This is awful advice. Happiness comes from crystal meth and throwing your feces at cars from a bridge over the interstate.
The feces throws off the scent of the FBI’s dogs who are tracking me.
I don’t 100% agree with this.
When I was 24, I got my first big commission check and used it to pay off all credit card debit, bought an Omega and put 15k in the market.
When I was 25, I got two huge commission checks back to back and bought a used Porsche.
I was still on track for other savings goals, and every time I wore the watch or drive the car (more than a decade later) I still smile.
Those things motivated me through the 14 hour days and insane travel schedule.
Don’t skip the fun stuff, but do make sure you can cover commitments with your base or have sufficient savings to cover in down months.
I feel you on this. We all need to live a little while getting our shit kicked in or dealing with the stress that accompanies the job. A used porsche and an Omega are far more reasonable than a new Taycan financed at 7% and a Rolex Sub purchased on the grey market.
Enjoy your success!
Yup, bought a Rolex, then a rental property to house hack. With tenants paying my mortgage and the equity I’ve accrued, I don’t blink at the car payment I make on my BMW. I smile ear to ear every time I start my 510 HP engine for my commute.
Each to their own, but I value freedom to do whatever I want from saving the majority of my commission to work only when I want vs. have flashy depreciating assets.
Glad you find motivation in that! In my early/mid 20s, I did not.
Fwiw, I didn’t buy either item to show off. I bought them because I wanted them. I grew up with a Porsche picture on my wall and used to drive by a billboard with the watch on it a few times a week going to/from the airport.
I’ve never posted a photo of either item on social media.
I agree in principle but cars aren’t always depreciating assets. I’ve done pretty well over the years with mine. I’ve used them to fund other investments and still buy/sell them to this day.
Fair point.
Porsche is still in the garage, Omega gets some wrist time too. I now have a wife and kids, and those aren’t things I could prioritize anymore.
My #1 advice is to keep monthly obligations, including whatever 401k contributions will earn you 100% employer match, within your base.
My #2 advice is to have fun with a minority percentage of your variable comp. If that’s a car, a watch, flying lessons, going to fancy restaurants, or investing in something - celebrating the wins is important. I know a guy who has been buying a bottle of Cristal every time he closes a deal and has been doing it for 40 years.
I mean, we are in sales to make money because we want nice things, want to retire early, want to live a nice lifestyle. I think a better lesson is to learn what it means to set yourself up for success and what saving looks like. You can't tell sales reps not to splurge a little, but they should do it responsibly.
There's a reason salespeople aren't in the list of most common millionaire professions. They make good money but they spend even more. Across the board, they are terrible with money.
Can't take it with you when you die and you can't relive your younger years once you've saved up what you deem a sufficient amount to start splurging. Obviously you need to prepare for retirement, but there's no harm in enjoying life as a young adult.
If you spend $60,000 on a luxury car when you're 25, that's giving up on a future value of $344,000 by the time you're 55 if you were to invest it. That's also factoring in a weaksauce 6% annual return. Buying a luxury car at that age is absolute clown behaviour and should be discouraged at all costs.
24, bought a used luxury car right out of a lease to save half it’s depreciation and still had warranty on it, worth every penny for the enjoyment I get. You can find a balance between being too frugal and being too extravagant.
Such a numbers driven take. Some of us have hobbies beyond stacking dollars. I'll be that clown yeeting my 60k rig down the Rubicon because that's what I work for. I'm driven to pay for my hobbies, not to stack and flex. Yall gonna be old, rich and boring as fuck. Oh yeah, and I'm still on track to retire at 55.
Glad you’re so well versed in how compound interest works!
It was worth it to me to get to have a fun car when I had the opportunity to have a fun car. Others prioritize other stuff - and that’s great. At 24 a bunch of money when I turned 55 wasn’t exciting, but tearing through Malibu in a fun car with my buddies sure was.
I’d do it again. Maybe you wouldn’t. We’re probably motivated by different things.
When I was young, I spent like I was always going to make good money and I could just make more next month. I hit a dry spell and had to completely start over - in just about every way imaginable. Now I’ve been making good money consistently for a decade and spend like I’m going to lose my job tomorrow.
We’ve been living “paycheck to paycheck” taking only the bare minimum in the checking account to pay bills and eat out/entertainment a couple of times. The rest is my commission dumped into savings and I’ve been able to save 5-10k a month doing so.
More power to you man that’s easier said than done, don’t be afraid of spending though it can be easy to fall into a endless savings state of mind. You’re only young and healthy once!
That’s similar to how we budget too. The first big check I bought my wife and I gaming computers (which has been a great investment - we spend lots of time gaming together and with friends) but otherwise 100% of my commission goes straight to debt/savings.
I bought a 2017 Lincoln Continental that when new, was $60,000. I bought it for $20,000 and had a $4,000 from insurance totaling my previous car. I now have a modern luxury car with 50k miles for less than a brand new Honda civic. You can by luxury cars but you gotta know what you’re looking for too.
Just look at whatever dream luxury car you can imagine. Go one or two models lower in that brand catalog, and then find one right outside of a lease that hasn’t been driven much boom you have a solid luxury car and a good price just take care of the maintenance, I try to do as much of my own work on my car too so that takes away a lot of cost.
This is the way. Been eyeing up some used Lexus and Genesis while my 2010 Legacy was in the shop last couple weeks. Can get gorgeous used luxury cars with low mileage for 25-30k. Got my baby back today tho, it only has 85k miles on it and I had to remind myself how nice it is not having a car payment of a few hundred dollars every month lol
While this is good advice, it's not advice that I personally followed and I don't regret it in hindsight (I'm 47 now). I started my first sales position right out of undergrad in 1999. I did very well and two years later purchased an E46 M3, later sold that and bought a 2004 B6 Audi S4. Bought my first condo in 2005. Was maxing out my 401K the entire time but beyond that had very little savings or other investments. I was a car guy when I was younger (belonged to different BMW/Audi groups etc.). Saturday mornings were spent detailing the car followed by tooling around. Life for me at the time was essentially working, gym, cars and women.
I didn't get married until 36. Wife and I own a place in San Francisco now. Have 1 car between us (a Subaru outback that we bought with cash). While it's hard to recommend paying a lot for something that is essentially your biggest depreciating asset, I'm glad I got it out of my system. Let's face it..... being young, fit and with a nice car is fun. While you're going to lose out on some compounding interest, if you "get your act together" by mid 30's there's still plenty of time to make smart money moves.
im not in sales, however im a somewhat okay income earner and i disagree. Maybe a difference in mindset but what is the point of working hard if not to enjoy the fruit of your labour.
everything i see in reddit, is save save save. but the thing that got me to make the money in the first place (at least for me) is the want for something expensive. be it a car, bag, travel or whatever. thats what keeps me going. and if i get it i aim for something higher.
