Why Athletes Struggle After Retirement

1511 WordsMay 6, 20177 Pages
Mike Tyson, a renown world-wide boxer, made over $400 million dollars in the span of his boxing career. However, before his retirement from the sport, Tyson had declared bankruptcy in 2003. Tyson was known to spend his match earnings on materialistic wants like jewelry, limousines and even a Siberian Tiger. Currently, Tyson has debts to owe to different people and companies. As he works with his bankruptcy lawyers, he will continue to decrease his debt as much as he can. The problem that Mike has and along with numerous other professional athletes is that they struggle financially and emotionally after they retire (Ford). Now becoming prominent in the sport’s world, athletes’ lives seem to decline post-retirement. However, some know the…show more content…
A combination of all these aspects leads retirees to stress and a struggling retirement. Professional athletes are notorious based on their names, their jersey numbers, and the teams they play for. What isn’t their forte is their investment portfolios or the stocks they have positions in. They’re not experts with money and aren’t well educated on the subject of money too. When they retire, they lose money due to the reason their expenses outnumber their revenue (Laura). They will recede into a financial crisis and can lose everything. On the other hand, former players give up the sport they love to retire at an early age, giving up their dreams and major goals in life. They feel empty about themselves and begin to progress into an emotional crisis where they can’t motivate themselves to even go outside. Emotionally, they have a downfall because of retiring, which can affect the other aspects of life (Chadiha). Physically, professional sports can be demanding on the body, consequently, athletes are prone to injuries. In the NFL, concussions are the majority form of injuries and are also damaging long-term. Damage to their body can be affected after sports and can also be the reason why they must retire (Chadiha). Putting their body on the line for the dream of having a temporary, short-term passion is an enormous dedication. The best way for professional athletes to prepare for life
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