Athletes are encouraged to plan for their future early on. The short duration of sport careers in combination with the high earnings, deems early and efficient financial planning a necessity for athletes. A huge part of that is saving and then investing those savings in places that would hopefully guarantee athletes a healthy cash flow in their lives post-retirement.
An obvious option for achieving that end is investing in real estate. As 18th century British philosopher and politician John Stuart Mill remarked, ‘landlords grow rich in their sleep’. Real estate is one of the oldest, safest and almost always in-demand markets in the world. It is characterised by stability, reason and parity with broader economic forces, and thus, a relatively safe option for anyone with solid capital – usually the case for athletes.
This month, we dive deep into the real estate market to explain how and why it should be considered a good choice for athletes, how it works, its pros and cons and the factors that drive it. Moreover, we explore certain aspects of real estate that concern athletes such as the implications of gifting property to family and friends. Finally, we take a brief look at athletes who decided to take the leap and invest in real estate and how successful they have been.
Athena P. Constantinou