During your professional rugby career, the game is a central part of your life. You spend most of your days training, and much of your mental energy is likely directed towards preparing for the next big match. Lifestyle factors such as your diet or sleep schedule are also closely monitored to ensure peak performance.
All this effort is worth it, though, when you push your team to a big win and reach new heights in your career. However, if you focus so much of your time and energy on rugby, it can be challenging to move on when you eventually hang up your boots.
1 in 2 ex-sportspeople did not feel in control of their lives 2 years after retiring
The transition to retirement can be very daunting for professional sportspeople. Back in 2018, the Professional Players Federation (PPF) conducted a study to identify some of the challenges that ex-players in several sports faced. According to the BBC, the results showed that 1 in 2 of the 800 players surveyed said they did not feel in control of their life two years after retiring.
Many players also reported a “loss of identity” and feelings of “regret” or “devastation” when they finished playing. However, if you prepare for this transition ahead of time, you can find meaning in your life beyond your playing career.
Here are three ways to manage the loss of identity you might feel when hanging up your boots.
1. Use your free time to nurture important areas of your life off the pitch
During the rugby season, when you have a full schedule of training and matches, it can be difficult to find time for your friends and family. So, although retirement is difficult, you may want to focus on the positives and take advantage of opportunities to spend more time with your loved ones.
Also, your professional career is only one part of your identity and there are lots of ways to find meaning off the pitch. While you are playing, you may not have much time for hobbies, but once you have retired, you have more freedom to explore new interests.
This could involve playing other sports, or might be something entirely new, such as art or music. It may take some time to find an interest that is right for you, but if you are willing to try activities, you can give yourself new direction.
Using your free time to nurture other important aspects of your life could help you find a sense of identity after rugby.
2. Find a second career
While you may benefit from having more free time when you retire from professional rugby, you might want to consider a second career eventually.
A new career could bring you a sense of purpose and help you remain financially stable now, and in the future. If you think about your second career while you are still playing, you might find that you are more prepared for the transition.
If you are having difficulty deciding on a second career, consider what you value in a job. For instance, if your passion for rugby is very important to you, remaining in the sport as a coach or commentator might be suitable.
Conversely, you may prioritise independence and the ability to make your own decisions, in which case you might explore setting up a business.
By deciding on a second career that supports your values, and setting new professional goals for yourself, you can retain your sense of identity in the long term.
3. Plan your financial future while you are still playing
When you retire from playing, you may experience a sudden fall in your earnings. This could make it more difficult to maintain your current standard of living and could make the transition into retirement harder.
Additionally, if you are trying to explore goals outside of rugby, such as starting a business or travelling with your family, it is important that you have the funds available to do so.
That is why it may be important to plan your financial future while you are still playing, and your earning potential is higher. By contributing to savings and investments, you can build wealth now, meaning that you may be able to achieve your desired lifestyle and pursue important goals after you hang up your boots.
Further to this, you may want to build wealth in your pensions and other savings so you can maintain a good quality of life when you eventually retire from whatever career you choose after professional rugby.
Ultimately, financial stability could give you more opportunities to find meaning after retiring from the game. We can help you create a financial plan to achieve this.
Get in touch
If you are approaching the end of your playing career or have recently retired from rugby, we can support you with your next steps.
Email enquiries@dbl-am.com or call 01625 529 499 to speak to us today.
Please note
This article is for general information only and does not constitute advice. The information is aimed at retail clients only.
All information is correct at the time of writing and is subject to change in the future.
A pension is a long-term investment not normally accessible until 55 (57 from April 2028). The fund value may fluctuate and can go down, which would have an impact on the level of pension benefits available. Past performance is not a reliable indicator of future performance.
The tax implications of pension withdrawals will be based on your individual circumstances. Thresholds, percentage rates, and tax legislation may change in subsequent Finance Acts.
The value of your investments (and any income from them) can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance.
Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.
