I'm close to my fourth year at Synthes and Ive done well with my team. I've been to AO events and training courses with my docs and Ive met quite a few old Synthes guys and new much more successful Synthes guys than me. My question: isn't anyone saving their money? I have had guys say they made 400k for a few years or are just falling under 300k or have made a consistent 225k for a decade. Why are you guys still around? Havent your savings and investments over your careers put you into a spot to walk away? I'm in a north east city and I cant believe what Ive saved over the last 3 years. I think I can walk in another 3-5 years and be done working before I hit 39-40. Besides just the desire to make more and more money. Whats keeping you here. Are you just spending it all?
My guess is 2 out of 3 Reps are pretty much spending what they make though I'm sure 99% of us are investing well via the 401k. I have been with the company 8 years and have made about $2.2 million in that time. With matches I've put 15% in the 401k and another 15% via Roth and side investments for a total of about $600k. We all work hard for our money and my attitude is take advantage of it while I can, there's no guarantee this type of income will be available to a guy like me for much longer. Just my approach.
does the original poster live w/ mommy & daddy? Or are you 55 y/o? So many variables & questions......if you're fat & old, time to move on old man. #respect
In approx 17 years I've been fortunate enough to earn 4.76M & have approx 2.1M total in 401k, cash, IRAs and other brokerage accounts. I've been saving aggressively and methodically since then. Although I could probably retire now, I'm about 10 years away from what JnJ considers retirement age. Despite that large sum my family doesn't live or act like millionaires...The reason why I stay, is because I still enjoy my work that I'm darn good at. Yes our pay will likely be going down as our growth slows, but as long as the work we do is still enjoyable, as long as we're still reasonably paid, I'll stay. With good team partners, QOL has gone up dramatically. Pay has decreased from the Synthes hey days, but the improvement in QOL has offset that. Once % go below 11% split amongst teams, it will be time to retire early and open up a business. Once this happens our growth & revenue will further slow.
Millenial snowflake, business owners know that unlike previous generations you lack loyalty and a spine. When I grew up you only got trophies if you won. Have fun buying homes and saving for the future. You will need it.
I agree.... not sure what the other consultants spend their money on and how they manage it... I've been doing this for 5/6 yrs and have saved 5-600. But then again- most people live and enjoy life through spending... From my local viewpoint, most guys are consumed with spending money on their families/au pairs/private schools and 3-4 cars in the household.
