Athletes, safeguard your future!
THE 2019 IAAF World Championships in Doha, Qatar, was a success for Jamaica, and the athletes who competed gave a good account of themselves. Now that the championships have been completed, it is time for athletes and officials to get some much-needed rest while others who were not at the event have started on their Tokyo 2020 journey.
There are several high points for Jamaica, and even for some athletes who did not medal, there were personal bests and opportunities to perform at the highest level. I want to congratulate all the members of Team Jamaica, especially the coaching staff, for a job well done. I hope that this is part of the continued building of our sporting success.
Earlier this week, I sat down with five-time Olympian and Member of Parliament (MP) Juliet CuthbertFlynn to discuss ‘The Business of Sport: My Story’ at the official launch of‘The Drive Phase Podcast’. There were several takeaways that I think are applicable to the current crop of athletes, and I am happy that some were in the audience to hear her advice.
RETIREMENT PLANNING
During the live studio audience recording, Cuthbert-Flynn said that athletes should start preparing for retirement while they are still competing. The suggestion is that athletes shouldn’t wait until they are very close to retirement but rather start as early as possible as injuries can force an early end to an athletic career. I have to agree with her. Several athletes who made it on the global stage now struggle to make ends meet or even survive on a daily basis. One of the suggestions CuthbertFlynn made included setting up pension funds early. She advised athletes to start discussing investment options such as property acquisition, bonds, mutual funds, etc., with financial advisers. She used examples of former athletes like herself, Juliet Campbell, and Merlene Ottey who started investing early and are able to survive years after hanging up their spikes.
Another important point made at the launch was the importance of athletes living within their means. This is something several of our athletes have struggled with. This is not unique to track and field athletes or athletes in Jamaica, but sports, globally, has had this challenge as many athletes are forced into bankruptcy or just squander the monies they earn on cars, parties, substance abuse, and simply bad decisions.
Another takeaway from my discussion with the MP is that athletes should not just stay away from banned substances but also educate themselves about the fight against doping in sports. This includes understanding the risks of taking prohibited substances or using prohibited methods in sport. I agree with Cuthbert-Flynn but also believe that despite the availability of educational resources, many of our athletes are drawn into a false sense of security that their coaches and support personnel are already in the know and believe whatever these persons say. I know many persons will say, “Well, that is their responsibility,” and I agree, but sometimes some coaches and athlete personnel may manipulate athletes, especially those who may be barely functionally literate. You can understand how they make some of the mistakes that they make by trusting the wrong person or the wrong process. Obviously, there are others who just made bad decisions.
INVESTING IN THEMSELVES
Like Cuthbert-Flynn and many other Jamaicans, I believe that our success in track and field can continue for a while. What I hope, though, is that more of our athletes will start seeing themselves as not just athletes competing for money, medals, and patriotism but as athletes who are willing to invest in themselves and be able to survive after retirement. However, it starts at the early stages of their career, so all the athletes who participated in Doha should be thinking about safeguarding their future and not just about spending whatever they have been earning throughout the season. At the end of the day, it could vanish in no time.
The future of Jamaican track and field is bright. Several of our athletes have already met the qualification standards for Tokyo 2020, with more to come. The latest edition of the IAAF rankings also shows several Jamaicans making improvements and currently listed in the top 10 of their disciplines. Let me congratulate them and hope that this is really part of building their legacy.