Should I pay off my Truck

If you enjoy your job I'd keep doing it.. take 100k and see a good investment banker or something of the sort and forget about it. If you wanna own a truck find something to haul first and buy something used

 

Just buy cryptocurrency with 10-20% and you have good chance to be set for life in 5-7 years , invest only in solid projects and platforms .
Just do your research on BNB as an example , it is native token for binance.com exchange , january 2020 it was under $10 , around $600 as i type ... Almost 700 couple days ago .
I would also buy land with tiny downpayment and todays finance rate
Equipment ?! ...nope , unless you are in love with your work

 

THETA token was 5c year ago ...almost $10 now ...
And all this is legal , not some kind of scam

 

There are no great answers right now on what to do investment wise with $180k. Unless you REALLY know what you are doing and have a rock solid business plan with business experience, I wouldn't become an O/O and buy your own equipment. First you don't have enough to buy a new truck and trailer, and second, you'll need at least $40k more to cover additional expenses for the first couple years.

Investing in stock, precious metals or crypto currency? Forget about it. That's not a game for people who don't know what they're doing. My dad is a wizard in that stuff, and I have him pick my stock investments and I do well with it. But it's my dad, and I trust his judgement. Some Joe Blow who makes money regardless if I win or lose isn't somebody I'm willing to gamble my money on.

There are no good interest earning investments worth a darn right now. So putting it into a CD or savings account will actually lose money with inflation.

With all of the government spending, we are entering a dangerous time for investing. Most people are all ready noticing that inflation is kicking in, and the price of everything has been going up. So what you can buy for $180k this year will cost you $200k or more next year. You really can't go wrong paying cash for real estate. Right now prices are through the roof, but eventually it will crash just like it did in 2008. People who borrowed a lot just to get into the market will default on their low interest loans and walk away from them. Then there will be a glut of available housing and prices will fall like a rock. If you pay cash for the property, even if you pay top dollar in the current market, it will eventually be the best possible investment you can make and will go up in value. Depending on where you live, I would try to buy a place with a granny unit so you can make a little rental income to help offset the other costs like property taxes and insurance.

 

The real estate, depending on location, might be overinflated already. Finding the right piece may not be that easy now.
I, recently, sold my condo which I rented for 5 years. From my experience, I can say that renting it to someone is not always a piece of cake. Especially, when you are on the road working. You can hire a management company but those can be a headache just as much as the renters. Also, association fees, assessments, property taxes. Lately, we've had no eviction memorandum to take into account to.
If you buy a condo, the board might also pass a resolution for a vote which would do away with renting.
Real estate is a solid way of investment but it is not a quick and high dividend and it does take patience, some effort an attending to.

Stock market and those krypto currencies...it takes a person with an inside knowledge and much more capital to be able to afford to waste with. An average dude might as well gamble the money in a boat casino. Might work, but it might not...

I agree that if you know that trucking is your destiny and the only thing you you're good at, I'd go for it and buy tools. Hopefully, your business plan will go beyond load boards and spot market. I mean, 180k is a prefect amount to enter buisness. You down pay for a truck, even brand new and a trailer and still keep 80-100k in reserves.
Well...$180 000 is not really a helluva money to let imagination go wild, either. But it is more than enough to buy you a ticket to an o/o club.

 

If I knew at your age what I know now and I was in your position, I'd keep the current job and use that money to fund some type of business(es) that would produce income without me providing the labor. There's a lot of businesses that produce a much higher profit margin than trucking. Now if you're dead set on trucking, I'd use half the money to get into business and split the other half between saving and operating capitol.

There's my opinion...

 

It seems likely the Biden administration will touch off a round of inflation. Inflation favors debtors because they borrow money that has a certain purchasing power, but pay the loan back using money with less purchasing power.

 

Both outstanding replies IMO.

At this point I’d keep the company job and save as much as you can. For the 180k I’d put it in a separate savings and make yourself not touch it for 2 years. If, you can do this then there might just be the right opportunity come along after that. So, step 1 don’t get in a hurry to do anything!

Like someone else said... easy come easy go. It takes discipline to have that much money, and since you didn’t develop that discipline along the way to acquiring it, then you must now do what I recommend above. IMO

 

Let's just hope we're not about to have Weimar Republic here...