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Category: Editorials

December 2018 Editorial: Philanthropy in Sports

December 2018 Editorial: Philanthropy in Sports

1 December, 2018 Sports have become one of the most popular global activities, attracting the attention of millions of people.  This growth is producing more and more powerful social icons that have considerable influence in society.  Athletes serve as role models for the youth that follow the sport and admire their heroes. Financial wealth and personal influence can be used towards positive social development and athletes have a long track record of aligning themselves with charitable causes, something that has…

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November 2018 Editorial: Sports Career and Money Management

November 2018 Editorial: Sports Career and Money Management

1 November, 2018 Learning to live and save within your means and knowing how to manage money are some of the most important life skills you will ever master. Adopting good spending habits and sound saving strategies will guide you towards a balanced and complete life. As an athlete, you are considered lucky because you earn a lot more money than average. At the same time though, the money that athletes like yourself earn, come with a huge disadvantage; they…

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October 2018 Editorial: The Money Smart Athlete Entrepreneur

October 2018 Editorial: The Money Smart Athlete Entrepreneur

1 October, 2018   Entrepreneurship is a post sports career option chosen by a number of retired athletes.  Many athletes see entrepreneurship as an exciting challenge with lucrative wealth generating prospects; and it is, if you are someone who is a risk taker, likes to create, loves to work and does not mind being constantly out of their comfort zone.  The truth is that the qualities athletes develop throughout their athletic career are similar to those required when setting up…

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September 2018 Editorial: The Money Smart Athlete’s Retirement from Sport

September 2018 Editorial: The Money Smart Athlete’s Retirement from Sport

1 September, 2018 The passion athletes have for their sport is unparalleled and hard to be replaced. Unfortunately, retirement from sport at a fairly young age is a reality in the lives of most athletes. And, if retirement is voluntary, it means that the athlete is rather prepared for his/her life after sports. In most cases though, retirement from sport is not voluntary and it is accompanied with many emotional and financial challenges. Retirement from sport, especially at a young…

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August 2018 Editorial: The effect of the economic environment on the financial life of the Money Smart Athlete

August 2018 Editorial: The effect of the economic environment on the financial life of the Money Smart Athlete

1 August, 2018 Personal financial planning is affected by several macroeconomic factors.  Therefore when you plan your financial lives, you should take into account conditions in the wider economy and in the markets that make up the economy. As a Money Smart Athlete it is important to develop your own understanding of the economy and the factors shaping it and have an idea of where the economy is headed so that you can plan your finances and your career accordingly. …

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July 2018 Editorial: How the Money Smart Athlete Manages Risk

July 2018 Editorial: How the Money Smart Athlete Manages Risk

1 July, 2018 Athletes are facing different types of risks due to the special nature of their circumstances. It is an absolute necessity for athletes to insure themselves and their assets and thus hedge against these different types of risks. It is important for athletes to identify and manage potential risks so that they can take measures to protect themselves. As a Money Smart Athlete, you can protect yourself and your personal finances in a number of ways whether that…

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June 2018 Editorial: The Money Smart Athlete’s Winning Team of Advisors

June 2018 Editorial: The Money Smart Athlete’s Winning Team of Advisors

1 June, 2018 There are important lessons to be learned from a plethora of athletes who have financially failed.  A common denominator often, is the trust athletes have placed in the wrong professionals.  We have all heard of a number of cases all over the world, where lawyers, accountants, investment advisors, agents, etc have defrauded athletes by advising them to invest in various potentially “high and fast profit” schemes.  In a lot of cases, athletes not only lost the money…

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May 2018 Editorial: The Money Smart Athlete’s Guide to Banking, Credit and Debt

May 2018 Editorial: The Money Smart Athlete’s Guide to Banking, Credit and Debt

1 May, 2018   As a Money Smart Athlete, it is very important that you develop an understanding about how banks work so that you can manage your banking to your best interest.  Properly managed bank accounts can reduce expenses and protect your information.  There are different types of bank accounts which can help you get your finances in order.  We want to guide you through your options so that you have the knowledge to make the right choices. Nowadays,…

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April 2018 Editorial: How the Money Smart Athlete handles Taxes

April 2018 Editorial: How the Money Smart Athlete handles Taxes

1 April 2018   The tax problems of professional athletes are a recurring theme. The mobility, short career span and public exposure of athletes, create unique tax challenges which need to be handled carefully. Unfortunately, most athletes do not have the background, nor are familiar with the complexities inherent to tax systems. This ignorance, coupled with lack of guidance, can sometimes get athletes into trouble! The complications of the tax issues faced by athletes include the filing of multiple tax…

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March 2018 Editorial: How the Money Smart Athlete deals with Financial Setbacks and Failure

March 2018 Editorial: How the Money Smart Athlete deals with Financial Setbacks and Failure

1 March 2018   Setbacks are part of everyday life, and the manner in which they are dealt with contributes greatly to the resulting outcomes of such setbacks. Athletes have more than their fair share in setbacks, especially financial ones, which unfortunately sometimes may even result in complete financial failure, with devastating effects. The financial failure of athletes is a much discussed problem due to its magnitude. This month we are addressing the issue of financial setbacks and failure of…

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