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re: do you feel better than others because you have a lot of $
Posted on 8/9/16 at 3:03 pm to RegisteredPharmacist
Posted on 8/9/16 at 3:03 pm to RegisteredPharmacist
quote:
#blessed
0
Posted on 8/9/16 at 3:06 pm to Hawkeye95
quote:
I make in the top 2% of the population, and our wealth is top 5% (and we are only 42). I am on track to retire in 2-3 years at around 45.
Good luck... Im thinking you must have saved every dime you ever made.
Posted on 8/9/16 at 3:08 pm to N2cars
I've witnessed so many people in my line of work fall victim. Next thing you know, they lose and account or 2, and they are up the creek.
Posted on 8/9/16 at 3:10 pm to Count Chocula
Was kinda thing that, too...
Saving is important obviously, but no one is guaranteed to be her forever.
Putting off helping others or getting a nice car so you can "retire early" is NBD to me.
I'd rather help out and have some fun while I can...
Saving is important obviously, but no one is guaranteed to be her forever.
Putting off helping others or getting a nice car so you can "retire early" is NBD to me.
I'd rather help out and have some fun while I can...
Posted on 8/9/16 at 3:10 pm to cas4t
[img] Next thing you know, they lose and account or 2, and they are up the creek. [/img]
Especially if they are $100M accounts in various UMAs. You get spoiled real quick.
Especially if they are $100M accounts in various UMAs. You get spoiled real quick.
This post was edited on 8/9/16 at 3:12 pm
Posted on 8/9/16 at 3:12 pm to cas4t
Yep.
When I started my business I was able to do it b/c we lived below our means (that was the term then).
Commission sales will keep you humble.
When I started my business I was able to do it b/c we lived below our means (that was the term then
). Commission sales will keep you humble.
Posted on 8/9/16 at 3:12 pm to N2cars
quote:
I'd rather help out and have some fun while I can...
Me too. Posted on 8/9/16 at 3:17 pm to Count Chocula
I'm in the insurance biz, but obviously the same concept. One of my colleagues lost a million dollar revenue account a few weeks back, and his book of business was roughly 3M. 1/3 of his income gone in a day. Tough pill to swallow.
Posted on 8/9/16 at 3:20 pm to cas4t
When the Shuttle program ended it was tough for us. Hard to replace those big accounts...
Just gotta keep sawing wood...
Like my brother said, "I was never as good of a salesman in my very best years, but I was never as bad of a one in my worst years".
In other words, just keep working.
Just gotta keep sawing wood...
Like my brother said, "I was never as good of a salesman in my very best years, but I was never as bad of a one in my worst years".
In other words, just keep working.
Posted on 8/9/16 at 3:21 pm to N2cars
quote:
(that was the term then )
much simpler
quote:
Commission sales will keep you humble.
yessir, they do. I try to tell myself I can lose my biggest client on any given day, and over some political BS that I have no control over.
Posted on 8/9/16 at 3:22 pm to cas4t
quote:
I try to tell myself I can lose my biggest client on any given day,
Just dig your well before you're thirsty...
Posted on 8/9/16 at 3:22 pm to N2cars
quote:
Like my brother said, "I was never as good of a salesman in my very best years, but I was never as bad of a one in my worst years".
I'm going to steal this one
Posted on 8/9/16 at 3:23 pm to cas4t
Securities Biz a little different.
I got a neighbor who does the Insurance thing, large casualty stuff, oil companies who pay $5M liability premiums, makes 10% first year, and 8% renewals. He was crying the other day that he lost a $10M annual account... Now I know why!
I got a neighbor who does the Insurance thing, large casualty stuff, oil companies who pay $5M liability premiums, makes 10% first year, and 8% renewals. He was crying the other day that he lost a $10M annual account... Now I know why!
Posted on 8/9/16 at 3:23 pm to N2cars
Posted on 8/9/16 at 3:24 pm to cas4t
He worked for GP for awhile and had a big year, so he was the Golden Boy.
He told me a few years later he was down to being silver-plated.
He told me a few years later he was down to being silver-plated.
Posted on 8/9/16 at 3:28 pm to Count Chocula
I work for a larger firm based out of Europe and work mostly with healthcare organizations. his commissions seem really low, though
mine are 40% first year and either 18% or 20% on renewal, depending. But if it's a really big one, we don't work on commission, and just take a fee. It's usually closer to that 8-10% number in that instance.
Oil companies pay a shite pile in premiums though. That's a nice niche for us insurance guys.
mine are 40% first year and either 18% or 20% on renewal, depending. But if it's a really big one, we don't work on commission, and just take a fee. It's usually closer to that 8-10% number in that instance.
Oil companies pay a shite pile in premiums though. That's a nice niche for us insurance guys.
This post was edited on 8/9/16 at 3:37 pm
Posted on 8/9/16 at 3:30 pm to N2cars
quote:
He told me a few years later he was down to being silver-plated.
better than paper plated!
Posted on 8/9/16 at 3:30 pm to cas4t
His cut is larger than the 10% mentioned, but that's what he clears after paying the agency he works for (about 4 or 5%).
In the stock and bond business, Id be in jail at that %
In the stock and bond business, Id be in jail at that %
Posted on 8/9/16 at 3:33 pm to Count Chocula
quote:
Im thinking you must have saved every dime you ever made.
Not having kids was the big win. And no student debt. And I got really good advice when i was just started working, save every raise. And while i haven't quite done that, I have done pretty well.
lifestyle creep will screw you over.
And we still have a nice lifestyle. We take an international trip every year, go out to eat at fancy restaurants, and live in a hip neighborhood. But we haven't gotten into any debt other than our house, and we drive modest cars.
Posted on 8/9/16 at 3:36 pm to Count Chocula
ahhh that makes more sense then. So his agency basically let's him run his own business through them. I work directly for my company. He probably has some equity then. I definitely do not, outside of some stock I bought at a discount.
insurance is a racket, but if you play your cards right, you can do pretty well.
quote:
In the stock and bond business, Id be in jail at that %
insurance is a racket, but if you play your cards right, you can do pretty well. 
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