KEY POINTS
- Preparing for the Olympic Games can require a significant time commitment, although athletes may not always receive a full-time salary for their efforts.
- A lot of athletes utilize social media and other additional sources of income to earn some extra money.
- If you are finding it difficult to manage your bills, you can gain valuable insights from these top athletes.
As another edition of the Olympic Games draws to a close, the hosting duties have transitioned from Paris to Los Angeles. Throughout the competition, spectators have witnessed remarkable and awe-inspiring displays of athleticism.
The Olympians, who have been the main focus on our screens recently, are now heading back to their regular lives. This involves getting back to training and, for some, taking on additional jobs to earn extra income. budgets .
Dedication is essential for athletes preparing to participate in the Olympics. Many athletes consider it a commitment that requires more time and effort than a typical full-time job, despite the fact that they are not usually well-compensated for their efforts. In the past, Olympic competitors were prohibited from being professional athletes; however, this rule was altered in the 1980s.
Currently, Olympic athletes are just as resourceful as everyday individuals in seeking additional sources of income. Here are a few examples of inspiring side jobs pursued by athletes.
Contents
The female rugby sevens player has amassed a following of more than 3.6 million on Instagram and 2.3 million on TikTok. Initially, she utilized social media to raise awareness about women’s rugby, but it eventually evolved into a means of generating income. As reported by The Guardian, she has secured partnerships with various brands such as Secret, L’Oréal, and New Era. Adding to that, her engaging posts touch upon subjects like femininity and body positivity with a lighthearted and humorous approach.
Lessons that can be gained: You do not need to be a professional athlete to create a successful social media presence. Consider what your area of expertise is – preferably something that is of interest to others, while still reflecting your interests and personality.
However, not everyone can become a social media influencer. If you have expertise or experience in marketing, you could make additional money by assisting others in handling their social media profiles.
Noah Lyles is known as both a rapper on Spotify and an investor in real estate.
Noah Lyles, the quickest man in the world, earns money from sponsorships, including his partnership with Adidas. He has put some of his earnings into property investments, as reported by Essentially Sports. Additionally, he is a music artist on Spotify.
Lessons we can take away: If you possess money, you have the option to invest it in order to generate a passive income. This could involve investing in properties, but there are also other possibilities. start a brokerage account Invest your money in the stock market to generate returns.
Maggie Steffens: Water polo player’s additional venture
The Olympic champion in water polo, who has won three gold medals, recently discussed on Instagram the financial difficulties that she and her fellow athletes encounter. She mentioned that many of her teammates have professions such as teachers, business owners, coaches, physician assistants, and more besides being exceptional athletes. She pointed out that it may be surprising to some, but the majority of Olympians require a second or even third job to sustain their pursuit of their athletic dreams, including herself.
In addition to other additional income opportunities, Steffens helped start a business named 6-8 Sports, which utilizes sophisticated data analysis to assist up-and-coming athletes in identifying their areas of excellence and areas needing improvement.
Lessons to take away: Steffens leveraged her achievements in water polo to establish a business in the same field. This applies to various types of additional income opportunities. For example, if you have a strong interest in running, you are well-positioned to identify the products and services that fellow runners may be interested in. Similarly, if you have a background in graphic design, you could explore starting a side business creating logos or assisting firms with enhancing their visual presentations.
Maher, Lyles, and Steffens are not the only ones in this situation. Daniella Ramirez, who won a silver medal in artistic swimming, mentioned to the BBC that she receives financial support from the United States Olympic Committee, which she complements with earnings from her social media activities. Additionally, Morelle McCane, a boxer, took on various part-time jobs such as working as a birthday party clown and in a mailroom to finance her athletic pursuits, as reported by Euronews.
Bottom line
Becoming an Olympic athlete requires determination, regardless of whether one wins a medal. However, in the face of increasing living expenses and economic instability, maintaining financial stability also demands a great deal of determination for most people. A key lesson we can take from these athletes is the importance of being resourceful and persistent in finding additional sources of income.
If you are having trouble making enough money to cover expenses or facing difficulties in meeting your financial obligations. your savings If you have financial objectives to achieve, getting a second job could be beneficial. For instance, Ilona Maher manages to balance training, improving her sport, and spending up to six hours daily on her social media platforms. This shows that putting in additional effort might be worthwhile for everyone.
