Live in the truck save $ and become financially independent???

That's what im thinking, i know way to many regional jobs that pay 50K+ a year while being home either on weekends or during the week. Dont most of the irregular OTR guys spend weekends in truck stops? I just could never understand this and why guys was ok with it. But we're all different and what ever works for them

 

Can't speak for other folks, but when I was solo OTR I rarely spent a weekend anywhere but working. Usually went 2-6 weeks at a time without having to take a break or do a 34 hour reset. Normally I'm out 4-6 weeks before taking home time.

For me, getting out on the road is relaxing. Wife's good and the kids are grown. I'm out making money and seeing this great country.

Regarding pay scale I'm just starting out again, so yes my pay for the first year back was about $40K gross. Now's the time to play work up with that year's experience.

The premise of this thread was all about the concept of LIVING in a truck, without paying rent or mortgage, to save money. As noted by the OP you can save the MAJORITY of what you make living this way, even if you are on the low end of the income scale for OTR.

While the OP is looking to diversify income by investing in income rental properties, I'll be looking to save enough to purchase my own truck with cash and have enough in reserve for maintenance and operating accounts. After accelerating my income in this manner THEN I'll be looking for property.

 

I like to hear about those living out of the truck. That is my plan as well. I'm planning on bringing a motorcycle along. Without it, I think I'll feel a little stranded.

 

People who say this have no financial experience which is why they struggle to pay bills. Real Estate always goes up in value. Its the only thing that hedges against inflation. If you keep $250,000 in a bank account for many years, that would be worth a lot less when you are ready to buy a new home. If you got a mortgage on a $250,000 now, many years from now that house may be worth $300,000. So you just earned $50,000 in equity while living in a nice home instead of a truck. One of my best friends who is a multi millionaire buys a new mansion to live in every three years. She just takes all of the equity out of the current house and puts it into her new house when she wants to upgrade.

 

NewNashGuy I understand your point, but real estate is anything but safe. Millions of folks across this country who thought this way now have no home, and their nest egg is gone.

Over 25+ year period, history tells us that homes generally go up in value. However, if your time frame is shorter than this, there are no guarantees.

Also, there are a lot of home expenses that people forget to add into their justification of home ownership. These expenses, if taken into account, would make renting a much better option for many.

 

One would normally tend to agree with this but I really feel we are in different times now. While some real estate purchases may be a wise investment such as raw land or bankruptcy/tax auction pieces others may not. I have recently read more than one article supporting the fact that we(banks) are quickly setting ourselves up for another bubble burst like the one in 07. I think the OPs idea of saving a good chunk of money to put down on a place is a good idea right now. I dont personally know anyone in my area (others may be different) who bought a house within the last 8-10 years that is really worth more now than it was then unless it was a rehab and they put a boat load of money into it.

 

Living in the truck is not too bad it is that you live in a lousy neighborhood.