This week, several athletes hung up their athletic shoes. Former San Francisco 49ers running back Matt Breida has retired, bringing to an end a seven-year career that included 98 games played and 2,652 rushing yards. Two-time Olympic finalist and middle-distance runner Laura Weightman has also hung up her competition spikes, but will keep coaching the next generation of athletes. And Croatian high jumper Ivana Vlasic is focusing on community and advocacy.
Retirement is a hard milestone for any athlete to reach, regardless of the sport or how much success they’ve achieved. It’s a period of transition that can leave them feeling vulnerable, lonely and anxious.
The change can also be physically challenging for highly competitive athletes who are accustomed to intense training regimes. They may experience body changes like increased weight gain or lose the motivation to exercise outside their sport. They may also struggle to adapt to a new lifestyle that isn’t centred on their sport, such as balancing work and family life.
Athletes need to be financially prepared for this new chapter in their lives, which means saving and investing. This can help them grow their money over time and provide a steady source of income after retiring from their sporting careers.