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Getbig Main Boards => Gossip & Opinions => Topic started by: Gargamel on September 06, 2019, 12:49:54 PM

Title: If you win an Olympia are you financially set for life?
Post by: Gargamel on September 06, 2019, 12:49:54 PM
What I mean is can you live comfortably off your name selling Protein and training videos. Discounting stupid career decisions of course.
Title: Re: If you win an Olympia are you financially set for life?
Post by: dan18 on September 06, 2019, 12:54:04 PM
What I mean is can you live comfortably off your name selling Protein and training videos. Discounting stupid career decisions of course.
Just because you win doesn't mean anyone will use you to sell there snake oils they go with anyone who has a good reputation
Title: Re: If you win an Olympia are you financially set for life?
Post by: IronMagazine.com on September 06, 2019, 01:07:34 PM
What I mean is can you live comfortably off your name selling Protein and training videos. Discounting stupid career decisions of course.

Only if you are smart.
Title: Re: If you win an Olympia are you financially set for life?
Post by: AbrahamG on September 06, 2019, 01:10:49 PM
I'd say you'd be well on your way so long as you don't go out and start raping.
Title: Re: If you win an Olympia are you financially set for life?
Post by: IroNat on September 06, 2019, 02:17:11 PM
Just one win?

No.
Title: Re: If you win an Olympia are you financially set for life?
Post by: Marvin Martian on September 06, 2019, 02:26:47 PM
I'd say you'd be well on your way so long as you don't go out and start raping.

I see what you did there... 😁
Title: Re: If you win an Olympia are you financially set for life?
Post by: Powerlift66 on September 06, 2019, 02:36:39 PM
One win?? Nah... Years worth of food, drugs and coach and only win 400K After taxes, expenses, walk away w/ not much.
Even Heath has to steal and pawn jewelry after all his wins. Sponsorships aren't very good these days.
Title: Re: If you win an Olympia are you financially set for life?
Post by: Royalty on September 06, 2019, 02:46:00 PM
Set for life... yes.... but ... only if you train at Oxygen in Kuwait
Title: Re: If you win an Olympia are you financially set for life?
Post by: Flexacon on September 06, 2019, 02:46:36 PM
Only if you are smart.

You wouldn't be doing all those drugs in the the first place if you were smart! So the answer is no.
Title: Re: If you win an Olympia are you financially set for life?
Post by: anvil on September 06, 2019, 02:50:33 PM

Even Heath has to steal and pawn jewelry after all his wins.

Hahahahaahahahahahaa! Dumb Phildo
Title: Re: If you win an Olympia are you financially set for life?
Post by: Darren Avey on September 06, 2019, 02:51:02 PM
Who cares about the money.  If you win the O you're in the history books has having won the greatest prize in the whole world
Title: Re: If you win an Olympia are you financially set for life?
Post by: Royalty on September 06, 2019, 02:53:32 PM
Who cares about the money.  If you win the O you're in the history books has having won the greatest prize in the whole world

So just let the “athletes” starve... and let the IFBB pocket all the sponsorship money?
Title: Re: If you win an Olympia are you financially set for life?
Post by: anvil on September 06, 2019, 02:55:31 PM
Winning the Olympia title ranks in prestige right up there with winning best blueberry pie in the county fair
Title: Re: If you win an Olympia are you financially set for life?
Post by: IRON CROSS on September 06, 2019, 03:03:04 PM
What I mean is can you live comfortably off your name selling Protein and training videos. Discounting stupid career decisions of course.


Yeah, Mr.Vince G. could invest your $$$ & you'll have a very happy life ........................

& you could sell Sandow for $ 345  ;)
Title: Re: If you win an Olympia are you financially set for life?
Post by: Irongrip400 on September 06, 2019, 03:50:04 PM
fuck no
Title: Re: If you win an Olympia are you financially set for life?
Post by: MCWAY on September 06, 2019, 04:13:30 PM
What I mean is can you live comfortably off your name selling Protein and training videos. Discounting stupid career decisions of course.

