davews09 wrote:
Out of curiosity, how do you (or any bottom tier pro for that matter) financially support your triathlon pursuits (racing / travel / lodging, etc)? If not independently wealthy and if not funded by a well-to-do relative et al, do you simply 'living the dream' until a point is reached where accumulated negative cash flows result in too much debt and you throw in the towel & get a "real" job?
I don't envy people in your shoes - must be difficult. I'm glad the enjoyment of swimming, biking and running to some extent makes up for the financial hardship.
Dave as others have said both Cody Beals and Brad Williams did write-ups on this in depth. I can say for myself that I have no aspirations of making any real money in this sport, if I wanted to make real money I would have stuck it out as a medical device sales rep or any number of other well paying jobs. I can say that I am very different from my peers in a number of ways.
Most notably is that I have an incredibly simple life. For instance everything I own can fit in my car. I drive to almost all races. My car, which I purchased for $3,500, costs very little to operate. I also try my best to minimize almost every expense. I pretty much refuse to pay anything more than $400 in rent a month. If I can't find rent for that price I don't move there. In years past I have lived in Tucson and this winter it was Clermont. Cost of living at both places is incredibly cheap. Contrary to my peers you will never find me posting a picture of Starbucks coffee in social media. The same philosophy applies to all food purchases buying in incredible bulk - think of 50lbs of popcorn for $20. I don't live in Boulder because the cost of living there is out of control. The same sort of philosophy gets applied to time in my life as well - I commute by bike almost everywhere. Although I can't control the top-line, I do my best to maximize my bottom line by controlling my expenses.
I am of course incredibly grateful for all the people that have opened up their homes for homestays to me as that helps out a ton. The sport keeps progressing, times it took to win 5 years ago on the 70.3 circuit no longer net you a top-10. When I first went pro I never thought the sport would keep progressing so far and so fast all while going thru a severe consolidation process in terms of races. Although the number of dollars has roughly stayed the same, the prize purse consolidation has really made it much harder just to get a paycheck. I was lucky to get a paycheck in every race last year, this year I am 2 for 7. Sponsorship continues to consolidate as well.
With all that being said, I chose this path and I look at the only way out is up so I continue to push forward and try to out work / out sleep everyone else and hopefully grow faster than they are growing. I love the sport, I love the lifestyle and of course there is a tremendous opportunity cost in pursuing this path instead of climbing the corporate ladder. Fortunately I neither feel the pressure or personally desire a big house, fancy cars, nice things. Nothing wrong with that, just that isn't my personality.
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