How Much Money Have You Spent On Training?

This is kind of like asking yourself, "how much money, time and effort did it take me to grow that tomato (started from seed) in the garden?" when you could buy a cheap (tasteless) one in the store.  Not sure where I'm going with that analogy, but the taste of the first tomato of the year is worth all of the cost/effort.  You kind of spoil it when you sit down to analyze what it cost to produce.  Same for triathlons, and I'm sure the costs will vary widely with different people  

Anyway, if I bought the $5k TT bike I want my total triathlon costs would be much higher than they are right now.  How "successful" you are is a very subjective assessment depending on one's goals. 

You can't simply buy a fast IM time.  Interesting question though.

How much $$ someone spends is irrelevant to their performance. It is about doing the actual training no? I can hire the best coach and buy the best equipment and still be BOP if I don't do the work...

I continue to tell my wife that performance is directly related to the amount of $$$ spent, so if she wants to me finish an IM it'll cost us. ;-)

Unfortunately I married smart and she sadly knows the truth. How much $$$ we spend on the sport is irrelevant. I had a guy on a mountain bike pass me in my first Olympic, and I was riding my expensive tri bike.  I all find it motiviating to train, knowing I spent a tonne of money on this endevour.

I actually think this is a great analogy.  Training for endurance sports is a journey.  Your needs, interest, and ability will change, and over time you accumulate the equipment commenserate with your ability (I think).  The tomato will probably grow either way, but as you learn the proper fertilizer, and how to apply it, you will get a richer tomato.

You have to work to get better.  As you get better and learn about yourself and the sport, you find tools to maximize your time/effort.  You don't NEED them, but they can help you improve.  I think the people spending the big bucks had already reached a high level of knowledge and expertise.  It's at that point that you need to spend and find the chinks in the armor.

Another analogy.  A few simple tips, and practice can probably get a golfer from 100 to mid-eighties.  It's going from the mid-eighties down to the mid-seventies where all the errors have to be eliminated, the equipment needs to be right, and just simple practice isn't good enough.  It's focused work.

If you throw in my bike,  HED wheels, helmets, gloves, tires, clothes, shoes, race fees, pool fees, lactate testing, coaching, etc.,  I figure I've spent well over $6K since I did my first tri in Feb 04.  Probably more than that if I spent the time to really analyze it.

How has that investment paid off?  Well, hard to measure.  In my first sprint tri I did a 2:02.  Last year I did the same race in 1:30 flat (my PR).  Still the BOP in my AG.  (50M).  My swim and bike are significantly improved, but I'm still a slug on the run.  That being said, I would say 98% of my gains have come from my work in training, with maybe 2% attributable to my gear. 

Quite frankly, as an older empty-nester, money is not really an issue with me.  I could afford to buy a better bike, but I can't justify it at this point because I'm not training enough now to maximize the potential of my current two-year-old bike.  I just wish I had more time to train.  One of my goals for this year is to start off-loading some of my other commitments so I can do that.

The biggest achievement is my resting heart rate has dropped from 68 bpm to 42 bpm and my blood pressure has dropped from borderline hypertension to around 112/70.

Training?  Probably a couple hundred bucks. 

Running:  2 pairs of shoes per year, misc. shells, sweats, tights, hat, gloves usually on clearance.

Cycling:  1 pair of tires every other year, misc. lube & tubes.  Figure a jersey & shorts per year.  Did buy an indoor trainer (garage sale) last summer. 

Swimming:  1 pair of trunks (usually) per year, a pair of goggles per year.  It costs me $1.25 per swim. 

Nutrition:  I've spend some $$ on sports drink, gels, energy bars, etc. specifically for training. 

Misc:  BT performance membership, ID, HRM, ...

Racing?  Now that's another story...including race fees, travel expenses, USAT membership...way more than training.  I'll throw the wetsuit purchase in with racing because I got it for one race specifically.  Bikes haven't been included in either racing or training.  Most of my more expensive gear (bikes, wetsuit, trainer) has come used and were pretty inexpensive compared to what's out there. 

