December 25, 2024

This story is part of CNBC Make It’s Millennial money series that details how people around the world make, spend and save money.

With more than 50 items on his daily to-do list, Jake Spotswood keeps his days organized – a necessity for a 25-year-old whose daily routine The job is strategic consulting and training for the 2024 Olympic Trials.

A professional pole vaulter, Spotswood went from training 9-to-5 straight to night workouts at the indoor track at George Mason University in Fairfax, Virginia, where he volunteered as an assistant coach to in exchange for the right to use the facilities.

Spotswood, a recent graduate of Virginia Tech with master’s degrees in leadership studies and business administration, expects to earn about $94,000 this year as a consultant in the Washington area.

Combined with sponsorships that fund his pole vaulting season and a growing online personal training business, Spotswood expects to earn about $11,000 a month.

Jake Spotswood, 25, lives on $11,000 a month in Fairfax, Virginia.

Enrique Waikir

Spotswood developed the habit of meticulously planning his day in high school and perfected it to the point where he knew what he was going to do the next day, from the audiobooks he would listen to on his commute to the exact tasks he would do. his daily routine. The habit tracking app also controls his finances, exercise and diet plans.

“Everything is organized so that I can check in with myself throughout the day and ask myself, did I accomplish X, YZ?” he told CNBC Make It. “Because at the end of the day, it’s the little things you do every day that add up to something big.”

Explore Pole Vault

Spotswood, who grew up in Fairhope, Alabama, said he was always a daredevil and spent much of his time cliff diving and wakeboarding. So when he was in seventh grade at a local high school and noticed “kids jumping off a pole,” his interest was immediately piqued.

“I just got back to my parents and I was like, ‘Where can I do pole vaulting?'” he recalled. “It turns out the high school I was going to open had this strong pole vault program, but not many high schools have it. It was a weird thing, but it worked out perfectly.”

Spotswood first fell in love with pole vaulting in seventh grade and began a 12-year career in the sport.

Enrique Waikir

Spotswood quickly fell in love with sprinting, lifting weights and throwing in the air. He was recruited as a decathlete at the University of Alabama, competing in 10 events ranging from the long jump to the 400-meter dash. By his senior year, he had become an NCAA first-team All-American, broke multiple school records, and helped his team win the SEC championship.

After graduating from Alabama in 2021 with a bachelor’s degree in business administration, Spotswood took advantage of the extra two years of NCAA eligibility he earned during the Covid-19 pandemic and redshirted his sophomore year to attend Virginia Tech as a graduate student hospital. There, he went on to break school records, win a silver medal at the ACC Championships, and be named to the NCAA All-America Second Team.

But just a year before he hung up his college cleats, his final long jump workout was a disaster.

“When I took off, my heel slipped on the takeoff, my spikes caught on the track, my foot rolled inward, and when I came off the ground, I knew I had messed up, very, very badly,” he said explain. “My fibula was split in two in two places, I had several broken bones in my foot, some ligaments were torn and some tendons were dislocated.”

When Spotswood concluded his collegiate decathlon career, he was a two-time NCAA All-American and three-time conference champion with teams at the University of Alabama and Virginia Tech.

Enrique Waikir

Surgery and a lengthy recovery process followed, and Spotswood knew he would need his full attention if he wanted to return to the field. He was able to play his final season, finish fourth in the ACC Tournament, and help his team win the conference championship.

“Every time I rehab, every time I go to eat or sleep, it’s a reminder of my potential and what I want to achieve,” he said. “It really taught me how to be proactive and patient, which means don’t just sit back and wait for things to happen. Put in the work. Stay proactive, but know it’s going to take a while to get where you want to be.”

While Spotswood was able to bounce back from the injury and finish his college career on a high note, it made him sit back and seriously think about his future in track and field. That thoughtfulness led Spotswood back to what has always been a special activity for him, even as a kid — pole vaulting.

Olympic hope

After graduating from Virginia Tech, Spotswood decided to focus on professional pole vaulting and hoped to qualify for the Olympic trials in June.

To qualify for the trials, he had to jump 5.55 meters – just over 18 feet. Spotswood said he is currently ranked in the top 40 in the U.S. pole vault competition, and the top 24 athletes will advance to the trials. From there, the three were selected to compete in Paris.

