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

For someone to say buying a truck is a bad investment due to depreciation is like saying any business is a bad investment.

You can buy a truck and flatbed for under 50k with all the equipment and get your money and living expenses back in 12 months.

 

Is your house paid off ? If not, that's what I would do with my money.


Then go work for a company. If you hate the job...quit & onto the next company. We drivers have plenty of options.

With the money you make from your job... you can buy rental properties. After you have a few... you can quit trucking and focus on that for the rest of your life. You would be your own boss.

Remember your single now. Stay local and hook up with girls. Make that your part time job.

 

If you should plan to invest the cash, you should get an average of 12% per year if invested correctly, but you can make more cash by opening your own business

 

There are different types of risks. One that people seem to ignore and it is very real right now is inflation risk. You $100K buys $100k worth of stuff in todays dollars. But inflation will reduce your buying power. So if you see a modest 3% inflation, you will need to have a return of at least inflation to maintain your purchasing power. These "safe" investments don't come close to providing that kind of return.

I am not going to presume to provide investment advise. All I will say is that if you are looking to invest in the market make sure you are doing it for the long-term. People that lose in the market are the ones that try and time it. Look at the history of the market based on the returns of the average investor compared to what the market did if the money was invested and left in the market only being touched to adjust diversification.

Buy high quality investments for the long-term should be the mantra for all.

In terms of being an O/O, you are the one that needs to make that determination. Capacity is getting tighter and major carriers can't bring new drivers into the business fast enough. So there is really no end in sight for the capacity crunch. This is good for O/O's. But you are going to be the one that can determine if you have the ability to be in the top 10% of drivers that can make a great return or are going to be part of the bad attitude bunch that is never happy and drives quality freight away (because who wants to deal with a cry baby).

 

Absolutely, ROI in the trucking business is insane. But not easy. But few drivers understand business. They are nothing more than a driver that happens to own a truck.

Depreciation is your friend if you are making money.

 

Also, don't take financial advice from poor people

 

So many great replies...But I was stunned to see a reply from BigBadBill...Someone else recommended Farm2Fleet and I spent some time researching it and came upon some of your post...Congrats on the growth you've achieved my friend....you are living the dream I want for myself.

I would simply LOVE to never have a boss again and not sure if being an OO is the way to go yet, but your the type of guy I would want to talk to if I were to go that route. Perhaps we can talk on the phone or even in person....I'm going to great smoky mountains national park this weekend and my GF and I are even talking about heading up to Shenandoah National Park in Virginia as I have family in that area that can quarter us. We'll be sleeping in a tent in Tennessee, but may possibly be able to stop by your neck of the woods.

Let me know my friend, I'd love to pick your brain on this subject.

 

Bingo! This is exactly what I did, the last 5 years I averaged 10% return on my investments, which comes out to a little over 50k per year. It can be done, people on hear have told you it can, and me's thinks the last thing they did was buy a truck. The first thing they did was invest.

 

this is awesomesauce.

 

Yes, that place is wonderful, French side and Dutch side. On the French side, it's something to see the French beauties, sans bathing suits, use the elevator, walk through the lobby and out to the beach. Lots of retired Americans living there also.