| Welcome to Ezrider's Editor's page, it has been suggested to me that I should write down some of my thoughts about driving a truck and how the trucking industry has changed in the last 30 years and where I think the industry is heading in the next few years. I will also showcase some articles that I think are well written, informative and you would enjoy reading. |
Editorial
Attention Truck Drivers!
Have you read a article that you
think I should showcase on this
page? Contact me and tell me
where to find it or Email me, I'll
read it and if I agree I'll post it!
Have you read a article that you
think I should showcase on this
page? Contact me and tell me
where to find it or Email me, I'll
read it and if I agree I'll post it!
Attention Truck Drivers!
Have you written an article about
your career or the industry?
Send your article to me, I'll read
it and if I like it I'll post it here for
all of the driver's to read!
Have you written an article about
your career or the industry?
Send your article to me, I'll read
it and if I like it I'll post it here for
all of the driver's to read!
 | |  | |  | |  | |  | |  | |  |
I decided to hypothetically put two people seeking professional careers, one a prospective college student, the
other a truck driving school candidate, up against each other in a comparison of job training, annual salary, debt
accumulation, and investment capability, while comparing time frames to similar objectives. Assuming we start this
time frame with the student entering college and the truck driver entering truck driving school.
The college student is seeking one of the top paid careers with a degree in any of the following: Marketing,
Business Administration, Mechanical Engineering, Management Information Systems, Civil Engineering, Electrical
Engineering, Computer Science, Accounting, Finance or Economics. The truck driver is just looking for a good
driving job that will put him home every day with good pay.
To be fair, we will base the cost of the college student's tuition on an average of $16,000 at an in-state public
university, and about $33,000 for a private school each year for 4 years. These costs include tuition, fees, books,
room and board and other expenses.
The cost of the truck driver's training school is $1,500 to $3,500. Most schools pay for room and board and some
company schools pay the student wages while they are training. Company schools will pay for training if the student
agrees to work for them for one year.
Now let's fast forward to the 3 month level from our starting point: The college student is learning and acquiring
debt. The truck driver has completed his schooling and has been making money driving for a break-in company at
the rate of $35,000 a year. The driver has just got enough experience to get hired with a career company and he
does.
One year and 3 months from the starting point: The college student is still learning and acquiring debt, somewhere
between $20,000 and $41,250. The truck driver has had several pay raises, and grossed over $65,000 his first year
with his new company. He put $15,500 in his 401k with a handsome company match. He also put money in an IRA
of $4,000 and is buying stocks. He goes home every day to the brand new house he just purchased, and is
enjoying all the freedom that driving has to offer. Two years and 3 months in: The total debt of the college student is
around $36,000 to $74,250 dollars, but he is learning. The truck driver's gross earnings were $70,000 dollars,
again topping out his 401k and an IRA for a new balance of $43,000 dollars with interest. He is making extra
payments on his home and it has been appraised at a value $4,000 above original purchase price. Three years
and 3 months from the starting gate: Our college student is beginning to realize how long it is going to take to pay
back those student loans. It's a good thing he chose one of the top starting salary majors or he might be in trouble.
His total debt acquired so far: $52,000 to $107,250 dollars. And our truck driver's house value has gone up to a total
of $8,000 dollars above purchase price. His investment account's total balance is $66,250. 4years and 3months
later: Congratulations to our college student! Happy graduation! Your debt is $68,000 to $140,250, plus interest.
Your starting salary as an Electrical Engineer is $54,599. Our truck driver has earned $78,000 dollars this year and
his home value is up $12,500 above the purchase price. His investment portfolio balance is around $91,000
dollars. A year later: In the following year our college student is working and likes his new job. He is in the market
for a new home, but is very limited due to the debt he has acquired. A job starting at $55,000 seemed like a lot of
money when he first started school, but with the student loans to pay back it has limited him to a home below
previous expectations. As much as the student would like to save for retirement, he just can't seem to find the extra
money to invest. To furnish his new home he does what most Americans do, he runs up those credit cards. Sound
familiar?
Our truck driver couldn't be happier. He has plenty of time at work to study and learn all of the things he finds
interesting. His home keeps appreciating and stocks are doing well. He has close to a $130,000 balance in his
portfolio and is enjoying all his free time driving down the road listening to audio books on investing. He is getting
ready to build a new custom home, and with only about five years in this industry, he can see an early retirement on
the horizon.
Now if you look at the college student's $68,000 to $140,250 debt compared to the drivers balance of $130,000 plus
home equity, we have as much as a $300,000 difference at about 5 years. The student has the power of interest
working against him, while the driver has the power of compounding interest working in his favor!
