From Super Bowl hero Nick Foles to women’s soccer pioneer Alex Morgan, athlete retirement news has been on the rise this week. But despite the thrill of retiring from your sport, it’s important for athletes to understand that their careers don’t end when they hang up their jerseys or step off the field.
Athletes who aren’t prepared for retirement can find themselves struggling to balance life off the field with the demands of their sport. For example, a professional athlete’s paycheck may not cover the cost of elite training and equipment, leading some to go broke in their early post-athletic years. And without the right financial planning, athletes can find themselves on food stamps or in credit card debt as they attempt to make ends meet.
This week, Alex Morgan announced that she’s retiring from soccer at the age of 28. The two-time Olympic gold medalist, who scored 123 goals with the US Women’s National Team, is known for her leadership role in pushing women’s sports forward. She recently took her message to a new audience as a founding member of the gender equality advocacy organization Togethxr, and she’s also taking her talents into the business world with a partnership with the London City Lionesses.
Athletes who are prepared for retirement can make a successful transition to the next phase of their lives. One strategy is to keep in touch with their former sports peers while balancing time with friends and family. This can help them figure out their identity outside of the sports world and avoid feeling like a fish out of water after retiring.