Many may ask this question after they have completed a working journey in their life. What do I do now? How will I sustain my livelihood? Have I saved enough money so that I don’t have to return to a work environment? What is another passion of mine that I will like to pursue? These are some of the questions many retirees have for themselves, whether a retired athlete, doctor, lawyer, hairstylist, etc, they all question what’s next in live and how to sustain for the future.
Retired NBA player from the Lakers, Kobe Bryant sat down with CNBC to talk and have some advice for retired athletes. In the interview most of the things Kobe shares can apply to anyone from any field. Kobe tells CNBC when asked:
CNBC: You saved your money you did well and then you invested. Any advice for a lot of athletes now who get paid and they seem broke in a couple of years?
Kobe: Well because see here is the problem. Once you retire you don’t have that source of income that’s coming in right? So even if you save over a fifteen year career, your spending habits remain the same, eventually that well is going to run dry. Right? So unfortunately for us athletes the retirement age is thirty-two, thirty-four, if you are lucky thirty-seven like myself. What comes next? The question needs to be, what comes next? What can I do? What is my passion? Not where can I create the most value or generate the most revenue but what is my next passion? When you find that next passion everything else will make sense. But that’s the hardest part for us.
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