Friday 22 November, 2019

Cuthbert-Flynn urges athletes to invest while active

The Drive Phase Podcast host Dalton Myers shares lens with guest speaker Juliet Cuthbert-Flynn (left) and 2019 IAAF World Championship bronze medallist Rushell Clayton at the launch of The Drive Phase Podcast at the University of the West Indies, Mona, Library on Wednesday, October 9.

The Drive Phase Podcast host Dalton Myers shares lens with guest speaker Juliet Cuthbert-Flynn (left) and 2019 IAAF World Championship bronze medallist Rushell Clayton at the launch of The Drive Phase Podcast at the University of the West Indies, Mona, Library on Wednesday, October 9.

Olympian Juliet Cuthbert-Flynn is encouraging athletes to learn about financial literacy early in their career to prepare themselves for life after athletics.

Speaking at the launch of the Drive Phase Podcast last week, the World Championship and Olympic medallist urged athletes to consider their future while at the heights of their career.

“You make some serious money in track and field through appearance fees but it is really how you balance because an injury can ruin your finances. You can be out for a long time so you have to keep that in mind. I also calculated, if I can’t run tomorrow, can I afford my mortgage if I get a 9 to 5 tomorrow and that’s how I made my financial decisions,” she explained.

Cuthbert-Flynn, who is also Member of Parliament for West Rural St Andrew, said athletes should identify financial instruments that they can invest in while at their peak.  

“The money is fast and quick, but you can also lose it fast and quick.  During my time, we didn’t have the major contracts so athletes at the time had to save. A lot of us learned to put our money away and invest, we would learn about stocks, and bonds, mutual funds. We also started looking about retirement and a pension fund because your time in track and field doesn’t last a lifetime,” she added.

According to Cuthbert-Flynn, due to her focus on being fiscally responsible while an active athlete, she was able to begin her entrepreneurial pursuit, debt-free, as the owner of Life Fit Training Centre.

“The money I saved helped me to start my own business so I bought my equipment for my gym with cash,” she said.

The Drive Phase, which is hosted by sports administrator Dalton Myers, is one of the first of its kind in the Caribbean which allows regional sports enthusiasts the opportunity to have greater insight into sports in the region, as well as international issues and trends affecting or contributing to the Caribbean sporting Industry.

Get the latest local and international news straight to your mobile phone for free: