The end of an athlete’s career is a huge milestone, but the transition from world-class superstar to ordinary citizen is often tough. Unlike most of us, who retire in our 60s or 70s, many athletes end their careers much earlier — and can struggle to adjust to a new life of minimum wages, limited social support and financial hardship.
Luckily, there are many ways for athletes to make the most of retirement, including building businesses, investing in income-producing assets and even launching second careers in real estate, fashion or broadcasting. But for every George Foreman or Venus Williams, there are dozens of former athletes who have gone broke or failed in their post-athletic pursuits.
During the past week, several high-profile athletes have retired. Super Bowl champion Nick Foles hung up his jersey, USWNT pioneer Alex Morgan played her last match with the San Diego Wave and track star Dafne Schippers called it quits after three Olympics and multiple medals. All of these moves have brought a flood of athlete retirement news to the headlines. But while it may seem like an abrupt ending, these retirements were often long in the making — and for some, retirement was forced by the pandemic.
About the Author
