Planning for the day after your last match

Retirement from sport rarely arrives on a date of your choosing. For many athletes it comes earlier than expected, and it brings a sudden change in income, routine and identity all at once.

A financial event, not just a personal one

The end of a playing career often means a sharp drop in income at the same time as spending habits are at their highest. Planning for that moment while you are still playing gives you choices when it comes.

Know your number

Work out roughly what you will need each year to live comfortably once you stop playing, and how much of that your savings and investments can provide. The gap between the two is what your next career, or your playing years, need to fill.

Start the next chapter early

Qualifications, coaching badges, business interests or media work can all be started while you are still playing. Building them early reduces the pressure to earn immediately when your career ends.

Look after the long term

Pensions and long-term investments can feel distant at 25, but they are designed for exactly this situation: money set aside during your highest-earning years to support you for decades afterwards.

The best time to plan for the end of a career is at the beginning of it. The second-best time is now.

This article is general information only and is not financial, tax or legal advice. It does not take account of your personal circumstances. Speak to a suitably qualified and authorised professional before making financial decisions.

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