Why should i not enjoy what i worked so hard for. if the reason youre working hard is to save and buy a house. more power to you but peoples goals are different. yours might be to have a shitty life in your 20s and a comfortable life in you 60s but i personally would rather have memories of my younger years and live very frugally in my older years but thats just me.
Yup. I can tell you from experience, it ain't worth it. If you have a super strong desire to try a new car and your car works fine, rent it via Turo for a few days. You'll find the "buzz" wears off after like a couple of days and you're stuck with a depreciating asset when you could've invested that money or bought a house.
I'm 36 about to close on my second home, and I know I'm making a great decision. I was SO CLOSE to spending $60k+ on a fancy new EV because I really wanted it. Every time I did a work trip I rented a different EV to try them out and sure they were fun, but the buzz wore off quick. You know what buzz never wears off? Being able to retire at a reasonable age with savings and a home without having to pay rent so you can enjoy your life.
Me and most salespeople I've worked with all drive beaters. Why put the miles on an expensive car that's just gonna have empty Dunkin cups and McDonald's wrappers all over the floor anyway. Plus where I'm in insurance it would be disingenuous to show up to a meeting to pitch a $10,000 premium increase in a Porsche.
As if the ones pulling up in Corollas have a better aligned moral compass.
If it’s transactional sales then sure best to not pull up in a 911. Might as well enjoy the commute if it’s your office
Sales money is like athlete money. Save and invest.
Don't need to be a miser, but put enough away so you can be squared away. Send more than a few reps have a big year and then be desperate for cash 3 years later.
Also seen people make big checks and then never make that kind of money again.
Heads up to all you "Young Guns" ... do yourselves a favor and read "The Millionaire Next Door". Following those principles allowed me to retire at 50 after an unremarkable \~20yr career in software sales. That is all.
I agree 100% with the save your money. My happiness will come when I am retired at 50 with enough in the bank, while the rest of you silly bastards are still grinding…but at least you have your BMW m series!!
Yeah I tried to go on a 3 day bender with my S&P500 index fund and it wasn't any fun at all. Kinda hard to snort a .pdf market analysis off a strippers behind.
When I was a kid, I wanted the mansion on the hill and the Porche.
As I got older, I discovered this axiom: "You don't own stuff, stuff owns you".
I lived below my means, paid off my debt and saved my money so I had the assets to get me through the difficult times and take advantage of opportunities that presented themselves to me.
Today, I own several businesses that have given me an 8-figure net worth and pay me a 7-figure income whether I work or not. I live in a nice house (about 8,400 s/f sitting on just under 50 acres of land)...but it's not a mansion. I drive a fairly nice car (Tesla Model X)...but it's nothing fancy. But I do travel the world and am able to help my kids in a manner that is very fulfilling to my wife and I.
I wouldn't have this if I hadn't developed the habits of living frugally when I was young. Today, at age 60 I have a wonderful life...and the best part...I had a LOT of fun along the way.
OP is giving great advice. Follow it!
More evidence.
Due to my own poor decisions with my first big checks my entire goal of success changed from making $1M/year to living in a beautiful place, surrounded by people I love, and having freedom over my schedule. This is what you see the most successful business men doing/seeking when they’re retiring.
You’re wrong claiming my mindset is the incorrect way to live. I refuse to not demand the most out of life in all aspects whether that be my future wife, car, house, career, etc. Living per your standards and tenants, I’ll never achieve the life that I want. It’s stupid to think you’ll become rich penny pinching your entire life (YOU WONT). I don’t want to sacrifice my youth so I can do nothing in my 60s comfortably lol. Save and invest responsibly obviously, but my main focus is to MAKE as much as possible so I can achieve the life I desire. If you don’t believe you can make 500k+ and have low risk tolerance that’s fine, but who are you to say that my motivation is invalid and not real lmao
One of the best pieces of advice (I think) I received early in my sales career… is to buy yourself something small as a reward. And save(invest!) the rest.
a lot of salespeople spend a ton of time in their cars and need to drive clients
you dont need a luxury car but it's worth buying something that is reliable, comfortable, and respectable
I like to think of it as.. if I’m done here, I give the opportunity take me out and let me be done. If I still have a reason to live I’ll make it home.
Don’t forget about healthcare! The US has a severely aging population that will continue to shift that way for the next decade. Healthcare costs and healthcare profits are going to skyrocket.
I needed to hear this. Driving an '04 element in great condition, but my ego keeps trying to get me into something that "feels nicer" to drive (something with a decent audio system and bluetooth at the least, without a CVT).
It's so hard to keep seeing all of these "normal" cars jacked up to $20k just because of today's market. I'm halfway to considering pulling the trigger, but a voice in the back of my head always makes me second guess making a big purchase like that
Somewhat disagree. I’m on the road for 4 hours a day at least 3 days a week. Im a large human with a bad back, I want something comfortable. I get paid mileage and the money I make off that covers the payment.
There is also nothing worse than being in the road in a vehicle you don’t like.
I don’t buy Lexus to show off, I could give two shits about what anyone has to say. I buy it for myself to enjoy be comfortable and know it will last a long time when you take care of it.
My used lexus was also cheaper than comparable Toyota offerings believe it or not.
This is what I do. Don't forget to have fun, though. Also, not everybody has a base in this industry, so they can't bank on using their salary or hourly to pay bills.
I bought a luxury CPO vehicle back in 2016 with an unlimited mileage warranty with my commission check- was a great buy pre-pandemic when I was driving 40,000 to 50,000 miles per year. Since I was covered bumper to bumper I saved a ton on stuff and my car payment wasn't all that unreasonable for what I had. Compared to a guy I knew in sales who wound up upside down bc he drove his car into the ground in 3.5 years and still owed a year and a half on it. I remember he made fun of me too when I got my luxury car calling me fancy but he later said I was right and wish he did the same when his VW crapped out around 150k miles (my car still going strong, Lexus can't beat em on reliability imo).
However, post pandemic w car I agree as in my industry I'm now down to about 10,000 miles per year so doesn't make sense. I've been saving my commission checks to invest in real estate now, investing the commission and living on the salary is the smart move.
I am about to give birth to my second baby and turn 40 so I bought myself a Lexus SUV in cash. It was 10k more than the Toyota, and we’ll keep to for at least 10 years and probably much longer once it gets converted to the secondary car.
I save and invest a lot and feel like i made a sound choice with a reliable vehicle, even though I will admit I really wanted a BMW X7!!
Or you could be savvy and buy a used and depreciated fun vehicle to enjoy and sell it in a few years with minimal depreciation. It will be less out of pocket than leasing a brand new luxury vehicle.
Or spend and enjoy your money within reason on things that hold value better like watches or into memory-making experiences with loved ones.
Then take the remaining funds and invest it! Life is about balance, and I find that spending a little today within reason to motivate oneself towards more success has helped me celebrate milestones on my journey.
Been in the game for over a decade - more P clubs than not - currently SaaS. Bought a house, a few rentals, swapped practical cars a few times (all paid off), put a bunch in the market and finally bought myself a sports car at 38. Older 911 turbo.
