Baseball has been signing kids put of high school and handing out big signing bonuses since about 1950.
$50k, $100k and adjusted for inflation much more than this.
"So what happened to the money?" gets asked alot of the kid or friends of the kid 5 to 10 years later.
And the common answer is: taxman 50%, car (self/parent) 25%, "wasted" (e.g. ex-girlfriend) 25%. (If the kid's family has money the car purchase is out)
College kid inheriting some money? Probably the same but no tax hit, so savings is a possibility.
