EduCounting

Episode 1155: Precious medals

The costs and benefits of being an Olympian with Mak and G

SHOW NOTES

Today, Mak and G talk about the Olympics, the ROI (return on investment) of an Olympian, and how much it costs for athletes to train vs. how much they get paid.

The Olympics have ended with America taking home more medals than any other country.

 

It’s time to celebrate our Olympians, they’ve trained hard and some don’t even get any prize money, even if they’ve won a gold medal.

 

So how much do Olympians earn, how much does it cost them to train at such a high level, and what else do they get out of it?

 

Mak and G try and work out the ROI of being an Olympic athlete and where the reward really lies…

 

“You have to practice an average of 10,000 hours to become an expert or master.” – G

 

“About 60% of Olympic athletes earned about $25,000 a year.” – Mak

 

“The experience, with or without a medal is priceless. It’s not the end result but the journey.” – Mak

Time Stamps:

00:53 – Our market update for the week.

01:35 – America’s performance in the Olympics, and how population affects a country’s performance.

02:54 – What ‘ROI’ is and how you can use it to evaluate an investment.

04:35 – How much Olympians get paid if they win a medal.

06:11 – The 10,000-hour rule and how long it takes to become an Olympian.

06:58 – How much it costs to train and compete on an Olympic level.

07:53 – How much athletes get paid throughout the year.

 

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