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Many consider sports as one of the most lucrative careers in the world. Many think it is, and elite athletes as a result of their special abilities have become used to special financial benefits.
And as many athletes continue to grow in rank, their financial earnings can be almost too much to phantom. Most times they spend lavishly on trending franchises, expensive cars, and lavish lifestyles.
Some have even tried to spend their fortune on charitable foundations which they soon realize become a burden. From the IAAF to the NFL, most athletes often find themselves having trouble managing their huge finances.
Unfortunately, after retirement, some athletes soon found out how quickly resources can dwindle as soon as they retire.
Even though some elite athletes continue to earn these humongous wages even after retiring due to solid sponsorship deals, most others have had to deal with the life that comes after retirement.
Then there are the average athletes, who make a lot more money than their age-mates, but their careers end all too soon and the money stops coming.
Worse still, retirement benefits take forever to arrive leaving them financially redundant. It is therefore imperative that financial planning should be considered as important for any professional athlete aiming to avoid financial trouble after retirement.
It has been established that the financial flow is there for athletes but making the money work, by investing, should be the ultimate aim of all professional athletes.
However, many athletes have considered various investment platforms to secure their future. The choice depends on individual personality and willingness to take risks.
But don’t be fools by investment platforms being run by corrupt individuals offering risk-free investments as no such thing exists. However, some athletes, because of their attachment to the game, have chosen to invest in sports betting stocks because of their knowledge of the game
Though, others have been employed as odds compilers by bookmakers or betting exchanges to set odds for events-such as NFL odds and pick for the upcoming games for customers to place bets on.
It is of importance to note, however, that one of the best investment options for the athletes is Real Estate investment. And because athletes have been known to earn quite a lot, the financial barrier shouldn’t be of much concern.
Investing in real estate mean purchasing properties such as land or building with the sole aim of making profits. Some investors earn through rents or reselling or even both; either in the short-run or long-run.
Real estate investment has been proven to be quite profitable and some famous athletes like Emmitt Smith, Roger Staubach, and Robbie Fowler have already made quite a fortune from real estate investment after they retired.
However, below are compilations in reference to some genuine reasons why real estate investment is the best option for athletes seeking a solid retirement plan.
Low-Risk investment
Real estate investment has proven to offer a relatively safe, stable, and low-risk investment suitable for novice investors. Though, it may take some time to begin reaping the dividends of the investment depending on structure involve, but as an athlete, it would prefer a suitable solution for retirement due to their clicks
In fact, landed properties take some time to get damaged and even if they do, a well-planned insurance package is waiting to reimburse investors. It also offers long-term financial security bringing financial rewards for a long time to investors.
Wealth Generation and Steady Income
One important benefit of real estate investment is the ability to generate wealth within a short period – while it equally provide a basis for the future depending on the level of investments. You will be surprised by how much the price of an apartment will increase within a period of 5-years.
Beyond, how well some houses can appreciate depending on the location, land also appreciates leading to an increase in value and this means more money for investors. Also, all other realtors adventure can appreciate but it all depend on how well they are been managed
In fact, the real estate investment can also provide a steady source of income either weekly, monthly or yearly depending on the adopted mode of payment you felt will be good for your investment as an investor.
Less Fluctuation
Unlike other investments like the stock market, real estate investment hardly fluctuates. I can think of hardly any reason -bar natural disaster, why the real estate investment market will fluctuate.
It is surely a stable source of income and as an athlete that have raked so many cash, you don’t have to worry about market price crashes. But it would be wise to start right on during your cash flowing career, so as to build a giant network before retiring.
Inflation
Real estate investment is the perfect investment to protect your wealth from global price inflation, as it hedges against inflation. Though, with inflation, the cost of living goes up and while you don really feel it during hailing career days, having to be cash strapped and you’ve long retire can be so debilitating.
However, with this immense benefit that comes to real estate investors, it is a means to increase the value of their properties.
Inflation also means the cost of living leads to an increase in house rents and only house owners benefit from this. Therefore, the real estate protects investors from the brunt of inflation, provided the athletes invest wise and well
Tax Benefits
In some countries, real estate investors get special tax exemptions. This is an important reason why you should put your money on real estate investment.
Rental income is not subject to self-employment tax and the government offers tax breaks for property depreciation, insurance, maintenance repairs, travel expenses, legal fees, and property taxes. Real estate investors also have the benefits of enjoying lower tax rates for their long-term investments.
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