Life as a retired athlete can be though. You go from being in the middle of the circus, with all eyes on you, to "nothing". In the beginning the athlete, especially the male ones, has a lot of money. However, according to Sport Illustrated (March 23. 2009), 78% of all former players in the NFL have gone bankrupt or are under financial stress by the time they have been retired for two years. How is that possible? Are not former professional athletes able to settle down with a family, get a job and live a normal life?
In fact many of the players has a great fortune when they quit the sport - we are talking about million dollar contracts! How are they able to go bankrupt when they have more money than most of America? The answer is pretty easy: lack of financial and economical knowledge and skills. They are used to live on "the top of the world", with the fanciest cloths, cars and houses. House maids, servants and vexations - there are a lot of factors that makes the fortune "fly away fast". Without a budget and economic control or understanding, going bankrupt is easier than you think.
A more important factor is the loss of identity. Sport creates identity, so what are you when you quit the sport? You lose the structure in your every day life: No one is telling you what to do or when to do it anymore. Moreover you might do not have a goal or destination anymore. For athletes who has worked hard and focused toward a main goal for several years this can be a big issue.
It gets even more critical when the athlete went pro too early. If they did not finish a degree in college, they are literally standing on bear ground without an education or job. How do you then move on?
I however, believe that if an athlete is able to require new skills, he or she can use the good values and attitudes s/he got from sport to be successful on other platforms. They are structural, motivated, hardworking, focused and determined - in other words: they have all the qualities that is required to be successful in the job life.
A more important factor is the loss of identity. Sport creates identity, so what are you when you quit the sport? You lose the structure in your every day life: No one is telling you what to do or when to do it anymore. Moreover you might do not have a goal or destination anymore. For athletes who has worked hard and focused toward a main goal for several years this can be a big issue.
It gets even more critical when the athlete went pro too early. If they did not finish a degree in college, they are literally standing on bear ground without an education or job. How do you then move on?
I however, believe that if an athlete is able to require new skills, he or she can use the good values and attitudes s/he got from sport to be successful on other platforms. They are structural, motivated, hardworking, focused and determined - in other words: they have all the qualities that is required to be successful in the job life.
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