Forum for the entire range of BMW electric vehicles
BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read
BIMMERPOST Universal Forums Off-Topic Discussions Board

Post Reply
 
Thread Tools Search this Thread
      07-28-2021, 12:17 PM   #23
Mosaud1998
Colonel
Mosaud1998's Avatar
United_States
3890
Rep
2,625
Posts

Drives: 2019 BMW 540
Join Date: Nov 2019
Location: Suburb of Chicago

iTrader: (0)

Garage List
2019 BMW 540  [0.00]
Quote:
Originally Posted by CTinline-six View Post
Education is never a bad investment, it's always good to have options.
Yeah, I understand that.

But, I'm not good at it. I hardly pass anything unless I cheat..

With the degree I was thinking of getting, I'll be making around $70k starting.

I make more right now roughly. Plus, I want to become a GM. That degree won't help me get there.
Appreciate 0
      07-28-2021, 12:17 PM   #24
XutvJet
Major General
5488
Rep
5,334
Posts

Drives: 2011 Cayman Base, 2016 M235
Join Date: Mar 2016
Location: Kansas City

iTrader: (-1)

Quote:
Originally Posted by Mosaud1998 View Post
I'm not bragging. I just don't know how to feel about the $59k take home. can't do much with that.

can't buy a decent car without a loan or anything.
You're 23. You have a TON of years to work. You don't get the big money from the start, you have to work up to it. You don't get to buy much of the fancy things either like the new BMW, a huge house, a lake house, etc. Patience and work experience is key. You start small and work your way up.

You haven't make $80k/yr yet. Also, you happened to get into the car sales market at a pretty damn good time. Be prepared for tough times ahead. Being in sales, you'd best be very careful with not expecting to make good money all the time. There are major ups and downs, many of which are out of your control.
__________________
The forest was shrinking, but the Trees kept voting for the Axe, for the Axe was clever and convinced the Trees that because his handle was made of wood, he was one of them.
Appreciate 1
Mosaud19983890.00
      07-28-2021, 12:18 PM   #25
Mosaud1998
Colonel
Mosaud1998's Avatar
United_States
3890
Rep
2,625
Posts

Drives: 2019 BMW 540
Join Date: Nov 2019
Location: Suburb of Chicago

iTrader: (0)

Garage List
2019 BMW 540  [0.00]
Quote:
Originally Posted by clutchdj View Post
All depends on how much you have to pay in taxes ;-).

Short answer is yes though
$20k in taxes
Appreciate 0
      07-28-2021, 12:19 PM   #26
Mosaud1998
Colonel
Mosaud1998's Avatar
United_States
3890
Rep
2,625
Posts

Drives: 2019 BMW 540
Join Date: Nov 2019
Location: Suburb of Chicago

iTrader: (0)

Garage List
2019 BMW 540  [0.00]
Quote:
Originally Posted by XutvJet View Post
You're 23. You have a TON of years to work. You don't get the big money from the start, you have to work up to it. You don't get to buy much of the fancy things either like the new BMW, a huge house, a lake house, etc. Patience and work experience is key. You start small and work your way up.

You haven't make $80k/yr yet. Also, you happened to get into the car sales market at a pretty damn good time. Be prepared for tough times ahead. Being in sales, you'd best be very careful with not expecting to make good money all the time. There are major ups and downs, many of which are out of your control.
Yup, sometimes you'll make $100k/year. Sometimes $35k/year
Appreciate 0
      07-28-2021, 12:21 PM   #27
Mosaud1998
Colonel
Mosaud1998's Avatar
United_States
3890
Rep
2,625
Posts

Drives: 2019 BMW 540
Join Date: Nov 2019
Location: Suburb of Chicago

iTrader: (0)

Garage List
2019 BMW 540  [0.00]
Quote:
Originally Posted by TheWatchGuy View Post
save your money and dont buy something you cant afford.

getting a loan on a car isnt a bad thing, and in a lot of instances, is smarter than paying cash with where interest rates are right now.

FWIW, i made right around there out of school at 23, and bought a new car with a similar take home pay on a 3 year, 0% interest loan. it can be done.
I'm cheap as hell

My credit card bills are usually like $100/month. That's just gas for the BMW.

I hardly eat out. Oh I pay my parents $200/month since I live with them.

Forgot I my half of the phone bill and car insurance.

