I'm 28 years old

Lunatick
Lunatick

I'm 28 years old. I take home ~$4,500 a month driving a tractor trailer and have been driving since I was 22. Besides food and shit, I really have no expenses besides my cell phone bill, Netflix, Spotify.

What should I do from now on? I really like my job and enjoy to travel. I get to go to Zoos and Museums on my day off. I like stopping at flea markets and stuff. I really like the company I work for and hope to become a Driver Manager or Safety Coordinator one day where I can work at the terminal and be home every night. Until then, I have no motivation to buy a home or rent a place. I go home for 2-3 days maybe once or twice a month, and just crash on the couch at my Dad's or Grandma's home.

I have almost ~$150K in savings, most of it in a Money Market, some in CDs, and about $1,400 split between my checking and savings accounts. I have ~$42K in my 401K, which I started putting money into about 3 years ago. Should I begin investing in the markets?

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Booteefool
Booteefool

@Lunatick
Allocate about 35% of that and invest in bluechip stocks or an index fund. You have a lot of cash saved up to even put a down payment on an investment property. Make that money work for you. Don't let it just sit there. Invest it in stocks or real-estate.

Sir_Gallonhead
Sir_Gallonhead

Save your money. Don't invest. You're not an investor. Morons on Veeky Forums that know absolutely nothing will tell you to invest. Don't do it.

Bidwell
Bidwell

@Sir_Gallonhead
He really should just put all his money into index funds after the next market crash if he's just going to let it sit there.

Poker_Star
Poker_Star

@Bidwell

I want to use the money to buy a house and stuff eventually, so it's not put away until I'm 60 money. Just wondering what to do with it until then. Nothing risky. Should I just go ahead and buy a house and rent it out to cover the mortgage? And then move in once I'm in a position where I'm home more than once or twice a month?

WebTool
WebTool

@Poker_Star
Well you want your money to work for you, so it really depends on the mortgage rate. Basically, if you think you can get a mortgage and out compete the interest rate of the mortgage by investing the money you would have paid flat out into an index fund, you should do that. However, right now is definitely not when you should do that.

GoogleCat
GoogleCat

@Lunatick
Do you have time to be home or with your family or are you always driving?

Carnalpleasure
Carnalpleasure

@Lunatick
Yo fellow supertrucker! Greetings from Kansas! Lol, former i should say. Fuck i hated driving... was probably the fact that i fell for the trucking school meme and headed to salt lake and drove for cwntral refrigerated for a while. I'd go ahead and start showing an interest in being a dm. Get u a shit little 1 bedroom studio for cheap and be home every night. Until then if u continue to drive my only advice other then watch out for Swift and faggot 4 wheelers would be invest in some personal finance and investment books. U havr the ability to study the real estate market in every corner of the county. Take advantage of it user.

Incest in your brain before you waste money.

I canceled my 491k once i understood wtf it was.

Trusting your future to a stock market is insanity.

Gl out there op.

Drive safe!

DeathDog
DeathDog

@Lunatick
Yeah, i 100% would buy up some real estate books. If possible question some real estate investors u know. There are a lot of tax breaks in it, also, banks love to loan money to buy real estate and love to use real estate for colatteral for loans to buy more. America is geared towards property investors in a big way.

Im working on my 3rd house and dont even really know wtf im doing.

With the expendable income u have just assume that if u buy right, u can pay 20% cash down for a rental that will make its own payments and pay u every month.

Every 6 months or so borrow against them for more property. You could quite easily skip being a dm alltogether if u rent some shit outm

New_Cliche
New_Cliche

@Bidwell
Lol, so ot can crash again? 100% fuck the index fags, stock traders, and shillcoiners.

Its all fucking gambling

If your that damned sure the market is going up or down set up your stops and shorts and buy options.

Smh...

Fried_Sushi
Fried_Sushi

@New_Cliche

Even with the crashes, the S&P averages 10% a year. Stay ignorant. People who get scared about crashes are retarded, unless they are ~5 years away from retirement.

Techpill
Techpill

@GoogleCat
Fuck my family. It's the reason I got into trucking in the first place. Only way I could get out of this shit town.

@Carnalpleasure
I started out with Swift because of their trucking school. Nothing bad about them, besides their lies and false promises the recruiter tells you. But they have nice trucks and DMs try to get you your best miles. It's also a mega company so there's really no big deal in declining loads or refusing to go to a certain area. I would recommend for any new driver. The pay is shit but it's really the only option to get you driving for free (upfront) and get your year's experience and move on. And nothing makes you more angry than sitting in the straight lane with your signal lights to turn left because it's a wide turn and faggot four wheelers just pull up in the turning lane to block you off.

@DeathDog
How much do property management companies cut into profit?

Crazy_Nice
Crazy_Nice

/Live police chase of big rig driver! Is you op

http://abc7.com/live/

Lord_Tryzalot
Lord_Tryzalot

@Crazy_Nice
http://abc7.com/live/

That's my buddy Albert

likme
likme

@Lunatick
If I were you (and I was) I'd just keep doing what I'm doing.

