Financial Advisors vs. Self-Management: What’s Right for the CrossFit Athlete?

As a CrossFit athlete, you’re no stranger to tough decisions: which WOD to tackle first, how to scale that heavy back squat, or when to push through muscle fatigue. But there’s another choice lurking off the gym floor that can have a huge impact on your long-term success: Do you manage your own investments, or do you bring a financial advisor onto your team? 

I know firsthand how unpredictable athlete income can be. One month you’re cashing sponsor checks; the next you’re hustling to book coaching gigs. That roller-coaster makes consistent saving and investing feel… well, like a PR effort with no spotter. So let’s walk through the key questions you need to ask yourself to find the path that fits your personality, your lifestyle, and your goals.

1. Do You Confidently Know the Basics?

Before you decide to DIY—or “do it yourself”—ask: Do I really understand asset allocation, risk management, and market cycles? 

Legendary investor Warren Buffett famously said, “Risk comes from not knowing what you’re doing.” If you’re unfamiliar with the fundamentals, you might make emotional decisions—like panic-selling after a market dip—or overlook basic diversification needed to protect your gains. An advisor can help you build a plan that stays steady through volatility, freeing you to focus on training without obsessively checking stock tickers. 

 2. How Complex Is Your Financial Picture?

Your finances might include prize money, sponsorship deals, LLC expenses, merchandise revenue, and multiple coaching contracts. That’s a lot to juggle! 

John Bogle, founder of Vanguard, reminded us that “by keeping it simple, you can beat most investors, both sophisticated and unsophisticated.” Sometimes simplicity means handling a handful of broad investment categories yourself; other times it means handing your complexities off to a pro who can streamline your accounts, filings, and tax strategies. If your money streams feel like a chaotic WOD, an advisor can be the coach who devises the right structure.

 3. What Am I Willing to Pay and What Can I Risk?

Advisory fees can vary depending on services and asset levels—so ask for clear, transparent fee schedules and compare your options. As Warren Buffett warns, “Only when the tide goes out do you discover who’s been swimming naked.” In other words, during downturns, the unprepared pay the highest price. 

But remember: what’s the long-term cost of a mistake? Selling low during a panic or over-concentrating in a single market segment can erase years of compound growth and set back your goals significantly. A skilled advisor not only designs a strategic plan but also helps you stay disciplined—and avoid costly errors. 

 4. Can I Control My Emotions When Markets Bump?

Markets will wobble—sometimes violently. Will you stick to your plan, or will fear make you bail out at the worst possible time? Benjamin Graham, the father of value investing, wrote, “The investor’s chief problem—and even his worst enemy—is likely to be himself.” 

If you know that volatility shakes your confidence (and your impulse might be to sell low and sit on cash), having an advisor by your side can act as an emotional coach. They’ll remind you of your long-term goals, keep you invested when the headlines are screaming “bear market,” and help you capitalize on buy-low opportunities. 

 5. Do I Have the Time and Passion for Portfolio Management?

Managing money well takes time—time to read market news, log into multiple accounts, and adjust your strategy as life changes. If you’re someone who enjoys learning about finance, testing new approaches, and spending weekend hours on spreadsheets, you might thrive as your own advisor. You might.  

But if your days are full of WODs, recovery sessions, and coaching calls—and you’d rather spend your free hours with family, friends, or extra mobility work—then paying an advisor to handle the details might be the smartest “time-investment” you make. 

Putting It All Together 

There’s no one-size-fits-all answer, but by weighing these factors, you can make an informed choice: 

• Fundamentals: Are you confident in core investment principles? 

• Complexity: How many income streams are you juggling? 

• Cost vs. Risk: Do fee savings outweigh potential mistakes? 

• Emotional Discipline: Can you stay calm when markets wobble? 

• Time & Passion: Do you have the bandwidth for hands-on money management? 

If, after honest self-assessment, you lean toward a DIY approach—fantastic. Equip yourself with reliable resources, maintain strict discipline, and review your plan regularly. If you decide an advisor is your MVP, look for someone who specializes in athlete finances and shares your values: transparency, simplicity, and performance under pressure. 

Next Steps 

Still not sure which path suits you? I’d love to help you explore both options. Click here to schedule a 30-minute call with me and my team. We’ll dive into your specific goals, income patterns, and risk tolerance—no pressure, just clarity. 

Now go crush that next WOD—on and off the platform—and choose the financial strategy that keeps you at your peak for years to come!