New owner operator guidance?

Let’s be realistic, right now you need to wait, the failure rate is 90% for new owners, that’s not a bs number but reality. keep your money in safe stable places and wait until the industry shakes out a bit and reduces capacity, which may happen with the auto strike.

 

If you aren’t passionate about trucks or trucking, this isn’t a business to get deep into. Lots of other opportunities out there with the same or better return if it’s just money you’re after; and less liability to lose everything.

 

@Ruthless @Ridgeline
These guys are not steering you wrong. Less that 15% make it into year 6. You have to have money, be passionate, aggressive on getting customers, and put the business before much else. It’s not much different than any other. Don’t reinvest your earnings, don’t acquire customers, fail to establish a brand folks recognize with positive connotations, you will join the ones that become company drivers once more.

 

I’d put that $100k to work paying off your house etc

The best paying local jobs are fuel tankers
But it’s usually working at night .

I was an owner operator for 8 years , with my rig leased to a company that had their own direct freight that delivered in a 250 mile radius, so I was home every night ,

I loved trucks and was a pretty decent mechanic so I would repair the problems that didn’t need a huge shop and special tools etc
But I sold my truck and got a normal 8-5 mon/Friday job when we wanted to start a family .

If you have a wife and kids , starting as an owner operator is gonna take up all of your time , there won’t be any time or money or energy left over for your family .

 

I completely understand wanting to get further ahead quicker in Life. The fact is you’re way ahead of the game already. Having a family and being able to save what you have is impressive. Keep doing what you’re doing. No risk involved. Nice cushion for unexpected emergencies. Probably the best thing you could do is put the money into retirement accounts for you and your wife. At your age you’ll be financially set when retirement comes around. That will really be important when wanting to help your kids, time for Grand kids. Being able to work or not by choice. You’re already a major Success. Just don’t know it yet.