{"id":1532,"date":"2022-12-05T12:42:21","date_gmt":"2022-12-05T12:42:21","guid":{"rendered":"https:\/\/www.arkenstonewealth.co.uk\/blog\/?p=1532"},"modified":"2023-06-19T15:08:43","modified_gmt":"2023-06-19T14:08:43","slug":"planning-for-financial-security-after-the-final-whistle","status":"publish","type":"post","link":"https:\/\/www.arkenstonewealth.co.uk\/blog\/planning-for-financial-security-after-the-final-whistle\/","title":{"rendered":"Planning for Financial Security after the final whistle"},"content":{"rendered":"

Planning for Financial Security after the final whistle<\/strong><\/span><\/p>\n

Sport and the rest of the world don\u2019t always line up. You wouldn\u2019t find someone leaving school or university and leaping straight into a director level position paying \u00a3150k per year as a starting salary.<\/p>\n

And you certainly wouldn\u2019t find someone earning \u00a3500k at 35 suddenly finding their potential income hurtling back down towards zero, just because of their age.<\/p>\n

It\u2019s just not how things work in the corporate world.<\/p>\n

But it is how things work in sport. Before I was Rowan the financial advisor, I was Rowan the rugby player. Semi-professional for the Sharks over in South Africa. And while I never pulled down that \u00a3500k a year, I did see top-level professionals experience what happens when your earning potential goes from very high to almost nothing overnight.<\/p>\n

And it taught me three lessons that will apply to any sportsman, whether you\u2019re Roger Federer or a semi-pro scrum half.<\/p>\n

You need to think about today<\/strong><\/p>\n

It\u2019s a real privilege to earn hundreds of thousands of pounds in your twenties. You\u2019ve worked hard, committed to your sport, and you\u2019ve been rewarded. But the problem is that when we\u2019re in our twenties, we\u2019re not thinking about our forties, and certainly not our seventies or eighties.<\/p>\n

But you don\u2019t even need to look past the next 12 months to see the real value in financial forward planning.<\/p>\n

Because what happens if you get injured tomorrow?<\/p>\n

What happens if you fall out of favour with your coach and don\u2019t get a new contract?<\/p>\n

What happens if the club goes bump (and believe me, there are hundreds of professional footballers who thought that would never happen<\/em>)?<\/p>\n

Yes, you want to maximise your quality of life and your lifestyle today, but you need to take the right steps to safeguard yourself – and your family – in case something happens to you in the very near future.<\/p>\n

You need to think about tomorrow<\/strong><\/p>\n

Maybe you\u2019ll be lucky. Maybe you\u2019ll never so much as sprain an ankle playing top level sport. You\u2019ll be loved by coaches and owners and fans, and get new and lucrative contracts. Your club will be successful, and the money will keep flowing year after year.<\/p>\n

And then you hit 34. Or 35. 40 if you\u2019re an absolutely peak physical specimen.<\/p>\n

Your career will naturally wind down, and even if you keep playing as a veteran, you won\u2019t earn as much as you did at your peak. Maybe you\u2019ll be one of the vanishingly small number of ex-professionals who gets a job in punditry, or you\u2019ll move into coaching. But even the best-paid coaches and managers in sport don\u2019t pull in as much as the top players.<\/p>\n

Your earning potential is massive. But the window to maximise that potential is small. So you need to have one eye on the future – will you have enough money to retire and live a life of luxury? Or will you have enough to start your own business, and lay the foundations for success in a second career?<\/p>\n

The right plan can be the difference between a life spent on the golf course, or having to start over in a brand new career with middle age rapidly approaching.<\/p>\n

But most of all, you need to start thinking now<\/strong><\/p>\n

Whether you\u2019re thinking about today or tomorrow, the most important thing you can do is to start thinking now.<\/p>\n

You\u2019ve been handed an amazing opportunity to set yourself up for a life of financial security, and as any pub pundit will tell you, the best sportspeople are the ones who convert their opportunities.<\/p>\n

Starting now gives you the chance to take advantage of compound returns, which we explain in this blog<\/a>, and you don\u2019t need to be on Lionel Messi\u2019s wages to make it worthwhile.<\/p>\n

We\u2019ve just put together a plan for a professional sportsman, and even though he\u2019s not on a Premier League level wage, we\u2019ve still shown him just how achievable it is to plan for a happy, comfortable life after sport.<\/p>\n

If you\u2019re thinking, we\u2019re listening. Get in touch with Arkenstone today<\/a>, and we\u2019ll be happy to talk through your options.<\/p>\n

Rowan Howse, Financial Planner<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Planning for Financial Security after the final whistle Sport and the rest of the world don\u2019t always line up. You wouldn\u2019t find someone leaving school or university and leaping straight into a director level position paying \u00a3150k per year as a starting salary. And you certainly wouldn\u2019t find someone earning \u00a3500k at 35 suddenly finding … Continue reading “Planning for Financial Security after the final whistle”<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.arkenstonewealth.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1532"}],"collection":[{"href":"https:\/\/www.arkenstonewealth.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.arkenstonewealth.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.arkenstonewealth.co.uk\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.arkenstonewealth.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=1532"}],"version-history":[{"count":4,"href":"https:\/\/www.arkenstonewealth.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1532\/revisions"}],"predecessor-version":[{"id":1576,"href":"https:\/\/www.arkenstonewealth.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1532\/revisions\/1576"}],"wp:attachment":[{"href":"https:\/\/www.arkenstonewealth.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=1532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.arkenstonewealth.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=1532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.arkenstonewealth.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=1532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}