Athletes spend a lot of time preparing for their sport. They work with experts across multiple disciplines, including nutrition, recovery and sports-specific training. They also invest in their financial futures with a trusted wealth management partner. Whether they are forced into retirement, like NFL legend Tom Brady, or choose to leave their cleats at the peak of their careers, it’s important that athletes are prepared for their next steps.
A key aspect of athlete retirement is finding a sense of self outside of their sport. This is easier said than done, especially for elite and professional athletes who are surrounded by their peers and community. For this reason, it can be helpful for retired athletes to stay connected with their former teammates. This could be through podcasts, social media, or even by founding a new business venture with one of their former teammates.
Keeping this connection helps the athlete find a new identity and keep a sense of normalcy. It’s a process that should not be rushed and requires careful planning. Similarly to a training schedule, it’s vital that athletes make sure they are financially prepared for their retirement. A wealth management expert can help with this by setting up a portfolio of passive income, such as investments or a high-yield savings account. This can give them a steady stream of money without having to work, helping them achieve their goals and enjoy their retirement. For more information, speak to a member of the team at Holborn Assets.