Retiring Early To become a Trucker... Should I Yes or No???

Hey coach, what did you decide to do?

I read this thread today. I quit/retired from teaching PE(in PA) during covid, got the CDL, drove for TMC and a couple other outfits for 2.5 years and have been an owner op for 2years. I have had my own authority for 10 months now.

I’m curious what you ended up doing, as I am planning to use my authority and truck as a semi retirement gig.

 

Wonder how the original thread starter did. I am in the same boat. Just turned 57, and have had a good job in engineering side and just sick of it. I have enough money saved up (401K, Cash) that I can live ok life style (4% withdrawal).
I can sell my current 1 year old vehicle and buy a reasonable new 2500 truck close to trade in value and then just buy a trailer(my only investment out of pocket plus fee's etc)
I am not looking to get rich of hotshot just want to survive for 5 years till SS kicks in. Single no kids/wife so no issues being on the road for extended period of time. Sleeping in the back of the truck would be like sleeping on my couch which I have done most of my life (trying to figure out AC / Heat stuff though).
Learning to drive a 25 foot trailer and securing load etc is something I would need to learn (dont think it should take too long)
I have my brothers friend that started in this field about 15 years ago and now is established enough that he has 7/8 trucks running for him and making money so I think if you are dedicated enough, you can survive.
As I see, I hate my job, and I still have about 5 more years left in me before my body starts breaking down.
Any tips you guys can share. I know its a complete change of carrier, but its either this or uber because I dont think I can survive in my current carrier as a corporate monkey

 

@Ridgeline - read post #72

 

Hating your job is not enough to make money in trucking. Hotshot has too many operators, lots of ex-cons go into hotshot since they can work without a CDL.
You might as well leave engineering to work for Uber Eats. Anyone with a vehicle and phone is good to go. How many Uber Eats people do you know making good money?

3 decades of "Truck driver shortage" propaganda has found it's way into society and some people believe it. There is no truck driver shortage. If anything, there are too many drivers and too much equipment left idle.

 

Agreed, Just want to test the water and be my own boss for once and see how it is. I am planning to go talk to him over the weekend to see what he says, maybe drive for him for a few months and also get an MC and let it mature (90 days... heard load boards want 90 days MC) while I learn with him.

 

thanks tscottme. The only initial investment I will be making is that of getting a trailer. Truck should be almost a direct swap of what I currently drive. I am not thinking of going into this business to make money. I just want to make enough to make ends meet i.e. Living expenses plus that deadly health insurance costs.
If I did not have to worry about health insurance, I probably would have just called it quits. But with those costs to cover I just want to work for another 5 years until SS kicks in, which will cover health care for 3 more years till Medicare kicks in and I am home free
then I can just start using my saving to live off off.
So basically no get rich scheme, just enough to survive for next 5 years and pay the bills is the plan before the body breaks down even more that I cannot do it

 

Unless you plan to lease up, you’re looking probably $30-40k for your insurance the first year

 

Thanks GreenPete359. This is valuable information . I was thinking it as a new driver with 1M insurance, it would would be around 15-20K if registered in texas. And after the first year insurance going down a bit

 

Another question for you guys, is it better to just get the CDL even though you don't intend to ever drive a semi. I don't want to be limited to 26000 or below.
Looks like CDL can be had in 4-6 weeks. maybe 12, if I keep my existing job and do nights/weekend classes