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Money, Achievement, Fame, & Suicidal Ideation


Michael Phelps had everything in 2014. He was retired with millions, but had nothing to live for until he found what was missing: Purpose.


If you’ve paid any attention to anything at all in the last couple weeks, you are probably well aware that Michael Phelps had an outstandingswim in this latest rendition of the Summer Olympics. His swan song (or so we are told) will go down as one for the ages.

The story most often regaled of the 2016 version of Phelps is hissuccessful comebackto the sport of swimming. By most accounts, four years ago, he pretty much mailed in his performance in London. Histraining was subpar and inconsistent. His head wasn’t in the right place.

He was in his mid-twenties. He had been arrested for a DUI at age 19. He had been photographed with a bong. Probably not the first time he had seena bong. Although he was popular, accomplished, and an incredible athlete, he wasn’t the All-American good boy the sponsors and fans had fallen in love with. I’m not sureheknew who he was either, other than being a swimmer.

I thought they banned those suits

I thought they banned those suits

After scoring an incredibleeight gold medals in Beijingin 2008, he followed up with four golds and two silvers in 2012. In his first race in the 2012 London games, the 400-meter individual medley, he actuallyfailed to medalin an Olympic event for the first time since he was a 15-year old kid, swimming the 200-meter butterfly in Sydney.

By the London Olympiad’s end in the summer of 2012, he was well decorated, but it’s not unfair to say he didn’t live up to his potential. It may be more fair to say he didn’t match the expectations the world had placed upon him.

He followed up that performance by coming out of retirement two years later, training with a newfound vigor, and earning five golds and a silver in the 2016 Rio Games, solidifying his position as the Olympian with the most medals in history.

The Rest of The Story

The comeback story is impressive. His talent and resolve are remarkable. But to me, the victories and medals aren’t the story. It’s where he was two years ago, and how he ended up there.

Retired from swimming and feelingburnoutafter the London games, Phelps was in a rut, struggling to find purpose without a pool.

Self medicating with alcohol led to a drunken driving arrest after a stop for speeding down the Fort McHenry Tunnel in Maryland with a 0.14% blood alcohol level in September, 2014.

He continued to drink after being released. He was not a happy man. As he toldESPN the Magazine,

“I didn’t give a s—,” Phelps says. “I had no self-esteem. No self-worth. I thought the world would just be better off without me. I figured that was the best thing to do — just end my life.”

He had money.

He had fame.

He had won more Olympic medals than anyone, ever.

He had no will to live.

There are many lessons to be learned here.

  • Money won’t solve your problems.
  • Neither will fame.
  • Achievements are in the past. Purpose is looking forward.
  • Depression is real and can take down a king.
  • Alcohol is not the solution (despite what Homer says).

Never assume that once you haveXamount of money, your happiness cup will bubbleth over. Most of usFinancial Independenceoriented people have a numeric goal in mind. For some, it’s10 factorial ($3.6288 million). For others, something less than a million will suffice. I’m shooting forat least 40x annual expenses.

Phelps had way more money than any of us are aiming for. He was beyondfinancially independentby any measure. I haven’t been inside his mind, but based onwhat I’ve read, it appears he was lacking purpose.Always have a purpose.What good is money and time if they serve no purpose in your life? What are you but a hedonist if you serve no purpose in life?

Success and achievement don’t guarantee happiness. Having a goal, and taking steps to achieve your goal, may be as satisfying, if not more so, than realizing the actual goal.

If Phelps can hit rock bottom when he should be on top of the world, so can anyone. At the time of his darkest days, he had already won 18 gold medals -- which is 18 more than I have, and I would guess 18 more than the entire readership of this blog.

When the binge was over, Phelps checked in to The Meadows, a treatment center in Arizona, for a 45-day stay. He has been sober since, and credits his inpatient stay, along with Rick Warren’sThe Purpose Driven Life, with saving him from himself.

I’m not going to take this in a direction to suggest you should be born again as an Evangelical Christian. I’m certainly happy it worked for Phelps, but this site is not about religion.

I’m also not going to turn this into a diatribe against alcohol. Although I certainly would agree that a couple DUI arrests and suicidal thinking are more than enough reasons to avoid the sauce for the rest of your life.

The take-home message is that there are no guarantees.

Being the best won’t make you a winner.

Achieving the loftiest goals may not leave you satisfied.

Money is a focus of this site and most personal finance blogs, but money alone is just one piece of the financial freedom puzzle.

If you need help, ask.

If you’re not happy with your life, change your life.

I came across this inspirational camper van on my recent travels. Most days, I find some tidbit of information that reaffirms my desire for a more adventurous life and anearly retirement. Rarely does it spell it out in bold capital letters all over. This van speaks my language.

Motivational Van

This is your life.

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