The journey begins - purchased a truck.

I'm kinda glad I started the thread now - when I go back and re-read, it helps me see where fear without logical basis, flawed thought pattern and misused focus lay. My memory has diminished and my sense of time has always been warped, ( perhaps a trait of the trucker ), therefore it's a good diary, if nothing else.

The CFO and I have discussed the new year, plans will be a little more cemented after the annual mash-up at the CPA's office.

Historically, she has never counted unhatched eggs - whilst I will personally take the rooster down to the fertility clinic for testing, arrange a candle-lit dinner with the plumpest looking chook, and prepare spreadsheets and diagrams based on a full basket of eggs.

As I think I've laid out before - she takes 12.5% of 1099 gross each week and sets it aside in an account for 'End Of Year Taxes' - untouched through the year. This has around $22k in it now, and by my egg counting, will be sufficient to pay off the truck, ASSUMING that we don't owe any taxes - which I'm pretty sure we won't, as there was 20k dumped on paying off the trailer, and the truck purchase at $46k to begin depreciation on, as well as the payments on the truck and 30k+ in maintenance costs -( high because of the truck change during the year) -and whatever depreciation was left over from the previous year.

So (in my mind at least) 2018 will commence the 4th year of business, business assets will be freehold and we'll finally be in the category of "Ummm, so - errrr, Where do we hide all this cash from the IRS?" - which will follow the previous years of frugality in a nervous, initially petrified state of self employment on one income.

Not unlike the previous 10 years of working like dogs as a company team and eliminating debt.

So - as far as GOALS go, we don't really set them.

I've floated the offer to a good friend to buy a truck and run him with LS - but I have a feeling he's fearful of the change - I don't blame him - but if he calls me on my bluff I'll do it. I understand where he's at in his life and career, the hesitancy. A large percentage of our offer came from sparing him the toll of what we know he goes through - we left him at ODFL, we lasted 7 years and change, he's going on 12+ years, at 60. I now know the business model will work - not smashing out huge $$, but he's a guy I can absolutely trust - if he can believe in himself.

There's a Kiwi bloke coming over to intrepidly break new ground, I'm sure he'll be trying to stretch our comfortability envelopes in different directions - we'll see what fires he lights and molds he breaks first.

There's a copy and paste makeover of the Pete from @Old Man 's book , but it's doing fine now - so, as I see it as a tool - it can wait for another year or so. This could easily chew $40k - but if it's looking OK now and in good health, and I don't attend truck shows - then it'll hold.

The CFO would like some $$ spent at the house. There's been a few projects that have been put off for a while, that I think should be addressed - after 3 years of careful money management and unpaid back office work, she deserves it. We might just have to give up a little more of the "End of Year Tax" account to Uncle Sam next year.

 

Well -I must say, you have to be awfully bored or be stuck in Wyoming to re-read the entire thread!

I like the idea of easing into it. One can say "Fortune favors the bold" - whilst "Fools rush in where angels fear to tread" both counter, yet the latter seems to be the norm in this industry ( read countless "I bought a truck - now what do I do" threads" )
as testimony to that.

I also like 'getting my funds where I want them' - that suited our nervous disposition upon entry.

@Ruthless can probably help quash the fear (which I hear often), of "Where to park the truck". Relationships come into play here, but I believe you can, at some reasonable trade or expense, find somewhere to operate a 1-3 truck business anywhere. Look at Chicago - plenty of operators there for example. You see trucks parked in the oddest of places, with some arrangements made of course.

I spend little time in the NE, I only know that in platform, in my experience, you only go so far as PA, then leave the rest to @Ruthless .

Appreciate you.

 

Yes - hate to say it, but this one went so smoothly, that I'm lining up a repeat. Plus - Johnny is a good travelling companion. Miss our radio back and forth already.

And I'm sure the CFO will be pleased at the check next week. Well, I can only hope.