When Kyle Lowry retirement news broke recently, it wasn’t just another NBA player hanging up his sneakers—it was a masterclass in how to plan a meaningful career transition. The six-time All-Star’s decision to sign with the Toronto Raptors specifically to announce his retirement demonstrates something we financial advisors preach constantly: the importance of ending your career on your own terms, in the place that matters most to you.
Whether you’re approaching retirement from corporate America or wrapping up decades in your chosen profession, Lowry’s strategic approach offers valuable lessons about timing, legacy planning, and the emotional aspects of retirement that often get overlooked in traditional financial planning discussions.
The Strategic Timing of Kyle Lowry’s Retirement Decision
What makes the Kyle Lowry retirement news particularly interesting from a financial planning perspective is the intentionality behind it. Rather than simply fading away or making an unceremonious exit, Lowry chose to return to Toronto—the city where he achieved his greatest professional success—to formally close this chapter of his life.
This mirrors what I tell my clients about retirement timing: it’s not just about when you can afford to stop working, but about when and how you want to transition into your next life phase. Lowry, at 38, had the financial security to make this choice on his terms rather than being forced out due to declining performance or injury.
Financial Security Enables Choice
Throughout his 18-year NBA career, Lowry earned over $200 million in salary alone, not including endorsement deals and investments. This level of financial security—while obviously not achievable for most of us—illustrates an important principle: having enough saved gives you control over your retirement timing and circumstances.
For the average pre-retiree, this means building what I call “retirement confidence”—knowing you have enough saved not just to survive, but to retire with dignity and choice. The magic number varies for everyone, but the peace of mind it provides is universal.
Legacy Planning Beyond the Numbers
The Kyle Lowry retirement news reveals another crucial aspect of smart retirement planning: thinking beyond just financial security to consider your legacy and the relationships that matter most. Lowry’s choice to retire as a Raptor wasn’t about money—it was about honoring the place and people who defined his peak years.
In retirement planning, we often get so focused on 401(k) balances and Social Security optimization that we forget to plan for the emotional and social aspects of this transition. Where do you want to spend your retirement? What relationships do you want to nurture? What legacy do you want to leave?
“Retirement isn’t just about having enough money—it’s about having a sense of purpose and connection that carries you through the next 20 or 30 years.”
— Sarah Chen, Certified Financial Planner
The Importance of Place in Retirement
Lowry’s decision to retire in Toronto, rather than Miami where he finished his career, speaks to something many retirees struggle with: where to call home. For many pre-retirees, this involves deciding whether to stay in their current high-cost area, move to a tax-friendly state, or relocate to be closer to family.
This decision has massive financial implications. State tax policy on retirement income can significantly impact your spending power, but don’t let tax considerations override quality of life factors completely.
Learning from Professional Athletes’ Retirement Challenges
While the Kyle Lowry retirement news appears to be a positive story, the reality is that many professional athletes struggle significantly with retirement transitions. The same challenges that affect athletes often mirror what civilian retirees experience: loss of identity, social isolation, and difficulty finding new purpose.
According to research from the Employee Benefit Research Institute, nearly 25% of retirees experience some form of depression in their first year of retirement. The sudden loss of daily structure, professional identity, and regular social interaction can be devastating.
Preparing for the Identity Shift
Just as Lowry built his identity around being a point guard and team leader, many of us define ourselves by our careers. “I’m an engineer,” “I’m a teacher,” “I’m a sales manager”—but who are you when that title disappears?
Start thinking about this transition years before you retire. What activities, relationships, or causes could provide meaning and structure? Many successful retirees tell me they wish they’d started developing these interests earlier. You don’t want to retire into a void.
The Financial Reality of Early vs. Traditional Retirement
While we can’t all retire at 38 like Kyle Lowry, his situation highlights important questions about early retirement that many high earners grapple with. Can you afford to retire before traditional retirement age? Should you?
The math of early retirement is both simpler and more complex than most people think. You need more money saved because you’ll have more years to fund and fewer years to save. But you also need to bridge the gap until Social Security and Medicare kick in, which adds layers of complexity.
Healthcare Bridge Planning
One advantage professional athletes have is access to high-quality healthcare benefits that often extend into retirement. For the rest of us, healthcare costs between early retirement and Medicare eligibility at 65 can be substantial—often $15,000-25,000 annually for a couple.
If early retirement is your goal, factor these costs into your planning early. Consider maximizing Health Savings Account contributions if you have access to one, as HSAs become powerful retirement healthcare funding tools.
Lessons from Other Athletic Retirement Transitions
The Kyle Lowry retirement news reminds us of other athletes who’ve navigated this transition well—and some who haven’t. Compare this to other retirement decisions we’ve seen in professional sports, similar to discussions around LeBron James’ retirement timeline or Chris Paul’s potential retirement considerations.
The athletes who transition most successfully often share common traits: they’ve developed interests outside their sport, maintained strong family relationships, and most importantly, they’ve planned financially for a potentially 50-year retirement.
The Power of Phased Retirement
Some athletes transition gradually—moving from playing to coaching to broadcasting. This phased approach can work beautifully in traditional careers too. Maybe you reduce to part-time work, take on consulting projects, or explore a passion career.
