Am I making a huge mistake?

[A&A]

Hello,
I have worked for Waste Management for 20 years. My wife and I are standing at the edge of this cliff called team expediting. From what I can squeeze out of people without really knowing who or what to ask, it seems we will be breaking even with the exception of no longer having employer paid health insurance.
What has brought me to the edge you ask? The extreme deterioration of the equipment mainly. We're in our mid forties. I don't think I can take it for another 20 years. I feel like if I'm gonna escape it must be now.
What if anything have you done for insurance? And is it affordable?
We love to travel and I'm no stranger to long hours in the seat. Does anyone have anysuggestions as I train my wife for the first month.

 

[Ragman]

Welcome to our world.....

With that out of the way, .... tell us about your plans, what kind of truck? Is it your truck, or will you be driving for an owner?

 

[A&A]

I will be doing a lease with a fleet owner leased to try hours. 60/40 I pay the fuel.

 

[A&A]

Class B with a lift axle and lift gate with a 96" sleeper.

 

[Ragman]

I will be doing a lease with a fleet owner leased to try hours. 60/40 I pay the fuel.

Lease? You have to pay for using his truck? I'm confused?

 

[A&A]

I'm not surprised at your confusion as I'm sure I'm making a mess of it. Lease is probably incorrect. From what I understand, I will be receiving 60% of what the truck makes. And paying for fuel.

 

[Ragman]

Ah, got ya. ....... A mistake? Only you can say that. As long as you understand the risks involved in giving up a secure job for the rewards of self employment, why not.

 

[A&A]

Trading golden handcuffs for freedom and independence is always scarry, right?

 

[Ragman]

Trading golden handcuffs for freedom and independence is always scarry, right?

Nothing ventured, nothing gained.

 

[A&A]

That's what I think. Thanks for the boost.

 

[Ragman]

That's what I think.

Just be sure you really understand the risks.

 

[RoadTime]

Husband/Wife Straight truck team? Normally you will be in high demand with fleet owners, and probably the best situation for the two of you and the owner. So not a huge mistake at all. Being a hot commodity, don't jump on with the first fleet owner you find, research all your options, trucks, companies,etc. The two of you are literally in the drivers seat, use that to your advantage to find the best situation

As far as health insurance, price some out on Get 2016 health coverage. Health Insurance Marketplace although your deductions driving will be far less than that as an owner operator to lower you income, you still should get enough to lower the cost some. Maybe qualify for some subsidy. Play around will the numbers and see if it's manageable for the coverage you need.

 

[A&A]

Well let's see. It's hard to know for sure but I think the risks are:
Getting very sick or injured.
Having no one to blame for failure but myself. (I could try to blame my wife but let's be real.)
If the truck breaks I'm broke.
Taxes and 1099's
What am I missing? I'm sure there's plenty.

 

[Ragman]

...... (I could try to blame my wife but let's be real.).......

Lol.......

 

[A&A]

Thanks Road Time. We've decided on an owner and company based on our research. Hopefully we did a good enough job. We're basically debt free too so we're not in jeopardy of losing everything if we're wrong. Thanks for the insurance info too.

 

[LDB]

At the risk of raining on the parade, Expediting is a career, just like mechanic, paralegal, hvac, dental technician and so many others. It should be taken just as seriously and with equal education and training. Expediting has a HUGE turnover rate because people don't get a proper education before starting. You should read back a MINIMUM of 3 years in the General, Newbies and Recruiter forums. Every single thread title. And any one of them that seems remotely educational you should read every single word of the thread. Take notes. Compile a list of questions from what you read. Compile answers to some of them as you go along. Talk to others doing the job successfully. When you've put in a few hundred hours of education and study then you'll know enough to decide if it's the right thing for you and your wife or not.

 

[A&A]

Thanks, I appreciate the rain. It'll help me grow.

 

[RoadTime]

You had me at husband and wife, straight truck, with little debt
If the two of you can handle small confines, and being away from home, go for it.
I rarely, if ever, give the green light to proceed in this crazy business. But as I said prior, you are in the best possible situation to succeed. Honestly, I'm not totally crazy with your choice for carrier. But that's personal preference. We all start somewhere, after your wife is trained, and you have some experience under your belts, the possibilities are endless

P.S- You are are already doing a smart thing by driving for a fleet owner first.

Best Wishes

P.S.S- I can't believe I'm being so positive

 

[Steady Eddie]

I started out as an owner operator in a Sprinter. I had $3,500 to start with, more if I needed it. The plan: learn the ropes, the move up to a Straight truck and team with the wife. That was the plan. She had a good job, and still to this day. That's something you need to keep in mind. 60% into 2 may not be enough money for two of you. Then you will have your cost to consider. Remember, 60% going into one house hold. Will it be enough? Husband and wife teams have done very well on the 60/40 split, and some have failed. Seems the ones that make it dumps the fleet owner and get their on truck. 100% is better. Get a new truck with less maintenance at first. Have a maintenance fund as soon as you can.

Or stay in the job you have, knowing what your income is payday after payday is a great piece of mind. Don't let a few bad times make you make a emotional decision to get into expediting.

I remember sitting in a truck stop wondering "what have I done?" I haven't got the first load yet.

But, that was over 11 years ago.

Weighing in what you are giving up and what the unknown is facing you. That's hard to face. Jump off the cliff and hope solid ground is hidden or enjoy the ride to the bottom of the valley.

Emotional decisions can kill all good plans. Think long and hard on it.

Or do what most of us did..... GO. FOR. IT!!!!


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[Kazper]

Being a solid husband/wife team is definitely a HUGE advantage that puts you in extremely high demand within the industry.
Training an inexperienced driver in a straight truck is far less of a nerve wracking experience than grinding through gear after gear.
I fully agree with the 'get your feet wet slowly' mentality of starting your expediting adventure in a truck not owned by yourselves.
Far less initial anxiety by absolving yourselves of the onslaught of owner liabilities that are probably still a foreign language.
Being in a financial position to not be overly concerned with that first slow month of figuring it all out is a huge asset.
Expediting is certainly not a vacation, but you will definitely see the country and have days off in amazing places. Straight trucks can tuck safely into spaces tractors have no business being.
It's often not very glamorous to have to miss out on a shower in order to stay on schedule because some random river decided to overflow it's banks and hang out on the highway.
But, at the end of every run, I enjoy the pay. I enjoy the comfort. I enjoy the scenery. And, I enjoy the beep of the Qualcomm announcing my next adventure.
Having both incomes from driving going to the same place is a very enviable position for many out on the road.
If you can get over that initial hurdle of navigating though the policies and procedures, everything falls into place.
There truly is endless opportunity hidden within the chaos of it all. Finding balance is the key that unlocks the potential.
My suggestion is that you take advantage of the time spent subcontracting from an owner to bolster driving credentials. Apply for government security clearance, take the Hazmat testing, research TWIC and FAST certifications. Why settle for $1.20 per loaded mile if you are worth so much more by simply by filling out a few forms and having your fingerprints on file?
6 months or a year down the road, you may be considering buying your own truck? Certifications will double your earning potential.

Be patient. Adapt. Be safe. Never stop learning.