Basically, I don't spend my money on things I don't need.
Appreciate 0
      07-28-2021, 12:24 PM   #28
Run Silent
Run Deep
Run Silent's Avatar
United_States
15127
Rep
4,123
Posts

Drives: Back and Forth To Work
Join Date: Mar 2017
Location: The Mountains

iTrader: (0)

Garage List
I'm pretty sure the best course of action is for me to keep my mouth shut on this one....
__________________
Don't sweat petty things....or pet sweaty things.
Appreciate 6
upstatedoc7555.50
King Rudi13152.00
stein_325i25051.00
ntg442887.50
Germanauto9665.50
      07-28-2021, 12:24 PM   #29
Mosaud1998
Colonel
Mosaud1998's Avatar
United_States
3890
Rep
2,625
Posts

Drives: 2019 BMW 540
Join Date: Nov 2019
Location: Suburb of Chicago

iTrader: (0)

Garage List
2019 BMW 540  [0.00]
Quote:
Originally Posted by Run Silent View Post
I'm pretty sure the best course of action is for me to keep my mouth shut on this one....
Why? I want to hear your input
__________________
Current: 2019 BMW 540 (AWD)
Sold: 2009 BMW 328 (AWD)
Appreciate 0
      07-28-2021, 12:33 PM   #30
chassis
Colonel
chassis's Avatar
6374
Rep
2,283
Posts

Drives: 9Y0 Cayenne S
Join Date: Mar 2019
Location: Einbahnstraße

iTrader: (0)

Garage List
Mosaud1998 you’re doing fine. Taxes must be paid, it is what it is. Contribute as much as you can to retirement savings now. It may not sound exciting to do this, but you will thank yourself again and again later in life if you take care of your savings and investments now.
Appreciate 2
Mosaud19983890.00
stein_325i25051.00
      07-28-2021, 12:34 PM   #31
cmyx6go
Colonel
cmyx6go's Avatar
15562
Rep
2,037
Posts

Drives: 2022 X6///M Comp
Join Date: Aug 2015
Location: NYC

iTrader: (2)

Garage List
2019 X6 ///M  [10.00]
Quote:
Originally Posted by Mosaud1998 View Post
$20k in taxes
The more you make, the more they take... Just saying.
__________________
I thought I was a good person but the way I react when people drive slowly in the left lane would suggest otherwise
Appreciate 7
Mosaud19983890.00
Tommy-G4467.00
King Rudi13152.00
BMWGUYinCO4046.00
Run Silent15127.00
Vivek.1363.50
      07-28-2021, 12:47 PM   #32
Darth One
drunk poster
Darth One's Avatar
United_States
6613
Rep
3,649
Posts

Drives: M4 GTS | E46 M3
Join Date: Jul 2008
Location: FL

iTrader: (0)

I think you already know that you’re doing well. Have to sustain it over the long run though. Sales is the ultimate “what have you done for me lately” profession. But that’s also some thing you probably already know.

I made $36k gross at a sales job in the late 90’s, i was a year younger than you. I was the top producer in the SoCal region. I wonder how much top car salesmen made in those days…

Also, be prepared for people to start telling you in this thread how to live your life. But maybe you actually don’t mind hearing it
Appreciate 2
Mosaud19983890.00
King Rudi13152.00
      07-28-2021, 12:49 PM   #33
Mosaud1998
Colonel
Mosaud1998's Avatar
United_States
3890
Rep
2,625
Posts

Drives: 2019 BMW 540
Join Date: Nov 2019
Location: Suburb of Chicago

iTrader: (0)

Garage List
2019 BMW 540  [0.00]
Quote:
Originally Posted by Darth One View Post
I think you already know that you're doing well. Have to sustain it over the long run though. Sales is the ultimate "what have you done for me lately" profession. But that's also some thing you probably already know.

I made $36k gross at a sales job in the late 90's, i was a year younger than you. I was the top producer in the SoCal region. I wonder how much top car salesmen made in those days…

Also, be prepared for people to start telling you in this thread how to live your life. But maybe you actually don't mind hearing it
Hell I think I know how to live my own life
__________________
Current: 2019 BMW 540 (AWD)
Sold: 2009 BMW 328 (AWD)
Appreciate 0
      07-28-2021, 12:49 PM   #34
XutvJet
Major General
5488
Rep
5,334
Posts

Drives: 2011 Cayman Base, 2016 M235
Join Date: Mar 2016
Location: Kansas City

iTrader: (-1)

Quote:
Originally Posted by Mosaud1998 View Post
I'm cheap as hell

My credit card bills are usually like $100/month. That's just gas for the BMW.

