"Lot of them just lose their way real quick"- When Usain Bolt opened up about young talent receiving paychecks early in their career

Usain Bolt once opened up about track athletes receiving huge paychecks early in their careers. The legendary Jamaican athlete shared how it can have an impact on the drive they have towards their goals and compared it to the contrast in situations from his time as an athlete.

Bolt emerged as an upcoming track talent after his victory at the World U-20 Championships in the men's 200m in 2002. Following the win, his career spanned over a decade, and the Jamaican athlete has witnessed a lot of athletes compete in the highly competitive track circuit.

He spoke in an interview in 2017 and shared the difference between the young athletes of the new generation and himself. Usain Bolt revealed how the opportunities that the new generation of athletes receive right after high school are incredible. Moreover, he shared that athletes were not paid a lot of money when they came out of high school during his time, but nowadays, high-performing athletes can earn a good amount of money through sponsorships as well as the NIL (Name, Image, and Likeness).

Usain Bolt shared his opinion on young talent earning money from an early point in their careers and expressed that it can make them lose their focus very quickly and eventually affect their potential.

“When I started track and field you didn’t get paid a lot when you just came out of high school. Now when you have young talent, they get paid so early that a lot of them just lose their way real quick," he was quoted as saying by NBC Sports.

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Usain Bolt's advice to athletes about saving money

Jamaican former athlete Usain Bolt becomes the official ambassador of EXPO 2027 in Serbia - Source: Getty

Usain Bolt spoke about managing his money in an interview with CNBC. The Jamaican athlete shared that during his early years as an athlete, he would spend more money than he wanted to. However, after being advised by his team and having a detailed conversation with them helped him learn about savings.

Bolt advised athletes to have a fixed part of their income directly for savings and eventually spend the rest of the money on their needs.

“When I started coming up, I spent a little bit more than I wanted to. I have to give credit to my team. They’ve really helped me to understand how to save. Then you can spend the rest and pay bills. I tell people if you make $10, save $6, and then you can figure out what to do with the rest,” he said.

Moreover, Bolt shared that this method helped him become financially secure as well as plan for the future.