FCC--Fremont Contract Carriers

As young as you are if you let that $10k sit it could turn into $600k by the time you’re 67.

 

i’m fully aware of all the implications and drawbacks. There’s a method to my madness

 

One good advantage you will have is you’re going into it with the company you’ve been with for a while so you already know the freight base and the lanes and how dispatch operates that will help immensely

 

It makes no difference to me. But why not take your little bit of money down to the local dealer and put a down payment on a truck. The easiest way to something isn’t always the best way to something. Just food for thought. You don’t have to answer.

 

Incognito for a while today.

 

@cdavis188 hopefully this works out for you, If it doesn’t can you go back to being a company driver there?

I always said if I wanted to try something like that, I’d go to a bank and apply for a small business loan.

Buy your truck, reefer trailer and maybe get authority. If no trailer than take that truck and lease on to a good company (FCC counts for that).

I think you’ll do just fine there though.

 

are they eventually going to do anything with those trailers?

At least slap the company name somewhere. I can see them easily being mistaken for something else

 

I’m assuming the ones I’ve seen will get wrapped for Sioux Honey since they have SH after the trailer number.

 

Be careful and maybe touch base with a Tax Advisor before pulling money out. While it is “your money” you put it in there “for retirement”… and you might face a huge penalty for pulling it out early. Knew a guy years ago, pulled money out for a down payment on a pickup but then at tax time got dinged with tax on the withdrawal AND a 10% penalty.

He then had to pull more money out to pay the taxes…

the next year, yup, rinse; repeat.

 

Yup… good little nest egg there if he leaves it alone and invests.