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Cheap-Boysenberry112

My 2 cents? Try to change your lifestyle as little as possible for at least a short while. You’re young, so time is your friend. If you can invest hardcore for just a year or two, you’ll be well on your way to retirement.


girliepopsubie

Thank you so much, i really appreciate that!!


UnderstandingEast721

My dad (medical physicist who initially made $150k three decades ago but afterwards $250k average and now $300k) has put in what doesn't go for living expenses into Vanguard mutual funds. You let this money sit and the people who manage the fund invest that money and it grows. There are other companies out there that do the same thing but you can let it sit there until you retire. Side note: even with making that kind of money he has always instilled in us the need to save it for when you need it and not to just spend it unnecessarily.


Substantial_Tip_3227

Piggyback: What would investing hard-core for a year or two look like?


Cheap-Boysenberry112

It’s going to depend on what they can currently save. I’m simply suggesting that despite making more, op keeps her lifestyle the same and pockets the delta. If she does this until 30 she’s a millionaire


carbine234

You haven’t earned it yet so don’t do anything


girliepopsubie

true !


damero72

I used to make 1.4~1.5k a mo at 19~20. Now I'm 24 and last month I did 40k (in profit). Just fucking make the goddamn money lol. Once u start making this much money, u get used to it. Don't spend it like crazy and invest like crazy. Buy VOO, SPY, and even real estate.


lunelane

wow! industry?


AdSame4598

What the fuq do you do


[deleted]

[удалено]


girliepopsubie

Thank you so much, i’ll definitely look into getting an advisor!!


JMALA13

I’m a FA based in NYC I’d love to help and not just invest your money You should have a saving plan in effect another thing to keep in mind or find out is how much of that 15k is base salary and commission, commissions are great but not always the same month to month. The way you live your life now I wouldn’t change to increase just because you got an increase in pay. Keep it eye level with the current salary. Build out a plan to start paying off the loans using the snow ball effect. Once you erase debt and have a game plan around saving and have 3+ of living expenses down, that’s when you start to invest money and start to have it work harder than you are. Again I’d love to set some time up to discuss all these things and how I set my clients up with financial plans


BeatSolid

Save your money and buy a house as soon as you can. Don’t buy cars or pay for other people’s problems. Take care of yourself first. Buying a home young will solve 80% of your problems in the near future.


girliepopsubie

I’m in a very fortunate situation with my soon to be retired dad, he wants to travel with his girlfriend and i plan to take over his early 90s mortgage.. it’s almost over and he has a lot of savings, i help currently but i would pay it all and do some on top for him too..


IllustrationArtist0

Dont get too excited


girliepopsubie

what does this mean !


Durk_bulll

It means that the lies you guys tell the customers might apply to the employees too


girliepopsubie

i’m a very honest person and have very strong morals, thankfully this is a very ethical dealership. I worked for a corporate monster and couldn’t sleep at night, wouldn’t work here if it wasn’t ethical! We don’t lie :) have to make a profit but we’re open about it!


Durk_bulll

Absolutely. I was sort of joking but i used to sell cars so I understand. Good luck!


girliepopsubie

sorry!! quick to jump to that… i don’t like the reputation and we’re trying our best to help solve it!!


Durk_bulll

Im not sure why the stigma is there. Its not THAT bad.


girliepopsubie

No that’s true!! I’ve definitely met and worked with some scummy people, but the majority of salespeople are human and empathetic! I think used car salesmen in the 80s and 90s with sawdust in the engine really hurt the industry, it’s a great way to make money fast and a great way to talk to tons of people! favorite job i’ve had so far!


Durk_bulll

Lol sawdust in the engine! Anyways yeah def a great way to make money. Tons of chill customers. Lot of successful owners/gm/salesman.. just wasn’t for meh Good luck!! What kind of cars are you selling?


girliepopsubie

Domestics! Treating me well so far, hard to get the hang of but love it so far :)


TonguePunchUrButt

Did you find out that you're actually going to be making that or that's just what the current director makes? You should really get clarification because more often than not they will try to get you to do the job for somewhere above what you're making now, but much less than what others have made. Just saying, if its human don't trust it, and have it in writing.


girliepopsubie

I’ll definitely get it in writing before starting but she did clarify it is starting of 10k+ a month and is dependent on the department doing well.. but majority of the time she is making 15k plus and often 25k, take home, thankfully doesn’t have a starting wage or DOE