How well have I performed?  I've completed every race to date (sprints, OLY, HIM), so I'd have to say my success is far greater than my financial investment.  I'm not shooting for professional or top AG status. 

The first year I raced, I spent less than $400 for everything, including race fees.  I skated by on the minimum of equipment, and splurged on a wetsuit and joining a local tri club - and I had a blast.  "Not having" didn't affect my pleasure of the sport. 

I spent more last year, but I don't think this improved my times necessarily; rather, I invested more time in training/commitment on my end, and rewarded myself for better performance with more comforting/fun things.  The biggest expense last year was a new bike, and yes this made a HUGE difference, but I still could have skirted by on the first year equipment.  I jumped from Sprints in 2005 to Sprints and 3 Oly's in 2006. 

Same this year - I bought more comfortable materials (better sneakers, gel seat for the longer bike rides, nutritional products I hadn't tried before), etc.  This year I'll do two sprints, three oly's and a 1/2 Iron. 

I don't think success necessarily equates with expenditure, but making the investment in better equipment (to me) means you are motivated to go longer/stronger, and are better able to handle those longer distances.  Not much would change now w/ my current equipment when doing an Iron (except maybe a new bike). 

I agree with Jorge (amiine): as for performance, there is only one thing I'd need to change: my weight and how often/hard I train, and that (fortunately) is free! 

Last year I won a 5k running race with around $100 in prizes/gift certificates so I claimed it on my taxes.  This allowed me to take all my tri/running expenses as "hobby" expenses and it worked out to something like $6k or so.

With my frame purchase and the wheels I'm ordering I'm already easily over $4k this year, not including anything else I've bought.

My to do list for today: Send inquiry to the accountant for 2007...

I figure that when all's said and done that IMWI will run me between 10-15K.

Best money I've ever spent, and still cheaper than bypass surgery (althought insurance would pay for surgery, I can't get them to pay for training).

Just curious - did you deduct the entire $6k of expenses?  Because "hobby losses" are only deductible to the extent of income produced by the activity. 

Did you run this by an accountant, because I expect this is not kosher in the eyes of the IRS? Just google "hobby-loss rules":

If you engage in a business with the objective of making a profit, you can generally claim all your proper business deductions. If your business deductions exceed your income for the tax year, you can claim a loss for the year, up to the amount of your taxable income from other activities. Any remaining losses may be carried over into other years.

However, if the IRS deems your business to have no profit motive (an activity not engaged in for profit) your ability to deduct losses is limited to the amount of income generated by the activity. These are the “Hobby Loss Rules” under IRC 183. A “hobby” can not generate a tax loss that can be used to offset other taxable income on your tax return.

 

I have no idea as to exact dollars but I know it is less than most people hear but my wife still thinks it is too much.  My bike was cheap (only $300), plus aerobars, bags, tubes, bottles, etc.  2 tri shorts (on sale), 1 top (on sale), Team Javelin gear (free, well $25), a few pair of googles, tri bag, bike shoes ($20 on ebay), pedals, pump, 2 helmets (1 from walmart, aero on sale), 1 bike jersey ($40 for doing MS150).  This only stuff I had to purchase because of doing tris. Prior I was only a runner so I also have new shoes every 6mo or so, sock (trying to get away from using socks to save time), shirts, shorts, upgraded from garmin 201 to 305 ($215, so second biggest purchase), 2 gym memberships ($15 at work since it is convenie and $25 at 24 hr fitness for the pool), community pool membership in the summer ($50).  Plus race fees, I normally don't travel to race so I don't really have the expense of hotels and travel or the cost associate with that.  Plus nutriation which nickles and times you.

The only things I am missing is a wetsuit (purchasing shortly thanks to xterra 50% off deal) and a tri bike (I can live without).

If you subtract the health benefits and added energy I think I about break even, but then throw in expenses to keep the wife happy (dinner out, flowers, new clothes), I am probably in the hole $10K .

Overall I think my money is well invested in my health.

Already received my refund ......... so they accepted it.

I did the same thing about 6 years ago when I was drag racing cars and won money at the track racing plus a few sponsorship primes from those races.  They were okay with it then.