Many NFL players face the bitter truth that, after their playing days are over, they must plan for the future financially and need education on how to do so. Long-term planning is required in order to have stability and success outside the playing field.
Also Read – Record Breaking Viewership of NFL

Financial Literacy is a Necessary Skill

A big step forward that most NFL players take is developing their financial know-how.Many organizations have budgeting and investing workshops and educate players on managing income. After all, Marshawn Lynch became a financial advocate for today’s younger athletes, pleading with them to learn how money works. For his part, Lynch did quite a bit of things to tie up his financial nest egg when he agreed to live off endorsement deals in exchange for saving his NFL paychecks.

Advantages of a Professional Advisory

Activation of financial advisors also becomes a game-changer for players. Former NFL linebacker Darryl Sharpton shares an example related to his experience in working with financial experts to come up with a comprehensive plan for his post-football life. Through consulting professionals, Sharpton was able to diversify investments and guarantee a steady flow of income upon retirement. Proactively, it can shield players from financial vices often plaguing retired athletes.

Education: The Never-Ending Journey

Much more than being fiscally prepared, though, many of the players go on to further education in preparation for what is next. While some may go to finish their four-year degree, others go into training in specific fields. For instance, former NFL player Chris Gronkowski went back to school to study business, and once his playing days were over, he might go on to create a very successful entrepreneurial venture. The commitment to education that players have is just one example of how time spent within the NFL can be used to acquire skills applied well beyond the football field.

Networking and Professional Life

Networking is another aspect that helps in making the transition as smooth as possible. Many players use the events and workshops structured for them to connect with industry leaders and potential employers. For example, LaDainian Tomlinson has been to a number of NFL alumni events. These mostly revolve around career development since most of these alumni events provide them with the opportunity to have business, media, and coaching opportunities.
Also Read – How NFL Players Invest