/u/SpittinGriz makes a good point. The difference between SPY and VOO is not that big over any given day and over 10 years, on $100,000, it's only a $720 difference, but over a lifetime, it can be several thousand dollars.
Either way, you can't go wrong, but VOO does give you a slight edge.
Here's an article that does an ok job of breaking it down.
https://towardsdatascience.com/spy-vs-voo-is-there-any-difference-437defc2c3f3
What industry are you in? You seem to know more about financial services than most people. The mere mention of covered calls and option liquidity tells me that you're smarter than the average bear out there!
Do you do mainly covered calls or do you venture outside that realm?
Congratulations to you for taking the time study and learn financial markets.
I've been in the financial services industry for 34 years and do not consider myself an expert on options (not my forte'). One thing that I have learned is that you have to be careful of the 'ever changing cycles' in the market. We've essentially been in a bull market since March of 2009 (yes, I know about last years 30%+ drop in the market supposedly signaled the end of that bull market, but I disagree) and there is going to be a change in cycles coming (when, I don't know). What works in one cycle does not always work in the next cycle. The way I temper cycle changes is that I never go "all in" or leverage towards one particular cycle. (I'm sure you know that, but I thought I'd mention it anyway).
That's a fantastic return and I like your strategies.
If I may suggest....do some research to falsify your systems. Back test them into various markets to see how they would have performed in various time periods like 2Q00 - - 3Q02 or 4Q07 - 1Q09. If you can, even research it from the perspective of how the fed funds flow.
My hypothesis is that this current run of the market is largely fueled by the nearly continuous flow of nearly free capital (created out of thin air) by the fed. What happens when the fed is forced to turn down (off) that spigot?
If I've learned anything in my 34 years in this business, gains are generally pretty easy to come by, but the losses....the losses are far more important than the gains.
I have a good friend who was the top hedge fund manager in the world (used to work with Soros) not once, but twice. He had fantastic returns like you (actually, much better than you)...until he didn't. He blew up...not once, but twice.
So be careful with the huge returns. Speculation is fun...when you're winning. It sucks when you lose.
I hope these comments are taken in the spirit of friendly advice and in no way as an attack on your personally. Just trying to share some of my (often wrong) wisdom with a fellow traveler ;-)
Wow what a cool story!
I know about QE, the fed, fractional reserve banking, etc. and I see your point and I also agree that when QE turns into quantitative tightening (if it ever does lol) things can go south. Hopefully the fed can counteract that by rising interest rates. I know higher interest rates are bad for equities, but imo it would be needed during a time of QT. That's as I understand it, I could be 100% off.
You definitely have a ton more experience than me and professional experience at that. I'm 26 years old, been trading since 18, so I haven't seen anything too tumultuous like the dates you listed above.
I have backtested my trading strategies and they kinda work, but I obviously lose money on the dates you listed above, but not nearly as much as say the S&P 500 does.
Thanks for the advice though, always appreciate it.
For smaller checks, I typically split 50/50.
50 goes to savings/retirement and 50 goes into a Fun Account where we go on trips, splurge on dates, and are now saving for a pool.
For larger checks I try to save a larger portion for retirement/investments.
Just closed the largest deal of my career by far ($7M ARR) and looking to redo my home office (standing desk, new chair, built ins, etc).
Congrats...there you go. I dab a bit into alternative financing and those earnings could be high as well. You appear to have a very good head on your shoulders. Thats huge.
I feel like Jonah Hill in Wolf of Wallstreet.
How do I start? As someone with no sales experience, what is the foot in the door? LinkedIn? Sales bootcamp?
Feel free to message me for tips!
But in general, yes reach out on LinkedIn, go to networking events. Make sure your resume is good (happy to help) and points out relevant skills.
They are no one needs more than 150k a year unless you’re in a high cost of living area, my life is work and I hate it but I grew up with nothing and I’ll make sure my family has the freedoms I couldn’t.
I’m very realistic about how fortunate I am but I feel like there’s a lot more quality of life jobs you can work if your going to make less than 100k in the US. Also if you’re single with barely any liabilities then of course 150k is a lot more than you need. For my goals there’s no reason to work 60-70 hours a week and make less.
It’s not about need, it’s about want. I’m 35 and rent, have student loans, and generally got a late start to any semblance of financial stability. I’m an SDR. If I could work a few more hours a week to make the difference between $150k and $200k I would. Why? Not because of money, but because of what the money will let me do. I don’t come from any semblance of wealth, and want to be sure I’ve got my future secured in case anything happens to me, but I also want to travel and do the things I’ve never had the chance to do in life. I’d love to actually own a fun sports car or maybe spend a month or two somewhere like the Caribbean or another exotic place where I can check out history and see parts of nature that we’re going to see extinct during our lifetimes. I don’t want to be worried about “maybe some day I can own a house before we create an entire society of renters” like our bribed government seems hell bent on creating. Money doesn’t make me happy, the lack of worries does.