Larry Scott won two and only got $1000 and a crown.

Arnold Schwarzenegger May be the only multiple winner to see his pay to DOWN. One year his cash prize went from $1000 to $750, I think.
Title: Re: If you win an Olympia are you financially set for life?
Post by: IronMagazine.com on September 06, 2019, 04:20:14 PM
You wouldn't be doing all those drugs in the the first place if you were smart! So the answer is no.

I think Jay Cutler is doing pretty well for himself.
Title: Re: If you win an Olympia are you financially set for life?
Post by: Earl1972 on September 06, 2019, 04:22:07 PM
i thought jay said the difference between winning and 2nd place was huge because having the olympia win on your resume would drastically increase the amount of appearances you would receive plus the amount you would be paid for those appearances

the check they receive from winning alone could be invested wisely and pay them for the rest of their lives

E
Title: Re: If you win an Olympia are you financially set for life?
Post by: tommywishbone on September 06, 2019, 04:28:00 PM
Only if you are smart.

That works.
Title: Re: If you win an Olympia are you financially set for life?
Post by: IRON CROSS on September 06, 2019, 05:43:28 PM
Larry Scott won two and only got $1000 and a crown.

Arnold Schwarzenegger May be the only multiple winner to see his pay to DOWN. One year his cash prize went from $1000 to $750, I think.


NABBA Pro Mr.Universe 2019 = 2 trophies (bronze statues or glass vase, not + $ 800 in value) & medal , 5kg of protein powder  :-\

Title: Re: If you win an Olympia are you financially set for life?
Post by: Coach is Back! on September 06, 2019, 05:49:54 PM
What I mean is can you live comfortably off your name selling Protein and training videos. Discounting stupid career decisions of course.

If you've made it to the Olympia chances are you've already won a few shows, established a name for yourself, secured sponsors and have made WISE INVESTMENTS. Winning an Olympia can only further this. Winning at an older age such as Shawn or Dexter only enhances the wealth. My guess is that if you're a top 6 Olympian, you're set
Title: Re: If you win an Olympia are you financially set for life?
Post by: Tbomzisback! on September 06, 2019, 07:55:33 PM
 A smart investor could use 400k tax free and set themselves up for life - would still need at least some part time work most likely, but it could work depending on your location. If you live somewhere that houses can be purchased for $100k, for example. Buy yourself a small  one to live in, buy another one to rent. Maybe rent a room in your place for a while. After a few years buy another rental house. Within 10 years you would have 4-5 rental homes and your own house, all paid off, with enough income to pay all your bills and slowly build up savings.
Title: Re: If you win an Olympia are you financially set for life?
Post by: oldtimer1 on September 06, 2019, 08:08:42 PM
What is the Olympia prize? 200K?  Maybe another 400K in endorsements. If you're active maybe for five year you can make during that time maybe 3 million. Really 1.5 after taxes. First you buy the million dollar house with with money with a mortgage. Buy 300K in cars. Buy Mom a 200K house. After 5 years there is no more prize money. Endorsement deals are going to the new it guy. Without money coming in the million  dollar house goes because it has a mortgage and outrageous taxes. You move in with Mom. The cars have to go. Now you realize you're not set for life. Suddenly you realize the California fire man in the gym is making 100K plus a year. Every ten years he made a million but he can't splurge it because it's doled out a 100K a year. The Olympia is now broke while the Fireman is just fine.
Title: Re: If you win an Olympia are you financially set for life?
Post by: IRON CROSS on September 06, 2019, 08:52:04 PM
If you've made it to the Olympia chances are you've already won a few shows, established a name for yourself, secured sponsors and have made WISE INVESTMENTS. Winning an Olympia can only further this. Winning at an older age such as Shawn or Dexter only enhances the wealth. My guess is that if you're a top 6 Olympian, you're set


