I inherited over 100 grand...what would you do

A truck is the worst investment you could make. The depreciation, maintenance, fuel, insurance costs,etc.

The profit margins are too slim.

Try to save as much of it as you can. If you can afford to tie some of it up in a long term annuity, do so.

Buy a house with it to live in, or pay the one off if you are already buying one.

 

If you gona stick with truckin the things you need to know before you start is. Keep your equipment paid for no loans no obligations.you haul it when you want it NOT because you have to pay the truck,trailer,payment & all that crap that most of us use for an excuse to haul junk all across country to make the big cats bigger. If you find your self leaning towards buying a large car and a shiny hiny and you are interested in looking good more than making a good living then most likely you are headed down hill.don't do it. The freight goes up & down and if you owe people money because you want to look pretty going down the road.Then you will find your self trapped and you will take those onion loads and you will take those 48000 pound freight and you will tare the hell out of your equipment and find your self running in circles trying to make ends meet. Good luck to ya

 

Let's see, 100k sitting in some kind of safe investment fund, or take that 100k and buy a depreciating hunk of metal that after 4 years is worth maybe a third of what you paid for it. No brainer here. Believe me, I'm talking from experience, I have about 5 times that sitting in investments after selling a business 5 years ago, I will carry on as a company driver that drives around the country with the biggest smile on his face every day, knowing that in just 29 very short months when I turn 60, I will be parking this hunk of metal and start enjoying my retirement.

 

Great Advice!

 

if you insist on buying a truck. pay cash for a good CHEAP basic truck. get a cheap basic flatbed, and lease the truck to a company like mercer or landstar. You don't really have a boss at either. the closest to either of them being considered a boss is you get the occasional random drug test

 

donate it to charity.....

make payable to : Giggles The Original
PO Box..........

 

save???? you guys must be kidding. from the guys original post , he doesn't have the self motivation to save, wont work unless hes broke, etc etc.

best thing to do is blow the rest of the money, then you will be able to work.

funny how when someone gets 160k they quit there job and take a few weeks off,

by the way how much of the 160 is left now??

 

. how the girlfriend is gonna treat you once the 160 k is gone and you have no job???

 

Hi Luke. Did You say that trucking is all you know how to do? Take a few months off on South Padre Island, and let your mind drift like a Jimmy Buffet Parrothead. Visit a community college web-site and find something else that appeals to you besides trucking. Take the training and get a new career. Do it for five years. If you still want to go the o/o route, do it then. Do it today, it will be with a sense of necessity. To do it in the future, it will be with a sense of contentment. Peace Be With You.