First post, lots of questions
- Thread starter OhioStomper
- Start date
>I need to clear around 60,000 by December 31, 2007
In round numbers you are looking to clear the equivalent of $3000 per month. You mentioned a $25k truck. That would be a few years old. I'm not sure how long you could finance such a truck for so let's presume you have 24 months to pay it off. Presumably you will be selling the truck after the 20 months usage is up. Let's presume you are able to sell it for $15k. You won't get that immediately however it is probably ok to get it in March/April 2008 to rebuild the coffers. Your monthly truck expense is going to be a couple thousand dollars between payment, insurance and maint/repairs. Whether you expedite or work for your dad you will have the truck expense to cover.
The most significant factor I see is the marital harmony issue. IF you are committed and focused you could reach your financial goal either way however doing so expediting with the added issue of home or around home every weekend is going to make that choice hugely more difficult. If your numbers are correct and you will pocket $1300 weekly after all truck and road expenses the 3 steel runs are the way to go. It would only take 46 weeks to put $60k in the bank at $1300 weekly. Make the runs starting 4/1/06 through 8/15/07 which is about 76 weeks and that's almost $100k. Even taking out reasonable home expenses you'd still have your $60k left in the bank. As someone else mentioned, find a short run or two that can be made as well and your war chest grows even more. Good luck to you.
Leo Bricker, owner trucks 3034, 4958
OOIDA 677319
73's K5LDB
Highway Watch Participant, Truckerbuddy
EO Forum Moderator 1+ Years of Service
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Support the entire Constitution, not just the parts you like.
In round numbers you are looking to clear the equivalent of $3000 per month. You mentioned a $25k truck. That would be a few years old. I'm not sure how long you could finance such a truck for so let's presume you have 24 months to pay it off. Presumably you will be selling the truck after the 20 months usage is up. Let's presume you are able to sell it for $15k. You won't get that immediately however it is probably ok to get it in March/April 2008 to rebuild the coffers. Your monthly truck expense is going to be a couple thousand dollars between payment, insurance and maint/repairs. Whether you expedite or work for your dad you will have the truck expense to cover.
The most significant factor I see is the marital harmony issue. IF you are committed and focused you could reach your financial goal either way however doing so expediting with the added issue of home or around home every weekend is going to make that choice hugely more difficult. If your numbers are correct and you will pocket $1300 weekly after all truck and road expenses the 3 steel runs are the way to go. It would only take 46 weeks to put $60k in the bank at $1300 weekly. Make the runs starting 4/1/06 through 8/15/07 which is about 76 weeks and that's almost $100k. Even taking out reasonable home expenses you'd still have your $60k left in the bank. As someone else mentioned, find a short run or two that can be made as well and your war chest grows even more. Good luck to you.
Leo Bricker, owner trucks 3034, 4958
OOIDA 677319
73's K5LDB
Highway Watch Participant, Truckerbuddy
EO Forum Moderator 1+ Years of Service
-----
Support the entire Constitution, not just the parts you like.
RichM wrote,
>In my years as an expediter I have grossed over two million
>dollars but the key word is GROSS. Net is what matters.
Rich, I know you have driven both solo and team with your wife in your career. What is your estimate of how much of that $2 million gross was from team driving and how much from solo?
In other words, in rough-estimate terms, what percentage of time did you drive team, and what percentage of time did you drive solo?
>In my years as an expediter I have grossed over two million
>dollars but the key word is GROSS. Net is what matters.
Rich, I know you have driven both solo and team with your wife in your career. What is your estimate of how much of that $2 million gross was from team driving and how much from solo?
In other words, in rough-estimate terms, what percentage of time did you drive team, and what percentage of time did you drive solo?
mrgoodtude
Not a Member
Look between the stabs and you will find great advice. Cynthia and I average a net of 35k a year a piece and we run hard but we are empty nesters and don't have to rely on the greenbacks. My personal opinion... expedite is for the semi retired and if you can avg 1300 a week with steel coils and your wife is that special someone (drivers wife) then get to it. You will not make that kinda money in solo expedite. We do this because we like each other and we are on a perpetual vacation. We have annual passes to all national parks and amusement parks in the US and enjoy them because of expedite, big a## kids we are.
Mike and Cyn
Mike and Cyn
OhioStomper
Expert Expediter
Hey guys, I bought my truck today. Bought a Freightliner FLD with a condo sleeper, M11 cummins, & a 10 speed tranny. Just need to get her tagged and I am off to work. I really do appreciate what you all had to say. Just because I'm not gonna drive expedite doesn't mean I'm not gonna drop by and see whats going on every now and then. See you all on the road.
tallcal101
Veteran Expediter
You speaketh the truth o sage.Retire and see the world(Amrerica at any rate)and get paid along the way!!
Why do so many try so hard to make this brain surgery.
Why do so many try so hard to make this brain surgery.