With many international football stars set to announce their retirement, we’ll take a look at how some of the game’s past stars have succeeded financially after retiring as well.
In the wake of what has been one of the greatest and most exciting World Cups of all time, many of the game’s greats have either decided to hang up their boots or are contemplating retirement. Many of you may remember Lionel Messi famously retiring from international football in 2016 following Argentina’s defeat to Chile in the Copa America Final.
While the news came as a shock to the footballing world, Messi eventually overturned his decision to lead Argentina towards qualification for the 2018 World Cup in Russia. However, after Argentina’s dismal showing in the recently-concluded tournament, the world waits with bated breath to see whether Messi will once again live up to his threat of retiring from the Argentine national team.
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But what do football stars do once they retire? One would think with the amount of wealth they amassed over the years, they would probably spend the rest of their lives lounging on a private island somewhere. However, you would be surprised to know that many of the game’s biggest stars of yesteryear have parked their wealth in highly lucrative investments.
Of course, there are umpteen stories of famous football players who ended up penniless after retiring due to poor financial decisions, but we’re going to talk about a few success stories that could inspire all of us to make the right moves once we hang up our proverbial boots.
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Steven Gerrard
One of the most famous and revered English football players of all time, Steven Gerrard practically enjoys demigod-like status in his native Liverpool as well as among football fans the world over for being one of the best midfielders of his generation.
Although he announced his retirement from football in 2016, Gerrard planned for retirement early by investing in the restaurant industry as early as 2008. Eventually buying his favourite restaurant in 2018, The Vincent Café & Cocktail Bar, in Liverpool, Gerrard ensured that he would see a steady stream of income comes his way even after deciding to call it a day.
This is something we should all keep in mind, especially if we can see our retirement over the horizon. Investing early will make sure we at least have enough to meet our daily expenses once we retire.
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Andres Iniesta
Spain’s legendary midfield maestro recently announced his retirement much to the dismay of Barcelona and football fans everywhere. While the world may never see players of Iniesta’s quality and consistency again, there’s no denying that his dazzling performances over the years have made this former World Cup winner one of the richest players on the planet.
If there was one thing Iniesta was known for, it was ‘game intelligence’. But the Spaniard showed his smarts off the pitch as well by making sound investments in real estate around Spain that will see his wealth grow well into his retirement years.
Not the hard-partying kind like many of his peers, Iniesta was always seen as a practical, no-nonsense personality. Similarly, if we are to ensure that we live out our golden years in comfort, diverting part of our income early on into Mutual Funds or Fixed Deposits is key. Instead of blowing our monthly salary on expensive night-outs every weekend, investing this money will hold us in good stead for the future and beyond.
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Rio Ferdinand
The former Manchester United legend is a prime example of how to diversify your investments post retirement. Known for his astute reading of the game, Ferdinand applied the same awareness when it came to making the right financial decisions at the right time.
While he certainly made a fortune playing for one of the richest clubs in the world, he also earns a pretty penny from his other ventures. Currently, the owner of Rosso, a highly successful Italian restaurant in Manchester, Ferdinand also branched out into the world of fashion and music, starting his own rap and fashion label, which has certainly paid rich dividends.
As you can tell, the key to growing your wealth is diversification. Investing in a range of financial products can not only lower your exposure to risk but can also fetch you returns from a wide range of sources and avenues. Spreading your investments over stocks, bonds, insurance policies, gold, funds etc. could be the perfect way to tide you over post retirement.
Additional Reading: How Important Is A Well-Diversified Portfolio?
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Eric Cantona
Infamous. Enigmatic. Eccentric. Those are just a few words that can be used to describe Eric Cantona, and it still wouldn’t be enough. The French footballing legend captured the imagination of football lovers the world over during his time with Manchester United and the French national team with his sublime skills and unpredictable temperament.
While most football stars of his ilk either made millions or went broke after retiring, Cantona, true to his nature, decided to go off the beaten track and pursue a career as a movie actor. Interestingly enough, his magnetic personality saw his acting career soar as his films earned him a fortune over time.
Many of us may think twice about going off the beaten path, especially when we near the twilight of our careers, but with social media being the juggernaut that it is, there are many ways we can embark on an alternative career after we retire.
From developing our own cooking shows, making viral music videos, reviewing fashion brands and restaurants, making travel vlogs etc., the possibilities are endless. So, if you have a great idea, a ton of motivation and want to have some fun after your career winds down, then invest your time and money in some off-the-wall career options the way Cantona did. It might turn out better than you ever expected.
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Sure, we all daydream of a living the life of a famous football player, but remember, they didn’t get to where they are without making smart financial decisions.
So, wait no more. We have a ton of amazing financial products that can help you plan for your retirement so that you can rest your weary feet without a care in the world.