Indeed, I'm sure professional Olympic athletes could gain some lucrative work through their actual profession. It says a lot about society these days when being a media whore is excused as 'needing to make a living somehow'.
Wishful thinking for the most part. Coaching is an option for some but you're deluded if you think this would be lucrative for Olympic Sports. Also it won't suit everyone. Those who are successful in sports very often don't make good coaches & the most successful coaches often had very little success when they competed.
There is also motivational and/or after dinner speaking but again that won't suit all - formal public speaking isn't for everyone.
The only other alternative is doing commentary but then you would probably deride them for being a media whore. And again for Olympic sports it won't be that lucrative as even post 2012 there is still only limited coverage of most Olympic sports - a few days here & there.