Foley played 154 games with Richmond in a career spanning 12 years. Foley enjoyed standout seasons from 2007 to 2009, before injuries cruelled his career.
“To the young blokes in the room, be in a hurry to succeed,” Foley said on Thursday.
“It does go quick and it can end abruptly, so always make the most of your opportunities.
“I’ve got no doubt that with hard work and a steely resolve you guys can achieve something huge.
“The time is now though, and I love the quote ‘Ivvy’ (Ivan Maric) uses around the stoppages – ‘shop early and beat the rush’. I think that applies to careers as well.”