Discuss Latest WCI Blog Post: The Finances of Professional Cyclists – Podcast #244

[The White Coat Investor]

An interview with Tour de France veteran Toms Skujiņš, where he discusses how much money pro cyclists make and how they save for retirement.

The post The Finances of Professional Cyclists – Podcast #244 appeared first on The White Coat Investor - Investing & Personal Finance for Doctors.



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[bovie]

File this under WTF...

An interesting tidbit or two though, I'll admit.

[Eye3md]

If you’ve not read Phil Gaimon’s book “Pro Cycling on $10 a day”, you should pick it up. He talks a lot about his salary/finances as an amateur trying to make it to the pro world

[Tangler]

I will probably give it a listen for entertainment purposes, but really? How applicable is this to the average high income earning American (target audience)? I have about in much in common with a professional cyclist as I do an NBA player. He must be running out of stuff to talk about. Who knows, might be entertaining when I run my 3 miles at gs = geriatric speed.

[The White Coat Investor]

Wow, you guys are Negative Nancys this morning. Most pro-cyclists have a doctor like income. Athletes and artists, like doctors, have high earnings due to special knowledge, ability, or talent rather than any particular skill with running a business. So there are lots of similarities there. I've done pilots, attorneys, veterinarians, PAs/NPs, pharmacists etc and so I added on another high income group here. I'd love to get a successful artist on too. Remember not all successful athletes/artists make $5M+ a year. Lots of them make $150-500K, just like you.

[Eye3md]

I'm only a mediocre cyclist myself but I love everything about the TdF, and the Classics. So, I loved this interview and found it very worthwhile. If you are not into cycling, I don't think people have a true appreciation of what these guys do, and the money some of them are paid (ex, Peter Sagan). Some of these guys make a lot of money, and are then "retired" in their mid 30s. That's a long time to make that money last for a lifetime.

[Tim]

LMAO.
Can’t wait for youtubers and rap stars.
How about the lobbyists and life long political establishment?
Many similarities, the ability to make money.
You win! Common goal, buy a house(s) and pay less taxes.

[Lithium]

I love recreational cycling but never thought of it as anything more than a hobby. Jim, I think the difference between pro cyclists and pilots/attorneys/veterinarians is that the latter group is a lot more common and relatable for us. Many of us have friends and in-laws who went to law school and veterinary school, etc and so it’s nice to be able to speak their language. I don’t expect to have a conversation with a professional cyclist in my life.

[Tangler]

I love recreational cycling but never thought of it as anything more than a hobby. Jim, I think the difference between pro cyclists and pilots/attorneys/veterinarians is that the latter group is a lot more common and relatable for us. Many of us have friends and in-laws who went to law school and veterinary school, etc and so it’s nice to be able to speak their language. I don’t expect to have a conversation with a professional cyclist in my life.

Bingo.

Pretty hard to relate to a pro athlete of any kind.

NFL player, NBA player, PGA tour, Pro anything is just not the dude you see in the lounge or in the gym.

They are more like a famous actress or famous comedian.

Don't mean to be too negative, still an interesting discussion.

We just are really different from these folks and they are a rare bird.

For example, about how many pro cyclists are on the forum vs dermatologists or anesthesiologists?

[Smalltownboy]

Some people on here complain too much. If you like it, listen to it. If you don't like it, don't listen to it. Its not your website or podcast, its really as simple as that.

[Lithium]

Some people on here complain too much. If you like it, listen to it. If you don't like it, don't listen to it. Its not your website or podcast, its really as simple as that.

I agree, I have a million other podcasts to listen to and it’s no skin off my nose if I skip this one this week. My comment was intended as constructive feedback rather than “complaining” in case Jim is curious why the downloads this week aren’t as high as usual. I could be wrong though, maybe this episode will spike a lot of interest.

[The White Coat Investor]

LMAO.
Can’t wait for youtubers and rap stars.
How about the lobbyists and life long political establishment?

If you know any, please send them my way.

[The White Coat Investor]

Bingo.

Pretty hard to relate to a pro athlete of any kind.

NFL player, NBA player, PGA tour, Pro anything is just not the dude you see in the lounge or in the gym.

They are more like a famous actress or famous comedian.

Don't mean to be too negative, still an interesting discussion.

We just are really different from these folks and they are a rare bird.

For example, about how many pro cyclists are on the forum vs dermatologists or anesthesiologists?

You'd really rather listen to me interview Lithium than Drew Brees about their financial issues?

[Tim]

Some people on here complain too much. If you like it, listen to it. If you don't like it, don't listen to it. Its not your website or podcast, its really as simple as that.

Complaints and feedback are two different things. WCI has a tendency to prefer more light than darkness. You are correct, WCI can do as he wishes. On the blog, podcasts or Forum.
WCI has thick skin. My take is WCI was surprised.
For Toms Skujiņš, no one intends that you are not welcome. Your career is just different than most. I hope you realize that. Feel free to participate in the Forum anonymously or if you wish to be a celebrity self identify. Not one comment was about you. Welcome.

[Lithium]

You'd really rather listen to me interview Lithium than Drew Brees about their financial issues?

To be fair, that’s not because I’m a medical professional, it’s because I’m a boring AF person.