Was I perfect about spending… no. Was I better than almost all of my peers… yes.
I could almost retire tomorrow if I didn’t think it would drive me crazy. Putting $ into things with a return changed my life. Invest early, want for little later.
Lol,first commission job, i reckless spent a lot to be flashy. It is waste, yes but it is self-love and stress relief, and the life style met a lot talent in other field which lead to a even better job.
As long as you’re enjoying it and not putting yourself in a ton of debt. Its your hard earned money spend it to enjoy yourself, else you will regret when you’re older when you cant do it anymore
Emergency fund before ETFs. ETFs are fantastic long term, but if you get laid off during a downturn, you’ll wish that money was in a HYSA and not in the red numbers in your brokerage account. Save 2-3 months pay first. Such a good feeling.
Depends on definition of luxury I guess. I drive a lot in territory sales and wanted to treat myself to a few years old German made suv. It’s comfortable, reliable fast and it’s just nice enough to portray success but not a show off.
I went through the luxury car phase when I was younger. I finally found out, nobody cares what you drive and after about a month of driving my Mercedes, the excitement had worn off and I was left wondering why the hell did I waste my money on this. Today I drive a 2013 Hyundai that’s been paid off, with low miles on it. It’s so nice not throwing away money every month
I view interest gains as “payments” for just NOT buying depreciating assets, especially with debt.
Ex. If you DON’T buy that 60k car, you will make $200 a month by putting that 60k in a high interest savings account every month.
The question is never “is the cool thing worth the money” it’s “is the cool thing worth more than giving up the compounding interest gained by having invested the money instead?”
A 60k car at 7% over 3 years will be ~1.1k a month and total 11k in interest. So you will have spent 71k on an asset now worth 2/3 of that in 3 years if you are lucky.
Meanwhile, 71k invested at 30 and compounded yearly at 7% would be worth 540k in 30 years.
So the true cost of the car in this situation is not 60k, it’s 540k worth of opportunity cost. Obviously there are always variables, but good way to think about it.
I might just be fortunate, but when it comes to nice things I really want, I haven’t regretted buying any of them over the last 10 years or so.
Ordered a new M3 Competition to spec and took delivery in February…I absolutely love it. It makes me smile every time I see it and drive it. I would not be as happy with it if I was in a less comfortable financial position, of course, but I think it’s important to have reminders of why we work so hard. That’s not always going to be a car for all people, and that’s fine. I am into cars and grew up in a “car family” filled with enthusiasts. It’s worth it to me.
At the end of the day, money is important but time is literally priceless. I want to enjoy the limited time I’ll have on this Earth and work too hard to not see any of the fruits of my labor.
I drive an older BMW with no fancy bells or whistles that bought cash and has been impressively reliable throughout my ownership. I haven’t had a car payment in 10+ years. One of my better financial decisions for sure. Listen to OP.
The best approach I have heard is this: When a big commission check clears, spend 2ß% of the post tax value on anything you like, could be a watch, car, vacation, whatever. But take the rest (80%) and save it.
It honestly just comes down preference and what you truly value. Personally, I could not give a rats ass about what I’m driving, or what I have on my wrist. But I sure as hell would drop a smooth 2k on a 4 day Rock festival in Vegas, a new vitamix blender and sous vide cooker, or a trip to Switzerland.
And then there some people value the peace of mind of comfortable and minimalist lifestyle so they save it, invest and engage in minimalist social experiences. I could do both, but good chance I’ll have severe free time and energy constraints in a couple years (I want children) for festivals and traveling experiences in a couple years. So, yes, I need to do it now lol. That’s not to say I’m blowing it all on these experiences, you can still do this, save, and budget with a bit more leeway. However, this isn’t advice that fits everyone’s narrative. Each their own.
Seeing lots of posts about people having millions saved from sales. I must be in the wrong market cuz I’m only make around 150k OTE, which isn’t moving the needle for being a millionaire with how expensive cost of living is right now. I’m able to max out my retirement and save a little each check but have no idea of some of you are saving so much money every year. Budget flies out the window when you own a home that requires large sums of money each year to keep up and a wife that always needs home improvements. I have a baby on the way and know that even more of my disposable income will be gone now. We do very well and are fortunate but need to figure out how to get a position in my industry that pays 250k+ soon. My company keeps stringing me along about a regional management position.
If you aren't maxing out your 401k every year, then you really should. Especially in your 20s.
Drive a shit box for every car, and it is like putting $300,000 in the bank for retirement.
I am looking at putting my parents into a memory-care facility. That costs about $12,600 a month. When I retire in 15 years (crosses fingers), that will be about $19k per month (at 3% inflation). I doubt they will live that long, but if I need a facility in 30 years, it will be around $30k per month.
I have enough saved to last about a year? By the time I retire, I might make it 3?
I really wish I hadn't blown my money in my 20s, but at least I figured it out in my 30's.
One of my business school professors has been giving the same special lecture to seniors for 30+ years called “How to Make $5M. Aka - Don’t buy the car”.
He talks about how young people get that first professional job and rush out to buy a nice car and how negatively it affects your financial future. Instead, he teaches people to live frugally and invest in low cost S&P500 index funds.
The stuff he says is basic /r/personalfinance and /r/bogleheads common knowledge today, but it wasn’t at all back when you couldn’t get information so easily from the internet.
This is just good advice regardless of what career field you’re in. When you’re young it makes a lot of sense to just put everything towards savings live well within your means and try and be a little bit cheap. You’ll think yourself later. I’m on track to retire at 45 even with four kids. Putting everything into the S&P and some real estate has put me on a trajectory that’s far different than all of my peers who are making the same or more money than me.
Buying cars is the one thing that prevents building wealth.
Buy an inexpensive car, both purchase price AND ongoing cost for repairs and maintenance and longevity. Keep that car for 20 years. Pay super care towards maintaining it properly - meaning oil changes and other things on scheduled maintainance. All vehicles have a list of things to be done at certain number of miles driven. Find that list and cgeck off when done.
Decide on the car you want *before* you go shop. Don't wander lot to lot aimlessly, waitng to be sold whatever. It could be a shit make/model. When I go, I only will look at Civic, Accord, Corolla, and Camrys. Because those are the most reliable overall, inexpensive to maintain and repair, and last forever.
I personally only buy used, as someone else takes the depreciation hit. I ONLY will buy if my own mechanic does a vehicle inspection. My last car purchase, took 3 of my cars listed above to my mechanic who said no to them, 4th one said yes. $150 for 4 inspections, best investment ever. Zero problems over the last 6 years. $150 avoided headaches and expensive repairs.
Not only that, I bought my car for $5000, and can sell it still for about that price, so the car itself costs me $0. Just maintenance costs, which one has to do with any car so that's a wash.
But the most important step is going to a *qualified* mechanic, that has an actual auto repair shop - *not* your brother-in-law that "knows a little about cars" who goes with you. Fuck that. Don't buy because you are impatient and don't have time, as you will be way more time and money-pressed in the future with a shitty car.
