In the past few weeks, big-name athletes have made headlines for retiring. Super Bowl champion Nick Foles hung up his jersey, while women’s sports pioneer Alex Morgan played her final game with the San Diego Wave. These moves may seem like no big deal to fans, but they are often incredibly challenging for athletes who haven’t prepared for the shift.
In addition to changing their identity from athletes to “normal” people, retired athletes must figure out how to pay the bills. Especially for Olympians, going for gold can mean spending thousands of dollars a month on elite training and equipment. Some have reported relying on food stamps and credit card debt in their early post-athletic years.
Fortunately, many Olympians and other athletes find ways to support themselves after retirement. For example, WNBA legend Sue Bird and former US women’s soccer star Megan Rapinoe launched a podcast that explores the intersection of sports and equality and inclusion.
For some, however, those financial strains can be too much and they are forced to retire from sport. In a recent scoping review, researchers found that a significant proportion of retired Olympians and Paralympians didn’t feel prepared for life after sport.
The most important thing for athletes to remember when they make the decision to retire is that it’s a process. Even if they are ready to move on, there will be emotional and psychological strains that will impact them. Athletes should be aware of these strains, and know that they can seek help from a health care provider or other sources of support to cope with them.