True or False?
- Thread starter ATeam
- Start date
Anything is Possible with the right game Plan and the Discipline to work the Plan. I think it can happen,
Owner/Operator since 1979
Expediter since 1997
B Unit Semi Retired
Somedays are Diamonds and Somedays are Stones
Home is Wherever you Park.
The Price of Freedom is Written on the Wall.
Owner/Operator since 1979
Expediter since 1997
B Unit Semi Retired
Somedays are Diamonds and Somedays are Stones
Home is Wherever you Park.
The Price of Freedom is Written on the Wall.
If you make a monthly Deposit for 20 Years of $ 2048.00
for an Interest Rate of 6.500 % compounded Quarterly, you'd have $1,000,207.76
for an Interest Rate of 6.500 % compounded Quarterly, you'd have $1,000,207.76
themagicoen
Expert Expediter
Well go back bout 10 year, take the $2,000/month savings you've been working on and invest it all on the Google IPO. Then fast forward to where the stock hit a high of around $575/share. Then they would be millionaires and in lot shorter time than 20 years. LOL I play a stock market simulator and in about 3-4 years I've gone from $10,000 to close to million - don't know if I would risk real money on some of the trades I do.
DannyD
Veteran Expediter
In todays market I'd say technically the answer is true. Butttttttttt, I wanna add that I think it would be very tough to do & take a lot of discipline. I sure wouldn't recommend someone to count on a retirement like that. If you & Diane are able to do just that I tip my hat to ya. I don't think most people could but technically I do think it can be done. So my answer is "True"
Take care,
Danny
Take care,
Danny
If a million attempted it one would make it to the $1M retirement, a handful would make $750k, several would make $500k and a bunch would make $250k by retirement. The overwhelming majority would retire with a near zero net worth because they have poor/no money management skills and lack the intelligence to see and do what they need to for their retirement.
Leo Bricker, 73's K5LDB, OOIDA Life Member 677319
Owner, Panther trucks 5508, 5509, 5641
Highway Watch Participant, Truckerbuddy
EO Forum Moderator
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Support the entire Constitution, not just the parts you like.
Leo Bricker, 73's K5LDB, OOIDA Life Member 677319
Owner, Panther trucks 5508, 5509, 5641
Highway Watch Participant, Truckerbuddy
EO Forum Moderator
----------
Support the entire Constitution, not just the parts you like.
GittinThere
Seasoned Expediter
We agree with most the post from the question that was possed, which is a very good question. But we totaly agree with Leo's observation, which is totaly true. We know and have met several people, not only in expediting, but in other forms of trucking, that have made very good money, through what they now refer to as the good years, that have very little to show for it and only have themselves to blame. We as others, in the same boat that the question posses, married, our age and empty nest, need to realize that it is totaly up to us to be prepared for our retirement. We agree with the different ranges that maybe many of us would obtain while trying to reach that million mark, but we also know that where you retire to, or live, makes a big difference as to how close you really need to that Million dollar mark. As to wether we think the million can be obtained, we vote true, but in saying that, we aren't reaching that high, but wouldn't complain if we reached it. We do wish everyone good luck, but especially great judgement, in the decissions you make toward your future retirement.
Mr.&Mrs.GittinThere
FedEx CC O/O D6758
OOIDA #788426
That's Us, We're Gittin There!====>
Mr.&Mrs.GittinThere
FedEx CC O/O D6758
OOIDA #788426
That's Us, We're Gittin There!====>
Hard question to answer. Like others, who knows what the future holds.
At one time our investment dollars went 80 to 90 percent into expediting, and our fleet then was more than twice the size. Today, expedite represents only about a third of where we invest and manage.
No industry ever stays the same. It either gets better or gets worse. One has to adjust accordingly during those times to maximize their benefits for all concerned.
True or false question on a 15 to 20 year outlook could be anything you might like it to be.
Davekc
owner
22 years
PantherII
EO moderator
At one time our investment dollars went 80 to 90 percent into expediting, and our fleet then was more than twice the size. Today, expedite represents only about a third of where we invest and manage.
No industry ever stays the same. It either gets better or gets worse. One has to adjust accordingly during those times to maximize their benefits for all concerned.
True or false question on a 15 to 20 year outlook could be anything you might like it to be.
Davekc
owner
22 years
PantherII
EO moderator
silverdollar
Expert Expediter
Yes, it is very possible,look at Davekc.
Yes , I think it can be done if that husban and wife team start out in their truck 1st and then sign on more trucks. Having a fleet of trucks can also make you or break you too. Now if asked me if they can gross a $1,000,000.00 I would say they can do a that easy.
Yes, it is very possible,look at Davekc
===========================================
That can be decieving. We were very fortunate that expediting was very good to us. Actually very simular to a previous career of vending, which was very profitable, and was the stepping stone to our involvement in expediting many years ago. One of those, "right place at the right time".
As a business we continue to diversify in and out of expediting. Vending is simular to expediting in that there is money to be made in both. Million(s) at retirement on the proceeds of an invested retirement account are possible, but not probable based on current economic indicators or forcasts.
That is assuming a $75,000 investment or single truck.
Terry has a very good post,"Rose colored glasses". Much different than some of the latest bs I have been reading. Some of it reads like an ad for Amway. It is one thing to dream, and another to know what is actually realistic. Very important to new folks contemplating large financial commitments.
Davekc
owner
22 years
PantherII
EO moderator
===========================================
That can be decieving. We were very fortunate that expediting was very good to us. Actually very simular to a previous career of vending, which was very profitable, and was the stepping stone to our involvement in expediting many years ago. One of those, "right place at the right time".
As a business we continue to diversify in and out of expediting. Vending is simular to expediting in that there is money to be made in both. Million(s) at retirement on the proceeds of an invested retirement account are possible, but not probable based on current economic indicators or forcasts.
That is assuming a $75,000 investment or single truck.
Terry has a very good post,"Rose colored glasses". Much different than some of the latest bs I have been reading. Some of it reads like an ad for Amway. It is one thing to dream, and another to know what is actually realistic. Very important to new folks contemplating large financial commitments.
Davekc
owner
22 years
PantherII
EO moderator
nightcreacher
Veteran Expediter
>True or False?
>
>In todays expediting market, it is possible for an
>empty-nester married couple to enter expediting with a
>near-zero net worth, work 15 to 20 years in the business as
>a driving team, and retire as millionaires.
in case you didnt know,if you owe a million dollars,you are a millionaire
>
>In todays expediting market, it is possible for an
>empty-nester married couple to enter expediting with a
>near-zero net worth, work 15 to 20 years in the business as
>a driving team, and retire as millionaires.
in case you didnt know,if you owe a million dollars,you are a millionaire