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Category: Retirement for Sport

Franchising – Is it Right for the Money Smart Athlete?

Franchising – Is it Right for the Money Smart Athlete?

Just like any other business, franchising requires a serious commitment of both money and time.  Before buying a franchise, athletes need to consider all the pros and cons of owning a franchise in order to decide if the franchising option is the right one for them.  The International Franchise Association website (www.franchise.org) offers an abundance of tools to help aspiring franchisees decide whether franchising is right for them, the criteria through which they can select a particular franchise, and many…

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Social Entrepreneurship and how a Money Smart Athlete can help people through business

Social Entrepreneurship and how a Money Smart Athlete can help people through business

Becoming a successful entrepreneur and building your own business from scratch, during or after the end of your athletic career, is definitely something admirable. But that shouldn’t be your endgame. If you can combine your commercial skills with social issues, you can create positive changes in the society and improve the lives of people around you. This is the notion behind social entrepreneurship, a constantly growing field, which is gaining popularity and attracting lots of talented individuals and funds. Social…

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Internet based businesses as an option for the entrepreneurial Money Smart Athlete

Internet based businesses as an option for the entrepreneurial Money Smart Athlete

When preparing for your future outside of sport and trying to figure out how you will financially support yourself and your family after retirement from sport, you will have a few major decisions to make.  One of the most important decisions you will have to make, concerns transitioning your career to either being employed or starting your own business.  If you feel ready to take the risks associated with becoming an entrepreneur and decide that the world of business is…

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The Athlete’s Second Career – Entrepreneurship or Employment?

The Athlete’s Second Career – Entrepreneurship or Employment?

Is entrepreneurship right for you?  In your post sports career you will have to decide between two main options:  Becoming an employee or an entrepreneur.  There are two main ways of making money; employment and entrepreneurship, working for yourself or working for someone else. You should focus on choosing which of the two options will make you happier and aligns with your dreams and goals.   No one but your self can tell you which one is the best option for…

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Life after Sport: Identifying Your Passions outside of sport

Life after Sport: Identifying Your Passions outside of sport

  While professional athletes perform the job they love earning thousands and millions, when it’s time for them to retire they find it difficult to decide what to do next in terms of employment. They may transition their career to either being employed or to setting up their own business. As an athlete nearing retirement, any way you choose to proceed, you will need first to discover who you are outside of sport; and who you are outside of sport…

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Planning for a Successful After Sports Career

Planning for a Successful After Sports Career

  Retirement is one of the few certainties you will face in your athletic career. Unfortunately, research shows that athletes are often unwilling to plan in advance for their post sport careers. The transition to a post sports career becomes even harder because most athletes don’t have any previous work experience in a full-time job and may have missed out on education due to their sporting commitments. In order to avoid suddenly finding yourself in deep water, you have to…

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The psychology of retiring from sport at a young age

The psychology of retiring from sport at a young age

  Professional athletes are considered to be by nature mentally tougher than other people, due to the hard work and devotion to their sport in their everyday life. Professional athletes have also dedicated their lives to sport and made personal sacrifices to pursue their athletic dreams. But what about when the time to retire comes? Can all these years of hard work be terminated without distressful reactions and psychological effects?  Retirement can be involuntary and voluntary. Involuntary retirement occurs when athletes have no choice in the matter, most likely due to age, or due to illness or injury. On the other hand, voluntary…

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