Are you happy you are an Owner Op?

Discussion in 'Ask An Owner Operator' started by blue1005, Sep 3, 2019.

  1. blue1005

    blue1005 Light Load Member

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    wait, can i get a tax deduction for my lot lizards??
     
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  3. starmac

    starmac Road Train Member

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    Well, you can't turn in no receipts for lot lizards, they will kick them back every time.
    That said if it is billed as erection eradication technician or engineer, it slides right on by. lol
     
  4. blue1005

    blue1005 Light Load Member

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    we pay for politicians harassment claims, why not mine... That said, seems like most like OO and think its a good path to take.
     
  5. starmac

    starmac Road Train Member

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    It is a good way to go for some drivers, not all by far. You have to be self motivated naturally and a pretty independent person.
    You have to have the ability to solve problems and s good head on your shoulders to make it in the long run.
    During the good times anybody can pull it off, what gets a lot of them is everything is good, they have a truck that doesn't need anything spent on it yet, and they are piling the money up. the next thing you know, they are driving a new 4 door diesel pickup, have a new fifthwheel travel trailer a boat under the shed and a harley in the garage, about that time freight slows a little, rates dips a little, and they need a new set of tires, which they can't afford. Now is the time the sky is falling and we are all going to go broke. lol
    You may think I am exagerating, but I have seen that exact scenario multiple times.

    I am somewhat bad about impulse buying myself (if you don't belive me, ask the wife), but I do it on the one payment plan.
     
  6. blue1005

    blue1005 Light Load Member

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    Totally get that. I agree that financial common sense will help in the long run.
     
  7. starmac

    starmac Road Train Member

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    Being an independent OO has treated me well over the years, I am not saying there was never any lean times, but hey, I started with nothing, so what could I lose. lol
    I made a deal with myself to never owe more monthly payments than I could make myself, even when I had other trucks running, and it worked pretty well for the most part.
    As it is now, my stuff is paid for, it is going to stay paid for and I can work or not as I please. lol, Not really, but AI can work a week and coast a month pretty easy. lol
     
  8. FlaSwampRat

    FlaSwampRat Road Train Member

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    Yes sir. Did my time with UPS, made way more than most people on the road and have a pension coming and a strong 401k built up. That is in no way telling you not to go OO, you gotta do what's going to keep you happy...just answering the question.
     
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  9. JonJon78

    JonJon78 Road Train Member

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    Not a single owner operator out here could match what you got from UPS...

    You not only have a pension but a 401k...

    Well done sir!!
     
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  10. jamespmack

    jamespmack Road Train Member

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    I have preached this same thing to guys. Get aways from payments. Loan your self money if you have to and make payment to yourself.
     
  11. stillwurkin

    stillwurkin Road Train Member

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    Lol i get what you are saying. But..in hindsite i knew guys that failed in ownership 20-30 years ago. They had lots of excuses, but work ethics and perseverance mayby lacking.? Attitude and people skills plays a part also.
     
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