Former Springbok, Bryan Habana, was recently interviewed by 702’s Bruce Whitfield, opening up about his financial life – including investments.
Habana – who officially retired from rugby at the end of last year – spoke about his financial habits, how a rugby player prepares for retirement, and his saving habits.
One stand out section of the interview focused on some of the best and worst investments he has made over his career.
Habana noted that he was fortunate growing up in that he had access to a good education and received sound financial advice from the people around him.
However, he acknowledged that he had still made some money mistakes.
“I will be the first to admit that I have made some pretty stupid investments throughout my career,” he said.
“Buying pieces of land in development that went bankrupt etc. I think as a professional sportsman you are an easy target because people see you as having large sums of money readily available”.
He added that it wasn’t the best financial decision to buy a four-bedroom house in Pretoria while living alone for five years as the money could have been used better.
“Not only did I not manage to pay off much of the interest over the first six years but a lot of the money I saved up wasn’t used correctly.”
Habana also said that he had one vice in that he had an ‘addiction’ in trying to buy the latest Adidas shoes.
While the above poor investments may stand out, it is clear that Habana has been mostly responsible with his money during his rugby career.
He added that the ‘best thing he has ever done’ with his money was investing a lot of his money in a pension fund that was specifically suited for rugby players.
“(The fund) then got paid out at 32/33 years old,” he said.
“Obviously, it was an amount of money that was coming off before tax so it wasn’t really affecting me and it was only eight or nine years later that I saw its advantages.”
You can listen to the full interview on 702’s website here.