I failed!!!!

[onefastpony]

As some of you on here know I failed out of the FE business back in early 2015. It wasn't for me not working or being coachable; the reason I failed out is because I was horrible with money management. I had never made that amount of money before and didn't have a budgeting mindset, I bought whatever I wanted. It all caught up to me at tax time in April 2015 when I had to pay 25K to the IRS.

So, to appease my wife I went to work at a JOB, got my self on a budget and got better with money handling. It has been a struggle over the past two and half years since my income took a huge hit by getting a JOB, which my income was just barely covering household expenses.

This past October I said enough is enough of the JOB life and decided to enter back into the FE business since I knew I could produce and make great money. I finally set up three different accounts, one for taxes, one for business, and one for personal, this isn't what I had done before. Prior I had all my moneys going into one personal account and my wife and I used that for everything.

I reached back out to Joe Ciaccio at EFES and asked if it would be okay to write with him again, and he was receptive. I can honestly say that Joe has gone above and beyond in helping me get reappointed back with my carriers.

Knowing that I didn't have the funds to start on the lead program right away, I signed up for Josh's mail list and started knocking doors. I went out this past week and wrote 4K premium just off of a targeted mail list. I will definitely not keep doing that. As soon as I get my lead capital set aside I will be getting on DM as that is way more productive. However, I must say that of only knocking on doors for four days this past week and writing six polices, it was pretty good; just have to knock on A LOT of doors.

So all this is said to say that it is good to be back and I look forward to contributing.


Please no bashing, I've done that to myself over the past two and half years.

 

[SPUR CITY]

As some of you on here know I failed out of the FE business back in early 2015. It wasn't for me not working or being coachable; the reason I failed out is because I was horrible with money management. I had never made that amount of money before and didn't have a budgeting mindset, I bought whatever I wanted. It all caught up to me at tax time in April 2015 when I had to pay 25K to the IRS.

So, to appease my wife I went to work at a JOB, got my self on a budget and got better with money handling. It has been a struggle over the past two and half years since my income took a huge hit by getting a JOB, which my income was just barely covering household expenses.

This past October I said enough is enough of the JOB life and decided to enter back into the FE business since I knew I could produce and make great money. I finally set up three different accounts, one for taxes, one for business, and one for personal, this isn't what I had done before. Prior I had all my moneys going into one personal account and my wife and I used that for everything.

I reached back out to Joe Ciaccio at EFES and asked if it would be okay to write with him again, and he was receptive. I can honestly say that Joe has gone above and beyond in helping me get reappointed back with my carriers.

Knowing that I didn't have the funds to start on the lead program right away, I signed up for Josh's mail list and started knocking doors. I went out this past week and wrote 4K premium just off of a targeted mail list. I will definitely not keep doing that. As soon as I get my lead capital set aside I will be getting on DM as that is way more productive. However, I must say that of only knocking on doors for four days this past week and writing six polices, it was pretty good; just have to knock on A LOT of doors.

So all this is said to say that it is good to be back and I look forward to contributing.


Please no bashing, I've done that to myself over the past two and half years.

Welcome back to the game! Sounds like you learned a valuable lesson and won't make the same mistake twice. It's good to have you back.

 

[jdeasy]

As some of you on here know I failed out of the FE business back in early 2015. It wasn't for me not working or being coachable; the reason I failed out is because I was horrible with money management. I had never made that amount of money before and didn't have a budgeting mindset, I bought whatever I wanted. It all caught up to me at tax time in April 2015 when I had to pay 25K to the IRS.

So, to appease my wife I went to work at a JOB, got my self on a budget and got better with money handling. It has been a struggle over the past two and half years since my income took a huge hit by getting a JOB, which my income was just barely covering household expenses.

This past October I said enough is enough of the JOB life and decided to enter back into the FE business since I knew I could produce and make great money. I finally set up three different accounts, one for taxes, one for business, and one for personal, this isn't what I had done before. Prior I had all my moneys going into one personal account and my wife and I used that for everything.

I reached back out to Joe Ciaccio at EFES and asked if it would be okay to write with him again, and he was receptive. I can honestly say that Joe has gone above and beyond in helping me get reappointed back with my carriers.

Knowing that I didn't have the funds to start on the lead program right away, I signed up for Josh's mail list and started knocking doors. I went out this past week and wrote 4K premium just off of a targeted mail list. I will definitely not keep doing that. As soon as I get my lead capital set aside I will be getting on DM as that is way more productive. However, I must say that of only knocking on doors for four days this past week and writing six polices, it was pretty good; just have to knock on A LOT of doors.

