The 2024 Olympic Games are just around the corner and, with that, some athletes will be putting their competitive careers to bed for good. That includes Olympic and Paralympic gold medalists who have signed on to a new support plan for retiring athletes. The plan, financed by a $100 million donation from philanthropist Ross Stevens, gives Team USA Olympians or Paralympians $100,000 over a four-year period following their retirement from competition. It also allows athletes’ families or beneficiaries to receive another six-figure payment upon death.

The transition from competing at a high level to hanging up your athletic spikes can be a tough one, especially if you do it in the prime of your career. For most athletes, that means racking up thousands of dollars in training expenses while forgoing a steady paycheck. And while it is normal for “regular” people to retire in their 60s or 70s, elite athletes face that milestone at a much younger age.

Two-time Women’s World Cup champion and former Olympic gold medalist Alex Morgan hung up her competition spikes Thursday, citing the desire to spend more time with her young family as a major reason behind her decision. The 35-year-old forward also cited the influence of soccer legends Mia Hamm and Abby Wambach, whom Morgan described as being like big sisters to her early on.

Other athletes who are hanging up their cleats in the coming weeks include super bowl hero Nick Foles and NFL defensive back Tyrann Mathieu, who will be coaching for the Buffalo Bills after 12 seasons with the Saints and Texans. For both of these athletes, and many others in similar situations, finding the right time to retire is key.