Super Eagles defender Igoh Ogbu has emphasized the need for Nigerian footballers to develop good financial habits early in their careers. He warns that high earnings can leave players financially vulnerable if they fail to prepare for life after football. Ogbu, who plays for Slavia Prague, advises young players to prioritize saving and investing, regardless of their current earnings. This habit, he believes, will help them navigate the uncertainties of their careers.
In an interview with RG.org, Ogbu expressed concern that some footballers get carried away by their earnings and neglect to prepare for retirement. He notes that young players often wait until they secure lucrative contracts or join big European clubs before learning how to manage their money. Ogbu stresses that financial planning should begin early, even when players have limited earnings. This approach, he argues, will help them make the most of their money and ensure a smooth transition to life after football.
Ogbu challenges the mindset among young players that financial planning should begin only when they start earning substantial salaries. He believes that learning to invest and save when earnings are low will help players make better financial decisions when their earnings increase. Ogbu uses the analogy of a farmer saving seeds for the next season to illustrate the importance of preparing for the future. This mindset, he argues, will help footballers avoid financial difficulties when their careers end.
The concerns about professional footballers' preparedness for life after retirement are not limited to Nigeria. A 2021 survey by the global players' union, FIFPRO, found that 67 per cent of 282 active and retired footballers surveyed across 33 countries were unsure about their career paths after football. The survey also revealed that 54 per cent had received no assistance with planning for a second career. These findings highlight the need for footballers to prioritize financial planning and career development.
Research has also highlighted concerns about financial literacy among professional footballers in Africa. A 2023 study involving 300 professional footballers in Ghana's Premier League found low levels of financial literacy and poor financial behaviour among respondents. The researchers identified savings and investment habits as important factors in achieving financial well-being. These findings underscore the importance of Ogbu's advice to Nigerian footballers.
Former Super Eagles defender Ben Iroha offers a practical example of how preparation can shape life after football. Iroha began planning for retirement while he was still an active player. He identified Dallas, Texas, as the city where he wanted to settle and bought a house before retiring. Iroha eventually moved to Dallas with his family and established a spare parts and car business. His experience has informed his advice to current players to control their spending and invest in property and other businesses.
Ogbu's warning reflects wider concerns about professional footballers' preparedness for life after retirement. He advises players to be mindful of their spending habits and to prioritize saving and investing. With 87 appearances for Slavia Prague across all competitions, Ogbu has demonstrated his commitment to his career and his financial well-being. His advice serves as a reminder to Nigerian footballers of the importance of preparing for life after football.
Key points
- Super Eagles defender Igoh Ogbu advises Nigerian footballers to prioritize saving and investing early in their careers.
- A 2021 survey by FIFPRO found that 67 per cent of footballers were unsure about their career paths after football.
- Former Super Eagles defender Ben Iroha began planning for retirement while he was still an active player and established a successful business in Dallas, Texas.