So all this is said to say that it is good to be back and I look forward to contributing.


Please no bashing, I've done that to myself over the past two and half years.

Welcome back, Chris!! And Merry Christmas!

 

[rousemark]

As some of you on here know I failed out of the FE business back in early 2015. It wasn't for me not working or being coachable; the reason I failed out is because I was horrible with money management. I had never made that amount of money before and didn't have a budgeting mindset, I bought whatever I wanted. It all caught up to me at tax time in April 2015 when I had to pay 25K to the IRS.

So, to appease my wife I went to work at a JOB, got my self on a budget and got better with money handling. It has been a struggle over the past two and half years since my income took a huge hit by getting a JOB, which my income was just barely covering household expenses.

This past October I said enough is enough of the JOB life and decided to enter back into the FE business since I knew I could produce and make great money. I finally set up three different accounts, one for taxes, one for business, and one for personal, this isn't what I had done before. Prior I had all my moneys going into one personal account and my wife and I used that for everything.

I reached back out to Joe Ciaccio at EFES and asked if it would be okay to write with him again, and he was receptive. I can honestly say that Joe has gone above and beyond in helping me get reappointed back with my carriers.

Knowing that I didn't have the funds to start on the lead program right away, I signed up for Josh's mail list and started knocking doors. I went out this past week and wrote 4K premium just off of a targeted mail list. I will definitely not keep doing that. As soon as I get my lead capital set aside I will be getting on DM as that is way more productive. However, I must say that of only knocking on doors for four days this past week and writing six polices, it was pretty good; just have to knock on A LOT of doors.

So all this is said to say that it is good to be back and I look forward to contributing.


Please no bashing, I've done that to myself over the past two and half years.

Welcome back and wish you tons of success.. Bashing? A man who makes a mistake, recognizes it, admits, it and corrects it deserves to be praised not bashed.

 

[adjusterjack]

Congratulations. You done good.

Your post should be titled: "I succeeded."

 

[nfl72]

In this business it is extremely important to keep all receipts and keep good records. I got audited in 2014 and 2015. After about 2 months of going back and forth and disclosing all my bank and credit card statements, it was determined I owed them an additional $1200. It was the best $1200 I have ever spent!

In the past I could usually come up with enough expenses to keep my owed taxes in check. In 2016 I had to write a big check to the IRS. I believe 2017 is going to be even worse. I may even have to sell some toys.
​

Good job Chris and welcome back. I always enjoyed reading your posts in the past and I am glad your back.

 

[Newby]

In this business it is extremely important to keep all receipts and keep good records. I got audited in 2014 and 2015. After about 2 months of going back and forth and disclosing all my bank and credit card statements, it was determined I owed them an additional $1200. It was the best $1200 I have ever spent!

In the past I could usually come up with enough expenses to keep my owed taxes in check. In 2016 I had to write a big check to the IRS. I believe 2017 is going to be even worse. I may even have to sell some toys.
​

Good job Chris and welcome back. I always enjoyed reading your posts in the past and I am glad your back.

If it comes to selling any toys be sure to list them here first. I'll bet you have some cool shit.

 

[indiana260]

I set up an S-Corp and pay myself as a w-2 employee now. Just enough to cover my household expenses. Then I profit sharing/bonus myself a quarterly check. This keeps me from paying self employment tax on every penny I make.

I don't understand it all totally that's why I got a good accountant.

 

[rousemark]

If it comes to selling any toys be sure to list them here first. I'll bet you have some cool shit.

Like a $100K speaker system in the living room?

 

[nfl72]

I think I posted a pic of my 1919 Harley. It has been in my family since the early 20's. I restored it about 4 or 5 years ago. Basically rebuilt the entire thing and put it back together. No paint work of any kind. It looks like a 100 year old bike should look. Rode hard and put away wet!

I really don't have anybody to leave it to as I only have one daughter. I have been thinking of selling it just can't seem to pull the plug. I've had some very good offers. My Grandfather rove it in the 20s and my father rode it to California and back twice in the 40's. It spent about 70 years all torn down in pieces scattered around an old dirt barn floor. I think it is worth more to me than anybody else. Its kind of fun to just sit on it. It brings back some great thoughts and memories.

I have ridden it 4 or 5 times around the neighborhood, usually after lounging around the pool, consuming large quantities of beer.