Schneider Chat Room version 2.0

Well, quite honestly, in the long run I am going backwards in my current position. Let me see if I can explain it. Some L/O have been open and shared their settlement numbers with us on this thread and other threads here so I will share my numbers too. I have been in LE in this state for the past 10 years and enrolled in this states retirement program for the past 11. I currently have a balance in my retirement account of 18k. With the states projections of my current position, after contributing to the retirement system for 30 years I will leave with a monthly retirement of approximately $1,400.00 a month. This amount is pr-tax. Then, as a retired employee I am no longer insured, thus I will have to seek out my own insurance, at age 60. This means I will still be paying my SS tax and Medicaid tax on top of my stated and federal tax for that $1,400.00. The current tax rate is roughly 15% total deduction thus leaving me with a monthly tax liability of $210.00 assuming that the tax rate does not increase between now and then. That leaves me with a net pay of $1,190.00 a month. Now, it would merely be a guess as to what a 60 year old could obtain helath insurance for 19 years from now but lets just say I hit the jackpot and was able to obtain a policy for $400.00 a month (while laughing) that would leave me with a net of $790.00. At this point I would be in the red, considering I would still have 11 years left on my mortgage. Not to mention at least one of my three children (assuming we didn't have anymore) would still be in college. Add in household expenses and such it would be a disaster. This is merely the financial aspect. I have thoroughly enjoyed my career choice, have been afforded the opportunity to help a lot of people, but at the end of the day it is one with a dead end. Tons of self rewarding attributes but nothing that I can honestly control the financial rewards that would enable me to be secure in retirement and provide for my family.

 

Thanks mickeyrat68, I would only have to insure myself, the kids are on the wife's insurance plan. Definitely would be interested in learning more about the Roth 401k, possibly rolling my current retirement over. Do you happen to know how long I would be required to run on a dedicated route before being eligible for the Choice program?

 

Well, I just completed my phone interview with Mark. He told me that I would be elligible for OTR, 2 to 3 weeks out with 2 to 5 days home. He said I should expect 2,800 to 3,000 miles per week. I would be able to take the truck home during my off time and since I would be OTR I would receive either a 2013 or 2014 Freightliner. The insurance sounded good, the Roth 401k along with the company match 401k (up to 5%) sounded good as well. He said I would be eligible to apply to the Choice lease program out of the Charlotte OC after completing 6 months of OTR.
Sounds like what I was expecting and looking for. I am not sold on the mileage actually being 2,800 to 3,000 each week after reading a lot of yall's post on these threads. From what I can gather I would assume it would be a bit less than that.
Well, seems like a great opportunity. Guess we will see what the family thinks about it and then let Mark know on Monday.

 

2009 century held together with bungee cords, tarc2 inches deep inside, 1500-3000 miles a week. Trucking isn't a hourly or salary job. If your not rolling your not making money

 

Yeah moosc, I was thinking he was most likely inflating the number of miles per week plus the year and condition of the equipment. I was thinking I should figure on an average of about 2,000 miles per week to start and work the number's from there.

 

New driver here. 2012 Cascadia, decent shape, 343433 miles when I picked it up. This is only my 3rd week driving, but mileage has been between 1500 & 2500. Just my 2 cents!

 

That sounds pretty decent. Are you running OTR, dedicated or regional? How about your DBL, are you out of the Charlotte OC by chance? That is where I will be out of. Following some of these threads I gather that your DBL has a great deal to how you are routed and how your mileage will run each week.