When is the right time to step out on your own?

I don't believe in debt. Save up and pay for it.

 

i prefer that everyone else take on as much debt as possible, it gives me a better chance of succeeding. lol​

 

That's one way to look at it.

 

Im happy where im leased and would rather let them take care of the headaches and give up some revenue .
They have my back in a jam and my truck will carry they're name after its paid off in a year and a half .
I've no desire to start a trucking company .

 

Most successful business were started & ran off of other people's money. That's the way all my financial mentors did it & that's the way I'm doing it. You have to be smart about it though. Financing your equipment because you have no cash is not a good way to go about it. If I had $50k in the bank & the truck I wanted was $50k, I wouldn't pay cash for the truck. Truck payments are not bad things unless they are too high (not enough money down) or your rates aren't good. I would put 20% down on the truck & finance the rest. That leaves me plenty of cash in reserves. That's the way I was taught to start a business. Good luck to you.

 

In this country you can never be sure of a economy staying running strong, make sure you have reserves built up and assets protected. Many good things can vanish over night, sometimes under no control of yours, like having your identity stolen, which can take years to climb out of that hole, meanwhile those who did it are living the good life you worked for. Cash

 

You are not ready to own a truck and carry your own authority. If you must buy a truck, find an older one, non EPA preferably with a fresh and documented in frame and lease it on to a small carrier until you figure this racket out.