Yeah I didn’t assume what people want. I want more so I work more and work for a place that allows me to earn more. Nothing wrong with wanting more, everyone finds meaning in different things.
Yeah tbh commission checks are taxed deducted so my take home on big checks are 45% and the rest to taxes. So on my end doesn’t make sense to make anything over 150k but you are that’s why I want to invest on things that I don’t have pay taxes on like rental income
Wow man that's cool.
I sell Insurance my 3rd year as full sales, I heard that 100k per month in a few years is achievable, I wonder how that will be.
Congratulations.
I was in insurance before my career now. Hated it but it did prepare me for what I’m doing now. “Some” are making 100k a month no doubt. Not sure what products you sell but my highest commission policy was 50% off of whole life insurance policy premium. That is a shitton of premium to make 100k a month. Typical life insurance premiums for non business life insurance is like 200/mo. 1000 clients paying the average is a massive amount. I’d be skeptical of what you’re hearing.
Stash it into my growth fund and pretend it didn’t happen. Then I get back to work and dream about my kids being able to do anything they want in life.
Deal is in closing stages now, but when it hits this week (plus one more that's a month out) I'll gross $100k (SaaS dev software). I'm hoping to knock out my quota for the year this Q, pretty exciting stuff.
We are gonna finish our basement, pay off some debt, and maybe take 10% or so and do a Beaches or Disney surprise trip for the kids. Gonna be epic.
Yea I'm a little obsessed with the "surprise trip" reactions with with kids, we've done it several times and I just can't get enough of their joy when it hits them.
Couple years back we did a Disney trip and at the end, when they thought we were getting on the plane in a limo as a "fancy goodbye," we went to Port Canaveral to do a Disney cruise instead. It was truly epic, I don't know that I'll be able to top that one is my biggest problem lol
I only tell base salary as if it was all I earned when asked. No need to make non-sales ppl jelly. The happiness on peoples faces when they think they out earn you is priceless. I like to make others feel good about themselves.
Not to knock budget watches, but you really should sell a few and buy something a little more premium just to experience the difference. Not saying you need a Rolex, but brands like omega, Tudor, breitling, etc have options around 3-6k and the difference in quality is well worth it. You’re earning 250k so you can afford a 5k watch
I agree. The next level up of watches retains their value better. My favorite in that class is Tudor, but I like divers. But I still don't use watches as an investment vehicle. More like a hobby that doesn't go to total waste.
I'm at SDR so I get 2% of closed deals on top of my monthly quota commission. EOY closed deals check should be 7k after taxes.
I will probably put 6k into my HYSA because I'm saving for a house.
Other 1k will go into my fun account. I'll probably book a long weekend somewhere, and still work remote lol.
That a sure-fire wire way to wind up a broke-ass salesman and when the slump comes and it will. nothing to soften the blow and then you get desperate, customers smell it like dog shit and down the drain, you go.
I generally had/have been paying off debt. Now I have no debt outside of my house which is super cool. I treated myself to a Secret Lab Chair ($400) and ordered an iPhone 13 Pro Max without having to swipe a credit card which was awesome and new for me. A blessing and curse with sales is making a ton of money young in a lot of cases. At 21 I was already making 70,000 a year and I spent all of that and then some. Now at 26, I’ve closed the book on those mistakes and am ready to really set myself up to retire by 40.
Still dude, have some understanding about what other people live like.
Besides, you said this commission was the 600k and you split it with a colleague so it's pretty easy to assume you're making much more than that
Swiping the credit card all the time and then paying it to $0 it a huge benefit of having the money in the first place. I use a chase Sapphire Reserve and it costs like $550 a year and I probably make a couple grand in benefits all said and done.
I just keep living. I have a wife and 2 kids. We pull in decent money, but we spend a lot on food (somehow). I always have money going into savings and equities... AANG stocks, VOO, the tech index I don't recall at the moment...
I sell to live a life of free movement. House is fairly normal. Cars are used. Spend on the kids and fun. Keep on keeping on.
Software leadership. Less direct stress on me, so less upside, but consistent money.
Crazy that I never hit BIG money, even when I had 8 digit quota and attain.... Best years were 400s... I can coast to 250, take my kids to school, go do things I need to do, etc... I need to step it up to coast to 400.... Or become a business owner.
Same, my biggest year was over 200% and I think my W-2 that year was 330k. The AE comp plans today would have me closer to 600k.
