Does it make sense to become an O/O?

hmm does it make sense? Like is said with gold, it's where you find it.. sounds more like you're thinking about a lease / option - if you're content with the present, why change it? As you mentioned, it's another world with a new set of priorities

 

I'm wondering if this post title is a spell checker glitch, or if using a Ouija is now an acceptable business plan method!

But seriously, you have the calculator and already know the answer. Throw in matching taxes, insurance costs, the fact that as an employee now you have workman's comp, and it is pretty easy to see that the only way to prove on paper making a decent wage as an O/O is either higher dollar freight, or lower dollar costs and living.

 

I have friend that is an 0/0 where I drive as a company driver. The company pays 0/0 90% of the load. I've run the numbers inside and out. It makes absolutely no sense for me to do it. I figured at best, with no major mechanical issues, etc, I would net $65,000 a year before personal income taxes, including having to pay both sides of the S.S. tax.

That includes no family health insurance, no paid vacation, no holiday pay, no sick leave pay, etc., which are additional benefits I receive as a company driver on top of a nice yearly income. I have no responsibility for the maintenance and upkeep of my company truck either, which is a huge benefit in and of itself. The freight rates are so suppressed right now, along with high fuel prices, it's not a feasible risk proposition for me.

 

Be coming an owner operater in these times only makes sense if your tringing to live a dream out. Yes you do get more freedom but you also work more for free. I'm not saying you can't make money as an O/O, but very little more than a good company driver without benifits.
Not to mention how much more costly to switch companies if you do get tires of where your at.

 

How much are you making as a company driver, if you don't mind me asking? It's a while before I become old enough to and OTR driver, but I'm just trying to gauge what I could make a few years out.

I'm thinking being a company driver for a decent paying company and investing money in more passive investments would be a better way to go for me personally, but I'll have an extremely low cost of living if I become a driver which will enable me to save a lot.

 

Anybody making 75k should count their blessings and not rock the boat.

 

Maintain that attitude whatever you decide to do in life. It's far better telling your money what to do than wondering where it went. I currently dump 20% of my income into a balanced 401k. I wish I had been more of an aggressive saver as a young man but it's never to late.

 

About 60k. In addition, I'm home every weekend, usually Friday evening through Sunday afternoon. I think I'd have to work a lot harder than I do now if I were an O/O. But hey, this is only my take for me personally based on the research I've done.

 

$6000 per month at .40 = 15,000 miles divided by 4.3 = 3,488 per week.

Really? All year long?