Olympic gold medalist Hidilyn Diaz shares financial lessons for athletes: “Para sa akin, mag-ipon tayo kasi hindi tayo forever na atleta. Swerte na lang magtagal tayo. ‘Di ba may kasabihan na nasa huli ang pagsisisi, pero huwag tayong ganoon.”
After experiencing failure in business, and knowing that fame and money in sports aren’t forever, Hidilyn shares her financial lessons to inspire other athletes.
“I’ve heard and seen so many athletes who, after their careers, didn’t know where to go after. They went after their ‘wants’ instead of their ‘needs.’ Nakakalungkot. I don’t want it to happen to me and to all the athletes after me,” she added.
Opening a Business
Hidilyn Diaz is a popular figure in Philippine sports after becoming the first Filipino to ever win an Olympic gold medal for the Philippines. Even before winning the Olympic gold in Tokyo, Japan, she already won a silver medal in the 2016 Rio Olympics.
She opened a gym in her hometown using her winnings in the 2016 Olympics, but that venture proved to be a failure.
“Wala po akong profit doon. So sabi ko, noong nag-aral po ako ng business management, doon ko nasabi na oo nga, mali ‘yung ginawa ko… Wala siyang kahit ROI (return on investment) or breakeven man lang, di ba? Wala talaga.”
“So sabi ko mali ‘yun. Mali ‘yung ginawa ko. Although maganda ‘yung intention ko at masaya po ako sa ginawa ko kasi nga, ‘yun ‘yung naging motivation ko before Olympics eh, ‘yung mga bata. Sabi ko magpapatayo ako ng gym.”
“Kaya lang siguro mali lang ‘yung ginawa ko kasi lahat binigay ko. Lahat na binili ko at hindi ‘yun tama. Dapat may percentage po dapat. ‘Yun ‘yung dapat kong matutunan, at mag-ipon ipon din.”
So, it’s important to learn the basics of business.
Avoid Getting Scammed
Hidilyn also admits to losing a lot of money after getting scammed.
The basics of avoiding a scam: If it’s too good to be true, then it probably is. Don’t invest your money in something like that.
Save & Invest
Money in sports isn’t forever, Hidilyn knows that. Now that she’s learned a lot from her failures, she’s saving up as much as 90% of her money.
She also plans to invest in the stock market, but because she’s too busy, a financial adviser is currently doing it for her.
Making Future Plans
Hidilyn also plans on making her own weightlifting academy.
“I hope to inspire Filipinos and the youth to join sports,” she explained.
She also plans to put up a cafe, a restaurant, a hotel, and an airBNB.