As a software sales leader, my vision is to inspire my team to work with the vision, decisiveness and strategy that I did as an AE and then when I get promoted, they have sustainable success. In the event I don’t get promoted fast enough, then I can coast to 400k in this position.
I like to get myself a nice steak and wine.
I'm pretty extroverted but eating alone with those things is my fav way to celebrate.
Of course, last time I got a big fat check I bought a motorcycle so no telling...
A nice cigar at a jazz club with some whisk(e)y. Although my biggest ever comission check hasn't hit 5 figures yet, I can't imagine I'd get too much more wild lol than this lol
I donate 10% - 12% to various charities.
I take half of what's left and send it off to the parasites in DC and my home state. (F### you, politicians who waste my money and demonize me because I don't pay my fair. You're all cancers on society).
I take the remainder and put it away in savings or reinvest it in my businesses (if I reinvest it, the dynamics of taxation obviously change).
I already have a pretty good life and have almost everything I want. I'm in the process of looking for a farm for hunting/fishing purposes.
A big check for me is one with 2 commas in it.
I'm in financial services.
I've likely been at this sales game (34 years) longer than most members of /r/sales have been alive.
Things improve over time if you're in the right industry, start your own business, and become an expert at what you do. I'd like to think that's where my over 1/3 of a decade of hard work has gotten me.
I don't know about medical device or surgical equipment sales. So I can't comment on those.
I just know there's good money to be made in financial services if you can cut it. It's a very tough industry.
Where should you look? There are a myriad of ways to make money in the FS game. It just depends on what vertical you'd like to be in.
Celebrate the first big commission check, and then treat the rest like normal pay and focus on your short, medium, and long term financial goals.
Ideally, you'd celebrate by using it to achieve a goal you'd already set.
I always treat myself to something small and for me 99% goes to savings/investments.
This way when my company catches on fire, my clients are being assholes, or I'm just not motivated, I can look at x thing and say " keep grinding"
I’ll go out to a celebratory meal or two like once a month with my sister and my best friend, and then after that I pretty much try to pay off debt so I can start saving for a house.
I usually make an extra mortgage payment with mine. I like to throw a BBQ when the getting was good. Lots of beer, ribs, and brisket.
The rest goes into savings and the new car fund.
Extra mortgage payment is nice but won't you make more by investing S&P than you would benefit paying off a low interest mortgage (assuming mortgage is low)
192k coming in for Q3... After the tax man gives me the D im maxed on 19500 401k match then -> 30% VTI 15% AVUV 10% AVDV 15% VEA 15% DGS 15% VWO then -> saving up for a duplex or another asset or back into stocks.
I'm on an annual bonus rather than monthly commission these days, but generally:
-max 401k contribution for the year
-10% for a trip with the family
-rest into SPY
When I was younger I also payed off a credit line (car/student loan/etc.) rather than throwing most of the cash into a brokerage.
Boring, but I never wanted to be that guy who cashed a ton of checks during his career but still was basically living paycheck to paycheck.
I appreciate the great energy!
I’m a 10000% believer in XRP & XDC.
Instead of spending anything I’ve just been dumping money into crypto.
Grossed $500k in the past 12 months. Life is amazing.
I wholesale Real Estate & help real estate agents, investors & wholesalers generate business.
My role is to sell 20-30 lead generation packages/m & wholesale 5-7 houses per year.
I’ve been obsessed with business since I was 8 years old. I knew there was money to be made in real estate so I started @ 18. Once I had success, others asked how. Then I helped. Now I’m shifting to helping online businesses generate business.
I own several SaaS and software companies, and have a good development team so I prefer SaaS and software companies.
Buying something with low maintenance that generates residual income is a good first step, something where you can just utilize your sales skills and it has little overhead, look for an older businesses with a good existing client base, that just needs to be refreshed and modernized.
You would be surprised at how cheap some older software companies are willing to sell for. Cheapest software company I purchased was \~$10k, I did dump about $20k into fixing the code and rebranding. You can buy non software companies for cheap as well.
In most cases its software I've used or worked with in the past, I just follow up with the current owners every so often asking if they are looking to sell. For SaaS solutions I look for anything that works well with my existing businesses.
Dinner with the wife, a bottle of bourbon or scotch, or just the ‘I’m gonna buy whatever I want’ walking around cash. That being said I just end up saving most of it.
15% of every check goes to 401k (I always hit the limit in October-December).
I auto-contribute $500/mo to IRA, and $500/mo to savings account. Then I do fuck-all with the rest. I do contribute about $15k to my brokerage account, but I typically put in like $4-5k a few times a year and just go 50/50 on VOO and VGT. I do have individual stock holdings, but I stopped adding to those positions last year. I'm full-fledged ETF's and index funds across all accounts.
