Since retiring from aggressive snowboarding in 2019, three-time Olympic medalist Lindsey Vonn says she’s remade herself as a businesswoman with a affected person, low-risk monetary strategy.
That helps clarify why she’s sluggish to heat to cryptocurrency.
“I’ve small investments in crypto, however I haven’t got any main holdings with it,” Vonn tells CNBC Make It. “I believe there’s nonetheless fairly a little bit of volatility in it, and I do not solely belief it but.”
Vonn, 37, was usually aggressive on the slopes whereas successful a girls’s file 82 World Cup races. However in her enterprise life, which incorporates investments in Under Armour and recovery technology company Hyperice, she says she’d somewhat keep away from being somebody who exams sizzling, new monetary crazes.
“I’ve learn all of the experiences [about crypto]. And clearly, globally, it makes a number of sense,” she says. However, she provides, she desires to study extra about crypto earlier than investing in it extra closely.
To an extent, Vonn is bucking a development: Skilled athletes from seven-time Tremendous Bowl champion Tom Brady to three-time NBA champion Stephen Curry have spent loads of time plugging their crypto investments recently.
However monetary specialists usually warn about crypto’s risky nature, recommending that you just solely make investments cash you’ll be able to afford to lose. And Vonn notes that regardless of her athletic success, snowboarding merely is not as profitable as soccer or basketball.
In 2019, Vonn’s remaining aggressive season, the skier solely took house roughly $3,500 in prize cash, according to the Worldwide Ski Federation. Again in 2012, in the course of the prime of her 19-year profession, she received round $600,000 in prize cash. Her internet value has additionally been bolstered by endorsement offers with firms like Pink Bull, Beats by Dre and Rolex.
“We do not make hundreds of thousands and hundreds of thousands and hundreds of thousands of {dollars},” she says. “So I’ve actually needed to be very good with how I deal with my cash.”
Vonn’s reticence can also be unsurprising on one other degree. Twice as many males spend money on cryptocurrency than girls, based on a CNBC and Acorn’s Put money into You: Subsequent Gen Investor survey printed in August.
The report added {that a} related disparity exists at almost each degree of investing: Presently, twice as many males spend money on exchange-traded funds, or ETFs, and particular person shares than girls.
“For many years, girls couldn’t take out a mortgage, signal a mortgage, and even personal a bank card with out having a male co-signer,” the report famous. “The legacy of those discriminatory practices continues even by means of as we speak.”
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