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Monday, June 16, 2014

Brazil 2014 is not a Retirement Plan!


Brazil 2014 is not a Retirement Plan!

At last the wait is finally over.
It has been four long years!
We have made it!
The world cup is now under way in Brazil.
I don’t know about you but I having been looking forward to it since the end of Africa 2010.
Every four years I look forward to the the thrill of the anticipation, the competition and the excitement.
Starting with the opening ceremony, which this year featured Pitbull and Jennifer Lopez among others.
Then there is the game itself.
Will Messi live up to everyone’s expectations?
Who will take home the trophy this year?
Do you like many others think that it will be host country Brazil?
Or what do you think the chances are of Spain being this year’s winners?
What about the good old USA, how do you think they will fair this year?
Even their team coach, Jurgen Klinsmann maintains that we shouldn’t expect the USA to lift soccer’s top trophy.
Is Messi the greatest soccer player of all time?
This will certainly be his chance to see if he can be compared to several other players who have gone before him worthy of that title like Pele and Diego Maradona.
However the fact that these soccer players will be getting paid enormous amounts of dollars does not guarantee them a great retirement.
The fact is that retirement for most professional soccer players is far from comfortable.
Often due to a mix of immaturity, out of control spending and a lack of good financial planning makes the wealth of these soccer players extremely unstable.
I suspect that soccer players due to the stress and peer pressure off their positions and that for most of them retirement comes at a very early age may lead to financial downfall for some of these players.
One of the most obvious problems begins with extravagant spending which none of these players will be able to continue after their short careers end.
Another problem is bad investment choices most likely due to the lack of interest or knowledge of how to manage a multimillion dollar portfolio.
Bankruptcy is something that more than half of professional soccer players will face within five years of retiring.
However the saddest fact of all is that all too often all of these problems leads to the breakup of their relationships, the divorce rate is between sixty and eighty percent for these soccer players.
Unfortunately for these soccer professionals they are not prepared for their wealth and further more they never get the education that they need to be able to manage their wealth.