Financial Planning For Professional Athletes
As a professional athlete, you’ve learned to combine hard work, your natural abilities, and the opportunities in front of you to make the most of your potential. But being at the top of your game on the field or on the court doesn’t mean you’ll dominate your finances.
If you want to turn in an MVP performance in life as well as sport, having the right coaches can make all the difference.
Professional athletes have unique financial planning needs. At MyFuture, our Qualified Financial Advisers understand these needs and have the knowledge and experience to provide you with personalised service that protects you now, secures your future, and keeps you prepared for whatever life throws at you.
Whether you’re just beginning your career as a professional athlete or you’re thinking about your retirement potential, there are ample opportunities for you to make the most of your income, manage it wisely, and make it last well beyond your playing years. Make your hard-earned money last a lifetime with help from the experts at MyFuture.
Financial Planning For Professional Athletes
Professional athletes can earn six-, seven-, or even eight-figure salaries over what most people would consider is a brief career. This is more than the average worker will likely see throughout their lifetime. But these high salaries can provide a false sense of security if your money isn’t managed wisely.
Knowing where and how to invest your money means finding the sweet spot between risk and reward so you can continue to reap the benefits of your hard work all the way through your golden years.
This is where financial planning takes the podium.
Laying the foundations of solid financial security will enable you to pursue the lifestyle you’re accustomed to or the lifestyle you want, whatever that may be. You’ve put in the hard work to reach the top levels of sport, but enjoying your earnings won’t require you to jump through the same hoops.
When you’re on the right team, your financial planner can do the hard work and set you up for success every step of the way.
Get Ahead With Quality Financial Advice
Our Qualified Financial Advisers can help you achieve your goals with a tailored financial plan and proven financial expertise.
How Does Financial Planning For Professional Athletes Work?
We know that you have put your blood, sweat, and tears into reaching the pinnacle of your sporting world, so you should be able to enjoy retirement for decades to come. That’s why the team at MyFuture provides a personalised service that puts your needs first. The financial planning process follows a proven 6-step process to make sure all your bases are covered and your financial needs are met.
What is our 6-Step Financial Advice Process?
The 6-step financial advice process is the international benchmark for financial planning. This holistic approach is proven to increase the likelihood of you achieving your financial goals.
Understand Your Decision
We start by understanding your goals, financial position, and the decision you’re trying to make. You may already have done your own research, used AI, listened to podcasts, or compared options. That’s completely fine — our role is to understand where you’re at and where you feel stuck. We do this during a Discovery Session.
Validate, Refine or Rebuild
Next, we review your situation, run the numbers, and assess the options available to you. Sometimes your thinking is on the right track. Sometimes it needs refining. And sometimes a different strategy is required. Our job is to help you make a confident, well-informed decision based on your life, your goals and your long-term financial future.
Take Action
A good decision only matters if it gets implemented. Once you decide on the right strategy, we help you put it in place. Whether that involves restructuring lending, setting up investments, reviewing insurance, updating KiwiSaver, or working with other professionals. We don’t just hand you a plan and leave you to figure it out. We're here with you for the entire journey.
Stay Accountable
This is where long-term progress happens. We continue to monitor your position, review your strategy, and help keep you accountable as life changes. Whether interest rates move, your income changes, you receive an inheritance, buy a property, or simply need guidance on the next decision, we’re here to help you stay on track.
Frequently Asked Questions
Why Is Financial Planning For Professional Athletes Important?
With such lucrative earning potential at the most youthful time of your life, it’s easy to get carried away with living a lavish lifestyle, helping out family members, buying luxury goods, and generally enjoying the fruits of your labour. While we don’t blame you for living it up, a financial planner can make sure you can continue to live it up for as long as you’d like, well after your professional sports career has come to an end.
As a professional athlete, you’re in a unique position since you probably won’t be able to continue earning the big bucks until you’re long in the tooth. Thankfully, by protecting your assets, utilising effective tax saving techniques, investing strategically, and spending wisely, you can make your funds last regardless of whether or not your contract is renewed, you suffer a career-ending injury, or decide to walk away on your own terms.
Beyond providing financial independence and personal freedom, financial planning also lets you continue to dream big. Whatever your personal goals, whether you want to change careers, retire early, start a new business, or splash out on a new car or boat, your financial goals are within reach when you work with the right financial planner.
So what are you waiting for? The key to your financial freedom is at your fingertips, so get in touch with the Qualified Financial Advisers at MyFuture today and we can get started on helping you continue to live the dream. Book a FREE no obligation Discovery Session now.