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Workplace Retirement Plans for Pro Athletes You might not think pro athletes earning millions would have to worry about the risk of outliving their retirement savings. But when you consider their retirement could conceivably stretch 50 years or more, that risk isn’t so far-fetched. Even with the most popular major sports leagues offering such benefits as pensions and 401(k) plans with employer matches, an athlete’s relatively short career could make it hard to save adequately using those plans alone. “They’re not going to be able to put away in qualified retirement plans enough money to live on,” says Andre Mirkine, [...]

For some Olympic athletes, a gold medal can be a golden goose, yielding millions of dollars in advertising contracts and spokesperson gigs. While not all winning athletes will get offered such profitable jobs, ones who do should think carefully before putting their face and name on a brand. “Time is of the essence. Athletes who have just won the gold need to move quickly if they want to land a gig with a major brand,” says  Chris Cakebread, professor of advertising at the College of Communication at Boston University. He explains American viewers have “short memories,” and that athletes should [...]