Business
Our sports and media podcast series hosted by Peter Fairchild our tax partner and head of our sports, media and entertainment group and Ed Duah, former football player and now football adviser, will provide you with information on various topics that will affect sports and media professionals in all stages of their career, including Insurance, image rights, legal matters, tax liability, wealth planning, and preparing for life after sport or entertainment.Unlike other professions, the sports, media and entertainment industry is volatile, with sports professionals in particular facing a limited earning capacity due to the average length of their career, compared to those who will work for a longer period of time. For example a professional footballer may have a maximum of 10 years at the height of their career, compared to an office worker who can work into their 60’s earning a steady income. An office worker could have a couple of difficult years with their financial planning and it wouldn’t make too much difference to their finances in retirement. Whereas for the sports professional, any gaps in their 10 year career, or poor financial planning during the high earning years, could make a huge difference to their retirement plan.The main focus of this series is designed to stress the importance of having the right plan and structure in place early on, understanding your earning capacity and what you should be doing with your money, especially at a young age when vast amounts of money could be coming in and the idea of retirement feels like a long way away. It’s vital to work closely with trusted professional advisers who can make sure you prepare for life now and in the future, and who can ensure your money will work hard for you during and after your career. For more information on how we can help, head to our website: https://smithandwilliamson.com/en/industries/sports-media-and-entertainment-professionals/?utm_source=simplecast&utm_medium=podcast&utm_campaign=thepulse