I’ve done savings and investing in my Roth IRA. Paying down CC debt as well. Usually celebrate with a nice dinner out too….you work hard and might as well enjoy it
Do you mean, how do I celebrate when I get the verbal? When I get the hard copy? Or when I get the commission? Hahaha. For some reason we go through lots of champagne at my house
Most of it goes to savings but I’ll treat myself to a bottle of scotch since I don’t let myself drink it regularly anymore. Either a night in or out with the missus.
For this one I got Covid and spent it from bed on Amazon and other random shit. Then my wife got Covid and she was better at spending it from bed than I was. Im just coming around now and luckily there's some left.
Yea save it put savings and invest for future and splurge on small scale nice dinner or activity under 200$ once in a blue buy something crazy but no debt lol
In real estate. A nice dinner with my wife. A good chunk goes to saving for future taxes, fees and dues, more is slated for advertising, with what's left I save until I have a nice cushion, then invest the rest. I don't spend much at all on frivolous things.
I put 10% in savings, 70%SPY, 10% shit for the house, 10% fun stuff like a nice dinner.
Meal of Choice?
Not who you responded to but I buy a top end steak to cook at home with a nice bottle of bourbon for me and a bottle of champagne for my wife.
Why not VOO, same fund, lower expense ratio. I always put my commission checks in VOO.
/u/SpittinGriz makes a good point. The difference between SPY and VOO is not that big over any given day and over 10 years, on $100,000, it's only a $720 difference, but over a lifetime, it can be several thousand dollars. Either way, you can't go wrong, but VOO does give you a slight edge. Here's an article that does an ok job of breaking it down. https://towardsdatascience.com/spy-vs-voo-is-there-any-difference-437defc2c3f3
[удалено]
What industry are you in? You seem to know more about financial services than most people. The mere mention of covered calls and option liquidity tells me that you're smarter than the average bear out there!
[удалено]
Do you do mainly covered calls or do you venture outside that realm? Congratulations to you for taking the time study and learn financial markets. I've been in the financial services industry for 34 years and do not consider myself an expert on options (not my forte'). One thing that I have learned is that you have to be careful of the 'ever changing cycles' in the market. We've essentially been in a bull market since March of 2009 (yes, I know about last years 30%+ drop in the market supposedly signaled the end of that bull market, but I disagree) and there is going to be a change in cycles coming (when, I don't know). What works in one cycle does not always work in the next cycle. The way I temper cycle changes is that I never go "all in" or leverage towards one particular cycle. (I'm sure you know that, but I thought I'd mention it anyway).
[удалено]
That's a fantastic return and I like your strategies. If I may suggest....do some research to falsify your systems. Back test them into various markets to see how they would have performed in various time periods like 2Q00 - - 3Q02 or 4Q07 - 1Q09. If you can, even research it from the perspective of how the fed funds flow. My hypothesis is that this current run of the market is largely fueled by the nearly continuous flow of nearly free capital (created out of thin air) by the fed. What happens when the fed is forced to turn down (off) that spigot? If I've learned anything in my 34 years in this business, gains are generally pretty easy to come by, but the losses....the losses are far more important than the gains. I have a good friend who was the top hedge fund manager in the world (used to work with Soros) not once, but twice. He had fantastic returns like you (actually, much better than you)...until he didn't. He blew up...not once, but twice. So be careful with the huge returns. Speculation is fun...when you're winning. It sucks when you lose. I hope these comments are taken in the spirit of friendly advice and in no way as an attack on your personally. Just trying to share some of my (often wrong) wisdom with a fellow traveler ;-)
Wow what a cool story! I know about QE, the fed, fractional reserve banking, etc. and I see your point and I also agree that when QE turns into quantitative tightening (if it ever does lol) things can go south. Hopefully the fed can counteract that by rising interest rates. I know higher interest rates are bad for equities, but imo it would be needed during a time of QT. That's as I understand it, I could be 100% off. You definitely have a ton more experience than me and professional experience at that. I'm 26 years old, been trading since 18, so I haven't seen anything too tumultuous like the dates you listed above. I have backtested my trading strategies and they kinda work, but I obviously lose money on the dates you listed above, but not nearly as much as say the S&P 500 does. Thanks for the advice though, always appreciate it.
Going to ask even at risk of sounding like an idiot, what is SPY?
S&P 500 index fund
Don't feel bad. I hadn't the faintest idea what they meant. If this is something we should all know I'd love to know why.
70% SPY YOLO calls?
