SEWARD — When David Norris moved to Colorado a few years ago, he figured his career as an elite athlete was more or less over.

Norris, a Fairbanksan who trained as a world-class cross country skier for more than a decade, took a job coaching for the Steamboat Springs Winter Sports Club.

But somehow he has only managed to improve.

Norris won the Mount Marathon men’s race on Saturday, his seventh victory in seven races — putting him just one win off the all-time men’s mark of eight set by the legendary Bill Spencer.

What little bit Norris may have lost physically, he’s made up for with an alloy of balance and gratitude that continues to motivate him at age 35.

“I view myself as fortunate for sure,” he said. “When I moved to Colorado, that was sort of like me thinking I was done competing.

“I’m a full-time banker now, but I think I have time in my life to prioritize exercise, and my wife and I like to do it together. … It’s what I love to do, and so having races is just like little extra inspiration.”

As rain and mist traded punches on the field, the route to the peak was slick and unpredictable.

But Norris used the same approach that helped him win the previous six. He built a lead on the uphill and cruised on the downhill to finish in a time of 43 minutes, 8 seconds.

But even the champion fell victim to a tough race in tricky conditions.

“I actually fell like, three times,” he said. “Basically, I’d never fallen until this year. I didn’t feel like I really had a great rhythm in the downhill. I was driving to lift my toes, which is just weird, like my legs felt really stiff.”

The conditions meant Norris was unable to improve on the course record of 40:37 that he set in 2024. But the win meant he pulled away from Sven Johanson and Brad Precosky, who he was tied with in the all-time wins category with six.

Finding himself among the luminaries in the race has been an interesting turn of events as he has grown older and now represents the pinnacle of the race for a younger generation.

“I remember growing up being really excited watching Eric Strabel get the course record (in 2013), and then to be like, part of that now is super special,” he said. “It’s cool how much Eric and those guys inspired me. So hopefully, it’s good for all the junior racers that are out there.”

Following the race, Norris shared a nice moment in the finish pen with his parents, who made the trip down from Fairbanks.

Norris claimed his first title in 2016, followed that up with victories in 2018 and 2021, and now has won four straight starting in 2023. While he isn’t training like he was in those early years when he was a U.S. Ski Team member, what he’s doing is clearly working.

“I think I’ve gotten better at certain things and maybe weaker at other things,” he said. “But overall, I think I’m maximizing the amount of time I’m putting towards training and I’m having fun, so ultimately if I’m happy and it’s going well, I’m not gonna change it.”

[Anchorage’s Klaire Rhodes earns a 3rd straight Mount Marathon women’s title]

[Thale Randall, Wren Spangler take junior titles at Mount Marathon Race]

Squamish, British Columbia, runner Jessie McCauley placed second, finishing in 43:54.

McCauley said the Seward conditions were just like being at home as temperatures hovered in the low 50s while rain fell on the runners.

“Coming from Squamish, we’re used to six months of rain, so it kind of felt like home a little bit,” he said. “But, in all honesty, I had a (personal record) today by like, 30 seconds, and I really wasn’t anticipating in these conditions. It just goes to show that temperatures really make a difference, especially on this course.”

The top five was rounded out by Lower 48 runners.

Bayden Menton of Gunnison, Colorado, placed third (44:02), followed by Jackson Cole of Missoula, Montana (44:16). David Kennedy of Boulder, Colorado, placed fifth with a time of 44:43.

Anchorage’s William McGovern finished in eighth after a strong uphill effort.

Next year, Norris said he’ll be back looking for No. 8. But he’s still two wins behind the all-time record holder Nina Kemppel, who won nine.

“Last year, Nina Kemppel gave me a hard time saying I’ve still got a long ways to go to her nine,” he said. “That’s pretty awesome. I’d love to keep racing, and I’ll be doing it my whole life.”

ARIZONA — The Arizona Cardinals will be one of the first teams to hit training camp this summer.

Arizona’s July 22 report date is among the earliest in the league thanks to their participation in the NFL’s Hall of Fame Game to begin preseason festivities.

Eyes and ears are curious to see what Mike LaFleur’s first training camp in the desert looks and sounds like. With four preseason games and numerous camp practices, Arizona will begin the process of trimming their roster down to 53 players ahead of the regular season.

These four Cardinals could find themselves on the chopping block:

RB Trey Benson

Benson’s had arguably the worst offseason of any returning veteran in Arizona, as numerous faces have arrived to his position room to ultimately push him down the depth chart.

Benson’s play in the prior two seasons leading up to the 2026 offseason was shaky at best. Injuries and erratic play in the backfield offset any flashes of potential the Florida State product has had.

Many thought Benson may have been the potential lead back this season, though after James Conner restructured his deal, Tyler Allgeier signed in free agency and Jeremiyah Love was drafted with the third overall pick — Benson’s playing time has been massively dwindled.

If the Cardinals keep four running backs, Benson is in line to compete with Bam Knight for the final spot.

CB Kei’Trel Clark

I’ve often included Max Melton’s name in similar lists, and while there’s no doubting the pressure facing Arizona’s former second-round pick, Melton’s spot on the roster feels safe.

Kei’Trel Clark, on the other hand, is a different discussion.

Clark started seven games his rookie season but has combined for just two starts in the last two years after. The Cardinals have continuously poured resources into the cornerback room, and Clark’s hung around.

Injuries to Starling Thomas and Sean Murphy-Bunting helped solidify Clark’s roster spot last season, yet with both working their way back to full health (on top of Garrett Williams potentially being ready for Week 1), the Cardinals will have a crowded depth chart.

Clark will need to have a big training camp and leapfrog somebody ahead of him to retain his roster spot.