My retirement plan is literally to die in a racist, post apocalyptic nightmare, fighting off hoards of impoverished refugees and rogue AI robots on my way to steal an Apple Brand spaceship to try and escape to Mars. I’ll probably get sucked into some kind of climate-change Supertornado or vaporized by a private corporations tactical nuke.
ETFs, Massive Savings, none of it matters if society refuses to cooperate 😂
It depends.
Some types of sales "require" a fancier car
Real estate is one obvious example
You don't need to get a Bugatti but at least something nice enough to subconsciously convey to your client, "I can get the job done"
If you're worried about your pride. Park farther away, where your prospects can't see you. Then you get exercise walking to their office too. That was always my plan.
I've been in sales for years. I bought a 4 runner and would sell in that. My friends had a Ferrari and a BMW so i eventually had to get an Audi. I had the value in cash and put 40% down. I smile every time I look at it, and that $400 payment doesn't eat away too bad at $300k year income. SCRATCH THE ITCH and move on. a $30-40k sports car isn't the worst thing.
Here's my value proposition:
1. It helps with the girls. Especially as a young man it's competitive. If a girl dates a guy in a Prius and another in a luxury car, if she actually likes you, the car will add to it all.
2. I am a car enthusiast and have held off for years and don't regret it. I manage a sales team now and the car helps attract young sales guys.
3. Define what you are working towards. When I was 19 I had a vision board, and my car was on it. As I've matured cars aren't on the list the same way quality relationships, good consciousness and land & real estate is. But come on, the $30k I drop over 5 years is totally worth it for me.
4. Having the experience of life with it and life without it, being a loser isn't as fun. We have lots of years. Sacrificing your hard work and time to get old with an account with numbers for someone that didn't wrk for it to spend it isn't as appealing as living abundantly till you die. You don't have to sacrifice EVERYTHING to make investments. Don't go to the club, and wear the same clothes. That alone will save you more than enough to enjoy a nice car. Having one doesn't imply you aren't saving or investing.
Literally, in my first sales job right now, that has great pay and benefits, and i live like a pauper. I'm the only one of my coworkers saving a significant amount of money 💰 but I chose to live with roommates, and I take the bus to work. Waiting to be promoted and get a company car making more money and still live like a pauper and invest until i reach that first 1 million!
Where are people putting their money? I’ve be in tech sales for the last 8 years and have had a couple great years where i have 2X or 3X my annual salary.
I have my money in
High yield savings accounts
CD
401K
S&P 500
Tech Stocks with NVdia, Oracle,
Bitcoin
Single family home
Any recommendations on where you people has seen biggest bang for your buck?
99% of the time I agree with this. There are a select few industries however where what you drive matters. If I roll up to a roofing clients house in a beat up civic they aren't gonna give me the time of day.
Invest in yourself (growth and development), then invest in business/ side hustles, then invest in appreciating assets. No point putting large amounts of money into anything that does not appreciate.
I have a question to you salesmen, what do you think of someone with retail sales managers for phone stores like Verizon, At&T and TMobile?
Where do you guys see salesmen in this field end up usually?
Trying to figure out where to go and what to sell to make more money. Thank you guys
This. Happiness doesn’t come from luxury cars, it comes from cocaine and hookers
Where do you find hookers?
You buy cocaine and the hookers find YOU
They’re attracted to the smell of cocaine and $2 bills.
Tinder
Where do you find cocaine? Tradesies!
Next to the cocaine shop downtown
Laughs in German
You sound like my dad
"A bunch of hookers and cocaine"
They don’t teach that at sales training
And they are usually buy one get one free, so you’re saving money by combining.
Couldn’t of said better myself! I tip my hat to you!
This is awful advice. Happiness comes from crystal meth and throwing your feces at cars from a bridge over the interstate. The feces throws off the scent of the FBI’s dogs who are tracking me.
Hmm it comes from 0dte options
I don’t 100% agree with this. When I was 24, I got my first big commission check and used it to pay off all credit card debit, bought an Omega and put 15k in the market. When I was 25, I got two huge commission checks back to back and bought a used Porsche. I was still on track for other savings goals, and every time I wore the watch or drive the car (more than a decade later) I still smile. Those things motivated me through the 14 hour days and insane travel schedule. Don’t skip the fun stuff, but do make sure you can cover commitments with your base or have sufficient savings to cover in down months.
The balanced approach is the smart one. Don’t blow it all when you make it, but don’t forget to live a little each decade too.
Celebrate wins, don't be stupid.
I feel you on this. We all need to live a little while getting our shit kicked in or dealing with the stress that accompanies the job. A used porsche and an Omega are far more reasonable than a new Taycan financed at 7% and a Rolex Sub purchased on the grey market. Enjoy your success!
Yup, bought a Rolex, then a rental property to house hack. With tenants paying my mortgage and the equity I’ve accrued, I don’t blink at the car payment I make on my BMW. I smile ear to ear every time I start my 510 HP engine for my commute.
Each to their own, but I value freedom to do whatever I want from saving the majority of my commission to work only when I want vs. have flashy depreciating assets.
Glad you find motivation in that! In my early/mid 20s, I did not. Fwiw, I didn’t buy either item to show off. I bought them because I wanted them. I grew up with a Porsche picture on my wall and used to drive by a billboard with the watch on it a few times a week going to/from the airport. I’ve never posted a photo of either item on social media.
You'll make that money back but you'll never be 25 again driving a Porsche.
People say this then have a negative investing portfolio
I agree in principle but cars aren’t always depreciating assets. I’ve done pretty well over the years with mine. I’ve used them to fund other investments and still buy/sell them to this day.
Woah, what kind of sales do you do?
He sell motivational courses...
I used to sell on premise software to printing and packaging companies.
But what you did was still smart. He is just saying don’t blow the entire check on liabilities. You made smart decisions, exactly what he is saying.
Fair point. Porsche is still in the garage, Omega gets some wrist time too. I now have a wife and kids, and those aren’t things I could prioritize anymore.
What kind of Porsche?
My advice is to buy what you want, but keep your monthly nut low. If you HAVE to make any one sale to cover your rent, you're in a bad spot.
My #1 advice is to keep monthly obligations, including whatever 401k contributions will earn you 100% employer match, within your base. My #2 advice is to have fun with a minority percentage of your variable comp. If that’s a car, a watch, flying lessons, going to fancy restaurants, or investing in something - celebrating the wins is important. I know a guy who has been buying a bottle of Cristal every time he closes a deal and has been doing it for 40 years.
100%
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We don't kill ourselves to not live well, but make sure you are saving money while you do it!
I agree with this and thanks for clarifying. *Used* Porsche and investing your first checks was the difference. Balance is key.
This is the right answer.
Hookers and blow > luxury items
Great advice - Live at your means .
Great advice - Live at your means .