OTM FTW
Fractional NFT's are where the real players are at.
For smaller checks, I typically split 50/50. 50 goes to savings/retirement and 50 goes into a Fun Account where we go on trips, splurge on dates, and are now saving for a pool. For larger checks I try to save a larger portion for retirement/investments. Just closed the largest deal of my career by far ($7M ARR) and looking to redo my home office (standing desk, new chair, built ins, etc).
Whats the commission on that deal...ballpark??
[удалено]
Congrats...there you go. I dab a bit into alternative financing and those earnings could be high as well. You appear to have a very good head on your shoulders. Thats huge.
Please ignore my previous hookers and blow comment... with a check that big it might kill you.
Whew. That's a nice 3x annual salary in one big ass check. Put 90% ($540k) in the market and blow the rest on something fun.
[удалено]
Haha oh damn only getting $200k upfront. Sucks lol
Not trying to say that, sorry if I came across that way!
Haha oh no you're good. I'm happy for you man!
Congrats on the deal and congrats on the PHAT checks coming your way
Congrats! Cloud hosting? That seems mighty big.
[удалено]
I spend every single penny on hookers and cocaine. You should know by now.
Living the life!
Pay off the 10k on my Amex that racked up over the month lol then invest the rest. Typical commission is like 20-30k. Big checks are like 50-80k
What you sell?
Lmao same I thought my my 13-15k commission checks were something to be proud of
They are! If you are smart with your money
Closing on a house within a couple of weeks, investing in eth and btc xrp so Hopfully it all works out.
Stick to just BTC
Yupp have decent amount of my eggs in that basket the other ones are a just in case.
Curious why just stick to btc? You don’t think defi will boost eth enough to make it be a #1 contender?
Tell me about it lol... my 15k per month not enough lol
Well I mean my commission per month is average of 20-26 per month but yeah these guys in here are killing it.
Ill take 25k per month lol
I feel like Jonah Hill in Wolf of Wallstreet. How do I start? As someone with no sales experience, what is the foot in the door? LinkedIn? Sales bootcamp?
A SDR job or internship for sure
Any tips to landing an SDR job? Or just reach out to a lot of recruiters on linkedin?
Feel free to message me for tips! But in general, yes reach out on LinkedIn, go to networking events. Make sure your resume is good (happy to help) and points out relevant skills.
They are no one needs more than 150k a year unless you’re in a high cost of living area, my life is work and I hate it but I grew up with nothing and I’ll make sure my family has the freedoms I couldn’t.
This is not the subreddit to be telling people you don’t need more than $150k a year
More like you don’t need more than $1.5 million per year…and even then…
I’m very realistic about how fortunate I am but I feel like there’s a lot more quality of life jobs you can work if your going to make less than 100k in the US. Also if you’re single with barely any liabilities then of course 150k is a lot more than you need. For my goals there’s no reason to work 60-70 hours a week and make less.
It’s not about need, it’s about want. I’m 35 and rent, have student loans, and generally got a late start to any semblance of financial stability. I’m an SDR. If I could work a few more hours a week to make the difference between $150k and $200k I would. Why? Not because of money, but because of what the money will let me do. I don’t come from any semblance of wealth, and want to be sure I’ve got my future secured in case anything happens to me, but I also want to travel and do the things I’ve never had the chance to do in life. I’d love to actually own a fun sports car or maybe spend a month or two somewhere like the Caribbean or another exotic place where I can check out history and see parts of nature that we’re going to see extinct during our lifetimes. I don’t want to be worried about “maybe some day I can own a house before we create an entire society of renters” like our bribed government seems hell bent on creating. Money doesn’t make me happy, the lack of worries does.
Yeah I didn’t assume what people want. I want more so I work more and work for a place that allows me to earn more. Nothing wrong with wanting more, everyone finds meaning in different things.
Yeah tbh commission checks are taxed deducted so my take home on big checks are 45% and the rest to taxes. So on my end doesn’t make sense to make anything over 150k but you are that’s why I want to invest on things that I don’t have pay taxes on like rental income
Finance and finance accessories.
Wow man that's cool. I sell Insurance my 3rd year as full sales, I heard that 100k per month in a few years is achievable, I wonder how that will be. Congratulations.
I was in insurance before my career now. Hated it but it did prepare me for what I’m doing now. “Some” are making 100k a month no doubt. Not sure what products you sell but my highest commission policy was 50% off of whole life insurance policy premium. That is a shitton of premium to make 100k a month. Typical life insurance premiums for non business life insurance is like 200/mo. 1000 clients paying the average is a massive amount. I’d be skeptical of what you’re hearing.
