Athletes have short professional careers, so early retirement planning is crucial. Preparing athletes for two retirements is important: one at the end of their sports career and another at age 60 or older. Planning should facilitate a financial transition to a second career, such as in broadcasting, coaching, or entrepreneurship.

 

We'll set retirement goals, evaluate additional sources of income, and create a personalized plan. This can include pensions, individual retirement accounts (IRAs), and other investment vehicles. In addition, it is necessary to mitigate risks with life, disability and liability insurance.

 

Financial education is essential for athletes to make informed decisions in the absence of a trusted advisor. Generating consistent income through stocks, bonds, annuities, and property rentals is important. Periodic reviews and staying up to date on legal changes and investment opportunities are crucial.