Former Olympic swimmer Mark Foster reflects on money, mistakes and life after sport while dividing his time between Essex and Norfolk

Mark Foster has never done things by halves.

Now 55, the former British swimming star spent two decades racing the clock at the highest level, appearing at five Olympic Games between 1988 and 2008.

Along the way he collected six world titles, 11 European crowns, two Commonwealth golds and rewrote the record books eight times.

These days, life looks different: he’s a TV pundit, a motivational speaker and an author, with his autobiography due out in May.

Home is split between Essex and Norfolk.

Lessons That Started at Home

Money, he says, was never something handed out freely.

His parents were clear: if you wanted it, you earned it.

His late father, Robin, trained as a maths teacher before moving into advertising at Saatchi & Saatchi, while his mother Sheila worked as a nurse and health visitor and encouraged a love of sport.

Growing up in Thorpe Bay, Essex, it was Sheila who scraped together the money for swimming lessons in nearby Southend when Mark was just six.

By 15, he was already the fastest swimmer in Britain.

Earning Early and Rising Early

His first taste of work came in his teens. Around the age of 15, he helped his sister Claire with her paper round and spent Saturday mornings delivering milk bottles.

The pay was modest, but the early starts didn’t bother him — he was already used to dawn training sessions at the pool.

When Medals Didn’t Pay the Bills

Swimming, at that time, was strictly amateur.

There were no big contracts or sponsorship deals, just medals and pride.

To keep afloat financially, Mark took whatever work he could find. At 17 and 18 he was a groundsman at his old school.

A couple of years later, he signed on. He fitted double-glazing, temped in council offices and worked as a courier driver.

If he wanted to keep chasing his Olympic dream, he had to keep earning on the side.

The Myth of Sporting Riches

Despite his success, there was never a moment of “silly money”.

The biggest single payday of his swimming career came in 1996, when he broke the world record for the 50m butterfly at Cardiff’s Empire Pool and earned £20,000 in prize money. That was as good as it got.

Finding Financial Flow After Retirement

Ironically, his best year financially came after he hung up his goggles.

In 2012, demand for British athletes surged thanks to the London Olympics.

Mark’s main income now comes from public speaking, sharing lessons from elite sport with businesses, schools and colleges.

That same year, he returned to the Games as part of the TV swimming coverage.

A comment from Clare Balding stuck with him: “The next best thing to doing it is talking about it.” She was right.

Careful, Not Cautious

Mark describes himself as a saver — but not obsessively so.

He’s generally risk-averse, though he admits to the occasional punt.

Like most young earners, he once spent what he made and enjoyed buying nice things.

These days, he’s more measured. He earns a decent living, lives within his means and isn’t extravagant.

Ask him the price of milk, though, and he’s lost.

The Car That Marked a Milestone

That £20,000 prize in 1996 went on something memorable: a BMW M3. Growing up in Southend, he’d always loved fast cars, and at 25 it felt like a fitting reward for years of relentless training.

He kept it for a couple of years before swapping speed for safety, becoming a devoted 4×4 driver.

For the past five years, he’s been behind the wheel of a Volkswagen Touareg, which he rates as the best car he’s owned.

A Costly Lesson in Trust

Not every decision worked out so well. Around 20 years ago, he invested £40,000 in a supplement company after being persuaded by friends of friends.

He convinced fellow athlete and commentator Colin Jackson to invest the same amount.

The money vanished quickly, replaced by excuses.

Looking back, Mark says he’d rather have given it to charity. The experience taught him a hard but valuable lesson.

A Business That Makes People Move

One decision he’s particularly proud of is FitSteps, a dance-fitness programme launched in 2014 with professional dancers Ian Waite and Natalie Lowe, whom he met through Strictly Come Dancing in 2008.

The idea was simple: combine ballroom and Latin dance with a serious workout.

Today, around 1,000 teachers run FitSteps classes across the UK. No partner is needed, and it’s designed for all ages and abilities.

Planning Without a Traditional Pension

As a self-employed person, Mark doesn’t have a workplace pension.

Instead, he’s relied on Isas and Peps, which are now invested across hedge funds and stocks and shares.

His accountant also happens to be one of his closest friends, doubling as a trusted financial adviser.

Two Homes, One Base

Property-wise, he owns a three-bedroom semi in Essex and another house in Norfolk, splitting his time between the two.

Essex is home turf — his mum and two sisters live within five miles.

Norfolk captured his heart through golf, a sport he takes seriously.

His best handicap was 9.5, and at 9.9 he’s still close to peak form.

Thoughts on Tax and Fairness

If he were Chancellor, Mark admits he wouldn’t know where to begin. There’s a lot to fix.

One issue that particularly bothers him is inheritance tax — the idea that someone can be taxed all their working life, only for what they leave behind to be taxed again.

The Goal That Comes First

Above all else, his main financial aim is simple: clear the mortgage.

There’s about a decade left to run, and if a windfall ever came his way, that’s where it would go first.

Still Fast When It Counts

Fitness remains part of daily life. He hits the gym four times a week and swims once or twice weekly at David Lloyd clubs.

Occasionally, someone recognises him in the pool and fancies a race. Sometimes he lets them win.

Other times, he flicks on the afterburners — just to remind them he used to be pretty good.

Where to Find Out More

More details about Mark’s work can be found at markfoster.co.uk, and he also features on the This Is Money podcast.

What’s next? With Mark Foster, there’s always something coming up next.

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