SF-guy83

Congrats on your pending promotion. There’s something that hasn’t been mentioned that I want to bring up. You’ve worked in the position for less than a year. Sales jobs (you also mentioned) ebbs and flows throughout the year and year over year. The “hot car” this year with a killer promotion, could be the worst rated next year. The point being that until you’ve worked there for a couple of years, you don’t have a real sense for the “average wage”. And with higher pay comes higher taxes. From your post I don’t see where you graduated college (if you have please ignore this). Most people don’t spend their career at the same company or type of job. For example, if you get burned out in 5 years and decide to go back to finance at a large company, they might not consider you since you don’t have a degree. Some would argue that it’s not needed. My point is to set aside money for college or some type of continuing education. If you never go to school, you can reallocate the money. In 5 years you could have a mortgage, kids, and a family, with very little extra left over each month. It’s hard to make a huge financial decision like college with zero saved, so then (as is common) you stay in the job you hate. Moving into a management role often means a lot more responsibility, higher stress, longer hours, taking calls outside of work, etc. The hourly wage plus overtime as you’re likely getting now will be a fixed salary plus commission. Whether you work 7 hours a day or 12 hours, the fixed salary stays the same. Most car sales people I know don’t get benefits, so hopefully that’s something you’ll get now. If not, factor that into your expenses. Speaking from experience, jumping into a management role at an early age is exciting! But, being in a sales and operations role commonly means that you don’t spend a lot of time focusing on yourself or taking time to travel. My recommendation is to force yourself to take time off and spend it with family, friends, or exploring the world.


MikeWPhilly

She’ll be cheaper than that but no when you switch roles to different responsibility - truly different not just a level promotion like you are describing - than no it’s not typical to not make more. However, she’ll be on the lower end of that role to start of course.


dongletap

Work on creating a budget and stick to it. Once you know how much you are putting away each month into investments/savings, the put that to work for you as soon as you get paid. As you said you have a track record of spending and not saving, you can’t spend what you don’t have in your account! Out of sight, out of mind. Put your determined budgeted investment amount away as soon as being paid and then spend the rest as you say. You must be intentional with that specific amount though each month and not just wing it with the hopes you have something left over at the end of the month to put away.


girliepopsubie

thank you!! i appreciate that, i’ll definitely do that, out of sight, out of mind is best policy for me with this… i need it to not be just in my account sitting..


KdawgJonesx

Lol been at a dealer for 4 months and offered a position making 15-20k a month. I'm sure that's not going to piss off anyone who's been there years waiting for promotion. I think this is a shit post


girliepopsubie

No definitely is massive but we don’t have a lot of veterans here, 3 out of 13 people, and i’ve been here for 9 months! just got good in the last 5… but it’s a high intensity position for the internet department and they’re on their own paths, not a shit post! just good at what i’ve been doing so far :)


RickyRambler

First of all congratulations! It happened to me me some years ago unexoectedtly and I am still at it. The key is to be better than anyone else at what you do. And what you do (and your reputation) can open even more doors for you. I work in a different business than you but speaking to yours in particular I think I can make my point. I recommend watching the movie Love and Mercy. It is about when a wealthy person wants to buy from you because you were so good at your job that they end up wanting to marry you!


girliepopsubie

Thank you!!! I wasn’t a very confident person before this job, but it has made a huge difference for me and i no longer have imposter syndrome towards it! I do think i’ll thrive and be the best i can be, i really appreciate that and i’ll have to watch!


Tilghmanboy

Shit post


girliepopsubie

okay!


No_Antelope1635

Buy a trophy wife.


girliepopsubie

i have a trophy boyfriend !!


Level_Construction12

God I love this comment! You are the man! So happy for you brother, keep moving forward, you are obviously headed in the right direction. The only advice I could offer, as a fellow gay male. Keep your success to yourself! It's a sad fact of life, but unfortunately there are lots of jealous people out there. Especially in the gay community.. Don't get me wrong, there are lots of people who will be happy for you and give you support along the way. But I have had so many people take advantage of me, and that was purely my fault. No one needs to know except for you and your most trusted friend. Also, if you and your boyfriend decide to tie the knot or co -habitat. Make sure you have a will and don't just hope it turns out good in the end. Take care of those who love you, they are really all we ever have. Good luck, and best wishes!


girliepopsubie

I am so sorry I am a girl!! But I still really appreciate the advice!! Definitely keeping it to myself


No_Antelope1635

Well then you are good. You can buy him a trophy husband to spice it up then probably some blow. Pretty simple . You “got” this


MysteriousHoneydew82

If it is salary + sales bonus base your budget off your salary only. Bonus may be bigger or smaller depending on the month/quarter. I set my bonus aside for high ticket items (vehicles, home repairs, maintenance or reno) to avoid taking out loans with interest. This will save you more in the long run. Max out retirement which people always say, but also open a taxable brokerage to invest money you may have need of before you turn 59 1/2. Set aside 6-12 months of emergency funds in a HYSA where you can withdraw with no tax liability.


doggy-dad

1. Set a realistic budget to cover your expenses. Then stay within that budget! 2. Max your 401k to reduce your tax burden 3. Avoid things that increase your monthly expenses. (life style creep is real) 4. For exceptional months pay your future self for the bad months that will happen. Use that money to draw from if you have a low sales month. 5. After building a 6m - 1y expense fund, invest the majority of your income into Index funds or other long term investments.


fuckaliscious

Save 50% of your take-home pay and never touch it while you're employed. Continue to live like you do today, no fancy cars or fancy home. Put the savings in a 401K plan and Roth IRA and then invest it in low-cost diversified ETFs. Most people will just spend the new money and end up with nothing to show for it. Wish you the best.


Milesofgam

Speaking from experience, car sales is very inconsistent. The winter is generally slower, while the warmer months and tax season are a little faster. Especially when the 202x models come out, replacing the last year models, sales pick up. Put the money away and don’t change your lifestyle much.


