SOMEONE said it couldn't be done...

Keep doing what your doing people on here are just jealous cause you took a different path and are making it work

 

Any number of issues, or conditions, could come up which would make it possible to work but you would need health insurance. You wouldn't have to be indigent. This is actually part of the reason I got into trucking. I was driving a taxi, no health insurance, when I had a major health event. I guess I could've gone on the public dole and relied on the government to take care of me. But I got a job with good health insurance and have been able to manage the condition ever since. But it would have cost over $55,000 in the first year dealing with it if I didn't get good insurance. I've been to work in Iraq as a contractor since then and have done pretty well. But I will always get the best insurance possible from now on when getting a job. In fact, that is one of the biggest considerations when looking for a job, for me.

I see you're 43, so not so young. But your positive attitude will go a long way in keeping you healthy. But good insurance is still worth something, if you had a major event. You would not have to rely on the government.

 

Our forklift drivers make over $50 grand.

 

I do my business plan for 52 weeks, but expect 48 weeks of truck operation. Probably a little on the conservative side, but I have seen a week or two downtime for major repairs, and another week or two of personal time off (can be vacation, illness, whatever). Sometimes you can schedule both at once. Sometimes the truck just breaks and you're now on "vacation." As the owner that holds a CDL, I have the option of running the truck if a driver takes time off. I will usually schedule repairs during that time as my time is usually more valuable running the business instead of being out on the road driving.

You'll also find the slow periods eventually. You coincidentally started right at the beginning of a busy time. Good for you - you will have the benefit of running hard in the early months and that will give you a chance to hone your scheduling skills in time for more unpredictable loads. With my 20/20 hindsight, I learned that I had done the same thing.

You're working for a similar operation as mine. Barring any exceptional changes, you can expect to make $40k as the paid driver in this scenario. You seem to have some hustle about you, so that's probably a little low for you. You're ability to solve problems instead of wait for someone else to figure things out for you will be critical in the type of operation you work for.

In other words, I think your expectations are a little inflated due to not knowing what you don't know, but not far off the mark.

 

NO!!!

I am an Insurance Broker. While I don't place a lot of health insurance anymore (industry gone to hell, thanks Pelosi), I still do place a few here and there.

It's your choice whether or not to have health insurance. I will not judge either way. But remember that medical bills are the biggest reason for bankruptcy in the United States. If you have an accident, or a health issue that will run into the $50k range for treatment and rehab, you are going to have a serious problem.

The COST of the CARE is the problem, NOT the cost of the Insurance. The Insurance companies have to charge the policyholders an amount that allows them to PAY the high cost of the CARE ITSELF. They cannot print money, nor can they pay out money for your care if you are not paying premiums. Health Insurance Carriers pay out $35 MILLION each and every day in claims, and operate on an average 6-8% profit margin. Yeah, they are making money, but why shouldn't they? Nobody seems to be crying about the banks profiting in the 80-130% range, why?

You want to cut the cost of health care? Do something nobody is willing to touch: TORT REFORM. There is no reason a private practice Doctor should be paying upwards of $10k/month for malpractice insurance. There is no reason for hospitals to be paying 10x that amount or more every month to protect from being sued. There is no reason your Doctor should have to run every test on earth to diagnose your problem just so he won't get sued by you later for NOT running those tests. That stuff is not free, nor are lawyers.

Like I said, buy Individual Coverage or not, that's your decision. But if something happens to you before you get $50k put away (or more, in case of a hip replacement, knee replacement, heart attack, etc...), you are going to be the one on the hook for it.

Personally, I think you'll do well in this industry because you appear to me to be the type of person who FINDS a way to reach your goals. Most people don't even bother setting goals. Keep pushing towards yours, you just might hit more than $55k your first year. I've seen it done.


[/soapbox]

 

The OP has bigger problems than getting to 50k for the year. Both he and his employer will have big problems if the State or Fed Revenue departments get wind of the 1099.......... I have worked in finance/taxes/banking for 20 years before being downsized and he doesn't qualify for a 1099 under any definition I have ever seen. Oh, and the OP better be filing a schedule C for that 1099 income and don't forget to pay all of you SS and Medicare taxes in addition to your quarterly filings.. You do know the amount you see deducted on a normal paystub is only half of what is owed? The employer pays the other half. You are setting yourself up for a screwing of epic proportions. I have seen people whose financial lives were ruined because of this 1099 crap and even a couple who did time.

Keep fooling yourself if you like, but this chicken will come home to roost. If your employer can't afford to do it the right way, he certainly can't afford to own trucks and it will come out in the wash eventually.

 

Oh, and forget about ever borrowing money. A 1099 is worthless for income documentation. you would be considered self employed (even though you really aren't--thus the 1099 being bogus). You will need full tax returns that can stand up to analysis.

 

Really?


I just cancelled my company sponsored health insurance since you brought it up.

$9000 deductible.

$4300 premium.

$5000 Preexisting conditions aren't covered for the next year.

That's $18,000 out of a $48,000 annual salary. Plus taxes of 28% and child support taking another 12%.

That right there is that's almost 75% of my income GONE before I even SEE my paycheck.

And you wonder why people cancel their insurance.

I can get insurance on my own that will have a $1500 deductible and cost $7200 annually with no pre-existing conditions.