If you win an Olympia are you financially set for life?

[Powerlift66]

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.

[MAXX]

probably not

dependsw on your cost of living and how spendy you are I guess

[Irongrip400]

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.

[tres_taco_combo]

Coleman won how many? isnt he broke? its alll lifestyle choices.

jay cutler seems to be doing well

[Earl1972]

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

[IroNat]

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/

[Humble Narcissist]

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.

[ProudVirgin69]

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

[Pet shop boys]

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

[Grape Ape]

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.

[Humble Narcissist]

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.

[bigkid]

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.

[Earl1972]

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

[Henda]

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

[cephissus]

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

[Coach is Back!]

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?

[bigkid]

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.

[LurkerNoMore]

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.

[Humble Narcissist]

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?

[AbrahamG]

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.

[LurkerNoMore]

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.

[IroNat]

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.

[Humble Narcissist]

Food and coaches are pretty expensive.  Drugs, not so much.  After all, they are only the finishing touch.

[MAXX]

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

[ProudVirgin69]

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