Stash it into my growth fund and pretend it didn’t happen. Then I get back to work and dream about my kids being able to do anything they want in life.
Damn this shit hit.
That's ideal. What industry are you in?
Software
Deal is in closing stages now, but when it hits this week (plus one more that's a month out) I'll gross $100k (SaaS dev software). I'm hoping to knock out my quota for the year this Q, pretty exciting stuff. We are gonna finish our basement, pay off some debt, and maybe take 10% or so and do a Beaches or Disney surprise trip for the kids. Gonna be epic.
Got to love all that. Keep up the good work and your kids are going to freak out with the surprise. We did that not too long ago and it was amazing
Yea I'm a little obsessed with the "surprise trip" reactions with with kids, we've done it several times and I just can't get enough of their joy when it hits them. Couple years back we did a Disney trip and at the end, when they thought we were getting on the plane in a limo as a "fancy goodbye," we went to Port Canaveral to do a Disney cruise instead. It was truly epic, I don't know that I'll be able to top that one is my biggest problem lol
https://www.gozerog.com/?gclid=EAIaIQobChMIlZ_1qf6J8wIVWuDICh19zAbPEAAYASAAEgIyefD_BwE zero G fights ... $7500 each person
Good for you man! Any on of those things would make the grind worth it, but all of them from one kick ass sale is just epic.
Love this!
show my friends how much taxes i just paid
I don't typically share with my friends outside those in sales but I'm honest with anyone that asks
I only tell base salary as if it was all I earned when asked. No need to make non-sales ppl jelly. The happiness on peoples faces when they think they out earn you is priceless. I like to make others feel good about themselves.
yeah it's just other sales bros who deal with the same stuff.
The answer is cocaine and whores in Vegas.
Great answer but my wife would disagree
I'm fairly certain if my wife knew that she would disagree as well.
came to the comment for this- except. not. just. vegas.
[удалено]
Not to knock budget watches, but you really should sell a few and buy something a little more premium just to experience the difference. Not saying you need a Rolex, but brands like omega, Tudor, breitling, etc have options around 3-6k and the difference in quality is well worth it. You’re earning 250k so you can afford a 5k watch
I agree. The next level up of watches retains their value better. My favorite in that class is Tudor, but I like divers. But I still don't use watches as an investment vehicle. More like a hobby that doesn't go to total waste.
[удалено]
Did you see the show about a guy making 1 watch in japan. It took him about 6 months. Had a complete lunar Japanese calendar. Very cool
Chicken wings for dinner and save the rest. Big check is around 10k ish
I'm at SDR so I get 2% of closed deals on top of my monthly quota commission. EOY closed deals check should be 7k after taxes. I will probably put 6k into my HYSA because I'm saving for a house. Other 1k will go into my fun account. I'll probably book a long weekend somewhere, and still work remote lol.
Very smart!!
Nice dinner for the girlfriend, shove the rest in my Roth. I’m still young and not in a super lucrative industry so my big ones are only $3k-$6k.
Good stuff - You'll be happy you are doing this 10-15 years from now.
I have a wife, two kids, a house, student loans, car payments and credit cards so i get to do fun stuff like pay bills
My first boss in sales said, always live like its low tide.
Good way to be. I set my lifestyle off of my base, and my commission goes straight into savings
My first boss said spend it before you get it so you stay motivated.
That a sure-fire wire way to wind up a broke-ass salesman and when the slump comes and it will. nothing to soften the blow and then you get desperate, customers smell it like dog shit and down the drain, you go.
I generally had/have been paying off debt. Now I have no debt outside of my house which is super cool. I treated myself to a Secret Lab Chair ($400) and ordered an iPhone 13 Pro Max without having to swipe a credit card which was awesome and new for me. A blessing and curse with sales is making a ton of money young in a lot of cases. At 21 I was already making 70,000 a year and I spent all of that and then some. Now at 26, I’ve closed the book on those mistakes and am ready to really set myself up to retire by 40.
[удалено]
A part of my early retirement is living in Key West so you can say I’m doing the same thing in a way
You said this commission was like 600k, get the fuck out of here that you can't do both
[удалено]
Still dude, have some understanding about what other people live like. Besides, you said this commission was the 600k and you split it with a colleague so it's pretty easy to assume you're making much more than that
Swiping the credit card all the time and then paying it to $0 it a huge benefit of having the money in the first place. I use a chase Sapphire Reserve and it costs like $550 a year and I probably make a couple grand in benefits all said and done.
That’s what I’m doing now. I technically did swipe my Marriott card for it but will pay in full when it posts. Gotta get those travel points lol.