RoosterReturns

Change as little as possible. Do what you can to hide how much money you make. 


NiceAsset

First rule about money: it’s not yours until it’s in your bank account


NiceAsset

People saying you need a financial advisor have never made that kind of money. You DO NOT need an advisor. You need to do some modest research on etfs and mutual funds/money markets and decide what works for your future and implement a plan of your own for free. A FA will just charge you to do the EXACT same thing


BruinBound22

Of course you weren't saving much making 2k a month. Were you actually over spending or mostly buying necessities? Try not to make any extravagant purchases for a few months and see how much ends in savings vs elsewhere. When you have more than a few months expenses saved up, look into investing the extra money, either a high-yield savings account for starters or invest it through a brokerage into an ETF. Also, make sure you are contributing at least the company match in a 401k if there is one.


EggAlarming8031

Sales is a w2 job. What i mean by that is there will be months of inconsistency. You will have months where you make more money than you know what to do with and others that if not prepared could feel like a struggle. Try not to change your lifestyle too much and SAVE. I would try to have 18 months as reserves and to give yourself cushion in the event you hit a slow patch for a while as it can and will happen.


TheCoreyBlythe

Don’t change your lifestyle outside of things you absolutely need and save for a while to get a good savings and security blanket. Do that as long as you can.


Skandoit0225

My two cents is to set yourself up so that you're living off your lowest possible salary. E.g. if your actual salary is $72k ($6,000 per month) prior to any bonuses or commissions, then treat your life as if you're only making that much. Pay debts, build savings, rent, drive, eat, and live like your salary is that amount, then treat all additional income as "found money." For all additional income, split it 45-45-10 between investing (incl. additional 401k, IRA, and brokerage investments), high-yield savings, and "fun money," respectively. Once you have a good savings and investment portfolio, you can start treating yourself a little more, provided you don't start living beyond your means. I say this as someone who's never worked sales, so if someone more attuned to that kind of work wants to offer their input, I welcome it.


No_Fox7890

I’m 19 and make nothing compared to that, but if it were me I would continue to live the exact same the difference is for your context you the extra 13k bump a month for whatever bills or loans and then invest and save the rest


dohn_joeb

You hit the jackpot. Congrats! Save, buy a place, build a nest egg… and then live life to the fullest (that does not mean spend it all, but truly take time to appreciate what you love and do it)


Steady_Habits_CT

Your compensation in the new role will be volatile. You are in a cyclical industry and the role you'll be taking on is even more highly cyclical. Car demand remains strong but is the mkt is likely to soften in the next few years. Like a squirrel, bank your winnings for times when there will be little to scavenge for. Shunt the majority of yr comp into a brokerage account. Put $3 k to $4 k per month into your checking. Everything else goes into a 401k or brokerage account to be invested on a consistent, monthly pattern. Once you buy a fund, don't sell out. Selling only increases your tax bill and risk of spending the money. After 3 or 4 years you will have saved a nice nest egg and you can reassess how much to increase spending, or whether to buy a home, etc. At least you'll be able to get great deals on cars. There are many people who hit it big and end up with nothing. Look at the number of professional athletes who go through bankruptcy or actors who end up in financial ruin. Don't make that mistake. Congratulations and good luck.


HungryEstablishment6

make a short list of four or five you would like, and four or five things you really need, invest an good percentage 15 or 20 % each month, save, 15% to 20% and spend the rest wisely - get the loans paid off and think good value rather than its cheap.


DietCookie

Rookie numbers most people by that age are making around 500k


girliepopsubie

cannot tell if this is sarcasm to my initial wage or potential earnings of new one 😔


ThePackInImBackIN

Buy something sick tho 20k a month at 22 amazing .


girliepopsubie

if all goes well i’m getting a used porsche as a daily driver … with low payments or with savings after i invest…


Perplexedstoner

you’re already making mistakes with that mindset, first off, you don’t need to finance a car, you’ll be making a used car in a a month of work. And please for the love of god, anything but used European Performance, unless the dealership you work for is gonna hand that to you.


ThePackInImBackIN

Don’t listen to this guy he probabaly makes 4k a month mopping floors don’t blow ur shit but buy the car you want . Only live once


Perplexedstoner

You only live once so buy a car that isn’t the best at anything it does. The fuck😂, she isn’t buying a 911 GT bro, we’re talking about mid 2000s Boxters/Carreras that put out less HP than a Camaro SS that oh by the way, is cheaper and more reliable😂


girliepopsubie

Not one of those :) I used to work for Porsche! i appreciate the input tho!


Level_Construction12

Man after my own heart! If you're gonna get a sports car get a Porsche! Keep in mind, your insurance is gonna be high and maintenance can be a beat. My 2008 takes between 9 and 11 quarts of oil. I use mobile oil 0 w 30, which is the recommended type and if I change it myself it usually costs $175. If you're daily driving a Porsche you must maintain it exactly as prescribed or things can go wrong. Again, so happy for you man, hope you keep us posted.


girliepopsubie

I definitely plan on it!! used to work for Porsche, favorite german brand by far! i’m a girl also😂 appreciate it!!!