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Olympians who’ve taken their competitive skills to the financial world

August 12, 2012

The London 2012 Olympic Games are winding down.

That means we spectators now go back to our regular television and Internet viewing habits. But what about the athletes?

Many of the competitors will resume training for the 2014 events in Rio de Janeiro, Brazil. But for some, the trip to Great Britain represented their final efforts to win podium finishes.

Michael Phelps, the most decorated U.S. Olympian ever, wants to work on his golf game. Here's hoping he avoids water hazards.

Missy Franklin, another swimming gold medalist, says she's still leaning toward entering college next year instead of cashing in on her five 2012 medals (golds in the 100- and 200-meter backstroke events, relay golds in the 4×100-meter medley and 4×200-meter freestyle and a bronze in the 4×100-meter freestyle relay).

And other athletes will, as the old parental admonition goes, "get a real job."

Some of those entering the traditional working world might go into financial industry positions. It's happened before.

Lori Konish of On Wall Street caught up with some former Olympians who now help people manage their money. They include silver medalists Ted Murphy (rowing in the 2000 Sydney games) and Eric Flaim (speeding skating in the 1988 Calgary games).

Financial Olympians courtesy On Wall Street

Click on the image above to find out more via On Wall Street's gallery about Flaim, Murphy and other Olympians who now are financial advisers.

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TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill. 

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year. 

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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