Phased retirement isn’t just psychologically easier—it’s often financially smarter. You can delay claiming Social Security, let your investments grow longer, and reduce the risk of sequence-of-returns problems that can devastate early retirement portfolios.
Building Your Own Retirement Game Plan
So what can Kyle Lowry’s retirement strategy teach us about our own planning? First, that having options requires preparation. Second, that retirement is as much about relationships and meaning as it is about money. Third, that how you retire matters almost as much as when you retire.
Start by getting clear on your retirement vision. Not just the financial numbers, but the lifestyle, location, and legacy you want. Then work backward to create a plan that makes that vision possible.
Action Steps for Your Retirement Planning
- Calculate your true retirement needs, including healthcare and potential long-term care costs
- Develop interests and relationships outside of work now, while you’re still employed
- Consider where you want to spend retirement and research the financial implications
- Think about whether phased retirement might work better than an abrupt stop
- Plan for the emotional and social aspects of retirement, not just the financial ones
Remember, retirement planning isn’t just about accumulating a pile of money—it’s about creating the foundation for a fulfilling next chapter. Professional guidance can be invaluable, especially when considering complex decisions around career transition timing or navigating major life changes like those faced by public figures in other fields, from political retirement to athletic career transitions.
Frequently Asked Questions
Is Kyle Lowry retiring?
Yes, Kyle Lowry is retiring from professional basketball. He announced his decision to sign with the Toronto Raptors specifically to formally announce his retirement, ending his 18-year NBA career where he achieved his greatest success with the franchise.
What team is Kyle Lowry on in 2025?
Kyle Lowry signed with the Toronto Raptors for the purpose of announcing his retirement. This symbolic gesture allows him to retire as a member of the team where he spent his most successful years and won an NBA championship in 2019.
Who is retiring from the NBA in 2025?
Kyle Lowry has announced his retirement from the NBA in 2025. Other potential retirements are being discussed among veteran players, but Lowry’s announcement to retire as a Toronto Raptor has been the most definitive retirement news so far this year.
Will the Raptors retire Kyle Lowry’s jersey?
While not officially announced, Kyle Lowry is widely expected to have his number 7 jersey retired by the Toronto Raptors. As the franchise’s all-time leader in assists and three-pointers made, plus being a key player in their 2019 championship, he has certainly earned this honor.
Is number 6 banned in the NBA?
No, number 6 is not banned in the NBA. However, the league retired number 6 league-wide to honor Bill Russell after his passing in 2022. Players who were already wearing number 6 could continue to do so, but no new players can select this number.
Who got the first $100 million contract in the NBA?
Juwan Howard received the first $100 million contract in NBA history when he signed with the Washington Bullets in 1996. His seven-year, $105 million deal broke new ground for player salaries and changed the landscape of NBA contracts forever.
Is 69 illegal in the NBA?
No specific rule makes number 69 illegal in the NBA, but it’s generally not used due to its inappropriate connotations. The NBA has guidelines about maintaining appropriate standards, and teams typically avoid numbers that could be considered offensive or inappropriate.
How much is a 10 year NBA pension?
NBA players with 10 years of service become eligible for a substantial pension that can range from $56,000 to $195,000 annually depending on when they retire and their years of service. The pension is part of a comprehensive benefits package that includes healthcare and other retirement benefits.
Who is richer, Steph Curry or LeBron James?
LeBron James has a higher net worth than Stephen Curry, estimated at over $1 billion compared to Curry’s estimated $160 million. LeBron’s wealth comes from his longer career, substantial endorsement deals, media ventures, and business investments including his stake in various companies.
Do the Raptors have any jerseys retired?
The Toronto Raptors have not officially retired any individual player jerseys yet, making them one of the few NBA franchises without retired numbers. However, Kyle Lowry is widely considered the most likely candidate to become the first Raptor to receive this honor.
What happens if a jersey is retired?
When a jersey is retired, no future player on that team can wear that number. The jersey is typically displayed in the arena’s rafters during a special ceremony, and it represents the highest honor a franchise can give to a player for their contributions to the team and community.
What NBA team has no jerseys retired?
Several NBA teams have no jerseys officially retired, including the Toronto Raptors, Charlotte Hornets, and some of the newer franchises. The Raptors, despite being founded in 1995, have not yet retired any numbers, though Kyle Lowry’s number 7 is expected to be the first.
Why did Lowry leave the Raptors?
Kyle Lowry left the Raptors in 2021 via a sign-and-trade deal to join the Miami Heat. The departure was largely due to the Raptors’ rebuilding phase and salary cap considerations, though it was an amicable split with mutual respect between Lowry and the organization.
Your Next Steps in Retirement Planning
The Kyle Lowry retirement news serves as a powerful reminder that the best retirement transitions happen when you have both financial security and emotional preparation. Like Lowry choosing to return to Toronto to close his career properly, your retirement should reflect your values and priorities, not just your account balance.
If you’re approaching retirement or already deep into planning, consider working with a fee-only financial advisor who can help you navigate both the numbers and the non-financial aspects of this major life transition. Remember, you want to retire to something meaningful, not just away from work.
Disclaimer: This article provides educational information about retirement planning concepts. It is not personalized financial advice. Your situation is unique—please consult with qualified financial and tax professionals before making significant retirement decisions.