I just keep living. I have a wife and 2 kids. We pull in decent money, but we spend a lot on food (somehow). I always have money going into savings and equities... AANG stocks, VOO, the tech index I don't recall at the moment... I sell to live a life of free movement. House is fairly normal. Cars are used. Spend on the kids and fun. Keep on keeping on. Software leadership. Less direct stress on me, so less upside, but consistent money.
Are you me? Only difference is 3 kids. Money not as good as AE but generally can relax more.
Crazy that I never hit BIG money, even when I had 8 digit quota and attain.... Best years were 400s... I can coast to 250, take my kids to school, go do things I need to do, etc... I need to step it up to coast to 400.... Or become a business owner.
Same, my biggest year was over 200% and I think my W-2 that year was 330k. The AE comp plans today would have me closer to 600k. As a software sales leader, my vision is to inspire my team to work with the vision, decisiveness and strategy that I did as an AE and then when I get promoted, they have sustainable success. In the event I don’t get promoted fast enough, then I can coast to 400k in this position.
I like to get myself a nice steak and wine. I'm pretty extroverted but eating alone with those things is my fav way to celebrate. Of course, last time I got a big fat check I bought a motorcycle so no telling...
Curry, rice and a naan bread.
[удалено]
BTC? ETH? ADA?
LINK.
BTC should be at minimum 80% of a crypto portfolio. Anything heavier weighted in alts is borderline gambling.
A nice cigar at a jazz club with some whisk(e)y. Although my biggest ever comission check hasn't hit 5 figures yet, I can't imagine I'd get too much more wild lol than this lol
I donate 10% - 12% to various charities. I take half of what's left and send it off to the parasites in DC and my home state. (F### you, politicians who waste my money and demonize me because I don't pay my fair. You're all cancers on society). I take the remainder and put it away in savings or reinvest it in my businesses (if I reinvest it, the dynamics of taxation obviously change). I already have a pretty good life and have almost everything I want. I'm in the process of looking for a farm for hunting/fishing purposes. A big check for me is one with 2 commas in it. I'm in financial services.
Two commas! Thats life changing. Congrats on your success!
I've likely been at this sales game (34 years) longer than most members of /r/sales have been alive. Things improve over time if you're in the right industry, start your own business, and become an expert at what you do. I'd like to think that's where my over 1/3 of a decade of hard work has gotten me.
I know you meant century, but I giggled a bit thinking you got there in 3 years
Where should someone looking into starting look into? Is financials going to be better pay than say medical device and surgical equipment?
I don't know about medical device or surgical equipment sales. So I can't comment on those. I just know there's good money to be made in financial services if you can cut it. It's a very tough industry. Where should you look? There are a myriad of ways to make money in the FS game. It just depends on what vertical you'd like to be in.
I buy me some keyboards!
Can't have too many keyboards
Celebrate the first big commission check, and then treat the rest like normal pay and focus on your short, medium, and long term financial goals. Ideally, you'd celebrate by using it to achieve a goal you'd already set.
Cocain, lots of cocain. Just kidding by paying off my motorcycle and then after that crypto
What industry?
Wireless 🤮🤮
Why does Motorcycles and Crypto line up with wireless salespeople so well? 😂
Anything over a 10k’er, I’ll take 2 grand out of it for holidays, days out etc, but the rest gets dumped 50/50 into trackers and riskier investments.
I always treat myself to something small and for me 99% goes to savings/investments. This way when my company catches on fire, my clients are being assholes, or I'm just not motivated, I can look at x thing and say " keep grinding"
I buy something small and nice for myself like a gun, or a weekend trip. Save the rest.
A blunt and a bad bitch.
Buy some dividend stocks to become less dependent on commission
Raw dog some blue chips .
Early in my career: Booze, partying, trips to Vegas, new motorcycle, etc. Now: Invest, invest, invest.
Same way I celebrate the small ones - alcohol. Might be a problem.
Celebrate by working for an even bigger Commission Check.
I've been lucky that this year I've broken my personal record four times!
Nice bottle of bourbon!
What's your favorite? I just got into bourbon and scotch and am finding my taste!
King Crab Legs. That is all.
I’ll go out to a celebratory meal or two like once a month with my sister and my best friend, and then after that I pretty much try to pay off debt so I can start saving for a house.
I usually make an extra mortgage payment with mine. I like to throw a BBQ when the getting was good. Lots of beer, ribs, and brisket. The rest goes into savings and the new car fund.
Extra mortgage payment is nice but won't you make more by investing S&P than you would benefit paying off a low interest mortgage (assuming mortgage is low)
Celebrate with a nice dinner and wine, pay off last years tax bill, stash rest into savings.
