in bed. But the Gulfstream 5 is a bit pricey at a reported $60 million, and it sucks up the gas. Maybe Mickelson could downsize to a used Cessna instead, or share a jet with Tiger. If all else fails, Southwest Airlines has a ton of flights out of San Diego every day, and his golf bag can fly free.
GIVE IT UP: Golf memberships are expensive, and Mickelson surely has more than one. But he's always seemed like a man of the people, so why not play golf at the local muni? The downside is six-hour rounds and greens with ruts in them as deep as the divots Mickelson takes with his 64-degree wedge. Still, it's a deal at 25 bucks or so a round, plus a few more for a pull cart.
MINOR LEAGUE: Who needs the Padres when you can have the Quakes? Sure, Mickelson's plans to own part of the San Diego Padres fell apart when his personal financial crisis hit, but that doesn't mean he's out of baseball altogether. Less than 100 miles up I-15 from his San Diego home are the Rancho Cucamonga Quakes, a minor league team that would be a perfect fit for Lefty, who once had a pitching tryout of sorts with the Toledo Mud Hens. Mickelson could trim player payroll by taking the mound himself every fifth day.
NO GIVEAWAYS: Mickelson has a habit of finding some cute kid every few holes and handing them a barely used ball. That's not only a waste of a perfectly good ball, but can get expensive. From now on just flash that goofy smile, give the kids a thumbs up, and move on to the next hole.
FIRE SALE: Mickelson has had his house outside of San Diego in Rancho Santa Fe on the market now for a year for $7.1 million. That's probably a fair price for a 9,500 square-foot complex perched on a hillside with a big putting green and swimming pool, but maybe it's time to start doing a little bargaining to free up some extra cash. The good news is interest rates are so low some lucky buyer can get a mortgage on the place for only $31,795 a month.
GET A NEW CPA: Mickelson's claim that he will be paying up to 62 percent of his income in taxes this year bears some scrutiny, even with higher federal and state rates for the wealthy. Consider that former presidential candidate Mitt Romney — whose net worth is estimated at $250 million — paid an average of 20.2 percent of his income the past 20 years in taxes, and you have to wonder about the math. Maybe Mickelson needs to take his money out of Five Guys and buy H&R Block instead.
Then again, maybe Mickelson should just be like Tiger. He's spent most of his career chasing Woods, so why not follow him to Florida, where Woods moved the day he turned pro so he didn't have to pay higher taxes in his native California.
As an added benefit it could finally get Mickelson an invitation to the Tavistock Cup, which features rich players from one elite country club facing off against rich players from another elite country club.
The beauty of that? No state tax on the winnings.
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