My plan

After many many hours of research, this is what I have planned to do. First, I will attend Swift's training; however, I will not sign the contract with them for 13 months. After gaining 6 months of OTR experience as a first-seat driver, I am moving on to Crete Carrier, where I will instantly receive a 12cpm increase in pay. I cannot fail any written portion of the test, as I know the book frontwards and backwards, but I know the real training comes with time behind the wheel.

Now, for approximately 3 years working with Crete, I will live way below my means and pay of the 50k of student loans I have accumulated over 5 years for my MBA.

After that, I plan on purchasing about 1 acre close to the Marietta, GA terminal, or the new terminal in Knoxville, and pull a 5th wheel on to the property for somewhere to claim home time. I am still undecided as to if I would like to purchase a log cabin to be built there--something small of course.

Now, after all debts are paid off (if I cannot pay cash for my home and land, I will stack up some cash, in order to purchase a tractor (approximately 8-10 years)and lease with Crete, unless I can find better offers. So far, however Crete is at the top of my list.

I am investing heavily in gold and will contribute to the Roth IRA for retirement, so the lack of most benefits does not concern me. Being a business major with a concentration in finance, I have researched and I personally feel that the economy will have turned around by the time I do purchase the tractor. Again, I plan on having, at least, 50% down to purchase this tractor, if not the entire thing. I also do freelance internet programming, which brings in a few extra dollars to make this happen.

I do, however, have a question, if I have the cash to purchase a new tractor, without financing, should I do that instead of worrying about breaking down in a used one?

A little background:
No wife
No kids
No dog
No desire for hometime
No bills atm
Willing to move where the freight is.
I do have friends that would like to take a few road trips with me; however, this will not change my style of driving. Which, of course, is run hard, bust my ###, and relax on my home time only. I am here to make money and money I will make.

Suggestions and comments are welcome.

Thank you,

Roy Lee Bennitt

 

I have always and will always purchase gold as part of a supplement in my retirement. The economy will turn around, it is just a matter of time. I was using it to emphasize that I have a backup plan and will be able to retire with money to last throughout the retirement. Which, I know many O/O do not have (a retirement plan). What do you think of the plan overall though? I am not rushing things, and I feel that it is a decent plan, I would just like other people's opinion on it, as they may see problems that I do not. In addition, they may be able to offer advice for things I have not thought of. 70% or so of my IRA money goes into an equity fund, which mimics the S&P. However, this talk is for another time. 70% equity, 20% gold, 10% money market is my current portfolio. Again though, I wanted the suggestions as to my plan. There is something I am missing I am sure, and I hope to have someone point out what it is. Thanks for the advice though; however, gold is never a bad investment, but with the fluctuation, I may lose a bit here, buy more at a lower price and watch it grow again. Anyways, enough of the financial talk. Please feel free to point out any mistakes, bad moves, or offer suggestions to this ultimate plan. Thanks again.

 

Good point, I have thought of looking around for a used tractor with low miles, that includes a warranty. That is, of course, going to remain an option now. I just need to keep the wheels turning when this part of the plan happens, and I was thinking new would be the best option. But now that you mention it, I could search for a low mileage, used tractor that is still under warranty. Hmmmm. I will research prices and such and see what is available and what type of cost I am looking at. Of course, this is years away, but I write my plan out and read it every morning to give me the motivation needed to work extra hard to accomplish my goals. I can fix many many things on my own as I have been working for a local racing team for a few years now. I just need something that will keep me making money with the wheels turning. Thanks again, this was a great suggestion.

 

I had planned on purchasing a kit and building it myself. Those are fairly cheap. I just want a very small one, with a living area, small kitchen and a small bedroom with a stand-up shower. I will not be there much, but when I want to take a vacation, I would like to have a very nice place to stay with trout fishing nearby. I see the dollar being inflated as well. But, my plan, paying in cash, should get my some sort of discounts. I have not researched them (cabins) as much as I should, but I will be soon. My first and foremost goal, after obtaining employment, is getting the loans paid off, so I will have no payments. I currently own everything I have, and the loans are the only bills I have. Thus, once they are all gone, I have nothing to do but save the money for the cash needed to pursue my plan. Driving is what I love, unfortunately, it took 11 years of Law Enforcement before I realized my true calling.