I believe L.Priest is 1 of them &  :P

K.Waller was Olympia class winner &  :-[

T.Platz was O class winner 2  & is selling old cars .................. :-X

ETC,...........
Title: Re: If you win an Olympia are you financially set for life?
Post by: Rascal full on September 06, 2019, 10:31:29 PM
What is the Olympia prize? 200K?  Maybe another 400K in endorsements. If you're active maybe for five year you can make during that time maybe 3 million. Really 1.5 after taxes. First you buy the million dollar house with with money with a mortgage. Buy 300K in cars. Buy Mom a 200K house. After 5 years there is no more prize money. Endorsement deals are going to the new it guy. Without money coming in the million  dollar house goes because it has a mortgage and outrageous taxes. You move in with Mom. The cars have to go. Now you realize you're not set for life. Suddenly you realize the California fire man in the gym is making 100K plus a year. Every ten years he made a million but he can't splurge it because it's doled out a 100K a year. The Olympia is now broke while the Fireman is just fine.

Haha ain't this the truth. Oldtimer1 you are great at this 'In Reality what really happens' stuff...
Title: Re: If you win an Olympia are you financially set for life?
Post by: Powerlift66 on September 07, 2019, 03:13:00 AM
I think Jay Cutler is doing pretty well for himself.

He's a rare breed and its his smart real estate and other investments.
If he was still some BB thong warrior hitting the dais and pumping his guns only, he'd also be broke. Smart man.
Title: Re: If you win an Olympia are you financially set for life?
Post by: MAXX on September 07, 2019, 03:17:54 AM
probably not

dependsw on your cost of living and how spendy you are I guess
Title: Re: If you win an Olympia are you financially set for life?
Post by: Irongrip400 on September 07, 2019, 03:09:08 PM
Anybody that thinks you can win $400k and be set for life is an idiot, or Vince Goodrum. Not saying he’s an idiot, just that he’s thrifty. These dudes are used to flash and shit, so $400k ain’t doing it.
Title: Re: If you win an Olympia are you financially set for life?
Post by: tres_taco_combo on September 07, 2019, 03:16:33 PM
Coleman won how many? isnt he broke? its alll lifestyle choices.

jay cutler seems to be doing well

Title: Re: If you win an Olympia are you financially set for life?
Post by: Earl1972 on September 07, 2019, 07:46:37 PM
Anybody that thinks you can win $400k and be set for life is an idiot, or Vince Goodrum. Not saying he’s an idiot, just that he’s thrifty. These dudes are used to flash and shit, so $400k ain’t doing it.

a lot of people became set for life with far less, you just have to invest it well

E
Title: Re: If you win an Olympia are you financially set for life?
Post by: IroNat on September 08, 2019, 06:46:19 AM
Coleman won how many? isnt he broke? its alll lifestyle choices.

jay cutler seems to be doing well



According to his website he's selling a ton of supplements.

https://ronniecoleman.net/
Title: Re: If you win an Olympia are you financially set for life?
Post by: Humble Narcissist on September 08, 2019, 05:01:25 PM
What is the Olympia prize? 200K?  Maybe another 400K in endorsements. If you're active maybe for five year you can make during that time maybe 3 million. Really 1.5 after taxes. First you buy the million dollar house with with money with a mortgage. Buy 300K in cars. Buy Mom a 200K house. After 5 years there is no more prize money. Endorsement deals are going to the new it guy. Without money coming in the million  dollar house goes because it has a mortgage and outrageous taxes. You move in with Mom. The cars have to go. Now you realize you're not set for life. Suddenly you realize the California fire man in the gym is making 100K plus a year. Every ten years he made a million but he can't splurge it because it's doled out a 100K a year. The Olympia is now broke while the Fireman is just fine.
Having a mortgage is the big problem.  When you have a lump sum of cash that you may never repeat you should buy the house cash with enough saved to pay the taxes and insurance for the next 30 years.
Title: Re: If you win an Olympia are you financially set for life?
Post by: ProudVirgin69 on September 09, 2019, 07:11:49 AM
Having a mortgage is the big problem.  When you have a lump sum of cash that you may never repeat you should buy the house cash with enough saved to pay the taxes and insurance for the next 30 years.

