What To Do With It…

Jun 2, 2023

Last week, I ran into an old friend.

Let’s call him Jack. He is a good guy, a consummate sales professional. He’s in his mid-50s, he’s lean and tan and is blessed with one of those million-dollar smiles.

He projects confidence. And today, he projects something else. He’s sporting a new car. And, boy what a car. A veritable rocket ship, a super-smokin’ hot Jaguar F-Type, black on black. It’s gorgeous, throaty and intoxicating.

One thing about Jack is he definitely knows how to make money. He is pleasantly persistent, asks great questions, gets engaged when a prospect says, “No.” He knows what he is doing.

This new Jag is not an impulse purchase, is not at all out of his realm of affordability. He and his wife are knocking down $400k to $500k a year and are relatively savvy with their money, spending-wise. But, they are not long-term thinkers. They are not good investors. They tend to react in the moment, let fear and greed move them.

He, of course, asked me, “Gold or silver? Bitcoin now?? What are you buying?” He went on to explain that he dumped his stocks during the recent downturn, went to cash and is now looking for the next great thing.

Somewhat oddly, this is a problem for many high performing sale professionals, especially men. They absolutely know how to kill it and drag it home, but then what? They really don’t know what to do next, they don’t know how to manage the money they earn, make it work for them as hard they worked to earn it.

I run across this often. Many high-performing sales professionals are more focused on the quarterly sales quota than ten years from now. It’s their job, it’s their way of thinking. They are finely tuned to their sales cycle, not their life cycle. Their confidence and skill set doesn’t extend much beyond their quarterly quota.

There are a multitude of components to life. A good fit financial advisor can help combine a quarterly sales cycle with a longer-term life cycle, manage wealth professionally and develop a plan to make the most of today. Look for a fee-only CFP® and make the most of what you have for your whole life.