QB Kedon Slovis

This is more circumstantial than regarding talent.

Slovis moves into training camp as the heavy favorite to get the axe with Jacoby Brissett, Gardner Minshew and Carson Beck over him on the projected depth chart.

Brissett has (reportedly) been told by Arizona he’s the starter. Minshew has more guaranteed money than Brissett on his contract and Beck is a third-round pick.

None of the three quarterbacks are going to be cut, leaving Slovis with two options: Turn into the greatest quarterback we’ve seen or be an unfortunate cut candidate.

Slovis probably won’t make his way back to the desert on the practice squad, either — especially if Arizona indeed keeps three active quarterbacks on the roster.

Was Slovis ever going to start for the Cardinals? No. However, he’s on the chopping block merely because of the new faces added this offseason.

Charge it to the game.

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California’s median household income landed at $100,600 in 2024, according to Census data compiled by the St. Louis Fed. That is the number a portfolio has to replace to hand a Golden State family the same paycheck without anyone clocking in. The wrinkle: California’s 2024 regional price parity was 110.7, meaning prices were about 10.7% above the national average. Replacing that income with dividends carries a built-in purchasing-power headwind.

The core equation: income target divided by yield equals the capital required before taxes. What changes across yield tiers is the risk, growth trajectory, tax treatment, and whether the check keeps up with California living costs over the next decade.

The Sleep-At-Night Tier: 3.5% to 4%

At a 3.5% blended yield, replacing $100,600 requires roughly $2,874,000 in invested capital. This is the dividend growth lane. PepsiCo (NASDAQ:PEP | PEP Price Prediction) yields about 4% and just raised its payout for the 54th consecutive year, with a $1.48 quarterly dividend up from $1.4225. Johnson & Johnson (NYSE:JNJ) yields a leaner 2% but just delivered its 64th consecutive annual raise to $1.34 quarterly.

The tradeoff is capital-heavy but growth-rich. PepsiCo’s annual dividend climbed from $4.02 in 2020 to $5.62 in 2025, roughly a 40% raise in five years. That is how this tier beats the California cost-of-living treadmill.

The Middle Path: 5% to 6.5%

At a 5% blend, the required capital drops to roughly $2,012,000. Push to 6.5% and the number falls to about $1,548,000. This tier is where net-lease REITs, gaming REITs, and pipeline partnerships live.

Realty Income (NYSE:O) yields about 5%, pays monthly, and just declared its 114th consecutive quarterly increase at an annualized $3.246 per share. Portfolio occupancy sits at 99%. VICI Properties (NYSE:VICI) yields almost 7% off a $1.783 payout backed by triple-net leases on Caesars Palace and MGM properties with 100% occupancy. Enterprise Products Partners (NYSE:EPD) yields near 6% on a $2.20 annualized distribution, though its K-1 tax form adds filing complexity in a high-tax state.

The tradeoff: growth slows. VICI’s quarterly dividend rose from $0.4325 to $0.45 over the past year, a mid-single-digit bump. Realty Income’s payout grew about 3% to 3.7% per its 2026 AFFO guide. That still edges past inflation, barely.

The High-Yield Tier: 8% and Above

At 8.3%, the required capital collapses to roughly $1,212,000. Main Street Capital (NYSE:MAIN) is the archetype. Its regular monthly payout of $0.26 annualizes to $3.12, and four $0.30 supplementals per year add another $1.20, for a total of roughly $4.32 per share. Against a $52 stock price, that is a total yield near 8.3%.

The catch: BDC supplementals are tied to net investment income and portfolio performance, not contractual. Non-accruals sat at about 1% of the portfolio at fair value at quarter-end, which is healthy, but the extras can shrink in a credit downturn. The 10-year Treasury yields about 4.5% for comparison, so an 8% equity yield is nearly double the risk-free rate for a reason.

Why the Cheapest Portfolio Is Often the Worst Deal

A 3.5% yield growing 8% per year doubles the income stream in nine years. A flat 8% yield stays exactly where it started. Nine years from now, that $100,600 California household budget needs to be closer to $130,000 just to hold ground against typical inflation. The high-yield portfolio funds today’s paycheck. The growth portfolio funds today’s paycheck and next decade’s.

California’s top marginal state rate reaches 13.3%, and MLP K-1s, REIT ordinary-income distributions, and BDC dividends are almost all taxed as ordinary income. Qualified dividends from PepsiCo or Johnson & Johnson get preferential federal treatment. That gap matters in Sacramento’s tax bracket.

Before Chasing Yield, Run These Three Numbers

• Calculate spending, not salary. California households often need to replace only 70% to 80% of their working income once payroll taxes, retirement contributions, commuting costs, and other job-related expenses disappear. Replacing $75,000 of actual spending requires far less capital than replacing a $100,600 paycheck.
• Compare total return, not just today’s yield. Run a simple ten-year spreadsheet comparing a 3.5% dividend-growth portfolio with an 8% high-yield portfolio, assuming dividends are reinvested. The higher-yield option often wins early, but the growth portfolio frequently catches and passes it over time.
• Model after-tax income. California’s 9.3% and 13.3% state tax brackets can change the ranking. Qualified dividends, REIT distributions, BDC dividends, and MLP distributions all receive different tax treatment, so the portfolio with the highest stated yield may not produce the most spendable income.

Replacing California’s median household income with dividends is possible, but the cheapest portfolio is not always the one that leaves you in the strongest position ten or twenty years from now. The right choice depends on whether your priority is maximizing today’s income, protecting tomorrow’s purchasing power, or striking a balance between the two. For most investors, the real goal is not simply matching a paycheck. It is creating one that never requires punching a clock again.

Contact [email protected] for any questions or corrections.