{"id":3657,"date":"2021-01-18T19:45:35","date_gmt":"2021-01-18T18:45:35","guid":{"rendered":"https:\/\/cowrywise.com\/blog\/?p=3657"},"modified":"2023-03-22T14:13:30","modified_gmt":"2023-03-22T13:13:30","slug":"football-musicians-broke","status":"publish","type":"post","link":"https:\/\/cowrywise.com\/blog\/football-musicians-broke\/","title":{"rendered":"Why Footballers and Musicians Go Broke After Retirement"},"content":{"rendered":"\n
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A team member (who does not watch Football or know much about the industry) asked if this image is real. Like our teammate, you also might not have followed Football much. Still, the name \u201cTaribo West\u201d will ring a bell.<\/p>\n\n\n\n

This image in itself does not indicate Taribo West\u2019s Net Worth or confirm that he is broke. It, however, definitely shows that unlike retired footballers who may end up as coaches, managers, pundits or businessmen; he ended up on a very different path. Interestingly, the flyer above shows that he still uses his influence as a former player to help get some traction in his ministry.<\/p>\n\n\n\n

We often hear stories of former star footballers. Many of whom we expect to be doing much better than they currently are. Like Taribo West, some names might already pop up in your mind right now. Names of stars who truly lived the rich life and now just get by with whatever their hands find.<\/p>\n\n\n\n

You might judge and wonder what happened and some of us might have even googled “Why do footballers and musicians go broke?” but this post contains lessons for everyone; famous or not. The earning window for each of us is not lifelong; and for footballers, it is even shorter. At most, they will actively earn between the ages of eighteen and thirty years. After that, they\u2019re faced with the decisions they made while balling <\/em>\u2013 pun intended.<\/p>\n\n\n\n

Can These Footballers Go Broke? <\/h2>\n\n\n\n

Footballers earn a lot during the peak of their careers. For example, Messi’s net worth is estimated to be around \u00a3309m ($400m)<\/a> as of 2020. While Ronaldo\u2019s net worth is estimated at $450 million<\/a>, that\u2019s about \u20a6178Billion (\u20a6178,814,475,000 to be exact).<\/p>\n\n\n\n

These are the two MVPs in football right now. So it is absurd to even think that they can ever go broke. Granted, Taribo West did not make as much as they did during his time. However, what guarantees continuous prosperity for footballers is not popularity or even influence; it is detailed and calculated moves off the pitch with their finances too.<\/p>\n\n\n\n

People assume that retiring from football (or retiring at all) calls for celebration and leads to a life of ease. However, that\u2019s not always the case. They forget that the large sum they make while in the game is meant to last the rest of their lives. Also, footballers retire earlier than the average person, therefore have to be even more strategic in planning their finances for retirement.<\/p>\n\n\n\n

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You cannot retire based on your age; only based on your net worth.<\/p>— D.Muthukrishnan (@dmuthuk) January 11, 2021<\/a><\/blockquote>