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Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

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Tuesday, September 2, 2014

Retirement for Star Athletes

Star athlete

Retirement for many star athletes is similar to the average American, as they also struggle with some of the same emotional and financial challenges.  A major difference, however, is that pro athletes are forced to deal with it at a much earlier age when Social Security and Medicare are years down the road. 

Annika Sorenstam, who won 72 official LPGA tournaments and tops the LPGA’s career money list with earnings over $22 million, talks about retirement, “My heart and body were telling me that it was time to move on.  I had won the US Open and several other championships.  I had climbed my Mount Everest and the view was beautiful from the top but it was time for me to climb other mountains and see other peaks in my life.”  Super Bowl MVP Desmond Howard explains retirement somewhat differently, “You quickly realize that you’re the boss of something you don’t really understand.  You’re supposed to be the one in charge but you feel subservient because you don’t understand it.”  Pro hockey player Kris Draper explains the emotional turbulence he suffered in retirement, “Nobody prepares you for that kind of stuff.  After taxes, I always tried to save at least 50% of my game checks.” 

Other star athletes reveal sensible and thoughtful advice anyone can use to move toward retirement with equal amounts of courage and determination. 

See How Star Athletes Deal With Retirement, Forbes, Sept. 2, 2014.

http://lawprofessors.typepad.com/trusts_estates_prof/2014/09/retirement-for-star-athletes.html

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