Trucking Pay Big?

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James E.'s Comment
member avatar

Hey all, I had a question for seasoned truckers.

I’ve seen different pay scales for truckers, from new truckers to seasoned truckers. I’ve heard of truckers who own 2 - 3 homes and others who can barely make ends meet.

My question is how do you seasoned truckers make enough money to own 2-3 homes lol? Is their specific industry secrets to make more money or do you invest etc?

Rob T.'s Comment
member avatar

It's not really different for Truckers than it is for other professions. For some this is a 2nd career, or perhaps they inherited money and chose to invest in real estate. You also have some O/O that may believe the revenue to the truck is their profit and spending all that without keeping anything to keep them afloat when things get bad.

Just look at how some people are able to survive comfortably off 40k a year. Then you have some that make over 100k and are "credit card rich". Sure they may have a really nice home but may also be 50k in credit card debt, and owe more on vehicles and home than its worth now.

Are you currently a driver looking to improve your income?

HOS:

Hours Of Service

HOS refers to the logbook hours of service regulations.
Glenbob's Comment
member avatar

Standard of living, financial management and expectations along with work ethic will determine more than “what others are doing”. You have to do for you. I personally try to run 500+ miles everyday I’m out, that equates to what I want to make on a daily average. Last 13 days out my daily average was 547. At the same time I know folks who only go on duty for 8.5hrs a day regardless of how productive it may be. My trainer knew what he had to make for his comfort level. He would not run an extra mile unless it was headed home. Again, your habits will dictate how much you make and what you prioritize to do with it.

PackRat's Comment
member avatar

It's more time and energy than I'm going to type on here, "How to be a successful driver". I do own more than two homes, though.

Work hard, save money, make good choices, etc. It has nothing to do with trucking. This is part of being successful in life.

Stevo Reno's Comment
member avatar

Lots of people live above their means, credit card companies LOVE them types lol I haven't had, or used credit, since 1987, when I got stuck paying all maxed out dept store cards,the ex ran up. From then on, I said it's all cash, or I don't need it, period....I never liked owing anyone, anything.

OWI:

Operating While Intoxicated

James E.'s Comment
member avatar

Thanks for the reply!

Yep I’m a new trucker (early 20’s) looking to increase my income. Any tips?

It's not really different for Truckers than it is for other professions. For some this is a 2nd career, or perhaps they inherited money and chose to invest in real estate. You also have some O/O that may believe the revenue to the truck is their profit and spending all that without keeping anything to keep them afloat when things get bad.

Just look at how some people are able to survive comfortably off 40k a year. Then you have some that make over 100k and are "credit card rich". Sure they may have a really nice home but may also be 50k in credit card debt, and owe more on vehicles and home than its worth now.

Are you currently a driver looking to improve your income?

HOS:

Hours Of Service

HOS refers to the logbook hours of service regulations.
BK's Comment
member avatar

Simple economics. Spend less than you make. Build up a savings account. Don’t buy man toys because they usually have wheels and almost everything with wheels depreciates. Whatever you see the government do with money, do the exact opposite. Encourage your parents to accumulate wealth so you can inherit it when they pass. Don’t get married. But if you have to, pick out someone who already has a six figure income and rich parents. Don’t have kids, they are very expensive.

A few top drivers with lots of experience and sterling records make 100,000 + per year. Most of us make between 40,000 and 80,000. And only have one house or no house, just the truck in which they live.

Turtle's Comment
member avatar
Any tips?

The best tip of all:

Work hard, save money, make good choices, etc. It has nothing to do with trucking. This is part of being successful in life.
PackRat's Comment
member avatar

double-quotes-start.png

Any tips?

double-quotes-end.png

The best tip of all:

double-quotes-start.png

Work hard, save money, make good choices, etc. It has nothing to do with trucking. This is part of being successful in life.

double-quotes-end.png

Thanks Turtle!

After all the passing years, that business degree finally reaps a dividend for me!

rofl-2.gif rofl-2.gif

Danny K.'s Comment
member avatar

The best advice I can give is to be a Mustachian. smile.gif see there's this guy Mr. Money Mustache who does a bunch of free advice on his blog about early retirement. the jist of it all is you get yourself in the habit of spending less then you make and you start putting a chunk of that extra money in index funds. I'd do a crappy job of explaining those but search for what he has to say about it. one of the safest ways to invest over the longterm and get good returns and if you start now when you're this young you'll be sitting pretty down the road. I'm putting 10k in at the end of my first year and plan on doing that again each year, maybe 20k if I can start to swing it. so now if your averaging 10% return on investment per year which is how the index funds go and I keep on putting 10k in each year, in 20 years that's $430,000 interest earned. now at that point you got $640k total and if you stop putting money in then you still average $64k interest each year, that's most people's whole salary, but it's free money each year, sacrifices in the short term pay off big in the long run.

HOS:

Hours Of Service

HOS refers to the logbook hours of service regulations.
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