Why?  Mortgage rates are less than expected ROI on most market index funds.  You'd be losing money by paying cash
Title: Re: If you win an Olympia are you financially set for life?
Post by: Pet shop boys on September 09, 2019, 07:52:12 AM
What I mean is can you live comfortably off your name selling Protein and training videos. Discounting stupid career decisions of course.


you don't need to win it , as long as you're good enough to compete in it  you're set, the Supp industry is where the serious income is,   by using a legitimate business as a front for sale of drugs.....  and not getting caught of course  .



WoooSHHHHHHHHHHHHHHHHHHHHH
Title: Re: If you win an Olympia are you financially set for life?
Post by: Grape Ape on September 09, 2019, 08:07:57 AM
This was the main reason I didn't "take it to the next level" in terms of drug use to try to win this show.
Title: Re: If you win an Olympia are you financially set for life?
Post by: Humble Narcissist on September 09, 2019, 09:25:59 AM
Why?  Mortgage rates are less than expected ROI on most market index funds.  You'd be losing money by paying cash

True for most people but those athletes aren't investing in index funds they are investing in cars, jewelry and child support for baby momma's.  For a person who makes one lump sum of cash that may be all they ever make putting money in the market is risky because a crash would cause them to lose their nest egg.  Buying a house cash is as much insurance to make sure they have a house for the rest of their lives more than anything else.  For people who have careers that last past age 35 it's different.
Title: Re: If you win an Olympia are you financially set for life?
Post by: bigkid on September 09, 2019, 10:00:29 AM
a lot of people became set for life with far less, you just have to invest it well

E
If you want like like a pauper eating pork and beans and living in a trailer.
Title: Re: If you win an Olympia are you financially set for life?
Post by: Earl1972 on September 09, 2019, 04:12:04 PM
If you want like like a pauper eating pork and beans and living in a trailer.

no they used it on real estate investments or they started a successful business

E
Title: Re: If you win an Olympia are you financially set for life?
Post by: Henda on September 09, 2019, 11:33:22 PM
Depends on the persons spending habits and where they live. 400k here in north east England you could buy a nice house to live in for about 150k, then buy 5 houses in poorer areas for 50k each that would rent out for 500 a month. No mortgage and 2500 a month you could live like a king here and never work again

Down London you wouldn’t get a flat for 400k
Title: Re: If you win an Olympia are you financially set for life?
Post by: cephissus on September 09, 2019, 11:36:38 PM
Set for life... yes.... but ... only if you train at Oxygen in Kuwait

And you'd be better off boarding the flight with your posers rather than your earnings ;D
Title: Re: If you win an Olympia are you financially set for life?
Post by: Coach is Back! on September 10, 2019, 12:41:22 AM
Coleman won how many? isnt he broke? its alll lifestyle choices.

jay cutler seems to be doing well



Hardly think he’s broke. I think I read on something like celebrity net worth (I think) he’s worth like $10mil. Despite popular belief he’s no dummy. Didn’t he graduate college with an accounting degree? Plus whatever he gets from the Sheriffs department?
Title: Re: If you win an Olympia are you financially set for life?
Post by: bigkid on September 10, 2019, 10:23:16 AM
no they used it on real estate investments or they started a successful business

E
Real estate will cash flow what 6-7% pretax?   You could say they could stick it in the next amazon but that's not reality.  Winning $400K pretax prize money in your 30's doesn't set you up for life.  Certainly helps though.
Title: Re: If you win an Olympia are you financially set for life?
Post by: LurkerNoMore on September 10, 2019, 10:40:16 AM
A win won't necessarily equate into financial success.  I mean, look at Heath.  He won multiple times and for the last one I believe he didn't even have a sponsor.  If that is correct, he has to be the first Mr O ever to not have a sponsorship while defending his title.  Which speaks volumes for his character.

