If I won the lottery I’d probably donate some time to different causes that require a cdl .. Aka haul relief supplies, charity work like haul bales etc
Closing up shop, or thinking about it?
Discussion in 'Ask An Owner Operator' started by Midwest Trucker, Aug 28, 2022.
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All debts, liabilities, and enough to live1 year on and buy and build or refinish a 2nd & 3rd house & pole barn on 10 acres each. At age 40 i can probably make a go of real estate or something else as long as that were done.
So 125k + 75k + 500k x2
1.2 million would do the trick.Last edited: Sep 21, 2022
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Money isn't the main motivator. A couple of million in a good money market fund should be enough of a cushion.
I know...on the really aggravating days you'd happily sell the whole thing for a dollar and never have to put up with the performance anxiety again.. Some days you stop and look around and say to yourself "here's every day of the rest of my life" but you put your head down and barge right on through anyway.
To answer your question...I wouldn't hazard a guess without knowing your finances.
Or is it myself I'm talking about?haycarter, blairandgretchen, dwells40 and 10 others Thank this. -
I could retire tomorrow and never need to lift another finger to make money, but the wife would kick me out of the house every morning, anyway, so I might as well be productive……
that’s only a LITTLE tongue-in-cheek. I’m not near old enough to spend my days rearranging my stamp collection.dwells40, Rideandrepair, Siinman and 2 others Thank this. -
Rideandrepair and Midwest Trucker Thank this.
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I guess it's time to fess up. I threw the towel in about a month ago. Between the rates/volume, the fuel creeping back up and rising cost of maintenance I had a hard time seeing the light at the end of the tunnel.
I was never going to be the guy that stays out months at a time just so I can say I'm successful and have my own truck. And my business model required me to do so with these rates to essentially make company driver money. Also I was never going to be the guy harping on brokers on how they're putting me out of business. This was either going to make sense for me or not. I'm absolutely glad I did it though and it taught me a good bit about business and what I'm actually capable of...but I do not miss that stress.
If there is one piece of advice I could give anybody that's thinking about it is, do it ONLY if you're a trucker thru and thru, love it and want to build a fleet and are wiling to sacrifice years of your life to do so. Because this game is rigged against a small O/O companies.
Thankfully I lucked into a local job that I actually turned down few years ago and so far I have no regrets.
Best of luck to all the guys out there still pounding the pavement and load boards.Last edited: Nov 12, 2022
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Siinman, dwells40, DeereRunner97 and 9 others Thank this.
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This is good news!
We all knew guys who could make it when it’s easy money would be out at some point
Hopefully more will follow suit and that alone will change any low rate issues as some will just try to hang on even if it’s at a loss until they realize it’s not for everyone -
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