4 Financial Lessons I Learned From Michael Phelps

Olympic fever was felt worldwide in 2016. Michael Phelps has done it again winning his 23rd gold medal and 28th medal overall.

For today?s Financial Fitness Magazine, I have compiled 4 of the top financial lessons from I learned from Michael Phelps.

Financial Lesson #1: It does not matter where you start financially.

Did you know Michael Phelps did not win a medal in his first Olympic games? It’s true. Even though he did not start well, he showed the world that his future looked bright. Even though you may not be in a great financial position right now, your financial future can also be better, when you commit to making your future bright.

Financial Lesson #2: Financial success is a journey of overcoming challenges.

Michael endured many ups and downs throughout his career. At the age of 10 he was diagnosed with ADHD. And after he did well at the 2012 Olympic games, he lost his endorsement deals due to some bad choices he made. He overcame those challenges to have his best Olympic games ever in 2016. And he is sure to reap the benefits of new, even more lucrative endorsement deals.

Financial Lesson #3: Always set and go after financial goals.

After the 2012 Olympic games in London, Phelps retired from swimming. With no goals to chase he was arrested for DUI twice. With new commitment to his goals in 2016, he then turned his focus to Rio… and the rest is history.

Financial Lesson #4: Giving back is the key to financial success.

Michael has inspired and mentored thousands of youngsters. He also inspired Joseph Schooling of Singapore who won the gold medal in the 100m butterfly, while Phelps won the silver. When you give back by helping others and giving to charitable organizations or your church, it ends up bringing you blessings you may not expect.

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