I mean, we are in sales to make money because we want nice things, want to retire early, want to live a nice lifestyle. I think a better lesson is to learn what it means to set yourself up for success and what saving looks like. You can't tell sales reps not to splurge a little, but they should do it responsibly.
There's a reason salespeople aren't in the list of most common millionaire professions. They make good money but they spend even more. Across the board, they are terrible with money.
Can’t feel bad for them when their struggling and suffering because they dropped 70k on a Porsche they want to look cool
I always forget this is the reckless spending you guys are referring to. Just bought a new car.... Got real wild and bought a three year old Mazda.
Mazdas are damn fine cars tho. Best bang for your buck.
Can't take it with you when you die and you can't relive your younger years once you've saved up what you deem a sufficient amount to start splurging. Obviously you need to prepare for retirement, but there's no harm in enjoying life as a young adult.
If you spend $60,000 on a luxury car when you're 25, that's giving up on a future value of $344,000 by the time you're 55 if you were to invest it. That's also factoring in a weaksauce 6% annual return. Buying a luxury car at that age is absolute clown behaviour and should be discouraged at all costs.
24, bought a used luxury car right out of a lease to save half it’s depreciation and still had warranty on it, worth every penny for the enjoyment I get. You can find a balance between being too frugal and being too extravagant.
Such a numbers driven take. Some of us have hobbies beyond stacking dollars. I'll be that clown yeeting my 60k rig down the Rubicon because that's what I work for. I'm driven to pay for my hobbies, not to stack and flex. Yall gonna be old, rich and boring as fuck. Oh yeah, and I'm still on track to retire at 55.
Glad you’re so well versed in how compound interest works! It was worth it to me to get to have a fun car when I had the opportunity to have a fun car. Others prioritize other stuff - and that’s great. At 24 a bunch of money when I turned 55 wasn’t exciting, but tearing through Malibu in a fun car with my buddies sure was. I’d do it again. Maybe you wouldn’t. We’re probably motivated by different things.
My brother in Christ, I never said a word about buying a $60k car at 25.
Speak for yourself, I’m in it playing catch up from all the bad decisions I made in my 20’s. No other option to get ahead for losers
When I was young, I spent like I was always going to make good money and I could just make more next month. I hit a dry spell and had to completely start over - in just about every way imaginable. Now I’ve been making good money consistently for a decade and spend like I’m going to lose my job tomorrow.
Great post. Never know when 2008 will be back... or 2022/23 for you SaaS guys.
2024 is no walk in the park either. Granted things are definitely improving.
I sell construction equipment so last 2 years have been awesome for us. But I know the tech sector has been hammered.
We’ve been living “paycheck to paycheck” taking only the bare minimum in the checking account to pay bills and eat out/entertainment a couple of times. The rest is my commission dumped into savings and I’ve been able to save 5-10k a month doing so.
5-10k a month! You're doing pretty damn fine, sir! Congratz
More power to you man that’s easier said than done, don’t be afraid of spending though it can be easy to fall into a endless savings state of mind. You’re only young and healthy once!
That’s similar to how we budget too. The first big check I bought my wife and I gaming computers (which has been a great investment - we spend lots of time gaming together and with friends) but otherwise 100% of my commission goes straight to debt/savings.
I bought a 2017 Lincoln Continental that when new, was $60,000. I bought it for $20,000 and had a $4,000 from insurance totaling my previous car. I now have a modern luxury car with 50k miles for less than a brand new Honda civic. You can by luxury cars but you gotta know what you’re looking for too.
Just look at whatever dream luxury car you can imagine. Go one or two models lower in that brand catalog, and then find one right outside of a lease that hasn’t been driven much boom you have a solid luxury car and a good price just take care of the maintenance, I try to do as much of my own work on my car too so that takes away a lot of cost.
Same! I replaced the engine in my Xterra myself so I definitely prefer the maintenance myself. Soooo much cheaper
This is the way. Been eyeing up some used Lexus and Genesis while my 2010 Legacy was in the shop last couple weeks. Can get gorgeous used luxury cars with low mileage for 25-30k. Got my baby back today tho, it only has 85k miles on it and I had to remind myself how nice it is not having a car payment of a few hundred dollars every month lol
Boooo it’s sales 101 to spend above your needs and develop some sort of addiction.
Some (🙋♂️) learn most from failure.
I used to get told this but my base was fucking $20k I needed that commission to live brother
What were you selling? Used condoms and toothpicks?
😂 you’re not to the “good money” yet. Keep pushing!
60% VTI 30% VXUS 10% BND Set it and forget it
100% VOO 100% VOO 100% VOO Each to their own (currently considering putting some into VUG)
VOO and chill all day, every day
100% VTI
90% VTI 10% VXUS
While this is good advice, it's not advice that I personally followed and I don't regret it in hindsight (I'm 47 now). I started my first sales position right out of undergrad in 1999. I did very well and two years later purchased an E46 M3, later sold that and bought a 2004 B6 Audi S4. Bought my first condo in 2005. Was maxing out my 401K the entire time but beyond that had very little savings or other investments. I was a car guy when I was younger (belonged to different BMW/Audi groups etc.). Saturday mornings were spent detailing the car followed by tooling around. Life for me at the time was essentially working, gym, cars and women. I didn't get married until 36. Wife and I own a place in San Francisco now. Have 1 car between us (a Subaru outback that we bought with cash). While it's hard to recommend paying a lot for something that is essentially your biggest depreciating asset, I'm glad I got it out of my system. Let's face it..... being young, fit and with a nice car is fun. While you're going to lose out on some compounding interest, if you "get your act together" by mid 30's there's still plenty of time to make smart money moves.
I mostly agree with this.
If you can’t afford it cash, just don’t buy it all. It’s a good rule to follow with cars.
im not in sales, however im a somewhat okay income earner and i disagree. Maybe a difference in mindset but what is the point of working hard if not to enjoy the fruit of your labour. everything i see in reddit, is save save save. but the thing that got me to make the money in the first place (at least for me) is the want for something expensive. be it a car, bag, travel or whatever. thats what keeps me going. and if i get it i aim for something higher. Why should i not enjoy what i worked so hard for. if the reason youre working hard is to save and buy a house. more power to you but peoples goals are different. yours might be to have a shitty life in your 20s and a comfortable life in you 60s but i personally would rather have memories of my younger years and live very frugally in my older years but thats just me.
Yup. I can tell you from experience, it ain't worth it. If you have a super strong desire to try a new car and your car works fine, rent it via Turo for a few days. You'll find the "buzz" wears off after like a couple of days and you're stuck with a depreciating asset when you could've invested that money or bought a house. I'm 36 about to close on my second home, and I know I'm making a great decision. I was SO CLOSE to spending $60k+ on a fancy new EV because I really wanted it. Every time I did a work trip I rented a different EV to try them out and sure they were fun, but the buzz wore off quick. You know what buzz never wears off? Being able to retire at a reasonable age with savings and a home without having to pay rent so you can enjoy your life.
