New driver..
Discussion in 'Ask An Owner Operator' started by djidjimidji, Jul 27, 2021.
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Based on 1 post and gone. Could also be a troll.
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Only one way to find out! Keep us posted on your progress driver!
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owner operator.. I’d be working for a company taking 8% but with my truck and trailer. Not trolling so I’m tjankful for all you guys replying. It’s just something I’m thinking about. I was wondering if i drove for 3 years and only had expenses for the truck including payment, would it be possible to save up $500,000 working those three years of working pretty much every day?
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How you gonna work everyday and log that ??
Bean Jr. Thanks this. -
Nowhere near going to save that in your first 5 years, probably 10 if you're as green as you sound !
You have to buy, maintain, insure and fuel the truck, pay your 8% plus your personal taxes as well as the pesky taxes that come with ownership and you must have some personal expenses, like house car wife etc?
It'll take time to learn enough to be profitable, in no way could your plan be a short term money maker. -
So based on that
He could only average 7 hours a day driving (roughly) at let say 65 mph that’s 455 miles a day
He’d have to net 684.93 a day,
Sorry, I highly doubt he’s going to do this -
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I think you probably could right now if you had the right knowledge and right equipment and with the right contacts. Problem is you don’t have any of those and this kinda freight market won’t last as long as you need it too. So no, unfortunately not. Still, give it a go. Why not?
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The pay does not go proportionately with time spent on the road nor with the miles covered. If you manage to net consistent average between $ 90-100K per year for the next 3 years, then you should be grateful.
Now, let me think about it but just for fun...
Assuming you pull dry van and can get the net of 90 - 100K every year- which is still quite a feat and you live for 3 years in your truck like an ascetic monk and you don't go nuts sooner and depending on how much you need to spend to eat, dress and bath, then maybe you can put aside 200K. That's quite a feat too!
Or from another angle...the rule of thumb is that an owner operator takes home roughly 50-60% of his gross revenue. You would need to generate about 1 million in 3 years, that's 333K every year but you want to put aside half a million so you need even more than that. That ,my friend, is something that only superhumans in comic books can do...
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