“It’s always a good time to be smart with dollar, smart with investments, and maybe look really strategically about how you spend money in the near future.” – David Weiss in today’s Tip 1200
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Scott Ingram: You’re listening to the Daily Sales Tips podcast and I’m your host, Scott Ingram. Today’s tip is self-explaining and introducing, so here it is:
David Weiss: Hello everyone. This is David Weiss and I have a sales success tip of the day. So Scott and I were just catching up recently and there’s a really exciting episode that we are going to be launching around side hustles and investing. And Scott and I were kind of going back a few years to a conversation we had after recent Sales Success Summit. And we were at breakfast and we were chatting and one of the things that came up was like investing and how to actually spend the commissions and money we make in sales and how to be smart about it and things along those lines.
I share with Scott at the time that one of the things I’ve always done is really tried to survive financially on whatever base salary I had, over-index on investments with any sort of commissions, prepare for taxes and things like that, and then take a percentage of it, whether it’s 10 or 15% annually, and then spend it on toys and fun and things like that, but really maxing out 401K and saving 30-40% of all of my commissions or more every single year.
Those are things that have really allowed my financial future to be very secure if you will. And when Scott and I were kind of chatting today and it was really interesting time, seeing how the market dipped about 1000 points last week and we were talking about how both of us see further correction coming. And we’re not financial advisors, we’re not licensed to give financial advice, but we’re kind of just looking at trends and recent market runs and things like that and just see maybe a tough period coming up. And so we were talking about how that conversation applies really well right now.
So as you all are going about your lives and hopefully having really successful years and getting those commission checks and things like that. Now is a really nice time to save, to invest smartly if there’s really good buys or things like that as the market makes a correction, scooping those up or saving money in cash for a solid rebound. But nonetheless, with any time there’s a correction in the market or things happen, there’s lots of uncertainty, whether that’s with jobs or finances or things like that. And anytime there’s uncertainty, it’s always a good time to be smart with dollar, smart with investments and maybe look really strategically about how you spend money in the near future. So even more so than we have because we’ve been on a little bit of a run and you kind of throw the dartboard and make some money recently.
So now it’s coming a time of maybe either derisking some things or being smarter with some of the things you choose to invest in. So really excited about this conversation that Scott and I just had and that’s a little sneak peek and we’re going to get into more investing advice from both of us over the years as well as how we’ve looked at side hustling and things like that. So excited for you to get a listing here in the near future and if I can do anything for you or help you with anything. Let me know. Thanks for listening. Bye.
Scott Ingram: For a link to that full bonus episode conversation that just released on the Sales Success Stories podcast this morning, just click over to top1.fm/investing, and if you’re on a $SALES coin quest. I actually snuck two drops into that one, so go check it out: top1.fm/investing
Once you’ve done that, be sure come back tomorrow for another great sales tip. Thanks for listening to tip number 1200, wow! You know what, that’s big and I didn’t even realize. Let’s celebrate. SalesCoin.co/1200. I’ll talk to you tomorrow.