Is it worth it, finanically speaking, to O/O...???

I wish that I were an angel so that your heart could have been 'touched by an angel'.

Duly noted--I am primarily, no matter what the business, at least until I am otherwise finanically sound or better yet financially independent, I will be in it for the money. If I open up a hot dog stand, and I love me some hot dog and potato chips, I would be doing so for the money. If I purchase a NFL football team, it would be for the money.

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This all said, if you are making '$2k/week take in the house money', then that is making money to me indeed~! That is a $100k/year pace! The absolute best I can hope for running for a Eastern European outlaw outfit to HOS rules is $1.4-1.6k/week 1099 or about $1.15-1.27k/week take in the house money. Bear in mind, I would still have no truck to depreciate, hence no tax-dodge that an O/O may have.

 

I know the tune, I grew up listening to my father playing 20-40s jazz music.

But uhm, I believe the 'that's got his own' means one has his or her own money i.e. not broke...

For instance, I wish I 'had my own'.

 

Hi, thanks to everyone for their input.

Regarding some of the input, in no particular order--

I likely do not have twenty years left in my actuarial life to get the 'requisite' experience that some have suggested. I also do not think I want to be driving a truck when I am north of 65 years of age. I understand that 12-18 months is kinda cutting it on the short side, but twenty years? How many of you O/Os think that trucking today is like it was twenty years ago?

What experience could I have learned in 1993 that would be applicable now or that I could not have learned in 2011? Also, twenty years before being an O/O is like forcing someone to team drive for three years until it is assured the one knows how to drive a truck.

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Regarding the 'Freedom' of Ownership

I hear all ye saying that O/O'ing is freedom. If it is sucessful, that is, if it provides one enough money to be free, alright, I get it. Karl Malone, the former NBA star for the Utah Jazz, is the only one I know that purchased a truck for purley fun.

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Regarding the rather be broke and free than be rich and slaven

Being broke is like being slaven or at least incarcerated. I am not a 60s flower child that can be happy with no belongings. Granted, I don't get thugs wanting to kick my backside like I might in prison, but I cannot say I am living the American Dream either. Being broke takes it toll on one's dignity and self esteem.

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Regarding cameras

Yes, if one points at me instead of out the window, I better be pulling in north of $100k/year 50 hour weeks W-2 with a good benefit package.

When I cash my first paycheck, if I ever earn another one trucking, is to get a dash cam.

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Regarding being O/O vs Company Driver

To me, making a meagar living, it matters not very much whether my efforts are for a Company or for myself. If I bank $50k/year after taxes O/O or C/D, I would likely chose O/O I suppose. If the figure drops down to say $35/year after taxes, I probably choose C/D. One in-frame could eat up six-months pay at $35k/year after taxes.

I've been through this as an O/O courier. The past few years I could not make enough to cover the 'deferred maintenance' of my van. Guess what? In the latter part of 2012, much of this 'deferred' maintenance came due in to the 'present'.

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The main idea in my head when starting this thread was this:

I was working 12-16 hour days making 'X'. If I O/O, could I make 175-200% of 'X' doing the same work? In a vaccum, comparing apples to apples, i.e. same trucks, if I don't get at least a 150% bump up in after-tax compensation, I likely will not feel the 'freedom' of being an O/O. I apologize if I dissapoint.

 

Here is an example of O/O'ing that makes me yawn...Technically it is a F/P (fleece purchase), but I am sure the numbers may be similar if the truck was purchased outright.

http://chicago.craigslist.org/sox/trp/3702589413.html