Personal Finance
40% of Former Premier League Players go Bankrupt After Retirement: Here Are the Personal Finance Lessons to Takeaway
By Seedly  •  June 18, 2020
The Premier League is back! After about three months of no football due to the COVID-19 outbreak, the Premier League restarted today with a game between Aston Villa and Sheffield United and the game between Manchester City and Arsenal. I for one am most excited to see my favourite team Manchester United back in action as live sports again is such a relief. Hopefully, the virus will be kept at bay and the fans, managers and players will be safe during this difficult time. Speaking of players, I came across an article on the Guardian that stated that 500 former Premier League players are estimated to have lost £1 billion (S$1.75 billion) to bad investments and to tax demands from Her Majesty’s Revenue Collection as well after they invested in schemes that were touted as tax efficient. Another shocking statistic from the article came from a 2014 report by XPro, a charity that helps former UK professional players adjust to life after football....
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By Seedly
Launched in 2016, Seedly helps users make smarter financial decisions with its budgeting app which allows its 40,000 users to sync up their financial accounts and better manage their cash-flow. Last year, we introduced a new community feature which allows users to crowdsource knowledge from peers before making a financial decision.
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