But you could realistically place in the top 5 a few times and invest wisely and do better than someone that wins it year after year and blows it.
Title: Re: If you win an Olympia are you financially set for life?
Post by: Humble Narcissist on September 10, 2019, 01:11:27 PM
A win won't necessarily equate into financial success.  I mean, look at Heath.  He won multiple times and for the last one I believe he didn't even have a sponsor.  If that is correct, he has to be the first Mr O ever to not have a sponsorship while defending his title.  Which speaks volumes for his character.

But you could realistically place in the top 5 a few times and invest wisely and do better than someone that wins it year after year and blows it.
How much do they spend in a year on drugs, food, coaches, etc?
Title: Re: If you win an Olympia are you financially set for life?
Post by: AbrahamG on September 10, 2019, 03:53:28 PM
How much do they spend in a year on drugs, food, coaches, etc?

Food and coaches are pretty expensive.  Drugs, not so much.  After all, they are only the finishing touch.
Title: Re: If you win an Olympia are you financially set for life?
Post by: LurkerNoMore on September 10, 2019, 05:04:45 PM
How much do they spend in a year on drugs, food, coaches, etc?

No idea, but with this being their "job", they qualify to write off things like food, travel, gym memberships, supps (but not drugs, obviously), chiropractors, clothes, gurus etc.....  I mean the smart ones do.
Title: Re: If you win an Olympia are you financially set for life?
Post by: IroNat on September 10, 2019, 05:06:04 PM
Chicken breast and basmati rice are expensive.

You can go broke easily eating it six times a day.

And all those veggies?

Fo-gedda-bou-dit.
Title: Re: If you win an Olympia are you financially set for life?
Post by: Humble Narcissist on September 11, 2019, 03:10:18 AM
Food and coaches are pretty expensive.  Drugs, not so much.  After all, they are only the finishing touch.
:D
Title: Re: If you win an Olympia are you financially set for life?
Post by: MAXX on September 11, 2019, 03:25:51 AM
How much do they spend in a year on drugs, food, coaches, etc?
probably a lot because they spend anything from 200-500 USD on hgh alone, every day what I have read anyways

I have no idea how they are able to finance this. But thats what that cost
Title: Re: If you win an Olympia are you financially set for life?
Post by: ProudVirgin69 on September 11, 2019, 05:07:19 AM
How much do they spend in a year on drugs, food, coaches, etc?

I gotta think that if you're a top, top bodybuilder (top 3-5) you're not gonna pay for your coach--aside from maybe a cut of the winnings.  Just the name recognition and clout that comes from a coach being able to say "yeah i coach Phil Heath/Ramy/Dexter etc" has gotta be worth 10s of thousands.

Drugs I would expect they largely get for free, for the same reasoning.  A juice dealer supplying a Mr O contender is big name recognition.  Maybe not pharm grade GH though
Title: Re: If you win an Olympia are you financially set for life?
Post by: Humble Narcissist on September 11, 2019, 10:15:10 AM
I gotta think that if you're a top, top bodybuilder (top 3-5) you're not gonna pay for your coach--aside from maybe a cut of the winnings.  Just the name recognition and clout that comes from a coach being able to say "yeah i coach Phil Heath/Ramy/Dexter etc" has gotta be worth 10s of thousands.

Drugs I would expect they largely get for free, for the same reasoning.  A juice dealer supplying a Mr O contender is big name recognition.  Maybe not pharm grade GH though
But the cut the coach gets is money out of pocket just after the contest not before.  No way a drug dealer gives free drugs for name recognition.  The last thing in the world a drug dealer wants is recognition.