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

15-20k was the going rate for 1st year a decade ago.

You will need your cdl or you’re going to have to run a 3/4ton truck. Remember cdl goes by gcwr…the key letter is “R”. That means rating, just about and trailer worth pulling behind a 1ton or better pick up is going to put you well over 26,001gcwr. Heck any trailer worth pulling is going to be rated for over 10,001.

 

Have you considered any other options?

 

1) I can stick to my current job and keep my Blood Pressure at 180 plus all the time and really dislike what I am doing
2) I can go independent (contract), probably make the same money elsewhere or even more whenever I get the job

So I can do (2) but I am 57 and your marketability drops every year as you age. So the way I see it I can get contract 8 months out the year this year but next year it might drop or I will have to take a less paying job teaching juniors what to do who make more than you.
I don't think I am tooled or have enough to start something else.
For me this is the least investment since I can swap my 11 month old vehicle with a work truck worth something and investment in a trailer and other recurring costs (insurance etc.). Long hours driving and staying away from home is not even an issue. Just need to skill up in trailer hauling and securing which I don't have too much experience in

 

2500 what?

UD2500?

a 3/4 ton truck is too light. You need at least a 1 ton SRW at the minimal, keeping it as light as possible.

OK, but with all the work you need to do to do this right, you might as well go to school, get a CDL and work for a company.

Look into expediting.

Securing it is really easy, what isn't is knowing what to do when a problem arises like when you are almost knocked off the road when someone spins out in front of you.

Work for him, it is that simple.

I hate my job (sometimes), and my body is all messed up, but I keep going.

Yes, with an engineering experience, there is a lot of hidden work, depending on what your experience is in.

 

What if you find out that you don’t like trucking?

 

You do not have enough. If a 4% withdrawal will only provide an 'ok life style', you're going to feel the pinch even in bull markets. If the dividend yield isn't enough to replace 80% of your income, you're not ready to retire. I've had countless 'early retirees' come through my truck because the 4% withdrawal wasn't giving them the life they wanted and/or wasn't going to be sustainable.

Outside of the legal necessity of having a CDL, going to CDL school will at least get you in the neighborhood of backing proficiency. It's something that you need to do.

This attitude will kill this endeavor. Hot shot margins are always thin, and in the current climate you're going to end up like this:


You need to go in planning on building a successful business or not go in at all. If you just want to make ends meet, be a company driver for someone that pays health insurance. Any of the megas will pay you $50K plus benefits and a sleeper truck will be much more comfortable than a pickup.

 

thanks guys, I am looking the CDL classes and it looks like the community colleges provide a 10 Week weekend course. Will see if I can register .
Question, should I go to the community college route or should I do it with some private company's (probably even more expensive) . Just need to understand the level of training that community colleges provide vs some private school.
One question, how do you guys handle the sleeping arrangement for a Pickup truck. I am thinking a rear seat delete with something custom but what about AC and heat.
Looking into a 1 ton crew cab

 

Sleeping in a pickup truck every night would suck. I see those guys from time to time in truckstops and they look pretty miserable. The hotshot business is pretty sketchy. You’d be better off being a company driver and let them deal with the headaches of truck ownership.

 

I think the smart move in your situation is to be a company driver for a trucking company for 1-2 years. This gives you income without expense. A truck to live in instead of renting an apartment, cheaper health insurance than you can buy as a sole-proprietor, time to see if you want to stay in trucking.

As for company training or for-profit CDL school, it depends on which makes sense based on which employer you work for. Neither one necessarily produces a better outcome. EVERY CDL school produces a new driver with a CDL and nothing else. You learn the 95% you need to know during your first few weeks at your first employer.

Find the job you want and let that decision decide which CDL school to attend. There is no reason to pay more for one school than another.

 

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