Story of Roma Joglekar a Gymnast and her Financial Decisions

Growing up, she always wanted to be a sportsperson but wasn’t very sure how to go about becoming one, or even which sport to play. It so happened that, worried about Roma being too underweight for her age, the family doctor recommended that she take up a sport to help build her strength and improve the quality of her diet and nutrition. After talking to a few people, her mother enrolled her in gymnastics which she had heard was an “upcoming sport.”

She started training with the gentleman who was to remain her coach for her entire career. It was a demanding schedule for a 12-year-old, what with having to juggle school and studies alongside gymnastics. It became even more grueling as she got better at the sport. There was a time when she was training for six hours a day: three hours in the morning before school, and three in the evening after. When she attended coaching camps, they would practice for eight hours, every day. Only her mother’s unstinting support and her coach’s help got her through.Her mother was constantly in her corner, making sure she had nutritious meals waiting for her when she got home from school. She ensured that Roma took power naps and woke refreshed and reached her practice sessions on time. She credits her parents, and especially her mother, as being her greatest champions, providing emotional and moral support throughout her career. Her coach too stood by her for the entire duration of her career.Looking back she remembers comparing her life with her friends’ and wonders if she missed out on a “normal childhood”. But she shakes that thought off because what she gained, the pride of representing her country in the international arena and winning, is much more than what she lost. The sense of pride and purpose, the accolades she won, are the result of the hours she spent on her passion, she says.

At a certain age, most sports persons in India realize that they need to change direction and look for an alternate source of livelihood. Their bodies are older and can no longer perform as well as before.

Many people get married and their families start growing. Their responsibilities increase- children, aging parents, home loans to pay off and other expenses to meet. O en people take up jobs to keep the home fires burning and continue with their sport part-time. “

No matter how talented you are, it’s not yet possible to be a full-time sportsperson in India.

Not like abroad where a promising player has the freedom to focus only on her sport, spending hours improving her technique and training. Indian sportspeople don’t have that option because there is no funding for sports and sportspersons. Some take up jobs related to the game they love - coaching, physiotherapy, or judging sports events. Others end up working in banks or in schools.Roma too realized that age was not on her side and that she’d have to find something else to focus her energies on. She had realized that she wouldn’t be able to make a living from gymnastics. She decided to train to become a physiotherapist specializing in sports-related injuries. She had won an award of ₹5 Lakhs at a competition, which she decided to use for her physiotherapy course.

Roma didn’t know that there’s something like sports insurance available. "Most sports persons are not aware either".

Gymnastics is a high-risk sport with a greater chance of injuries resulting from falls from various apparatus like the pommel horse, the parallel bars or the rings. She asserts that just as it should be mandatory for all sports teams and academies to have a sports medicine doctor and a physiotherapist on call at all times, so should there be special insurance for all gymnasts. She goes on to say that a gymnast may be the sole earning member of her family and a serious injury could have huge repercussions for everyone.

Roma avers that it is wiser to invest any prize money that a sportsperson gets.

The interest on that could help them continue with their sport or be useful in an emergency. She feels it’s essential to have an investment plan. She owns some FDs and RDs but wishes that there were better options available. She has only recently heard about Mutual Funds and plans to invest in some soon.Medical insurance is another financial product that she plans to buy soon because the steady rise in the cost of hospital stays and medical treatment has her concerned about the future. Medical insurance would give her a sense of security that she and her family are covered in case of any unforeseen illness.Roma has mixed feelings about loans. She’s practical enough to realize that they are often necessary to get certain dreams off the ground. She believes they only become a burden if not repaid on time. She wishes there was a “player-friendly” loan for people who’ve won medals and accolades for their country. Representing one’s nation abroad is no small matter and she feels that they should get some special benefit for all their hard work and effort. She plans to take a loan in a year or two, to start her own physiotherapy clinic, after she gets her degree.Roma dreams about travelling with the Indian gymnastics team, as their physiotherapist, when they represent India abroad. She wants to be there for the younger gymnasts, especially the ones who get injured. Perhaps this desire stems from the fact that she understands the unique challenges that a young gymnast faces, having been one herself. She recalls cases of promising young gymnasts injured and unable to perform because their injuries were not treated promptly. She’s so passionate about gymnastics and its future in the country that if money were no concern, “I would donate everything to my game so that they (the next generation of gymnasts) get everything that I didn’t get.” She dreams about earning enough and saving up so that one day she can travel the world. She smiles as she looks into the future and says, “My dream is to see every part of the world. Once I start my clinic, I plan to work hard the entire year, but come December, I’ll take off and travel the world.

The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.