Allyson Felix on her big splurge: “Did I need that?”

Allyson Felix looks back on the expensive purchases she regrets from the start of her career.

Allyson Felix shares the money management lessons she learned after splurging on luxury items early in her career.

The Olympic gold medalist recently joined Vivian Tu on SoFi’s Richer Lives podcast, where she opened up about the luxury purchases she made early in her career while adjusting to life as a high-earning athlete.

Felix recalled, “I remember two things I bought that I still regret. I splurged on a $7,000 anaconda skin Gucci bag, which felt like a huge expense at the time, and I thought, ‘Did I really need that?’ I also got rims for my Escalade in the early 2000s. I was definitely doing the most.”

Luckily, Felix, the most decorated Olympic track and field athlete, had a strong support system that helped guide her toward smarter financial choices. “It was all about work ethic, never quitting, and being in service, helping others,” she shared. “My mom was a teacher, and my dad was a seminary professor. They were both people who truly cared for others and gave back.”

Felix also opened up about the financial struggles professional athletes face, noting that Olympic competition doesn’t always guarantee big paydays. She explained how an athlete’s income can vary depending on performance, sponsorships, and market trends.

“As an athlete, you’re so focused on performance that I didn’t always consider the practical side of things,” Felix explained. “I surrounded myself with great people, but looking back, I realize that if you’re not in the top one percent, it’s tough to maintain longevity in this industry.”

She added, “You can’t afford to dip too low, which adds stress that can affect your performance. I tried to keep my focus on doing well and let everything else fall into place.”