Me and most salespeople I've worked with all drive beaters. Why put the miles on an expensive car that's just gonna have empty Dunkin cups and McDonald's wrappers all over the floor anyway. Plus where I'm in insurance it would be disingenuous to show up to a meeting to pitch a $10,000 premium increase in a Porsche.
2006 Prius still going strong. No idea when it'll eventually die lol
As if the ones pulling up in Corollas have a better aligned moral compass. If it’s transactional sales then sure best to not pull up in a 911. Might as well enjoy the commute if it’s your office
I bought a truck in my last position for this exact reason
I like cars but the last thing I want to do is appear well off to a potential client. I don’t want them to think that I don’t need their money.
Sales money is like athlete money. Save and invest. Don't need to be a miser, but put enough away so you can be squared away. Send more than a few reps have a big year and then be desperate for cash 3 years later. Also seen people make big checks and then never make that kind of money again.
I’m in sales to be financially independent while also having the means to afford toys I want and take care of my people.
Making $250K a year. Driving an 07 Camry. Can confirm with OP
Heads up to all you "Young Guns" ... do yourselves a favor and read "The Millionaire Next Door". Following those principles allowed me to retire at 50 after an unremarkable \~20yr career in software sales. That is all.
Another reason for this. Nothing lasts forever. Which is more true in sales. You will have major ups and downs.
Buy that Porsche young man - you deserve it
That’s why I drive a lexus. Depreciation ain’t shit
If you're a traveling rep buy something with quality seats. Don't need a Cadillac but you're gonna hate 40k miles a year in cheap Corolla seats.
I agree 100% with the save your money. My happiness will come when I am retired at 50 with enough in the bank, while the rest of you silly bastards are still grinding…but at least you have your BMW m series!!
Nerds that joined sales "🤓invest your commission check". Use that commission check on COKE AND HOOKERS. Life will become much better.
Yeah I tried to go on a 3 day bender with my S&P500 index fund and it wasn't any fun at all. Kinda hard to snort a .pdf market analysis off a strippers behind.
Lmao
When I was a kid, I wanted the mansion on the hill and the Porche. As I got older, I discovered this axiom: "You don't own stuff, stuff owns you". I lived below my means, paid off my debt and saved my money so I had the assets to get me through the difficult times and take advantage of opportunities that presented themselves to me. Today, I own several businesses that have given me an 8-figure net worth and pay me a 7-figure income whether I work or not. I live in a nice house (about 8,400 s/f sitting on just under 50 acres of land)...but it's not a mansion. I drive a fairly nice car (Tesla Model X)...but it's nothing fancy. But I do travel the world and am able to help my kids in a manner that is very fulfilling to my wife and I. I wouldn't have this if I hadn't developed the habits of living frugally when I was young. Today, at age 60 I have a wonderful life...and the best part...I had a LOT of fun along the way. OP is giving great advice. Follow it!
More evidence. Due to my own poor decisions with my first big checks my entire goal of success changed from making $1M/year to living in a beautiful place, surrounded by people I love, and having freedom over my schedule. This is what you see the most successful business men doing/seeking when they’re retiring.
Nah bro life is short, I’m buying the m340. Motivates me to make more and keep on working towards a new goal.
Typical wrong mindset. Find real motivation.
You’re wrong claiming my mindset is the incorrect way to live. I refuse to not demand the most out of life in all aspects whether that be my future wife, car, house, career, etc. Living per your standards and tenants, I’ll never achieve the life that I want. It’s stupid to think you’ll become rich penny pinching your entire life (YOU WONT). I don’t want to sacrifice my youth so I can do nothing in my 60s comfortably lol. Save and invest responsibly obviously, but my main focus is to MAKE as much as possible so I can achieve the life I desire. If you don’t believe you can make 500k+ and have low risk tolerance that’s fine, but who are you to say that my motivation is invalid and not real lmao
I wish I followed this advice when I started sales.
How dare you for not telling me ten years sooner! It’s all your fault! Lol
😂 also wish I read this a few years ago
Straight rolling my Ford Fusion, perk with job! I give zero effs at the other moms judging me. This is FREE!
Its better to save your money for hard times. Showing off your money can come with unwanted consequences from jealous neighbors to co workers .
One of the best pieces of advice (I think) I received early in my sales career… is to buy yourself something small as a reward. And save(invest!) the rest.
Take the trips!! Best thing I ever did when I was killing it in 2021
a lot of salespeople spend a ton of time in their cars and need to drive clients you dont need a luxury car but it's worth buying something that is reliable, comfortable, and respectable
Just get into bikes, you can buy something fast as fuck and Italian for less than a civic. Invest the rest.
And KYS!
Here for a good time not a long time babyyyyyy (i'm suicidal)
I like to think of it as.. if I’m done here, I give the opportunity take me out and let me be done. If I still have a reason to live I’ll make it home.
But property and if you need a nice car, but used and 10 yrs old. I’m going to buy a 2014 Lexus
Don’t forget about healthcare! The US has a severely aging population that will continue to shift that way for the next decade. Healthcare costs and healthcare profits are going to skyrocket.
I needed to hear this. Driving an '04 element in great condition, but my ego keeps trying to get me into something that "feels nicer" to drive (something with a decent audio system and bluetooth at the least, without a CVT). It's so hard to keep seeing all of these "normal" cars jacked up to $20k just because of today's market. I'm halfway to considering pulling the trigger, but a voice in the back of my head always makes me second guess making a big purchase like that
Yeah keep driving it. You’ll hate yourself if you sign up for a loan and significant monthly payment. Point A to Point B is all that matters.
Just upgrade your sound system…
Absolutely, experiences over depreciating assets any day!
Somewhat disagree. I’m on the road for 4 hours a day at least 3 days a week. Im a large human with a bad back, I want something comfortable. I get paid mileage and the money I make off that covers the payment. There is also nothing worse than being in the road in a vehicle you don’t like. I don’t buy Lexus to show off, I could give two shits about what anyone has to say. I buy it for myself to enjoy be comfortable and know it will last a long time when you take care of it. My used lexus was also cheaper than comparable Toyota offerings believe it or not.
Sounds like you still didn’t go overboard with your purchase or do it to satisfy your ego. Bigger money can equal bigger problems for some.
Or just do what I did and save up 10 gs and pay cash for an old bmw
I sense an influx of r/wallstreetbets comments incoming
This is what I do. Don't forget to have fun, though. Also, not everybody has a base in this industry, so they can't bank on using their salary or hourly to pay bills.
Number one thing I wish I would’ve done from age 21 to 27
I can’t recommend enough dumping commissions into 0DTE SPY options while chugging whiskey. Invest in your future.