“I’ve set a personal best in the pole vault this season and continue to improve,” he said. “I’m just having fun doing it.”

After the 9-to-5, Spotswood headed straight to the track at George Mason University, where he volunteered in exchange for use of the facilities.

Enrique Waikir

While Spotswood was focusing all his attention on jumping higher, running faster and improving his technique, he knew his social life was nothing like the average 20-something.

“You have to accept that you don’t behave the same way as most people do,” he said. “I go to work, go straight to the track, don’t miss a day of training, and then at night I’m just trying to build my brand… You just have to accept that it’s going to be non-stop.”

fund it all

Becoming a professional athlete may seem glamorous, but for many pole vaulters, the sport isn’t a living wage.

To bolster his season, Spotswood tapped into a skill he’s been developing since the NCAA began allowing college athletes to profit from their name, image and likeness: building his personal brand.

He now has nearly 100,000 followers on social media platforms where he creates content about balancing a career with training and staying healthy in your 20s.

“When it’s a sport that doesn’t generate revenue, you just have to be creative,” he said.

When it’s a sport that doesn’t generate revenue, you just have to get creative.

Spotswood currently has four sponsors funding his season, bringing in a total of $3,000 per month.After training, he edits social content in the evening before going to bed around 11 p.m.

His social media followers also helped him launch an online personal training business, creating customized fitness and nutrition plans for clients who pay $320 a month for one-on-one coaching. The venture helped him move beyond brand deals and offer his services to followers.

Spotswood spends his weekends working on clients’ weekly plans and takes calls from clients in the evenings after leaving the track. He hopes to slowly expand the business, working with 20 clients, and eventually hire assistance to manage the business.

In January, he made about $1,400 from personal training. He expects his business revenue to fluctuate from month to month, depending on the number of clients he works with.

how he spends his money

Here’s how Spotswood will spend its money in January 2024.

Elem Ateaza | CNBC Success

  • invest: $3,000 for two investment accounts
  • housing and utilities: Rent is $700, including Wi-Fi, heat, water and electricity
  • Insurance: $485 for auto and life insurance
  • transportation: $471 for Metro, gas, parking and EZPass, plus $99 for carry-on luggage
  • food: $251 for groceries and dining out
  • fully authorize: $184 for gifts, donations, shopping and haircuts
  • Subscriptions and Memberships: Oura Ring, Audible, CapCut and Apple Storage subscriptions are $108

As soon as Spotswood receives his consulting salary, he transfers half of it into his savings account. From there, he invested $3,000 per month, with $1,800 in an Acorns account and $1,200 in a Fundrise account. His 401(k) coverage is about $1,200.

Spotswood lived in a townhouse in Fairfax with three other roommates. His $700-a-month rent includes utilities and Wi-Fi. His parents have health insurance until September and are still on their family phone plan. He also pays $475, twice a year, for car insurance on a car his parents gave him when he graduated from high school.

Spotswood is able to keep his monthly food bills low by buying cheap groceries like canned tuna and Greek yogurt for lunch, while weekend dinners are taken care of by one of his sponsors, Roots Natural Kitchen, for which he The restaurant creates content in exchange for 30 meals per month.

George Mason University provided him with a daily stipend of $250 to cover his food expenses while traveling with the track and field team. Training at George Mason University’s facilities also means no expensive gym fees.

Spotswood has managed to stay debt-free by paying off his credit cards every few days and using sports to fund his education.

He initially attended the University of Alabama on a small scholarship and was quickly able to secure more support to cover all of his tuition. When looking for graduate school, getting a full scholarship is the first thing to consider, and Virginia Tech offers both a full scholarship and an excellent athletics program.

“I told myself I wasn’t going to go to grad school unless I could pay for it and support myself while I was in grad school,” he said. “I always thought it was a big deal, graduating debt-free, basically just a good start.”

Looking to the future

After 12 years of pole vaulting, 2024 could be Spotswood’s last dance. But before hanging up his spikes, he wanted to see how much he could achieve and whether he would qualify for the Olympic trials.

He plans to continue building his health and fitness brand, using his social media to show that it’s possible to pursue career goals and stay healthy.

Spotswood said his injury and lengthy recovery forced him to reconsider his future in track and field.

Enrique Waikir

Living on $220,000 a year - living with my parents

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