Dilemma & Life Choices

Do more research on O/O. Those numbers don't sound very accurate. What would the payout on the pension be? And, if I may ask, what sort of job do you do for uncle Sammy??
It's still very plausible to retire at the same time you otherwise would, by driving truck and budgeting properly.

 

At least 3 trucks in order to have a decent retirement

What does this mean? There are no pensions in trucking. You may make more but you may not. You will likely spend time on the road that can sometimes be very frustrating. Everything is not always about the dollar. A rule of thumb for the average owner operator is 1/3 fuel, 1/3 for the truck in repair,payment,etc. And 1/3 for the owner. You would need to gross more than 150 to draw 90-100. There are some people who are able to pull off a 100k draw on maybe 175-200 gross, but they have been at it long enough and have set themselves up for that. There is no easy way to 100k in trucking.

 

Probably sounds dumb but... follow your heart. If they both payed 600 a week which would you prefer to do?

 

A paycheck that doesn't keep track with inflation or allow you control of the money. One swift pen stroke of the government you pension is gone or you're fired, downsized, let go, whatever term they'll come up with.

As for retirement, it's called IRA and Roth. You put at least 10-15% of your money away for retirement in one of those and have it invested and that way you're in control of your retirement and not dependent on someone else!

I know you can buy a nice Tonka truck for that price, but I don't think that's really enough money to buy a real semi truck. You'll want $40,000-50,000 for a decent used truck.

There are no guarantees in this industry. With that kind of money it sounds like you're a 1099 contractor which means you'll need to pay taxes still on that money.

That sounds like you've only been there either 5 years or 1, can't remember what government vesting period is, either 20 years total or 15.

 

Compared to the Feds, any health insurance you get is going to suck really, REALLY bad. And you'll be paying more for it. Just something to consider while you're crunching the numbers.

 

Or ..think about this ...

Give it a few more years and keep saving... I am looking at 35 to exit trucking. I'll sell you my company, equipment, authority, all of it, give you all my contacts and how I operate and teach you everything you need to do what I do and make it as turn key as possible.... it will cost you more and I'll give you 1 year of answering any questions to help make the transition easier. That would be in late 2022. Call it early 2023. Ponder that..