Financial Advice for Pros

You have about 10 – 15 years to build up a solid financial situation for your life after pro.


  • The agent is more interested in his income than to help you
  • The agent is not familiar with the special situations and limits of a pro
  • You are not spreading the investments
  • You go for the highest risk
  • You are making quick and emotional driven decisions
  • Your plan does not consider the above comments
  • You chose the wrong insurance – did not read/understand the details about payment restrictions
  • You only have one advisor
  • No or reduced employers’ liability
  • Listening to unacquainted peers
  • Low assets at the beginning
  • Loans for consumer goods and articles of consumption
  • Total interest and redemption rates & changes after determined period

Your plan should consider that

  • A pro career can end unexpected
  • Your income could be from high to zero during any time period
  • That there might not be enough financial resources/assets built up to retire
  • Some investments may end up in a total loss
  • You probably need some kind of education to get a job after pro. Career after the      career
  • Compound interest
  • You generate other independent income or assets
  • You might have an identity crisis after your career
  • You have a lot of free time, use it! Education during regeneration
  • You set a monthly spending limit for yourself – the rest are savings

What you should do:

  • Try to gain basic knowledge about financial planning
  • Find the right agent/advisors
  • Start preparing as early as possible, diversify, be aware that every transaction normally costs money
  • Ensure you always have liquidity
  • Have a return of capital (4% is good)
  • The majority should be secure investments
  • There is a correlation between Return of Capital – Security and Availability
  • Calculate inflation, tax and maybe exchange rates
  • Ensure you have the necessary job qualification at the end of your pro career. This enables you to use existing contacts with clubs and sponsors, which can result in a good job
  • Know good doctors and physiotherapists if not provided by the club
  • Supporting private relationships
  • If you are young, short term contracts might be better
  • Get to know the written and unwritten pro-business rules
  • Use contracts with the FIBA BAT statement

What is necessary?

  • Insurances - at a minimum health & nursing, unemployment, temporary and permanent total disability, retirement and liability. Accident insurance could be part of health & inability to work. Depending on the country, bills need to be paid either by you or by you and the club or only by the club
    • Insurance for your house/apartment, household, car, bike are also a must
    • In many cases professionals need special insurance
    • Travel health insurance
    • “Wild card” for youth  or young players before pro (health care)
    • Marriage settlement
    •  Patient order
  • Investments with leverage effects (E.g. annuities financing / suspension of redemption / variable loan) consider a term life insurance if married/or with family
  • Define your goals at the beginning – what do you want to reach?
  • An experienced, certified, trustful, supporting agent with human competence and a large network outside of the sport.
  • An experienced tax advisor, knowing the athletes situation and understands that you might work in different countries, different contracts (net/gross/currency…) 
  • An insurance broker, who you can trust
  • An independent financial advisor (attention – kickbacks!) good: certified by DIN ISO 22222 and/or is a Certified Financial Planner (CFP)
  • Education and certifications during your career
  •  Sport lawyer – best connected to your agent and knowledgeable about the FIBA BAT
  • Your initiative to get informed and for execution
  • Be ready to take responsibility of possible negative news


Other interesting subjects to think about:

Mental training, nutrition, rehabilitation options, being away from family & friends, off-season training, marketing, trainee opportunities, coaching youth

More Info