McCarthy was speaking at the Nedbank Football Financial Summit held in Sandton on Thursday, after he was announced as the new ambassador for the company's innovative project.
The Summit ties into the Nedbank Cup and what the financial institution hopes to achieve through their long-standing relationship with football in the country, given the sad state of many former players who struggle to deal with life after football.
McCarthy, who is renowned for having carried the South African flag to the highest stages during his illustrious career, has since detailed why he took on his new role while also issuing a plea to current and future generations of local footballers.
"As somebody that has succeeded on the football field and also off the field, I want to be able to give back and do the same for this generation of our players that seem to struggle with off-the-field antics," said McCarthy.
"Their lives either get cut short and before we know it the talent is gone or they end up looking for odd opportunities and handouts based off their talent while they were playing.
"This is because they did not get the right advice or were allowed the platforms to talk about problems and difficulties that we face in our lives – it wasn't offered to everyone.
"Now Nedbank is doing that, so I wish that players are a bit more open-minded about listening when elders or people that have been in that situation tell you something.
"You never know enough to say that you don't need this kind of advice or help, so yeah, it is here to promote our football but it's also to guide our current and young, future footballers to manage their lifestyles and securing better lives for themselves now, rather than later."