Financial Literacy Content Areas for Professional Athletes: Evidence From a Qualitative Study
| Autor: | Jaco Moolman |
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| Rok vydání: | 2023 |
| Předmět: | |
| Zdroj: | Journal of Financial Counseling and Planning. 34:112-126 |
| ISSN: | 1947-7910 1052-3073 |
| DOI: | 10.1891/jfcp-2021-0073 |
| Popis: | Many people spend their working lives accumulating financial resources to sustain them once they retire, which is usually in their early to mid-60s. However, the working lives of professional athletes are unique, with finite sports careers and a range of possible challenges during the transitional phase after their sports careers have ended. This study shows an illustrative framework for financial literacy content areas required by professional athletes to achieve long-term financial well-being. Actor–network theory guided the completion of 27 semistructured face-to-face interviews as well as 10 structured follow-up interviews conducted in South Africa among networks of rugby and cricket players to develop and validate the framework. The research findings suggest professional athletes should take responsibility for their financial planning and have the financial literacy skills to seek, interpret, and apply financial advice. The findings also provide some considerations for education initiatives to improve the financial literacy of professional athletes. The results of this study have implications for professional athletes as well as financial planners, educators, and others positioned to potentially influence the professional athletes’ financial decisions. |
| Databáze: | OpenAIRE |
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