Thanks IP after two and half years of doing this Ive figured some of these things out and how to get around them buy now man. I changed my residency to a state which doesnt charge state income tax that i have family in. I have the dish net. bill there in my name, i am also registered to vote there, and have my vehicle titled there as well. Until late 2013 i had the same arrangement with another family member in my home state. Since i paid state taxes up until 2013 im kicking myself for not doing this sooner. I now take the money im saving in state taxes(about $2200/yr) and put it into my 401k(about $2700/yr) which my employer contributes to as well(brings it up $4900/yr). So accounting for the taxes ive saved and adding in the cost of dish network i pay for year($400) i figure my 401k cost me less than $1000 per yer although put in $4900 so when i retire early ill gladly pay the 10% penalty to cash out the 401k early, why not it didnt hardly cost me anything anyway. Boy i wish i would thought of doing it sooner.
Live in the truck save $ and become financially independent???
Discussion in 'Experienced Truckers' Advice' started by nofreetime, Apr 4, 2014.
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bergy and blairandgretchen Thank this.
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True, you can save some decent cash if you live in the truck and are careful with your money. The caveat here is that this plan will only work if you are either single, or your wife (or husband) lives with you in the truck. And if you have a family with kids and a home with either a mortgage or rent, saving becomes difficult if not to downright impossible. Truck drivers in general are not paid well, ($600.00- $750.00 average a week, sometimes, even less) especially if you drive for the big mega carriers.
If you are single, yes, even this salary can add up over time; but to support a family on this type of income will leave you with little, if anything, left over.
Myself, I too was living in Las Vegas. Had a nice home up on Charleston and Hollywood. Then I started driving for Conway Truckload for one year:
I have already posted on my thread in here, "Want to Stay Broke? Work for Conway!" exactly what my salary was; terrible. And I busted my tail. Had a family in my home to support also. We were as careful as possible with our money. Eventually, I began to fall behind on my house payments (which were not overly sizeable). We were unable to save any of the money that I earned. My credit went from very good to very poor. Something had to change, and quick. I had to get out and I did. Never looked back.
Good thing, too, otherwise Chinatown might have bought my house for $80,000! Lol!Last edited: Apr 4, 2014
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Actually, if you are a company driver they like nothing more than having their truck occupied 7/24/365 Funny as an owner of 25 trucks I do not allow my drivers to live in my trucks.
MY POST ABOUT ASKING WAS A RESULT OF KNOWING SOMEONE WHO DID NOT KNOW HE HAD A DRIVER BASICALLY SQUATTING IN 1 OF HIS TRUCKS UNTIL LOCAL ORDINANCE ENFORCED A BY LAW AND HE WAS FINED. -
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Why not??? WHY SHOULD I'm in the transportation business not housing
blairandgretchen Thanks this. -
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I get what you are saying though. My company would be upset if I took a week of home time and idled the truck the whole time and never left it. Then again they could careless if you had a home or not. We don't slip seat, if I take a week off my truck will sit there empty.
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