You're in a far better position than everyone else who clicked reply, you want to keep it that way so you do NOT want their advice.

Poker_Star
Poker_Star

@Fried_Sushi
Is your livelihood invested in the S&P500? You're that fucking smug about it's 'dependable returns'?

You accuse people of being ignorant and I bet you're so poor, homeless people fucking cringe at the sight of you

ZeroReborn
ZeroReborn

@Lunatick
If you are mostly invested in index funds such as dow or sp500, with 150k, you will do ridiculously well in short term future. You will have 300k in no time, less than 4 years if you keep monthly investing. Avoid individual stocks mostly if you want guaranteed cash flow

SomethingNew
SomethingNew

@Fried_Sushi
Pffff.

Listen mutherfucker.

when you "invest" in these fucking infex funds you are gambling
you're hoping the market goes up
you're also taking the biggest and best thing about handling your wealth (wich is control) and just fucking pissing it away
lol, stay poor samefag
i'll keep borrowing to the hilt and doing real estate deals while throwing extra money into you index bullshit and flipping a quarter.

kizzmybutt
kizzmybutt

@Techpill
From what i hear property managers normally take 10% on average. One of my best friends dad used to have about 40 properties and sold out over time while building his property management company. I think he charges like 12%. I'm gonna offer him 15% to take me on soon just because it a load off to be able to hire someone and trust them off the bat. Plus he is good and may do a little handholding. Pretty sure he even vets clients and holds insurance if they bail on you. I dunno.

If i can make the numbers work i'd give him 95 fucking percent of the incomes if i could still make money. I dont give a shit.

Being a landlord sucks a lot of ass. I knew it would though. Id say get a feel for it and by 4 or 5 houses you'll have no trouble getting a property manager.

That being said though if you'll be gone a lot trucking you want to be careful and make damned sure u get a good property management firm. In any case gl out there user.

Techpill
Techpill

@Poker_Star
Lol!!! Fucking

THIS

Evilember
Evilember

@Sir_Gallonhead
This is the dumbest thing I have ever heard.

Any old fag will tell you that the only regret they have with investing in the stock market is they wish they started sooner.

OP, you're fine with what you're doing now as long as your money market is paying at least some interest (my 401k is mostly money market right now and pays about $200 monthly that is reinvested partially into stocks automatically)

The best way to invest in the stock market is to select a number of mutual funds that are diverse IE large cap growth, midcap, smallcap, and perhaps something that has apple or someshit as one of its largest holdings and then set up an account that will automatically buy in small increments each one over time...that way minimal time investment on your part and you will ultimately benefit the most in the long run.

Look into DRIP (dividend re-investment plan) so that any dividends you get are reinvested.

Just make sure you do a little research and don't get screwed with fees or other shady tactics. I have an account with T Rowe and I think I pay the occasional 6 dollar fee or something.

Obviously only invest in real estate if you are willing to put in the effort (maintenance of property, dealing with renters, etc)

Either way you are in great shape and if you're smart you'll be pulling in $5k+ in passive income by the time you're ready to retire be that in stock dividends or rental income.

As for me, I've done well timing the market and have outperformed in my 401k but missed out on the last bump up to new highs because I'm a pussy and scared of big correction.

In my trading account I have lost about $30k in the past year trading meme stocks but will hopefully turn that around being less dumb now.

RavySnake
RavySnake

I went ahead and put all of my 401K money into VOO. Still don't know what to do with my savings yet. I'll have to talk to a real estate investor or financial adviser when I got home time to discuss what I could buy to rent out that could actually make some money after interest rates, insurance, taxes, etc.

RumChicken
RumChicken

@Lunatick

Like many anons have predicted, we could have a crash soon. For that reason I would not put your money into the market. Just keep doing what you are doing.

Maybe buy some gold.

Skullbone
Skullbone

@Lunatick
How difficult is it making the transition from driving a normal car to a big ass 18-wheeler?

Emberburn
Emberburn

@Skullbone
Also bitcoin

Garbage Can Lid
Garbage Can Lid

@Skullbone
Not OP but i can drive anything with wheels. Most things without.

It's about like being the centerpiece of a 50 man circlejerk until u get the hang of it. Then it's second nature like anything else. I didnt tell central and drove 2 months with a broken leg. Fuck using a clutch. U really wanna drive go get a job at a mine or a quarry.

9p ton pos euclid. It's like walking upstairs in your house and driving it down the road. Lol.

pic related.

Except our stupid fucking boss had 10 foot sides welded on top so u can't climb a hill and haul dangerous as fuck large loads. He's a fucking idiot and gonna get someone killed.

Lord_Tryzalot
Lord_Tryzalot

@Sir_Gallonhead
This 22 yo here lost $500 bucks in ~3 months. Never again will I trade the stock Jew

Gigastrength
Gigastrength

Damn, that's nice. I'm 24 and making $1700 before taxes, half which goes to rent, a quarter goes to food, and the last quarter for other bills. Money in my pocket: $0

Deadlyinx
Deadlyinx

Have you ever considered buying your own truck and becoming an owner-operator?

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