We have recently started working with a number of professional sports people, helping them to maximise their current earnings and successfully plan for the future. This post outlines exactly how we are helping them. If you find yourself in a similar situation, or need advice, please get in touch.

Source: flickr Tim Goodill

Whether you favour the round or oval ball, a pair of whites or indeed a whip, a professional sports career is an exciting one where dreams can come true and fortunes made. You may already be on your way to being the next Wayne, Jonny, Freddie or Frankie, but more realistically you are likely to enjoy a 10-15 year career in or around the top flight of your sport. 

Either route will realise some financial truths;

1)      You will be earning significant sums of money, in excess of your daily living needs

2)      Your extreme earning potential will last for a relatively short period of time

3)      Unless you develop other skills, you will be retired for 50 years!

In simple terms, how much should you save now to secure your financial future once you stop playing? Do you have a financial plan? Many of your predecessors did not, and frittered away money in the good days and/or over-estimated their ability to earn decent money in their second career.

The term “break a leg” may be a good luck message for aspiring actors, but for professional sportsmen it can be a nightmare scenario. Forget even being a journeyman professional, a bad injury can easily end your career prematurely – next week, next year, in 5 years’ time? Of course no one wants to contemplate such a scenario, but it is our job to help you plan for every eventuality.

Let’s be frank; it need not be a career threatening injury. You may be invincible at the moment but a loss of form, a new manager, an influx of foreign talent, or just the next generation of whiz kids, can mean you no longer making the 1^st team or not getting the top rides. Such a scenario happens all the time unfortunately, and will also have an adverse impact on your earning potential.

Good quality financial advice is not about ‘selling’ you high risk investments for big commissions. We believe you take enough risk in your day job. We wish to develop long term relationships to help you secure your financial future – imagine the peace of mind knowing that you have a plan that will provide sufficient income for you and your family for life.

Please contact us for a ‘no cost, no obligation’ initial meeting.