I hardly eat out. Oh I pay my parents $200/month since I live with them.

Forgot I my half of the phone bill and car insurance.

Basically, I don't spend my money on things I don't need.
Ok. Hold on. You live with your parents and grossing over $6,600/mo and say it's not enough money? Dude, come on. What are you doing with all that money? I hope you're saving and investing nearly all of it.

I was making $80K/yr in a very nice area of Kansas City back in 2011. I was a 37 y/o white collar, college educated professional with 17 years of work experience. I was married and had two kids (9 and 3 at the time). My wife didn't work at the time. We had a mortgage, insurance on cars/house, food and common living expenses, home improvement/repairs, vacations, etc. etc. and still was putting away 10% to my investments and 401K. Financially, wife and I were very happy where we were at and money wasn't an issue for us.

Point being, you've got it pretty damn good bringing in that kind of cash with hardly any living expenses. You're in for a world of hurt once you move out as expenses go through the roof. So many things you're not thinking of now will chomp at the income.
__________________
The forest was shrinking, but the Trees kept voting for the Axe, for the Axe was clever and convinced the Trees that because his handle was made of wood, he was one of them.
Appreciate 2
Mosaud19983890.00
Run Silent15127.00
      07-28-2021, 12:54 PM   #35
RelaxIN2
Second Lieutenant
RelaxIN2's Avatar
512
Rep
230
Posts

Drives: 2012 BMW M3 E93
Join Date: Mar 2016
Location: Bucks County Pa

iTrader: (0)

Garage List
Do yourself a favor... Something I wish my parents would have shared with me at your age... Buy/Download/Read or Audiobook a book called Rich Dad Poor Dad by Robert Kiyosaki. Read and/or listen to it about 3 times. I'm sure you'll thank me for it later...

If my parents would have taught me about investing at an early age, you and I wouldn't be having this conversation right now. For whatever reason my parents were big on having Life Insurance... I had freaking life insurance since I was 22... if I had invested that $42 a month back then...ugh.. I dont even want to think about it, it gets me sick... but in all fairness they didn't know, and, the internet and information age wasn't around then to self educate...

I was very much like you... I HATED school. I was a jock so I got by...My grades were very poor and I only excelled in a few classes such as Math/Science/Lunch and Sports..lol. I graduated and went to tech school to become a mechanic. I worked for Ford Motor Company as an electronics specialist. I did that for a few years and decided that's not what I wanted to do for the rest of my life, however, I enjoyed doing the electronics portion of the work. I quit and took an 18 month course at a Computer Learning school.. I graduated and pursued my IT career and haven't looked back.

My advice to you is...be around people that you inspire to be... shut your pie-hole and listen and learn. Your ONLY limitation is YOURSELF..!! dont let anyone else tell you otherwise..!
Appreciate 1
Mosaud19983890.00
      07-28-2021, 12:56 PM   #36
leopard print
Lieutenant
1570
Rep
390
Posts

Drives: Really well for an Asian.
Join Date: Jan 2016
Location: Los Angeles, CA

iTrader: (5)

Quote:
Originally Posted by Mosaud1998 View Post
$20k in taxes
Welcome to adulthood.
Appreciate 1
upstatedoc7555.50
      07-28-2021, 01:02 PM   #37
Tommy-G
Captain
Tommy-G's Avatar
4467
Rep
694
Posts

Drives: 2015 435 Vert Alpine White
Join Date: Apr 2010
Location: Bradenton FL

iTrader: (0)

I think wanting to be a GM is a great aspiration. Learn everything you can about parts and service b/c the sales department can tend to run itself to an extent but you wont succeed as a GM if you dont "understand" parts, service and the financial statements.
Appreciate 2
TiMSport12786.50
Mosaud19983890.00
      07-28-2021, 01:04 PM   #38
upstatedoc
I'll get back to you
upstatedoc's Avatar
7556
Rep
2,132
Posts

Drives: blue streak
Join Date: Dec 2009
Location: not downstate

iTrader: (2)

Quote:
Originally Posted by Run Silent View Post
I'm pretty sure the best course of action is for me to keep my mouth shut on this one....
Tough love. Let him have it!
__________________
2018 Stinger GT
2009 E90 N51 /Active Autowerke Stage 2 tune/BMW Performance Exhaust/
Countermeasure enthusiast.
Appreciate 2
Mosaud19983890.00
Run Silent15127.00
      07-28-2021, 01:05 PM   #39
King Rudi
Lieutenant Colonel
King Rudi's Avatar
13152
Rep
1,965
Posts

Drives: Meat Suit
Join Date: Sep 2017
Location: Planet Earth

iTrader: (0)

Quote:
Originally Posted by Run Silent View Post
I'm pretty sure the best course of action is for me to keep my mouth shut on this one....


oh......I'm dying over here. Thank you.....


