Is my goal doable?

Here's 240 calories a day. They mail it to me every month.

 

Truckers are society's best savers, so it's totally doable. This year I'll be able to put away about 40k with 27 of it being my 401k contribution.

And it's been a less than stellar year.

 

Why not?

Take an average job with an average take-home (post-deduction) check of $1,000/week. If he lived in the truck and took one 34 in a hotel a month, used the fridge on board for all his meals, and remained disciplined, that hotel could be a nice one at $200... 1,000 * 52 = $52,000 - $2400 (hotels) = $49,800 - $10,400 ($200/wk food) = $39,400... Take another $4400 for whatever he decides to blow it on in that year. Now he has an average (not super-high-paying) trucking job that allows him to stack $35k in the bank for 7 years. $35,000 * 7 = $245,000 + whatever interest he could get from putting a maximum amount into CDs. That's not even thinking about investments, just basic savings.

I could buy a really nice house with $245k cash.

 

I don't know how long the recovery from the surgery will take, but getting a CDL should only take 3 weeks. I'd get the surgery the first of Jan and then schedule CDL school as soon as you have found the trucking company you want to work for. NEVER WORK FOR CR ENGLAND.

Ypur goal depends on your income, expenses, and ability to run miles. Some people have a thousand "essential bills" and some people have only a cellphone bill. That is up to you. Don't assume just working for any random company will get you to your goal. There is no a erage company. You will get the pay & conditions of ONE company. The one you choose. It seems like a reasonable goal but many newbies have barely worked full-time for 12bmonths, not to mention what is almost 2 full-time jobs if you log 70 hours per week. The key for me was stopping spending and paying off debts ASAP. Many people hold onnto febt because they have never lived any other way. Every dollar in monthly spending you cut is like a dollar more on your income.

 

What are you using to cook in the truck and how are you cooking it? What I mean by "how are you cooking it" is are you placing the meats directly on whatever grill type device you have in the truck (so like what you would normally do at home) or are you doing something like wrapping the meats in tinfoil maybe or something like that?

 

Paying cash for a house obviously would be nice. But I wouldn't get to hung up on paying cash. If you can find a place you like at a good interest rate and just keep making big payments.

 

Don't forget, he can get a high yield savings account from Capital One at an APY of 3.00% with a deposit of $15,000 to start. There's no minimum deposit to start, $15,000 was just an example. Would be a good start. Also, Lending Club has one for around 4.0%, but I'm not sure on the terms or if they're good or not. Also, he could get an investment account with Charles Schwab. I hear it's a hot ticket item in the investment world right now. There's also high yield checking accounts, but those require high balances, so I don't think they would be a good fit for him.

 

Depends upon where you plan on buying a house..Double wide in the Louisiana Bayou or Beverly Hills.

Mighty expensive living on the road lately.

 

Didn’t read all the posts but you can save like a madman with some discipline but with that said you also need to splurge once in awhile

Have that steak dinner
Every 6 weeks or so you need to get out of that truck either home or a resort if not this trucking thing will become your worst nightmare

 

Yup. That's why in my example I stated getting a nice, $200 hotel room once per month. Gotta get out of the truck and hit the jacuzzi tub every now and then.