In the demanding high-stakes world of college athletics, coaches and Athletic Directors often find themselves laser-focused on the daily grind of recruiting, developing game strategies, and running their team or department.
But what about their own personal playbook for financial security as they maneuver through the ups and downs of the typical college career? Hillary London, a former college lacrosse coach who is now a seasoned financial planner with years of experience guiding mid-career professionals through life’s financial complexities, emphasizes that for those in their mid-30s to mid-50s, it’s far from too late to build a solid plan for themselves and their family.
The key, as she talked in detail about with college coaches and AD’s previously, is taking a detailed look at their personal financial plan outside of the normal retirement account offered by their college or university – something that many who are in the 30-50 age bracket tend to ignore as their personal and professional life gets busier and busier.
For many college coaches juggling demanding schedules, family responsibilities, and career pressures, the idea of financial planning that pays off years in advance can feel daunting, and also is the easiest thing to push to the back of a priority list. Especially if a professional hasn’t laid out a detailed roadmap yet, which seldom happens at the typical college. London says that change is always possible, no matter the starting point.
“Life is evolving rapidly for this demographic of professionals who work on a college campus,” she notes, “and as with any financial strategy, the sooner you begin, the better the outcomes.”
Her first priority? Establishing a clear plan to achieve personal goals. London stresses that a customized approach ensures coaches aren’t just reacting to expenses, but proactively building toward their vision of what kind of savings and security they want as they move through their college careers.
Second, for those who are approaching their early to mid-50s, she advocates a deep dive into retirement contributions. “With the coaches and AD’s we work with, we always take a hard look at maximizing everything available,” London explains, “to position you for your desired retirement age – and I always aim to help clients to be in a position to retire sooner rather than later.” London goes on to say that this could mean optimizing employer-sponsored plans, catch-up contributions, or tax-advantaged accounts often overlooked in the hustle of coaching seasons.
Finally, she encourages viewing planning as an ongoing partnership with someone you trust. “It’s not a one-time event,” she says. “I’m always in touch to help the clients I work with to adapt as life changes, ensuring your strategy evolves with you.” For coaches and athletic directors who haven’t yet engaged a professional outside of their college, London’s message is clear:
Taking these steps now can transform uncertainty into confidence.
The challenge, of course, is that college coaches in this age bracket face a common primary hurdle of being “in the thick of it” – whether that’s raising kids during peak earning years, navigating a home purchase amid rising interest rates, or stepping up to care for aging parents.
“There’s a lot of life hitting at once,” she observes, “and it’s easy to feel overwhelmed.”
Yet, she points out that a skilled planner serves as more than a numbers expert; they’re a comprehensive life resource. London’s clients benefit from personalized resource lists tailored to a coach’s location, connecting them with trusted professionals for everything from family planning lawyers to reliable contractors for home renovations. “I build a network of dependable contacts,” she shares, “so if you need a great painter or help with estate planning, I’m happy to facilitate that connection.”
This holistic approach, through the eyes of a former college coach who understands the demands and lifestyle challenges of someone in the job, demystifies planning and turns it into an empowering tool. For coaches and athletic directors accustomed to leading teams, having a financial ally in their corner can alleviate the burden, allowing them to focus on what they do best while securing their family’s future.
One of the most eye-opening aspects London addresses with the new coaches and athletic directors that she begins work with is the prevalence of under-insurance among midlifers. Many assume their life insurance covers the bases, thinking, “If I die, my family will be fine – the house will be paid off.” But as London poignantly asks, “What happens if you don’t die?”
This is where gaps often appear, particularly in protecting income against illness or injury.
She highlights disability insurance as a critical, yet underutilized, safeguard. “No financial plan works without income protection,” London warns. Imagine sidelining yourself for six to nine months due to health issues while still managing household finances…disability coverage ensures stability during such times. For coaches whose careers involve physical demands or high stress, this is especially relevant.
Following that, London prioritizes building an emergency savings fund, recommending at least three months’ worth of expenses. “There’s a reason for this minimum,” she explains. “It provides a buffer against unexpected events, like medical emergencies or job transitions, preventing the need to dip into retirement savings or accrue debt.” She urges education on this topic, noting that understanding the “why” behind it v- such as maintaining financial independence and reducing stress – motivates action.
For those unaware of these options, London reveals that many affordable policies and strategies exist to bridge these gaps, often integrated seamlessly into broader plans. Her goal? Ensuring clients are secure “no matter what,” both now and in the long term.
Hillary London’s insights as a former college coach turned financial planning advisor underscore a vital truth for college coaches and administrators: Financial planning isn’t just about money – it’s about reclaiming control over your life in the middle of your busy professional career.
If you’re ready to explore how these strategies apply to your situation, London invites you to reach out for a no-obligation conversation. Contact her here to start crafting a plan that supports your coaching legacy and personal aspirations. Her advice is free, and she is helping coaches create additional financial security for themselves and their families.