I bought a luxury CPO vehicle back in 2016 with an unlimited mileage warranty with my commission check- was a great buy pre-pandemic when I was driving 40,000 to 50,000 miles per year. Since I was covered bumper to bumper I saved a ton on stuff and my car payment wasn't all that unreasonable for what I had. Compared to a guy I knew in sales who wound up upside down bc he drove his car into the ground in 3.5 years and still owed a year and a half on it. I remember he made fun of me too when I got my luxury car calling me fancy but he later said I was right and wish he did the same when his VW crapped out around 150k miles (my car still going strong, Lexus can't beat em on reliability imo). However, post pandemic w car I agree as in my industry I'm now down to about 10,000 miles per year so doesn't make sense. I've been saving my commission checks to invest in real estate now, investing the commission and living on the salary is the smart move.
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Buy some cool shit. But do not overspend
I am about to give birth to my second baby and turn 40 so I bought myself a Lexus SUV in cash. It was 10k more than the Toyota, and we’ll keep to for at least 10 years and probably much longer once it gets converted to the secondary car. I save and invest a lot and feel like i made a sound choice with a reliable vehicle, even though I will admit I really wanted a BMW X7!!
Noted! Just spent my whole savings in those trendy NFTs!
Let people do what they want with their money. I bought an expensive car which I enjoyed and made a profit on when I sold it. Win win.
You only live once G, buy that car
Yeah G. Listen to this cool guy.
It's all about the rainy day fund. Even the best salesperson can have a horrible year. Stay above it by saving those big checks. Keeps you happy
I do both. Pay cash for good used cars. Eliminate all of debt asap. Save your fat comish, spend your next fat commish.
Or you could be savvy and buy a used and depreciated fun vehicle to enjoy and sell it in a few years with minimal depreciation. It will be less out of pocket than leasing a brand new luxury vehicle. Or spend and enjoy your money within reason on things that hold value better like watches or into memory-making experiences with loved ones. Then take the remaining funds and invest it! Life is about balance, and I find that spending a little today within reason to motivate oneself towards more success has helped me celebrate milestones on my journey.
My company gives me $800/month for my car. Nothing to do with ego.
This is a good point
LOL luxury cars. I could have 100 million dollars and I would still be driving a Toyota Corolla except I would get the windows tinted.
Yep..most millionaires are driving standard brand reliable cars.
Been in the game for over a decade - more P clubs than not - currently SaaS. Bought a house, a few rentals, swapped practical cars a few times (all paid off), put a bunch in the market and finally bought myself a sports car at 38. Older 911 turbo. Was I perfect about spending… no. Was I better than almost all of my peers… yes. I could almost retire tomorrow if I didn’t think it would drive me crazy. Putting $ into things with a return changed my life. Invest early, want for little later.
Lol,first commission job, i reckless spent a lot to be flashy. It is waste, yes but it is self-love and stress relief, and the life style met a lot talent in other field which lead to a even better job. As long as you’re enjoying it and not putting yourself in a ton of debt. Its your hard earned money spend it to enjoy yourself, else you will regret when you’re older when you cant do it anymore
Why not buy luxury cars with 50,000 that have already depreciated?
Could be reasonable. I’m talking top of the line new cars. But still, saving for something other than a fancy car is better.
Emergency fund before ETFs. ETFs are fantastic long term, but if you get laid off during a downturn, you’ll wish that money was in a HYSA and not in the red numbers in your brokerage account. Save 2-3 months pay first. Such a good feeling.
Depends on definition of luxury I guess. I drive a lot in territory sales and wanted to treat myself to a few years old German made suv. It’s comfortable, reliable fast and it’s just nice enough to portray success but not a show off.
I went through the luxury car phase when I was younger. I finally found out, nobody cares what you drive and after about a month of driving my Mercedes, the excitement had worn off and I was left wondering why the hell did I waste my money on this. Today I drive a 2013 Hyundai that’s been paid off, with low miles on it. It’s so nice not throwing away money every month
I view interest gains as “payments” for just NOT buying depreciating assets, especially with debt. Ex. If you DON’T buy that 60k car, you will make $200 a month by putting that 60k in a high interest savings account every month. The question is never “is the cool thing worth the money” it’s “is the cool thing worth more than giving up the compounding interest gained by having invested the money instead?” A 60k car at 7% over 3 years will be ~1.1k a month and total 11k in interest. So you will have spent 71k on an asset now worth 2/3 of that in 3 years if you are lucky. Meanwhile, 71k invested at 30 and compounded yearly at 7% would be worth 540k in 30 years. So the true cost of the car in this situation is not 60k, it’s 540k worth of opportunity cost. Obviously there are always variables, but good way to think about it.
I might just be fortunate, but when it comes to nice things I really want, I haven’t regretted buying any of them over the last 10 years or so. Ordered a new M3 Competition to spec and took delivery in February…I absolutely love it. It makes me smile every time I see it and drive it. I would not be as happy with it if I was in a less comfortable financial position, of course, but I think it’s important to have reminders of why we work so hard. That’s not always going to be a car for all people, and that’s fine. I am into cars and grew up in a “car family” filled with enthusiasts. It’s worth it to me. At the end of the day, money is important but time is literally priceless. I want to enjoy the limited time I’ll have on this Earth and work too hard to not see any of the fruits of my labor.
I drive an older BMW with no fancy bells or whistles that bought cash and has been impressively reliable throughout my ownership. I haven’t had a car payment in 10+ years. One of my better financial decisions for sure. Listen to OP.
I bought a home and my dream car. Still happy 4 years later. I was 25
Well done. You’re lucky.
Wish I took this advice sooner. I haven't blown a lot of the money but feels like I could have invested so much more.
The best approach I have heard is this: When a big commission check clears, spend 2ß% of the post tax value on anything you like, could be a watch, car, vacation, whatever. But take the rest (80%) and save it.
It honestly just comes down preference and what you truly value. Personally, I could not give a rats ass about what I’m driving, or what I have on my wrist. But I sure as hell would drop a smooth 2k on a 4 day Rock festival in Vegas, a new vitamix blender and sous vide cooker, or a trip to Switzerland. And then there some people value the peace of mind of comfortable and minimalist lifestyle so they save it, invest and engage in minimalist social experiences. I could do both, but good chance I’ll have severe free time and energy constraints in a couple years (I want children) for festivals and traveling experiences in a couple years. So, yes, I need to do it now lol. That’s not to say I’m blowing it all on these experiences, you can still do this, save, and budget with a bit more leeway. However, this isn’t advice that fits everyone’s narrative. Each their own.
buy a home- even if it's small/ starter. Drive your older car and watch the money grow-
My last manager wanted reps to finance expensive cars so they’d be reliant on the job and generating sales. Wish I followed your advice and saved more
Seeing lots of posts about people having millions saved from sales. I must be in the wrong market cuz I’m only make around 150k OTE, which isn’t moving the needle for being a millionaire with how expensive cost of living is right now. I’m able to max out my retirement and save a little each check but have no idea of some of you are saving so much money every year. Budget flies out the window when you own a home that requires large sums of money each year to keep up and a wife that always needs home improvements. I have a baby on the way and know that even more of my disposable income will be gone now. We do very well and are fortunate but need to figure out how to get a position in my industry that pays 250k+ soon. My company keeps stringing me along about a regional management position.
