Skyline
Master Don Juan
Some of you may or may not know, but I'm currently on the path to become a police officer. In my area they make about $50k a year after taxes, which isn't bad but I could be making more. That's just base pay, not including promotions and all of that.
Here's what I was about to do a few months before I started my career in law enforcement:
Please note that I actually want to become a car salesmen, it's not just about the money for this career.
I planned on becoming a salesman at a car dealership and work my way up to F&I, the starting pay for F&I managers is SALARIED at $110k-$118k plus commissions- WITHOUT a degree in anything. I would have to work my *ss off as a Internet Sales Manager and apply around for that next big raise and position. 3-4 years was the time that I feel that it will take me to become an F&I manager. I assumed that this was going to be a stressful period because sales is a very dynamic business.
So let's say I'm 21, 3-4 years of being a Salesperson would probably net me about $200k across those years. It's hard to pin point the exact amount because it is a commission job. I become an F&I manager for about 5 years and make $500k after taxes, plus that $180k after taxes I should now then have at least $680k. Take out living expenses, and If I manage my money correctly, I should be at around $500k by the time I'm 30. I plan on buying my mom's condo off of her and only having to pay for utilities while she goes off in another state and retires.
Now there's some options that I can do. I plan on getting a Master's degree in something, probably law to become a Judge, and joining a branch of the military for 4 years and have them pay for 4 years of that expense. A master's degree will cost me around $120k, most branches of the military pay you $20k a year which would be $80k across 4 years. The army will pay for 4 years of that $120k, which would now be $80k for the Master's, and then I just use the money that I got from the military to pay the rest.
My $500k is still in my bank, probably in a locked savings account building interest, while I'm away in the army.
Once I go to college for my Master's, I don't have to get a job because the military will fund my housing and I highly doubt I will spend more than $5,200 a month in an 8 year range when the military is giving me free housing. If the military does not fund my housing, I still have my mom's condo that I paid off. Again, I have to manage my money in order for this to work.
But in the event that an emergency occurs, I can drop out of college temporarily and get another job as an F&I manager. 1/4 car dealer's in your city are always hiring for an F&I, it's a demanding, high stress(not as high as police officer's however), and somewhat boring job but it will get the bills paid. My resume now has 3-4 years of sales, 5 years of F&I, 4 years of Military, and now a somewhat completed Master's degree. I will get re-hired quick and if it's not at a car dealership it will be somewhere else that pays 6 figures or more.
OR I could skip the military and just stay in F&I for 10 years, I would be the same age by then but have $1m in the bank, and after paying for a Master's degree and living I would be at around $700k. That's a lot of money for me in the course of 8 years, and not to mention investing money and I could definitely get into real estate with that hunk of money.
But If I do choose to go into the military, my resume will look like this: 3-4 years of sales, 5 years of F&I(which is already enough to get me most jobs paying 6 figures), 4 years of military experience, and now a Master's degree in whatever. I personally think I can get pretty much any job that I want with a resume like that. I'll be about 42 years old by the time this path is complete and I can literally never be broke because I have so many job options.
The police officer path ends in 25 years, when I'm 45, when I get half of my pay for the rest of my life including $1m in health insurance. I aim to get the highest rank possible while I do my time on the force so that figure is a bit dynamic. I was then going to retire as a driver's ed teacher or possibly become a car salesmen then.
But then again, If I go the sales route I could end up walking up to my mayor and submitting my resume in order to run my Police Department as a whole...
So become a police officer and work my way up or start out with sales and work my way on owning the whole station? The first option is hands down the easiest... The second is literally no sleep and work in an office setting all day. What do you guys think?
Here's what I was about to do a few months before I started my career in law enforcement:
Please note that I actually want to become a car salesmen, it's not just about the money for this career.
I planned on becoming a salesman at a car dealership and work my way up to F&I, the starting pay for F&I managers is SALARIED at $110k-$118k plus commissions- WITHOUT a degree in anything. I would have to work my *ss off as a Internet Sales Manager and apply around for that next big raise and position. 3-4 years was the time that I feel that it will take me to become an F&I manager. I assumed that this was going to be a stressful period because sales is a very dynamic business.
So let's say I'm 21, 3-4 years of being a Salesperson would probably net me about $200k across those years. It's hard to pin point the exact amount because it is a commission job. I become an F&I manager for about 5 years and make $500k after taxes, plus that $180k after taxes I should now then have at least $680k. Take out living expenses, and If I manage my money correctly, I should be at around $500k by the time I'm 30. I plan on buying my mom's condo off of her and only having to pay for utilities while she goes off in another state and retires.
Now there's some options that I can do. I plan on getting a Master's degree in something, probably law to become a Judge, and joining a branch of the military for 4 years and have them pay for 4 years of that expense. A master's degree will cost me around $120k, most branches of the military pay you $20k a year which would be $80k across 4 years. The army will pay for 4 years of that $120k, which would now be $80k for the Master's, and then I just use the money that I got from the military to pay the rest.
My $500k is still in my bank, probably in a locked savings account building interest, while I'm away in the army.
Once I go to college for my Master's, I don't have to get a job because the military will fund my housing and I highly doubt I will spend more than $5,200 a month in an 8 year range when the military is giving me free housing. If the military does not fund my housing, I still have my mom's condo that I paid off. Again, I have to manage my money in order for this to work.
But in the event that an emergency occurs, I can drop out of college temporarily and get another job as an F&I manager. 1/4 car dealer's in your city are always hiring for an F&I, it's a demanding, high stress(not as high as police officer's however), and somewhat boring job but it will get the bills paid. My resume now has 3-4 years of sales, 5 years of F&I, 4 years of Military, and now a somewhat completed Master's degree. I will get re-hired quick and if it's not at a car dealership it will be somewhere else that pays 6 figures or more.
OR I could skip the military and just stay in F&I for 10 years, I would be the same age by then but have $1m in the bank, and after paying for a Master's degree and living I would be at around $700k. That's a lot of money for me in the course of 8 years, and not to mention investing money and I could definitely get into real estate with that hunk of money.
But If I do choose to go into the military, my resume will look like this: 3-4 years of sales, 5 years of F&I(which is already enough to get me most jobs paying 6 figures), 4 years of military experience, and now a Master's degree in whatever. I personally think I can get pretty much any job that I want with a resume like that. I'll be about 42 years old by the time this path is complete and I can literally never be broke because I have so many job options.
The police officer path ends in 25 years, when I'm 45, when I get half of my pay for the rest of my life including $1m in health insurance. I aim to get the highest rank possible while I do my time on the force so that figure is a bit dynamic. I was then going to retire as a driver's ed teacher or possibly become a car salesmen then.
But then again, If I go the sales route I could end up walking up to my mayor and submitting my resume in order to run my Police Department as a whole...
So become a police officer and work my way up or start out with sales and work my way on owning the whole station? The first option is hands down the easiest... The second is literally no sleep and work in an office setting all day. What do you guys think?
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