Steve Howard retired from professional football in 2013 after a career as a striker for Luton Town, Derby County, and Leicester City. He now advises current players on how to handle the monetary and psychological shift that comes when the paychecks stop.
The problem is bigger than most fans assume. A Premier League player earning six figures a month can face a near-total income cliff at age 33 or 34, with decades of life still ahead. The Professional Footballers' Association (PFA) has run financial education programmes for years, but the gap between what players earn and what they keep is often a matter of behaviour, not information. Howard's own path from dressing room to advisory work illustrates both the risks and the practical steps that can protect a player's wealth after the final match.
The income cliff that awaits most players
A professional footballer's earning window is short. Most peak in their mid-20s and are retired or out of the top leagues by their early 30s. During that window, wages can be high. A Championship player might earn several hundred thousand pounds a year. A Premier League regular can earn millions. But the income is concentrated into a decade or less, and it stops abruptly.
After retirement, a former player who has not built alternative income streams faces a steep drop. The mortgage, car payments, and lifestyle that the salary supported do not shrink at the same speed. Players who spent heavily during their careers often find themselves with large fixed costs and no salary to cover them. The PFA's education programmes aim to make players aware of this timeline early. The gap between awareness and action is where the trouble starts.
Common financial mistakes and the culture that enables them
The most common money errors among footballers are not exotic. They are the same ones that affect lottery winners: overspending, trusting the wrong people, and investing in ventures that look glamorous but have no business case. Restaurants, nightclubs, and car dealerships have swallowed large chunks of former athletes' savings.
The dressing-room culture amplifies the problem. Players compare cars, watches, holidays. A teammate who tries to save rather than spend can look out of step. That culture has shifted over the past two decades. Agents and clubs now push monetary literacy earlier. Some Premier League academies run basic budgeting sessions for teenagers. But the pressure to display wealth remains strong, and the people offering investment opportunities are often more sophisticated than the players they target. Howard's work involves helping players distinguish between a genuine business and a trap dressed as an opportunity.
Steve Howard's own transition and what he does now
Howard played more than 600 league matches across three decades. He retired at 37, later than many forwards, but the adjustment was still hard. The structure of training, travel, and matchday disappeared. The income stopped. He had to rebuild a daily routine and a professional identity from scratch.
He now works with current players to plan for that moment before it arrives. His advice focuses on practical steps: building a diversified portfolio of assets that generate income after football, avoiding debt that depends on future wages, and creating a post-football career plan years before retirement. He does not claim to have a perfect record. But his own experience of the transition gives him credibility that a traditional monetary adviser lacks. Players listen to someone who has been in the dressing room.
What works and what still does not
Early planning beats a big salary
The difference between those who thrive after football and those who lose everything is rarely about the size of the salary. It is about when the planning started. A player who begins saving and investing at 22, even modestly, is in a stronger position than one who starts at 30 after years of high spending.
The limits of education
The PFA's educational work has improved, but it cannot override personal discipline or the social pressure to spend. Howard's model, one former professional talking directly to current squad members, addresses the gap that a classroom session cannot close.
The pattern so far
The outcome for any individual depends on whether he acts on the advice before the income stops. As of 2025, the position since Howard's own retirement is not fully established here, but the pattern is clear: those who plan early fare better than those who do not.
Key facts
- Player: Steve Howard
- Position: Striker
- Clubs played for: Luton Town, Derby County, Leicester City
- Retirement year: 2013
- Current role: Advises current players on post-retirement financial planning
- Relevant body: Professional Footballers' Association (PFA)
