Sports Career Options after College – Important Things to Know

While getting a degree in college is very important, not all graduates are cut out to work behind a desk from 9 to 5. The work life of someone who is a bookkeeper Melbourne or an accountant maybe too mundane for those who seek an active daily routine. Those who are more inclined in sports would typically aspire to find a career in the sports industry after their university education. The sports industry offers a pretty nice lifestyle for their athletes. Aside from six figure paychecks, there are several more benefits of a career in sports.

For those of you who are interested in what a sports career offers after college, here are some important things you need to know:

Various Sports Balls

Various Sports Balls

Keep your body healthy.

As an athlete, your body is your most precious asset. Because a career in sports requires a strong and healthy body, it is just right that you invest in yourself. Aside from the regular workout and training sessions, ensure that you have a healthy intake of the right foods. Additionally, stay away from vices like smoking and drinking alcohol, as these can have a huge negative effect on your body.

Athletes have a short career span.

According to experts, the average career span of a professional athlete is only about 10 years. This is not considering the risks of injuries, which can lead to early retirement. Because of the short career span, it is important that athletes have a sound financial plan. Do not spend everything today and keep relying on tomorrow’s paycheck because athletes don’t have a long future in the field. Also, consider branching out to a different career that’s still related to your sport like coaching or producing your own professional team.

The competition is tight.

Everyone wants to be an athlete, especially since this profession typically comes with a very lavish lifestyle that young people desire. But while so many yearn to go pro, not everyone will get a spot on the team. When you are trying to go pro, expect that the competition in this industry will be great and push yourself to rise above them so you will standout.

Hire trusted advisors from reputable firms.

Getting inside an industry as massive as the sports industry can be very overwhelming, especially to fresh graduates. For a stronger foothold while you are starting out, invest in a trusted career advisor or an agent from a reputable firm. Having someone from the industry looking out for you will definitely get you better deals and bigger paychecks. Aside from a career advisor, you might also want to consider hiring a financial guru to help you create an efficient financial plan and manage your funds. Because you will be entrusting a big part of yourself to this adviser, ensure that he/she can be trusted. The extra expense might be tough at first but consider it an investment that can boost your career in the future.

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS

Read More

Life After Sport: Retirement for Lacrosse Players

I’m pretty sure that you’ve already heard the old saying, “Athletes die twice in their life. The first time is when they retire from their career.” As a sports lover, particularly lacrosse, I can really feel how it is hard for players to reach their retirement age because that means letting go of that something that they truly love – and it is not easy. Just like other athletes, lacrosse players train from a very young age, spending most of their time, sacrificing their personal lives, and dedicating their whole lives in order to become excellent in what they do. They even move away from their family and ignore their own personal health just to perform the best for their team and pursue their biggest dream. But as they say, nothing in this life is permanent; and even though athletes don’t want to retire, they still have to when the time comes.

lacrosse player

But what happens to athletes when their career comes to an end? If you’re a lacrosse player, what will you do once you leave the field of sports? Do you have a home to go to? Do you have other hobby to keep your mind and body active? And most importantly, do you have enough money to live on? When it comes to retirement, one of the most important things that people should think about is their financial status. Sure, athletes can earn millions of dollars during their careers but with all the risks that come with playing sports and the relatively short career that they can take, saving enough money for retirement is really hard. And this is the very reason why athletes are encouraged to not only save, but to also carefully plan their retirement by taking care of their health and investing to retirement benefit plans, such as individual retirement accounts (IRAs), 401(k) account, and self-managed superannuation funds (SMSFs).

Investing to different retirement plans can give you a lot of benefits, including availing tax benefits, increasing the value of your assets, and providing financial protection to your dependents. Of course, it is very crucial to talk to your financial adviser before signing to any of retirement plans available in your area. You have to make sure that you understand first how these types of plans work and what are the benefits and rules of these policies.

If you’re a higher-earner athlete, you may also want to consider investing to other saving options to effectively secure your future and these include, starting a business, investing in stock market, and investing in real estate. But again, you have to talk to a financial expert before making a choice.

Retirement planning is sure to be a very complex issue, but it doesn’t have to be scary. After all, there are so many professionals out there who can help you better understand it and know what to do. You just have to open yourself and be willing to do your part. Eventually, you’ll be able to control your finances, enjoy your retirement, and live a happier and fulfilling life.

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS

Read More