The news that big-name athletes are retiring comes with a lot of attention, and it’s usually followed by speculation of what they’ll do next. While it may seem easy for a celebrity to make the transition, it’s not always so for the average person. For athletes, retirement can be especially challenging as they go from a highly compensated and well-managed lifestyle to a more humble existence that often comes with less stability.
Whether it’s a football player hanging up his cleats or a golfer putting away the clubs, many athletes struggle in retirement. This can be attributed to the heightened mental and physical stress that retirement brings. The strain can be felt by those close to an athlete, including partners and parents. It can also come from outsiders who are no longer involved in an athlete’s career.
Some athletes, particularly those that are hard-working and success driven, may find it difficult to learn a new role in life, as well as adjusting to a changing physique. In some cases, these changes can lead to depression or a lack of motivation.
In an effort to assist those who are struggling, the United States Olympic Committee announced a program Wednesday backed by a $100 million gift from philanthropist Ross Stevens. The new program will provide athletes with $100,000 payments starting 20 years after the last Olympic Games they competed in, or at their 45th birthday, whichever is later. This will help with the financial burden of training for the Olympics.