Financial Planning: What Every Athlete Needs to Know

You’ve put everything into your career as an athlete. The early starts, late nights, the sacrifices. Whether you’re breaking through, in your prime, or approaching your next chapter, one thing is certain – the choices you make with your money today will define your freedom, security, and opportunities for years to come.

For a professional athlete, financial planning is a different game. Careers are short, incomes fluctuate, and pressure from every angle is constant. That’s why your financial planning needs to be robust, personal, and forward-thinking.

Here’s how to play the long game with your money:

1. Get Clear on Your Cashflow
   

   Big earnings don’t always mean big savings. Understand what’s coming in, what’s going out, and what’s really yours to work with. This awareness puts you in control!

2. Understand Your Financial Lifecycle
   

   Your earning power peaks early. Plan as if your income has a time limit, because for most athletes, it does. Make every minute count.

3. Build Your Money Team Early
   

   Surround yourself with trusted professionals who understand your world. That might include a financial planner, accountant, lawyer, and agent. Working together with your best interests at heart.

4. Plan for Life After Sport
   

   Don’t wait until retirement to think about what’s next and what you want your life to look like. The earlier you plan, the more choices you’ll have, and the smoother the transition will be.

5. Protect Your Income and Your Future
   

   From injury cover to career-ending insurance, protection matters. As an Athlete, you’re your greatest asset, make sure you’re covered.

6. Don’t Just Save, Invest with Intention
   

   Saving is good. But investing, when done properly, builds long-term wealth. Use your playing years to create a financial base that lasts.

7. Avoid the Noise (and the Scams)
   

   From dodgy investment tips to financial hangers-on, there’s no shortage of distractions. Get advice from regulated professionals, not social media.

8. Stay Curious and Informed
   

   Financial literacy isn’t just for the top 10%. The more you know, the more confident (and independent) you become.

Your playing career is an incredible chapter, and your life after sport can be just as rewarding. That’s why we don’t just focus on the numbers, we focus on you. Your goals. Your wellbeing. Your legacy.

At First Wealth, we support athletes like you through every stage, on and off the pitch. We coordinate your Money Team, cut through complexity, and help you plan with purpose.

Because it’s not just about managing wealth. It’s about helping you live a life you love, long after the final whistle.

Ready to take control of your financial future? Let’s talk. Please get in touch on 020 7467 2700 or at hello@firstwealth.co.uk.

This document is marketing material for a retail audience and does not constitute advice or recommendations. Past performance is not a guide to future performance and may not be repeated. The value of investments and the income from them may go down as well as up and investors may not get back the amount originally invested.