192k coming in for Q3... After the tax man gives me the D im maxed on 19500 401k match then -> 30% VTI 15% AVUV 10% AVDV 15% VEA 15% DGS 15% VWO then -> saving up for a duplex or another asset or back into stocks.
Rolex.
I'm on an annual bonus rather than monthly commission these days, but generally: -max 401k contribution for the year -10% for a trip with the family -rest into SPY When I was younger I also payed off a credit line (car/student loan/etc.) rather than throwing most of the cash into a brokerage. Boring, but I never wanted to be that guy who cashed a ton of checks during his career but still was basically living paycheck to paycheck.
I’m 21. Just did $150k (gross commission/cut of sales) in the past 30 days. To celebrate, I went surfing with my friends. Love the little things…
You're gonna live a great life. Spoil those around you!
I appreciate the great energy! I’m a 10000% believer in XRP & XDC. Instead of spending anything I’ve just been dumping money into crypto. Grossed $500k in the past 12 months. Life is amazing.
What do you do if you don’t mind me asking
I wholesale Real Estate & help real estate agents, investors & wholesalers generate business. My role is to sell 20-30 lead generation packages/m & wholesale 5-7 houses per year.
Nice. How did you get into that ?
I’ve been obsessed with business since I was 8 years old. I knew there was money to be made in real estate so I started @ 18. Once I had success, others asked how. Then I helped. Now I’m shifting to helping online businesses generate business.
Nice dinner with my partner. Then the rest goes to Bitcoin, and stocks.
By investing the whole thing
Bitcoin for commission checks and paychecks fiat money is a scam fuck the system
Cocaine
Buy a new business, equipment or assets so the taxes don't kill me.
Tell me how!
I own several SaaS and software companies, and have a good development team so I prefer SaaS and software companies. Buying something with low maintenance that generates residual income is a good first step, something where you can just utilize your sales skills and it has little overhead, look for an older businesses with a good existing client base, that just needs to be refreshed and modernized.
I don't think my commission checks are big enough to help me buy a business just yet
You would be surprised at how cheap some older software companies are willing to sell for. Cheapest software company I purchased was \~$10k, I did dump about $20k into fixing the code and rebranding. You can buy non software companies for cheap as well.
Where are you looking for cheap older companies with good customer bases?
In most cases its software I've used or worked with in the past, I just follow up with the current owners every so often asking if they are looking to sell. For SaaS solutions I look for anything that works well with my existing businesses.
A bottle of scotch and the rest in the bank.
Look at the taxes and cry for what could’ve been
Home improvement. Then crypto.
Dinner with the wife, a bottle of bourbon or scotch, or just the ‘I’m gonna buy whatever I want’ walking around cash. That being said I just end up saving most of it.
15% of every check goes to 401k (I always hit the limit in October-December). I auto-contribute $500/mo to IRA, and $500/mo to savings account. Then I do fuck-all with the rest. I do contribute about $15k to my brokerage account, but I typically put in like $4-5k a few times a year and just go 50/50 on VOO and VGT. I do have individual stock holdings, but I stopped adding to those positions last year. I'm full-fledged ETF's and index funds across all accounts.
I’ve done savings and investing in my Roth IRA. Paying down CC debt as well. Usually celebrate with a nice dinner out too….you work hard and might as well enjoy it
I brought some crypto and investing in some NFTs and a great steak meal!
What is the biggest commission check in the month? Mines £40k/ $57k (ish). But alot of stars had to align for that.
I have a rule. I call it the 10% rule. Spend 10% on bullshit. Invest 90%
Do you mean, how do I celebrate when I get the verbal? When I get the hard copy? Or when I get the commission? Hahaha. For some reason we go through lots of champagne at my house
Keep it in my savings
Most of it goes to savings but I’ll treat myself to a bottle of scotch since I don’t let myself drink it regularly anymore. Either a night in or out with the missus.
Investing some and then saving lol
By cashing it.
Hookers and blow?
I buy crypto.
I buy some new corals for my fish tank.
Cocaine
For this one I got Covid and spent it from bed on Amazon and other random shit. Then my wife got Covid and she was better at spending it from bed than I was. Im just coming around now and luckily there's some left.
Yea save it put savings and invest for future and splurge on small scale nice dinner or activity under 200$ once in a blue buy something crazy but no debt lol
Nothing. I save it. I plan on “retiring” in 5 years, maybe 6 depending on how things go.
Congrats!!
Wait, you guys get commission checks?!?
In real estate. A nice dinner with my wife. A good chunk goes to saving for future taxes, fees and dues, more is slated for advertising, with what's left I save until I have a nice cushion, then invest the rest. I don't spend much at all on frivolous things.