Boxing / Alsy / 13 November 2008 / Leave a comment

In these times of economic instability, it's more important than ever to make plans for retirement, says Alister Morgan as he discusses the options open to sports stars when they reach the end of their playing days.

With a winning smile and an attractive personality, athletes can attract a huge public following. If they contrive to win a few baubles at their chosen sport then all the better - your fans will buy your biography when you retire and vote for you if you make it on to Strictly Come Dancing. At times like these, retirement plans are important.

The obvious choice for retired athletes is a career as a television presenter, especially if you're fronting a sports show. Bob Wilson managed to put the shame of an Arsenal football career behind him by reinventing himself as a top-notch sports anchor. Many others followed but it's more entertaining to list the less accomplished rather than laud Sue Barker and Gary Lineker. The two Jimmys, Hill and Greaves respectively, were definitely an acquired taste while recalling Les Ferdinand's solitary attempt to front ITV's football coverage still makes me cringe.

Regardless, if you're successful in sport then someone, somewhere will let you host a TV show - even David Ike managed to balance a career on TV alongside other duties as a messiah. If you want a career as a sports commentator than there's even more work available. Ex-international footballer? Plenty of stations need talking heads but remember that the Match of the Day couch is generally reserved for ex-Liverpool and Arsenal pros. If, however, you were once an international star then you can earn much, much more grading the performances of current players.

John McEnroe and Boris Becker are always in demand as the ATP navigates the globe. Both are used to being in front of the cameras. Players learn how to deal with a press core and, over time, become more proficient at delivering sound bites to pacify an insatiable media. Ex-pros can combine media savvy with a deep appreciation of professional sports.

Ex-athletes certainly like cameras but for Eric Cantona, "Marvellous" Marvin Hagler and Vinnie Jones, a larger screen was required for their over-inflated egos. Oscar nominations have not been forthcoming so far but, unlike the world of sport, in the movie business taking part is definitely more important than winning prizes.

Other retirement careers include a myriad of charity work or business opportunities. Jack Nicklaus has a thriving business empire while ex-rugby union pros can always rely upon a job in the city courtesy of public school chums. Ex-athletes can become TV Gladiators like Dwayne Ladejo (finally able to give members of the public a good beating) or provide motivational speaking services like Olympic medallist Kriss Akabusi.

Seb Coe chose a path rarely travelled. He ran for Team GB, retired and became a Conservative MP. In the US plenty of athletes migrate into politics, usually as Republicans. In truth, the majority of athletes fade into obscurity when forced to give up their chosen sport. The rewards that many professional athletes can command may seem excessive but they're certainly not easy to access even when an entire childhood has been dedicated to the craft. Although, in the main, professional sport prepares you for little else than professional sport, a successful career provides financial breathing space whilst deciding what to do next.

A select few manage to translate sporting successes to "real" world scenarios. Perhaps we, the adoring public, make it easy or perhaps these individuals are simply winners in any walk of life? George Foreman won the world heavyweight title more than once and retired three times but eventually made more money from post-boxing investments than in all his years in the ring. When David Beckham hangs up his boots expect him to emulate the best retirement strategy of all and create his own lean, mean fat-reducing grilling machine. Naturally endorsed by his ever-slim wife.