I've been hanging on each response and trying to determine how to form a response.

Mosaud1998 I have some bad news for you.....life is going to be way more difficult than you can possibly imagine. Enjoy the time you are having now. At one time, and not too long ago, I made half of that, as an adult, with two children at home and I didn't live with my parents. Life has a way of dropping you on your face. Prepare for it.
__________________
Quote:
Originally Posted by jmg View Post
We're Americans. Leave your logic and science witchcraft out of this! Jesus and guns are all we need.
Appreciate 1
Run Silent15127.00
      07-28-2021, 01:07 PM   #40
ky0u
Captain
ky0u's Avatar
United_States
1066
Rep
943
Posts

Drives: e92 335i, f22 m235i, e30 325is
Join Date: Sep 2010
Location: San Diego

iTrader: (1)

Garage List
2015 BMW M235i  [0.00]
1988 BMW 325IS  [0.00]
2007 BMW 335i  [0.00]
Quote:
Originally Posted by Mosaud1998 View Post
The average American made about $94k/year in 2020.

Be careful with this metric. Depending on how it's data is sourced/processed, it could be severely skewed resulting in unrealistic expectations. For example, if 10 people have 1 apple, and 1 person has 100 apples, then the statistic technically becomes, "a person has on average 10 apples." But that's not exactly "accurate" either
__________________
IG: @lolhpfp

Build Thread
Appreciate 1
Run Silent15127.00
      07-28-2021, 01:08 PM   #41
tdott
Brigadier General
3931
Rep
3,972
Posts

Drives: M3
Join Date: Nov 2010
Location: South FL / 6ix

iTrader: (4)

You'll soon realize past 3 months in sales, doesn't mean you can multiply to give you full year salary.

You are counting May - July which are busy months. What happens when/if you sell 0 cars in Jan? or etc.
Appreciate 3
King Rudi13152.00
Humdizzle6024.00
Mosaud19983890.00
      07-28-2021, 01:12 PM   #42
dtox9
Second Lieutenant
dtox9's Avatar
United_States
336
Rep
213
Posts

Drives: F25-X
Join Date: May 2020
Location: Florida

iTrader: (0)

Quote:
Originally Posted by King Rudi View Post
Life has a way of dropping you on your face. Prepare for it.
THIS X1000
(if I only knew then what I know now)
Appreciate 1
Tommy-G4467.00
      07-28-2021, 01:16 PM   #43
damnitBobby
Major
991
Rep
1,370
Posts

Drives: 2018 M3 ZCP
Join Date: Jan 2014
Location: Houston

iTrader: (0)

Learn the difference between average and median. The latter is more relevant in this topic.

You're doing just fine especially since you live with your parents. You save a lot of money by simply having little to no overhead costs.

My advice is to make sure your career path is reliable and something that you see yourself doing 10-15 years down the road.
Appreciate 0
      07-28-2021, 01:16 PM   #44
CTinline-six
Hoonigan
CTinline-six's Avatar
United_States
6812
Rep
3,000
Posts

Drives: '09 328i, '98 Wrangler
Join Date: Dec 2016
Location: Connecticut

iTrader: (0)

Garage List
Quote:
Originally Posted by Mosaud1998 View Post
Yeah, I understand that.

But, I'm not good at it. I hardly pass anything unless I cheat..

With the degree I was thinking of getting, I'll be making around $70k starting.

I make more right now roughly. Plus, I want to become a GM. That degree won't help me get there.
Don't necessarily have to be a degree, get some certs in a trade or something. If you like your current job, what would allow you to advance in the ranks to say a management position?
__________________
"Yeah, but your scientists were so preoccupied with whether or not they could, they didn't stop to think if they should."

-Dr. Ian Malcolm, Jurassic Park
Appreciate 1
Mosaud19983890.00
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 07:42 AM.




bmw
Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST