I drove for 29 years as a company driver, mostly LTL frozen. It worked for me because I drove for small company fleets. "Mom and Pop" operations, if you will. I was paid well and treated well. I never even considered buying my own truck. Thirty-odd years ago my wife asked me why I did not just get my own truck. I told her that the truck would get paid before she did. We never had that conversation after that.😄
I am a company driver 1099, I save $1000 every week and I made the sacrifice to live in the truck basically 3 weeks on 1 week off. I have one child and other few expenses. What this man is giving is sound advice and is very obtainable and true. I am fortunate to have a place to stay at my grandparents home (both deceased) after a bad breakup 3 years ago. I don’t have a car (saving up for one) but when I am in town rent a car for 5 days with Turo ($160) so I can get around town during hometime. A lot of people will never be successful because they don’t want to sacrifice what they have to now to live better later (instant gratification).
Yea you better be saving money to pay your quarterly taxes hope you have a good accountant to show you how to shelter your money otherwise the irs is gonna screw you bigtime, 1099 company driver is illegal for a reason
Thank you for your great advice. I just got my CDL permit, needed to hear this!! New to trucking trying to make the best decisions. Be safe out there!!
100% right, little to not bill is the way to go. I save $400-$500 a week. When I started… The only bills I had was cellphone bill, Hulu and Netflix bill. When I need need a break off the road. I did 4-5 day off. In a very nice hotel. Every few months. All the money, I save open more and more doors. To make more money. Its all about how much, you can save and what you do with it.
Your hilarious.. I save money jackass. I do my OWN NAILS HAIR & LASHES. Mind your business.. Nails FREE. $50 a year for supplies if that. LASHES..FREE less than $50.00 a year if that. hair less than $ 200 a YEAR...if that. You do the math. I'm sure you spend on what you want as well.. re read my name.. SON SOLDIER.. I don't take kindly to BULLIES.GO on now..
I did the same thing living in the truck, but I was doing lease purchase, I didn’t have any major breakdowns. I was running so hard in the last 6 months my gross income was 79,000$ and I did save almost 55,000$ man I couldn’t believe it my self I can save that amount of money in 6 months 😊
I've been trucking since 2011,and I've been telling single young guys exactly what u pointed out. I got my self involve with a lady and then kids, so I wasn't able to take advantage. (The company is using your services while u are using their equipment as a home) stack your $$$ every week and keep $50-$60 in your pocket.
Thank you for this! I am in trucking school now and I received a grant to pay for the school. I planned on living on the truck and saving my money. Working to get additional streams of income is the way to go. No rent, mortgage or electric bill and my car is paid off! Additional streams! I will work on that. Thank you. You have moved my mind!
From being a delivery driver, time is money, the more runs I make the more money I make. Going into trucking, completed my 40 hours of class time, got my DOT physical, and my Class A learners permit. Won't be able to run as hard as I did doing deliveries but I'll be able to have only a primary job of the new trucking company I'm going to work for well and making a lot more money and not subjecting myself to the world of deliveries any more. Thanks for the advice.
I agree mostly but I’m a owner Opp and I’m literally able to save 70-100k every year because I don’t have a wife and kids and I have a maintenance account for my truck and a little warranty left on my truck. I pay people to do my taxes and I’m leased onto another company running under their authority so they actually keep my books for me. I only have to pay heavy highway tax and there’s a website that makes that easy to do as well. If you’re in trucking and you’re financially responsible the fastest way to become rich is to be an owner opp in my opinion. I did 266k last year in 9 and 1/2 months of working.
Keep going Owner Op works for some. I'm a company driver for now and happy to be. Maybe I will consider Owner Op later. I'm not oppose to it, but not interested either right now.
Hey boss man that's gross though right?. I have a wife and kids and we survive on 77k right now but some poor financial decisions have me struggling. Thinking of getting my own truck at some point in the near future.
I've been a company driver for over 25 years and I have no regrets. Local driving, paid by the hour (for every hour) and home every night. I'm not rich but I'm doing just fine, house paid for, no debt and a pretty decent amount of savings. I'm not sure what you consider "RICH" but you're most likely not going to achieve that by driving a truck. It varies depending on who you ask and where you live, but the minimum annual income to be considered rich in the US is between $540,000 to $815,000. That being said, you can easily make over $100,000 as a driver, which should provide you and your family a comfortable living.
I did not think such driving jobs existed anymore. I got paid for every minute my log book showed me on duty. Even when Americold would make me sit for 6-8 hours after my appointment. Those were the days.
I'm 26 and looking to start training for my CDL pretty soon. Seeing this inspired me a little, I have college debt / credit card debt that i'd like to pay off, and also looking to buy house hopefully by 30
Your living proof that knowledge ISN'T power...unless you execute that knowledge into action. I appreciate you sharing that knowledge. Be safe out there & I will follow you & your advice. 💵...
Outstanding take on it, bro! In my experience with trucking, it’s not how much you make but how much you don’t spend on the daily. And I’m talking of just getting ahead instead of getting rich. Living in your truck voids a lot of everyday expenses out there!
I agree with everything you've said except the best investment you can make is in your own business that you run & have direct control over. At least own the truck you're driving & you'll receive a significant income boost from it then you can invest that money elsewhere.
Thank you for the game you’re giving us just know your video was really helpful and is going to be helpful for a lot of other drivers thank you man. I highly appreciate it.
I haven't watched the videos but as a father of two and sole provider it is a struggle right now and my kids are small so not expensive yet. As young man just grind your bread stay single best thing you can do to build your wealth. I made some poor choices don't regret the family but it is tough to build upon this type of foundation.
I drive for Greyhound and I’ve been thinking about “moving back in” with family (and by that, I mean moving my pets back in and getting a storage unit for my personal stuff 😂), working out of a different domicile so I can stay out (paid for lodging), and when I come back for a day or two out of the month, I can put myself up in a hotel and go right back out. We get hourly pay, extra pay for being out over a day, meal allowances, and guaranteed pay. I’ve heard drivers who do things like this Can make close to or over 6 figures, and what I made last year working “comfortably” reflects that.
Word! Finally someone tell it like it is. If I knew about trucking and knowing I could of loved in it rent free I could of been rich earlier in life but not older not to late I own two trucks and have drivers on them while I am now unemployed and my trucks aka assets are making me money. I’m rich.!
So I should consider myself rich if I live in my truck, all the while not being able to enjoy the money I'm making from all these multiple income streams? Also how do I manage all these taco trucks and rental properties while I'm OTR truck driving? Can't trust other people to do it for me. Good thoughts though in general. Execution and having an exit plan is the key.
@@malikhunt9367you know how many middle class people who want to enter the elite upper class(rich/millionaire) and (wealthy/billionaire) waste their money on mercedes benz cars like Augustine Ramos said at the beginning of this video.
Rule of thumb for all single drivers… 50%of your check to reoccurring expenses 10% to investing 10% savings and 30% to fun. You can play around with the investing saving and fun percentages to meet your needs.
Less is more mentally!! Why buy a house when you can buy a 4plex and live there. Tenants pay mortgage and live for free. Drive a Nissan. No overhead season Learn it. 💪🏾💯🔥🔥🔥🔥
Where was you when I was driving over the road. I'm retired truck driver, no kids and never been married. I catching hell, living in an extended stay lodge, paying $276 a week on fix income of $1700 a month. I have truck insurance $118 a month and $200 a month for food. I'm debating on moving to Mexico 🇲🇽. I'm at an end.
Got rid of my debt by living in a truck being single paid my car off and motorcycle off and was living in a camper near by the yard and just finished paying my camper off, I just purchased my own rig and willing to pay that off next
I noticed you have a SF sweater on, I'm in the same area thinking about becoming a Truck Driver...can you recommend a company where I can do exactly as you have explained it?
He's right about the debt and frivolous spending (driving Mercedes and keeping up with the jones'). I have that book and I read atleast that far. I also just got my CDL and haven't landed a job yet, I live in a cargo trailer, so I don't have a mortgage and my car insurance isn't expensive. No kids. 28 and looking to invest. Got the Roth IRA, and I don't think otr scares me like it does a lotta guys (typically with kids). I'd rather not be an owner op I think, longterm... so this video was helpful. Thanks
Very good advice! I would add that you should research an IUL (indexed universal life insurance) which is an alternative to roth IRA and 401k, once you start making good cash flow
There is some life insurance investment product like MIA or something that sounded profitable with guaranteed returns and tax advantages but I can't remember what it is called. I wish I could remember.
Saved 300k as a company driver then owner op from age 22-26. Started a fleet of 5 and it’s been the worst decision ever. May start from scratch at 27 as a company driver again and buy real estate. No kids no car no wife no rent
Mega carriers are doing away with the personal conveyance rule and the Dot are putting drivers out of service for using it! Whether it's legal or not isn't the issue here. Just saying that a lot of companies do not let you use your truck for personal use.
The best way to become an owner operator is if you already have multiple streams of income before investing in a truck business. A lot of owner ops who fail are the ones who only had the truck as their stream of income. When it comes to anyone multiple streams of income is the only for sure way to build wealth.
Good vid bro. I preach the same. I retired at 33 in 2006 and spent 17 years non-stop traveling and living in 98 countries. I did this as a city driver, LTL working for only 8 years. Had I gone on the road, I would have retired in 4 years I'm back in the U.S for the first time in 17 years bc of the russian invasion. I was living in Ukraine and decided to come back for a while. Its cheap to travel the world. My net worth has actually grown in those years even though I live off of investment income Thinking of driving seasonal for UPS or getting a gig with a construction company so I can go on unempoloyment during the cold months. Maybe even drive for a temp service so I can pp.huckk off and travel when I want
In that process right now my son will be born in 2 weeks after that I’ll be starting cdl school trying to buy a house & a duplexes to rent out just don’t know how I’ll do it with my son be born…
@@drmidnight680-kz2le 😂😂if you say so buddy I’ve been doing hvac for 5 years looking for something new I’m not poor like you credit score well over 770 with $20k in saving so who are you to say I don’t qualify lmfao you probably live on section 8 housing or with your mom keep living under a rock buddy…I can put a down payment right now if I chose too but trying to see if I’ll continue to live in Miami or move to another state & go else we’re wish you the best with the negativity hopefully your living a good life and not struggling go get a trade or something instead of hoping on someone’s down fall💯
Im a week away from the cdl test I plan on doing company work and when I have enough money I’ll get my own rig or take that money and study software engineering but making money at home might be the way to go
You make a lot of good points. However, being happy is number 1. Banking every dollar, every day, is not happy. It’s miserable. Do what makes you happy!
You can only put $6500 into a Roth ira a year. If you are going to invest your money into a Roth make sure you pick company’s that have history beating the stock market. Also make sure to pick 4 company’s small cap/ mid cap/ large cap and international
I agreed with most of what was said here. Where I would disagree is with the notion that a trucking business is the only business that has random expenses setting you back and that you should get a second business to help pay for your trucking business. If you make more with a trucking business and you live by the principals explained in the first part of this video then that extra income from your own trucking business is like having a second income stream. you can put that away for an emergency fund. you don't have to re-invest 100% of your earnings. And other businesses have their own random expenses. Owning rental properties for example can hit you with evictions and huge damages to the property. Most of the time it's fine but sometimes you get unlucky with a tenant. Plus you gotta think about the time it takes to have your attention divided in multiple income streams. Time was mentioned in this video as well as a precious resource and focusing on one business and scaling that business for some or even most people could be the best way to go if the finances are handled properly. Diversifying isn't bad but it's best to do that once you have a profitable business that you can focus on until it's ready to scale and you can step back and hire out the day to day stuff.
this was some of the most sound information that i have heard about trucking and finances in some time 👌, and it's usually the ones that fall into the keep up to be up mindset that make the cash but spend it as fast as their making it, and become material asset poor for no reason other than to impress or be like who doesn't even take care of them to begin with smh 🤦🏻
I live full-time in the truck, and I gave up my apartment and sold my car in the very beginning. I invest roughly half my income in low-cost ETFs and have no desire to get into real estate. It's simple math.. invest a large percentage of your income consistently, and you will reach financial independence. I have been considering becoming an O/O in a few years, but this industry may not allow for the small guys by then, so I'm still on the edge. O/O takes on a lot of risk, especially starting out.
This dude said if he had kids he would live in a semi bad neighborhood 😂 that’s crazy then your kids will grow up to be a product of that environment. I get what he’s saying live below your means but you also have to enjoy life it’s all about balance
If you have a bunch of money going to something that’s giving you cash back that’s your only option of real getting “rich “ . A taco truck is still expenses going out to get more then its own asset is generating.
If you young and single, yes I can see this happening, but you Gotta do it while you’re young and single.. oh and trucking is not all healthy anyway shit sucks. I’ve been driving since 05.
thanks for this. its helping me make some decisions. i'd already decided to go get a cdl, but you did make some great points. oh, and just an fyi for you on the amounts you are using- the max a person can make and still contribute to a roth or traditional ira is $143,999/year agi for 2022 and $153,000 agi for 2023. and the max you can contribute to an ira is $6500 this year, so about $525 a month or if older than 50 can contribute $7500/year
Men who start a family without becoming financially stable first or building wealth first is like walking in quicksand with two 45 pound plates and trying to stay above ground.
I’m 26-0 no baby’s no lady. You sound like my brother. I honestly would love to save stack my money and just live in a truck and occasionally come back to my moms place
I drove for 29 years as a company driver, mostly LTL frozen. It worked for me because I drove for small company fleets. "Mom and Pop" operations, if you will. I was paid well and treated well. I never even considered buying my own truck. Thirty-odd years ago my wife asked me why I did not just get my own truck. I told her that the truck would get paid before she did. We never had that conversation after that.😄
The truck get paid before her that's true 😂
😅😅😅😅😅😅😅😅😅😅😅😅 brilliant response brother
Hahahah awesome
😂😂 that's right.
@@darronnewson1894 😄
I am a company driver 1099, I save $1000 every week and I made the sacrifice to live in the truck basically 3 weeks on 1 week off. I have one child and other few expenses. What this man is giving is sound advice and is very obtainable and true. I am fortunate to have a place to stay at my grandparents home (both deceased) after a bad breakup 3 years ago. I don’t have a car (saving up for one) but when I am in town rent a car for 5 days with Turo ($160) so I can get around town during hometime. A lot of people will never be successful because they don’t want to sacrifice what they have to now to live better later (instant gratification).
You save $1000 a week as a company driver?
@@kinggood9404 yes only because of my situation I have small expenses and taking full advantage of that.
@@kinggood9404 minimize your liabilities and increase your assets.
Yea you better be saving money to pay your quarterly taxes hope you have a good accountant to show you how to shelter your money otherwise the irs is gonna screw you bigtime, 1099 company driver is illegal for a reason
@@Truckincarnivore already covered buddy I have a tax consultant
Thank you for your great advice. I just got my CDL permit, needed to hear this!! New to trucking trying to make the best decisions. Be safe out there!!
i m getting permit too so hope can following soon
@@hunsanile6397 good luck and congratulations 🎈🍾🎊
100% right, little to not bill is the way to go. I save $400-$500 a week. When I started… The only bills I had was cellphone bill, Hulu and Netflix bill. When I need need a break off the road. I did 4-5 day off. In a very nice hotel. Every few months. All the money, I save open more and more doors. To make more money. Its all about how much, you can save and what you do with it.
The last sentence tho, can’t escape being rich done right.
I stay in my truck and love it. If I need a break from it I’ll get a Airbnb other than that savings account look great. I want to build my own house.
Are you still on the road? How are things going?
@@amaranthinebeauty yes I only run the se region.
My brother got his house built ground up pretty quick trucking
When u say ur truck urm
When u say my truck what do u mean like urs?
I concur, living below your means is very important.
WRONG! I worked from 18 to 62 fulltime and NEVER lived below my means, I NEVER lived ABOVE my means.
Whatever worked for you, all good
@@bossonluvtrucking2771 That works for everyone.
Says a person that spends money on artificial hair, nails, and eyelashes 😅
Your hilarious..
I save money jackass. I do my OWN NAILS HAIR & LASHES.
Mind your business.. Nails FREE. $50 a year for supplies if that.
LASHES..FREE less than $50.00 a year if that.
hair less than $ 200 a YEAR...if that.
You do the math. I'm sure you spend on what you want as well.. re read my name.. SON SOLDIER.. I don't take kindly to BULLIES.GO on now..
Wow finally a real trucker with a real
View on the whole enchilada. Smart man! Great video!
Great video. My wife and I have same mindset. ALL ABOUT MINDSET!!! Keeping up with the jones is worst thing anyone can do.
This Is Hands Down Thee Best Trucking Advice Video On TH-cam , Keep Up The Good Work Bro. Thank You And Stay Blessed 💰
I did the same thing living in the truck, but I was doing lease purchase,
I didn’t have any major breakdowns.
I was running so hard in the last 6 months my gross income was 79,000$ and I did save almost 55,000$ man I couldn’t believe it my self I can save that amount of money in 6 months 😊
What company are you with if you don't mind me asking
What company are you leased with?
In 6 months shiii congrats man !
Your truck or company
I've been trucking since 2011,and I've been telling single young guys exactly what u pointed out. I got my self involve with a lady and then kids, so I wasn't able to take advantage. (The company is using your services while u are using their equipment as a home) stack your $$$ every week and keep $50-$60 in your pocket.
this is exactly why I plan to get into it a sa freshly single young man. saving up to get my CDL next year.
Have you made at least 500k?
Put the wife in storage and leave the kids with Grandma for awhile
@@BirdSpotter43 see u next year on the road bro #2025truckingnewage
$50-60 you can’t do anything with that these days, 😅
This is by far the most intelligent analysis I’ve ran into in a long time . God bless u sir 🙏
Thank you for this! I am in trucking school now and I received a grant to pay for the school. I planned on living on the truck and saving my money. Working to get additional streams of income is the way to go. No rent, mortgage or electric bill and my car is paid off! Additional streams! I will work on that. Thank you. You have moved my mind!
From being a delivery driver, time is money, the more runs I make the more money I make. Going into trucking, completed my 40 hours of class time, got my DOT physical, and my Class A learners permit. Won't be able to run as hard as I did doing deliveries but I'll be able to have only a primary job of the new trucking company I'm going to work for well and making a lot more money and not subjecting myself to the world of deliveries any more. Thanks for the advice.
7:02 getting rich by not actually appearing to be rich....solid gold nugget of jewels right there.
I agree mostly but I’m a owner Opp and I’m literally able to save 70-100k every year because I don’t have a wife and kids and I have a maintenance account for my truck and a little warranty left on my truck. I pay people to do my taxes and I’m leased onto another company running under their authority so they actually keep my books for me. I only have to pay heavy highway tax and there’s a website that makes that easy to do as well. If you’re in trucking and you’re financially responsible the fastest way to become rich is to be an owner opp in my opinion. I did 266k last year in 9 and 1/2 months of working.
What’s that website ? Drop the game playa
What’s the website ?
Keep going Owner Op works for some. I'm a company driver for now and happy to be. Maybe I will consider Owner Op later. I'm not oppose to it, but not interested either right now.
Hey boss man that's gross though right?. I have a wife and kids and we survive on 77k right now but some poor financial decisions have me struggling. Thinking of getting my own truck at some point in the near future.
Amazing, owner op is the only way 👌
watched twice! JUST UNBELIEVABLE! SO MUCH KNOWLEDGE IN THIS VIDEO MAN!
No lie. Owner operators be stressed tf out 😂
I've been a company driver for over 25 years and I have no regrets. Local driving, paid by the hour (for every hour) and home every night. I'm not rich but I'm doing just fine, house paid for, no debt and a pretty decent amount of savings. I'm not sure what you consider "RICH" but you're most likely not going to achieve that by driving a truck. It varies depending on who you ask and where you live, but the minimum annual income to be considered rich in the US is between $540,000 to $815,000. That being said, you can easily make over $100,000 as a driver, which should provide you and your family a comfortable living.
I did not think such driving jobs existed anymore. I got paid for every minute my log book showed me on duty. Even when Americold would make me sit for 6-8 hours after my appointment. Those were the days.
Well said it is about piece of mind not money.
I'm 26 and looking to start training for my CDL pretty soon. Seeing this inspired me a little, I have college debt / credit card debt that i'd like to pay off, and also looking to buy house hopefully by 30
@@madjax9158 make sure you get reliable information, not lies. Right now your eating $h*+ here.
Yes but that’s not the point of the video
This Guy Has It All Figured Out,
Spot On Great Video.
Your living proof that knowledge ISN'T power...unless you execute that knowledge into action. I appreciate you sharing that knowledge. Be safe out there & I will follow you & your advice. 💵...
Good video! My husband and I live in our truck full time. Our truck and trailer are paid off so we have very low expenses and can save a lot!
Good video brother very informative 5 years into trucking and you showed a different light of it god bless be safe🤙🏾
Outstanding take on it, bro! In my experience with trucking, it’s not how much you make but how much you don’t spend on the daily. And I’m talking of just getting ahead instead of getting rich. Living in your truck voids a lot of everyday expenses out there!
You're definitely right,,it's not all about money we make ,,it's all about how we save and spend.
thats any job tbh
I agree with everything you've said except the best investment you can make is in your own business that you run & have direct control over. At least own the truck you're driving & you'll receive a significant income boost from it then you can invest that money elsewhere.
Thank you for the game you’re giving us just know your video was really helpful and is going to be helpful for a lot of other drivers thank you man. I highly appreciate it.
Awesome words. My daughter will be done with high school 2024 and that’s exactly what I plan to do. Great words
Great video needed to see this recent CDL grad
Getting my CDL permit, you reminded me all about cash flow. Thanks.
I haven't watched the videos but as a father of two and sole provider it is a struggle right now and my kids are small so not expensive yet. As young man just grind your bread stay single best thing you can do to build your wealth. I made some poor choices don't regret the family but it is tough to build upon this type of foundation.
I drive for Greyhound and I’ve been thinking about “moving back in” with family (and by that, I mean moving my pets back in and getting a storage unit for my personal stuff 😂), working out of a different domicile so I can stay out (paid for lodging), and when I come back for a day or two out of the month, I can put myself up in a hotel and go right back out. We get hourly pay, extra pay for being out over a day, meal allowances, and guaranteed pay. I’ve heard drivers who do things like this Can make close to or over 6 figures, and what I made last year working “comfortably” reflects that.
Love these kind videos. Can tell you read that book.
this video alone, subscribed!
SMART MAN!
literate and well spoken!
GOLDEN INFO. EVERY. SECOND. GOLDEN INFORMATIONS.! THANK YOU SIR!
You brought tears to my eyes thank you sir.
Never take financial advise about getting rich from someone that isn’t rich lol
This video has over 3000 views, but only 200 and something likes!!! Why??? Because people cannot stand The truth. Very good video sir Stay blessed.
You are doing a really good thing here. Spot on.
I can’t even hate on u everything u said is da truth 💯
First 5 mins of this video too many gems 🔥 even got rich dad poor dad in the intro
Clear, simple n positive mind. Thumps up bro.
Word! Finally someone tell it like it is. If I knew about trucking and knowing I could of loved in it rent free I could of been rich earlier in life but not older not to late I own two trucks and have drivers on them while I am now unemployed and my trucks aka assets are making me money. I’m rich.!
So I should consider myself rich if I live in my truck, all the while not being able to enjoy the money I'm making from all these multiple income streams? Also how do I manage all these taco trucks and rental properties while I'm OTR truck driving? Can't trust other people to do it for me. Good thoughts though in general. Execution and having an exit plan is the key.
Finally, somebody who knows what he’s talking about!
Cool hoodie...my home town...meanwhile good sound advice Sir
Man this guy is a Genius! Giving out the Real Game!
Not game. Just some common sense
@@malikhunt9367whatever same thing.
@@malikhunt9367you know how many middle class people who want to enter the elite upper class(rich/millionaire) and (wealthy/billionaire) waste their money on mercedes benz cars like Augustine Ramos said at the beginning of this video.
Idc about being rich, i just want to live comfortably and buy my own house in time.
The realest guy on TH-cam with the best advice.💯
Rule of thumb for all single drivers… 50%of your check to reoccurring expenses 10% to investing 10% savings and 30% to fun. You can play around with the investing saving and fun percentages to meet your needs.
I’ve been a tanker yanker from 2006, I’m telling you , unless you have money put away to start, & deal with the bull today, stay a company driver.
Less is more mentally!! Why buy a house when you can buy a 4plex and live there. Tenants pay mortgage and live for free. Drive a Nissan. No overhead season Learn it. 💪🏾💯🔥🔥🔥🔥
Thank you for keeping it real bro !! 💯
Where was you when I was driving over the road. I'm retired truck driver, no kids and never been married. I catching hell, living in an extended stay lodge, paying $276 a week on fix income of $1700 a month. I have truck insurance $118 a month and $200 a month for food. I'm debating on moving to Mexico 🇲🇽. I'm at an end.
What happened may I ask ?
Man tbh, i cant understand why you wouldn't of realized this on your own. You were the one on the road. That should of came to you naturally.
Got rid of my debt by living in a truck being single paid my car off and motorcycle off and was living in a camper near by the yard and just finished paying my camper off, I just purchased my own rig and willing to pay that off next
Everything he said is common sense. Something seriously lacking in America today
Indeed, sir.
He’s not teaching you new truths he’s just reminding you. It’s a reminding section
Yeah...I thought he was going to give out some actual advice, not just state the obvious.
Same here. He really did not drop any gems. Basic common sense knowledge
Might be hard to believe but not everyone's parents are passing this to their kids and they damn sure aren't being taught it in school.
I noticed you have a SF sweater on, I'm in the same area thinking about becoming a Truck Driver...can you recommend a company where I can do exactly as you have explained it?
He's right about the debt and frivolous spending (driving Mercedes and keeping up with the jones'). I have that book and I read atleast that far. I also just got my CDL and haven't landed a job yet, I live in a cargo trailer, so I don't have a mortgage and my car insurance isn't expensive. No kids. 28 and looking to invest. Got the Roth IRA, and I don't think otr scares me like it does a lotta guys (typically with kids). I'd rather not be an owner op I think, longterm... so this video was helpful. Thanks
Very good advice! I would add that you should research an IUL (indexed universal life insurance) which is an alternative to roth IRA and 401k, once you start making good cash flow
There is some life insurance investment product like MIA or something that sounded profitable with guaranteed returns and tax advantages but I can't remember what it is called. I wish I could remember.
Saved 300k as a company driver then owner op from age 22-26. Started a fleet of 5 and it’s been the worst decision ever. May start from scratch at 27 as a company driver again and buy real estate. No kids no car no wife no rent
Yes you are depending on people unfortunately
@@michaelburton9120 yep, to much is out of your control. Your business and MC # depends on the competence of other drivers.
Did you start off your fleet with 5 trucks straight off the bat ? Or did you buy one then wait some time bought another ?
Best advice so far on trucking 👍
Mega carriers are doing away with the personal conveyance rule and the Dot are putting drivers out of service for using it! Whether it's legal or not isn't the issue here. Just saying that a lot of companies do not let you use your truck for personal use.
So rent a car. If that’s the least of your problems.
The best way to become an owner operator is if you already have multiple streams of income before investing in a truck business. A lot of owner ops who fail are the ones who only had the truck as their stream of income. When it comes to anyone multiple streams of income is the only for sure way to build wealth.
I wouldn't go near a truck for less than $30 per hr. I can go push shopping carts for $15
Good vid bro. I preach the same. I retired at 33 in 2006 and spent 17 years non-stop traveling and living in 98 countries. I did this as a city driver, LTL working for only 8 years. Had I gone on the road, I would have retired in 4 years
I'm back in the U.S for the first time in 17 years bc of the russian invasion. I was living in Ukraine and decided to come back for a while. Its cheap to travel the world. My net worth has actually grown in those years even though I live off of investment income
Thinking of driving seasonal for UPS or getting a gig with a construction company so I can go on unempoloyment during the cold months. Maybe even drive for a temp service so I can pp.huckk off and travel when I want
How much money did you need to retire? I've always wanted to move abroad as well. Also what did you invest in to live off of that income? Thanks
@@sparkyak213 probably inheritance $$$. He spent it all now and he doesn't know how to make his own money.
Bro this was gonna be my life before I started a family 😢
Just living in my truck and becoming a landlord 😎
In that process right now my son will be born in 2 weeks after that I’ll be starting cdl school trying to buy a house & a duplexes to rent out just don’t know how I’ll do it with my son be born…
@@lazarogonzalez4537 you wouldn't even do it if your son wasn't born because you don't qualify to be a home owner or buy rental property.
@@drmidnight680-kz2le 😂😂if you say so buddy I’ve been doing hvac for 5 years looking for something new I’m not poor like you credit score well over 770 with $20k in saving so who are you to say I don’t qualify lmfao you probably live on section 8 housing or with your mom keep living under a rock buddy…I can put a down payment right now if I chose too but trying to see if I’ll continue to live in Miami or move to another state & go else we’re wish you the best with the negativity hopefully your living a good life and not struggling go get a trade or something instead of hoping on someone’s down fall💯
@@lazarogonzalez4537you got this! Do your best and god will take care of the rest. Insha Allah
Good knowledge Augi Thank you. Keep rolling Bro.
Great video everything you stated was a fact just got a new subscriber!
Im a week away from the cdl test I plan on doing company work and when I have enough money I’ll get my own rig or take that money and study software engineering but making money at home might be the way to go
Please make a video regarding power inverters, & getting them installed?
I added one on an upcoming vlog
I just want to share your good work and let the world know how great and responsible you are gagnon willaims
My brother is an owner operator. He grosses approximately 250k and gets to keep maybe 70-80k of it.
You make a lot of good points. However, being happy is number 1. Banking every dollar, every day, is not happy. It’s miserable. Do what makes you happy!
Your very smart !!! Most wise thing I’ve since on you tube
Thanks for watching!
Just got my cdl and am using my cdl to invest in my beauty business and hopefully open a club or something would be my next goal
It doesn’t matter how much you or or even what you save it’s what you do with the money.
You can only put $6500 into a Roth ira a year. If you are going to invest your money into a Roth make sure you pick company’s that have history beating the stock market. Also make sure to pick 4 company’s small cap/ mid cap/ large cap and international
Can apply this message not just for trucking … Great video
Just the confirmation i needed!
I agreed with most of what was said here. Where I would disagree is with the notion that a trucking business is the only business that has random expenses setting you back and that you should get a second business to help pay for your trucking business. If you make more with a trucking business and you live by the principals explained in the first part of this video then that extra income from your own trucking business is like having a second income stream. you can put that away for an emergency fund. you don't have to re-invest 100% of your earnings. And other businesses have their own random expenses. Owning rental properties for example can hit you with evictions and huge damages to the property. Most of the time it's fine but sometimes you get unlucky with a tenant. Plus you gotta think about the time it takes to have your attention divided in multiple income streams. Time was mentioned in this video as well as a precious resource and focusing on one business and scaling that business for some or even most people could be the best way to go if the finances are handled properly.
Diversifying isn't bad but it's best to do that once you have a profitable business that you can focus on until it's ready to scale and you can step back and hire out the day to day stuff.
this was some of the most sound information that i have heard about trucking and finances in some time 👌, and it's usually the ones that fall into the keep up to be up mindset that make the cash but spend it as fast as their making it, and become material asset poor for no reason other than to impress or be like who doesn't even take care of them to begin with smh 🤦🏻
Everything you were saying is all smart let’s Go Team…. Multiple streams of income
I live full-time in the truck, and I gave up my apartment and sold my car in the very beginning. I invest roughly half my income in low-cost ETFs and have no desire to get into real estate. It's simple math.. invest a large percentage of your income consistently, and you will reach financial independence.
I have been considering becoming an O/O in a few years, but this industry may not allow for the small guys by then, so I'm still on the edge. O/O takes on a lot of risk, especially starting out.
This dude said if he had kids he would live in a semi bad neighborhood 😂 that’s crazy then your kids will grow up to be a product of that environment. I get what he’s saying live below your means but you also have to enjoy life it’s all about balance
If you have a bunch of money going to something that’s giving you cash back that’s your only option of real getting “rich “ . A taco truck is still expenses going out to get more then its own asset is generating.
Cash flow control your money don't let the money control you
If you young and single, yes I can see this happening, but you Gotta do it while you’re young and single.. oh and trucking is not all healthy anyway shit sucks. I’ve been driving since 05.
I agree it. Just don't have to many incidents and you'll be in the truck as long as you want.
Let’s not forget about that social media, influencer Bag! 💰
Yes ma’am!
Whats the best company to start out with. Im tlaming bout training from geound zero. No cdl never drove truck type training.
thanks for this. its helping me make some decisions. i'd already decided to go get a cdl, but you did make some great points. oh, and just an fyi for you on the amounts you are using- the max a person can make and still contribute to a roth or traditional ira is $143,999/year agi for 2022 and $153,000 agi for 2023. and the max you can contribute to an ira is $6500 this year, so about $525 a month or if older than 50 can contribute $7500/year
You can contribute up to $22,500 in a company sponsored Roth + $7,500 if you are over age 50.
A Roth IRA as well as other stocks are a scam. It will not preserve your wealth when they raise taxes.
What would you suggest a person can do once they max out their Roth IRA bro?
@Clos don't get an IRA. Purchase real estate. Saving $ aee for losers. Robert Kiyosaki would tell you that.
Dropping science. Much appreciated!
Men who start a family without becoming financially stable first or building wealth first is like walking in quicksand with two 45 pound plates and trying to stay above ground.
Hey Agustine 👋 Ramos droppin in to say hello new sub here.. hope all is well 🙏 good channel & content. Drive safe 👍
Keep it going I see you growing brotha. In your 46 follower.
Thanks for this. Great video
Actually I'm thinking on doing similar to what you said.
💯 I agree I been saying this
Your all ideas clicked in my mind 😊 and that's so true
I’m 26-0 no baby’s no lady. You sound like my brother. I honestly would love to save stack my money and just live in a truck and occasionally come back to my moms place
Yes you are right👍🏻👍🏻👍🏻
my idea was to live in the cab and get a house that i would make a rental