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Financial Fitness

Achieving Financial Independence for Professional athletes

Achieving Financial Independence for Professional athletes. In the world of sports, achieving financial independence is a crucial goal for professional athletes. Professional sports provide a unique opportunity for athletes to excel in their chosen field and achieve financial success at a young age. However, it is crucial for these sportsmen and women to understand how to manage their finances effectively…
David Gregory
June 20, 2023
Financial Fitness

Difference between Playing and Commercial Income in football

Understanding the Difference Between Playing and Commercial Income in Football. This article aims to provide a comprehensive understanding of the difference between playing and commercial income in UK football, with a focus on image rights. It explores the legal structures, tax considerations, and the potential benefits of setting up image rights companies (IRCs) for footballers. In the realm of professional…
David Gregory
June 19, 2023
Financial Fitness

How to safeguard Athletes Income

How to safeguard Athletes Income. For professional athletes in the UK, safeguarding Athletes' income is crucial, especially considering the potential risks associated with their careers. Fortunately, there are several protection policies available to athletes that can provide financial security in case of career-ending events, injuries, or illnesses. This article will explore the importance of these policies and how athletes can…
David Gregory
June 16, 2023
Financial Fitness

How Professional Athletes Can Utilise Venture Capital Trusts

Professional athletes face unique financial challenges not just to do with the sport they play. This may include managing significant income, planning for an early retirement and sustaining the lifestyle they’ve become accustomed to. One effective strategy for these athletes to build a sustainable income stream, is to consider is utilising Venture Capital Trusts (VCT's). VCTs provide a tax-efficient investment…
David Gregory
June 13, 2023
Financial Fitness

Utilising Limited Company Structures for Racing Car Drivers

Professional racing car drivers in the UK can utilise limited company structures to manage their winnings and sponsorship income efficiently. By establishing a limited company, drivers can benefit from various tax advantages and have greater control over the distribution of their income. This article will outline the process of setting up a limited company and discuss the tax benefits associated…
David Gregory
June 9, 2023
Financial Fitness

Preparing for Early Retirement at Age 30: A Guide for Professional Athletes in the UK

Preparing for early retirement is crucial to ensure a smooth transition and financial security in the long run. Retirement at age 30 may seem unconventional, but for professional athletes, it is a reality they often face due to the physically demanding nature of their careers. Athletes can take specific steps to prepare for early retirement, including investing via regular contributions…
David Gregory
June 8, 2023
Financial Fitness

Financial Planning for Professional Sports Athletes: A Comprehensive Guide

Financial planning plays a crucial role in the lives of professional sports athletes, particularly those between the ages of 16 to 30. As they navigate their careers, athletes must ensure their wealth is effectively managed, considering various factors such as investment strategies, sponsorship income, retirement planning, tax planning, endorsements, and the use of limited companies to house image rights and…
David Gregory
June 7, 2023
Financial FitnessSporting Stories

Young Athlete – Big Dreams

What happens when you achieve your dreams both financially and personally but don’t know how to manage them? Young sportspeople have clear goals in sight from a very young age. The training and support provided to that young person to get them to professional level is all consuming. There is often little time to teach them how to manage their…
offpistewealth_4jrlfq
February 2, 2022
Financial FitnessTop Tips and Tools

Four financial tips for sports professionals

As someone who was myself a semi-professional ice-hockey player and snowboarder, I can relate directly to the challenges faced by professional sportspeople: the weekly pressure to perform, the intensity of the training, and the delicate balance between sport and family/social life. For those who are fully-fledged professional sports people, there’s obviously an even higher level of intensity.  To some extent,…
offpistewealth_4jrlfq
January 21, 2022
Financial FitnessTop Tips and Tools

How to ensure the ‘core strength’ of your financial plan

While every one of Off-Piste Wealth’s clients has unique priorities, challenges and aspiration, we often kickstart any relationship in a similar way. After all, our priority is always to make sure your finances are really working for you. Typically we start by uncovering what is most important to you, what you envisage your life looking like at various points in…
offpistewealth_4jrlfq
January 21, 2022
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