FOR international rugby player, Manoa Vosawai, the concept of saving had been imprinted in his mind by his parents from a young age and has remained with him ever since.
The Welsh Cadiff Blues club player has been putting into practice the lessons taught by his father, Epi Vosawai, by investing his money earned during his earlier rugby careers in shares, the stock market and bonds. Vosawai has even bought himself a cattle farm.
Last month, Vosawai invested a significant sum with the Fiji National Provident Fund through the fund’s voluntary scheme. This makes him one of the few international rugby players to take advantage of this investment opportunity in retirement savings.
“I am very conscious of the fact, that one day I will retire not only from playing professional rugby but also from the hectic schedule of my productive life,” Vosawai said.
The former Italian No 8’s decision to become a voluntary member was driven by his plan to retire from professional rugby in four years’ time and return to Fiji.
“I’m basically not putting all my eggs in one basket and FNPF is a good basket that I’m sure is going to earn my investments good returns,” he said.
“With FNPF, all you have to do is register as a member keep contributing until you reach 55 then collect.
“Last financial year, FNPF credited members’ accounts an interest of 5.75 per cent which is a huge return and in the years to come, there’s always a possibility for the interest rate to increase. So for those who have invested in FNPF, you have made the right decision,” Vosawai said.
“For me, I’m quite pleased with my decision to become a voluntary member of FNPF and knowing that when I return home, I have enough money to assist me until I am old.”
Vosawai said information he had read in the media on FNPF’s strong investment portfolio “FNPF’s $220m boost” sealed his decision to invest with the fund.
Last week, the FNPF board declared a 6 per cent interest which will result in the distribution of about $224.8 million to its members.
Vosawai’s deepest hope and something he works very hard towards is, not only to be a star on the rugby field but to be a good role model to the children of Nabaitavo in Naitasiri where he is originally from. In addition to the children from his village, Vosawai also wants to make an impact on those planning to make rugby a career.
“I want to be a positive role model to young people,” he said.
“As a rugby player, my career is dependent on my physique and in a few years’ time, I will no longer be making the ‘big bucks’ that my time in top level rugby has afforded me so this is the right time for me to save for the future.
“Young people intending to make rugby career need to know and understand that rugby as a career is short — if they’re lucky, 15 years — and after that they will still have enough money to assist them once their rugby career comes to an end.
“I would advise young people who are pursuing a career in being a professional sportsperson to also look at other ways of earning money, whether it be investment or starting a business. Especially for us rugby players, we need to be smart with our money and ensure that we don’t fall into a dark place like how some other professional rugby players have,” Vosawai said.
