The life of a retired athlete is not an easy experience, despite having lived a life of luxury and prestige during their playing days. Many athletes end up bored or depressed after they retire, largely due to the change in routine. When playing, they were accustomed to a strict daily schedule that gave them a sense of purpose and organized their life so they felt productive. However, when they are done playing, they often do not know what to do, and this jarring reality has led to many unhappy retirees. Additionally, many former players make poor financial decisions, and end up blowing much of their lucrative salary on extravagant items or misguided investments. Their families rely on them for financial support, and they often feel obligated to support their friends and loved ones, which can also lead to irresponsible spending.
Personally, I think that the NFL and other professional sports leagues could make a better effort to help players transition to retirement. While living the glamorous life of a professional athlete, the ex-players have little "real world" experience, and the issues that result are troubling. I think if the athletes could be educated with possible options after their playing days, there would be less irresponsible spending and the players would be much happier in the long run. It's interesting to consider the downfall of a pro athlete: an individual who had it all, and then ended up with nothing. The reality is that good financial habits are indispensable no matter how rich you are, and I think it's imperative that athletes realize this, and that steps are taken so that they don't face the issues that so many former athletes have had to deal with.
References: 30 for 30 documentary, and the articles provided
Interesting idea of the NFL helping players with post-retirement. I have never heard of anything like that, but other non-athlete jobs most definitely do that. I wonder if it is a money decision, or just a we-just-gave-you-so-much-how-did-you-screw-up decision.
ReplyDeleteColin Carmody
It is true that retired athletes need a basic knowledge of good spending habits. I agree that this is a significant factor in keeping former players happy and financially aware. If this were done this issue would be large in part diminished.
ReplyDeleteAustin Cannell
In one of my classes we talked about those who are born into wealthy families love money so they are better with managing their money because they love having it, and those who have never really had anything to having everything with a swipe of your card, they have no idea what to do with all that money. Long story short rich people like being rich and poor people are comfortable being broke. Do you agree or disagree with this statement?
ReplyDelete*Tiyana*