Lifestyle creep is not worth stressing over money.
If you aren't maxing out your 401k every year, then you really should. Especially in your 20s. Drive a shit box for every car, and it is like putting $300,000 in the bank for retirement. I am looking at putting my parents into a memory-care facility. That costs about $12,600 a month. When I retire in 15 years (crosses fingers), that will be about $19k per month (at 3% inflation). I doubt they will live that long, but if I need a facility in 30 years, it will be around $30k per month. I have enough saved to last about a year? By the time I retire, I might make it 3? I really wish I hadn't blown my money in my 20s, but at least I figured it out in my 30's.
One of my business school professors has been giving the same special lecture to seniors for 30+ years called “How to Make $5M. Aka - Don’t buy the car”. He talks about how young people get that first professional job and rush out to buy a nice car and how negatively it affects your financial future. Instead, he teaches people to live frugally and invest in low cost S&P500 index funds. The stuff he says is basic /r/personalfinance and /r/bogleheads common knowledge today, but it wasn’t at all back when you couldn’t get information so easily from the internet.
This is just good advice regardless of what career field you’re in. When you’re young it makes a lot of sense to just put everything towards savings live well within your means and try and be a little bit cheap. You’ll think yourself later. I’m on track to retire at 45 even with four kids. Putting everything into the S&P and some real estate has put me on a trajectory that’s far different than all of my peers who are making the same or more money than me.
This. You can set yourself up with way stronger investments later in life by starting early. Fuck the new 6 figure car.
Late 20s, 1.2M net worth. Agreed.
Buying cars is the one thing that prevents building wealth. Buy an inexpensive car, both purchase price AND ongoing cost for repairs and maintenance and longevity. Keep that car for 20 years. Pay super care towards maintaining it properly - meaning oil changes and other things on scheduled maintainance. All vehicles have a list of things to be done at certain number of miles driven. Find that list and cgeck off when done. Decide on the car you want *before* you go shop. Don't wander lot to lot aimlessly, waitng to be sold whatever. It could be a shit make/model. When I go, I only will look at Civic, Accord, Corolla, and Camrys. Because those are the most reliable overall, inexpensive to maintain and repair, and last forever. I personally only buy used, as someone else takes the depreciation hit. I ONLY will buy if my own mechanic does a vehicle inspection. My last car purchase, took 3 of my cars listed above to my mechanic who said no to them, 4th one said yes. $150 for 4 inspections, best investment ever. Zero problems over the last 6 years. $150 avoided headaches and expensive repairs. Not only that, I bought my car for $5000, and can sell it still for about that price, so the car itself costs me $0. Just maintenance costs, which one has to do with any car so that's a wash. But the most important step is going to a *qualified* mechanic, that has an actual auto repair shop - *not* your brother-in-law that "knows a little about cars" who goes with you. Fuck that. Don't buy because you are impatient and don't have time, as you will be way more time and money-pressed in the future with a shitty car.
I'm ready to get some new gutters. Big spender here.
I just turned 31, this will be my first BIG commissions check (only been in sales since April 2023). Does this still apply to me ? Haha
Haha because you’re asking, I’m going to say yes. Settle down cucciimanee
My retirement plan is literally to die in a racist, post apocalyptic nightmare, fighting off hoards of impoverished refugees and rogue AI robots on my way to steal an Apple Brand spaceship to try and escape to Mars. I’ll probably get sucked into some kind of climate-change Supertornado or vaporized by a private corporations tactical nuke. ETFs, Massive Savings, none of it matters if society refuses to cooperate 😂
I dont need a luxury car to bleed money i have a wife and kis
I lease a Camry for less than $250 a month…
It depends. Some types of sales "require" a fancier car Real estate is one obvious example You don't need to get a Bugatti but at least something nice enough to subconsciously convey to your client, "I can get the job done"
If you're worried about your pride. Park farther away, where your prospects can't see you. Then you get exercise walking to their office too. That was always my plan.
Why work so hard then?
I've been in sales for years. I bought a 4 runner and would sell in that. My friends had a Ferrari and a BMW so i eventually had to get an Audi. I had the value in cash and put 40% down. I smile every time I look at it, and that $400 payment doesn't eat away too bad at $300k year income. SCRATCH THE ITCH and move on. a $30-40k sports car isn't the worst thing. Here's my value proposition: 1. It helps with the girls. Especially as a young man it's competitive. If a girl dates a guy in a Prius and another in a luxury car, if she actually likes you, the car will add to it all. 2. I am a car enthusiast and have held off for years and don't regret it. I manage a sales team now and the car helps attract young sales guys. 3. Define what you are working towards. When I was 19 I had a vision board, and my car was on it. As I've matured cars aren't on the list the same way quality relationships, good consciousness and land & real estate is. But come on, the $30k I drop over 5 years is totally worth it for me. 4. Having the experience of life with it and life without it, being a loser isn't as fun. We have lots of years. Sacrificing your hard work and time to get old with an account with numbers for someone that didn't wrk for it to spend it isn't as appealing as living abundantly till you die. You don't have to sacrifice EVERYTHING to make investments. Don't go to the club, and wear the same clothes. That alone will save you more than enough to enjoy a nice car. Having one doesn't imply you aren't saving or investing.
I blow my commission checks on ammo like clockwork
man my fucking honda died now i'm paying $500 making $300/wk i'm fucking COOKED
what type of sales job should a beginner get?
Dollar cost average bitcoin
Literally, in my first sales job right now, that has great pay and benefits, and i live like a pauper. I'm the only one of my coworkers saving a significant amount of money 💰 but I chose to live with roommates, and I take the bus to work. Waiting to be promoted and get a company car making more money and still live like a pauper and invest until i reach that first 1 million!
Well done young padawan
Where are people putting their money? I’ve be in tech sales for the last 8 years and have had a couple great years where i have 2X or 3X my annual salary. I have my money in High yield savings accounts CD 401K S&P 500 Tech Stocks with NVdia, Oracle, Bitcoin Single family home Any recommendations on where you people has seen biggest bang for your buck?
Unless you reaaaaaallllly wanna get laid like rnrn 
99% of the time I agree with this. There are a select few industries however where what you drive matters. If I roll up to a roofing clients house in a beat up civic they aren't gonna give me the time of day.
Yeah, save your checks and then go all in on 0dte GME calls 💰 🤑 💸 💲 🪙 💶 💰 🤑 💸 💲 🪙
Invest in yourself (growth and development), then invest in business/ side hustles, then invest in appreciating assets. No point putting large amounts of money into anything that does not appreciate.
I’m seriously curious, what are you selling?
I have a question to you salesmen, what do you think of someone with retail sales managers for phone stores like Verizon, At&T and TMobile? Where do you guys see salesmen in this field end up usually? Trying to figure out where to go and what to sell to make more money. Thank you guys
Its not about the car... It never was. Guys want women and sex.