Making Money as a Retired Sportsperson

The average athletic career is known for being short-lived, with most sports people retiring before the age of 30. Within a space of just a few short years, however, professional athletes dedicate their whole lives to the sport and essentially put other aspects of their life on hold for their careers. It is natural, therefore, for a sportsperson to feel quite lost in the period following retirement from the sport. Although it might be possible for some sportspeople to retire completely and resign themselves to a life of leisure when they give up playing the sport professionally, the fact that the average retired athlete is relatively young means that most explore the option of pursuing an alternative career path upon retirement. 

Even though making a career transition into a more real-world profession, be it business, media, or motivational speaking and charity, can certainly be difficult for some sportspeople but it is by no means impossible. In fact, there are many instances where former players make more money in the career ventures they pursue once their sporting career is over - which provides proof that there really is life after sport. 

Likewise, many sportspersons who have jobs put their promotional intentions on hold pending retiring from their chosen sport.

Let's look at just some of the lucrative career options for retired sportspeople…

Coaching

Although the adage says that: 'coaches don't play', that doesn't necessarily mean that retired sportspeople don't make great coaches. Coaching is a lucrative industry. However, former athletes don't necessarily need to coach in the professional ranks. Those looking for a slower-paced job might find coaching more rewarding. Athletes tend to have excellent motivational and communication skills, which teamed with their knowledge of the sport, make them excellent coaches. 

Sports Media

Another terrific career transition that many former pro athletes make is into the media industry. Sports analysis comes naturally to many former players who know their game like the back of their hands. Their knowledge and passion for sport help them provide an authentic voice for the game, whether in the role of a sports broadcaster or a sports writer. 

Entrepreneurship

While staying connected to their sport is vital to some former athletes, others use retirement as an opportunity to pursue other passion projects. A study carried out by LinkedIn showed that the top profession amongst former sportspeople was entrepreneurship. Investing in a business is an excellent way for professional athletes to make their earnings go further and capitalise on their sporting profile. 

In short, sporting careers themselves tend to be short-lived and intense. While many think the skills required to succeed at professional sports limits a person's career opportunities, this is by no means true. The skills and personal qualities necessary to be a professional sportsperson are not only highly transferable to a range of industries but are also highly sought-after by employers. Ultimately, life after sport is full of diverse career opportunities for former athletes both within and beyond the world of sports, providing that they spend some time mentally preparing for this career transition. 

What to do next?

If you’re a sportsperson and have any questions about life after sport or wish to apply to business those skills achieved in sport, send me an email to coh@hrworks.ie to book in a free call!