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The Cost of Gold… and Rent for US Olympians

by | Rental Relations | 0 comments

We have a serious case of Olympic fever over here. But we’re taking a break from Olympic binge watching to look at Olympians who rent, just like us.  (Who are we kidding, the DVR is on it, there won’t be one minute of Olympic magic missed here!)

You may be all too familiar with the struggle of working full-time to make rent. Attempting to have a life outside of working to pay the rent doesn’t leave much time or energy to get a workout in. Now imagine reversing those priorities. Be sure to tell your landlord you’re putting your workouts ahead of how you are going to pay rent. 

For many of the 555 Olympians on Team USA, that is exactly what they do. A few Team USA athletes are comfortably covering their living expenses, Michael Phelps, Hope Solo, Kevin Durant, to name a few. But the majority of Olympians don’t have endorsements to carry them through the expenses of each month. They’re normal people (with super-human powers), who like millions of Americans, have rent due each month and are just trying to get along with their landlords.

Meet Team Tenant

Megan Kalmoe

Rowing
Residence: Princeton, NJ

By her own estimate, Olympic veteran Kalmoe trains 36 hours a week. That’s right, five hours of intense workouts every single day. ESPN reports she considers herself fortunate to have found a $1000 three-bedroom house to rent and a roommate. On her $800 US Rowing stipend that meant that 63% of her income was going toward rent.  That left a whopping $300 a month to cover food, vehicle expenses, and sport related costs.

In 2015 Kalmoe earned a raise, increasing her US Rowing stipend to $1,600 a month. She has openly admitted with the raise the financial stress has been eased and her performance has improved. Morale of the story, if our boss would just pay more of our rent, we would all do so much better at work!

Jason Pryor

Fencing
Residence: Queens, NY

 

For Olympians the cost of rent is overshadowed by the cost of equipment and coaches to pursue their dream of competing in the Olympics.  Pryor is no exception, his long list of mounting expenses drained his checkbook this year. It may seem ironic that these individuals we watch on TV with incredible athletic abilities are absolutely financially strained. It adds a different dynamic to the games knowing that the medals they hope to win would not only fulfill a dream, but also come with a monetary bonus that would lift a huge burden off their shoulders. Until that day comes, MarketWatch reports Pryor rents a bedroom in a friend’s house while financing his dreams by working at Dicks Sporting Goods.

 

Jeremy Taiwo

Track and Field
Residence: Seattle, WA

Taiwo successfully turned to gofundme to raise over $63,000. It must have felt like winning the lottery for someone who admits he’d been living below the $11,880 US poverty line. Balancing 5-hour training sessions with renting in Seattle, WA has been a heavy load to carry. According to Fortune, he splits his rent with his fellow Olympian girlfriend, Justine Fedronic.

Travis Stevens

Judo
Residence: Wakefield, MA

The cost of competing far exceeds the cost of living for Stevens. His competition expenses ranging from $7,000 to $14,000 a month, Stevens had to get creative to cover his athletic ambitions. In addition to training full-time, he has both an online store and a jujitsu school generating income.  However, Time reports after competition expenses it barely leaves enough to pay his landlord at the end of the month.

There you have it, you’re not the only one struggling to make your rent, you are just like the US Olympians, minus the world class athletic ability. So tonight, when you turn on your television to watch the games, cheer a little harder, because despite training their whole lives to compete in the worlds biggest competition, some of those athletes have no idea how they are going to pay rent when they get back to the US.

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