Being happy or successful in life is not about a title or a piece of paper. It's about making wise decisions that can
make your life smooth and stress free. Regardless of the reasoning, taking on debt is not a good plan if you want to
achieve financial independence or experience true freedom in a timely fashion. It's a person's debt-to-income ratio,
and what they do with their money that counts. In this and most scenarios, the college student will not ever catch up
to the truck driver financially. If a person can go to college for free, great! I have yet to see anything that is 100% free.
Even if the college student did go to school for free, he graduates with a balance of $0. The truck driver has a
handsome home and investment portfolio, with the ability to work and live anywhere in the country enjoying all the
freedoms that trucking has to offer.
There is a truck driving shortage in this country that is growing larger each year. There is no shortage of people
taking on and acquiring debt by going to college. Too many people just go to college, no matter the cost, because
they were brought up believing it is the thing to do. The percentage of students that actually graduate and get a
degree that would enable them a have starting wage of $55,000 is extremely small. Many students don't graduate,
but have the student loans to pay back anyway. Over 30% of college students leave after the first year and almost
50% never graduate, according to the Department of Education 2006.
Submitted by Troy Dudenhoefer
other a truck driving school candidate, up against each other in a comparison of job training, annual salary, debt
accumulation, and investment capability, while comparing time frames to similar objectives. Assuming we start this
time frame with the student entering college and the truck driver entering truck driving school.
The college student is seeking one of the top paid careers with a degree in any of the following: Marketing,
Business Administration, Mechanical Engineering, Management Information Systems, Civil Engineering, Electrical
Engineering, Computer Science, Accounting, Finance or Economics. The truck driver is just looking for a good
driving job that will put him home every day with good pay.
To be fair, we will base the cost of the college student's tuition on an average of $16,000 at an in-state public
university, and about $33,000 for a private school each year for 4 years. These costs include tuition, fees, books,
room and board and other expenses.
The cost of the truck driver's training school is $1,500 to $3,500. Most schools pay for room and board and some
company schools pay the student wages while they are training. Company schools will pay for training if the student
agrees to work for them for one year.
Now let's fast forward to the 3 month level from our starting point: The college student is learning and acquiring
debt. The truck driver has completed his schooling and has been making money driving for a break-in company at
the rate of $35,000 a year. The driver has just got enough experience to get hired with a career company and he
does.
One year and 3 months from the starting point: The college student is still learning and acquiring debt, somewhere
between $20,000 and $41,250. The truck driver has had several pay raises, and grossed over $65,000 his first year
with his new company. He put $15,500 in his 401k with a handsome company match. He also put money in an IRA
of $4,000 and is buying stocks. He goes home every day to the brand new house he just purchased, and is
enjoying all the freedom that driving has to offer. Two years and 3 months in: The total debt of the college student is
around $36,000 to $74,250 dollars, but he is learning. The truck driver's gross earnings were $70,000 dollars,
again topping out his 401k and an IRA for a new balance of $43,000 dollars with interest. He is making extra
payments on his home and it has been appraised at a value $4,000 above original purchase price. Three years
and 3 months from the starting gate: Our college student is beginning to realize how long it is going to take to pay
back those student loans. It's a good thing he chose one of the top starting salary majors or he might be in trouble.
His total debt acquired so far: $52,000 to $107,250 dollars. And our truck driver's house value has gone up to a total
of $8,000 dollars above purchase price. His investment account's total balance is $66,250. 4years and 3months
later: Congratulations to our college student! Happy graduation! Your debt is $68,000 to $140,250, plus interest.
Your starting salary as an Electrical Engineer is $54,599. Our truck driver has earned $78,000 dollars this year and
his home value is up $12,500 above the purchase price. His investment portfolio balance is around $91,000
dollars. A year later: In the following year our college student is working and likes his new job. He is in the market
for a new home, but is very limited due to the debt he has acquired. A job starting at $55,000 seemed like a lot of
money when he first started school, but with the student loans to pay back it has limited him to a home below
previous expectations. As much as the student would like to save for retirement, he just can't seem to find the extra
money to invest. To furnish his new home he does what most Americans do, he runs up those credit cards. Sound
familiar?
Our truck driver couldn't be happier. He has plenty of time at work to study and learn all of the things he finds
interesting. His home keeps appreciating and stocks are doing well. He has close to a $130,000 balance in his
portfolio and is enjoying all his free time driving down the road listening to audio books on investing. He is getting
ready to build a new custom home, and with only about five years in this industry, he can see an early retirement on
the horizon.
Now if you look at the college student's $68,000 to $140,250 debt compared to the drivers balance of $130,000 plus
home equity, we have as much as a $300,000 difference at about 5 years. The student has the power of interest
working against him, while the driver has the power of compounding interest working in his favor!
Being happy or successful in life is not about a title or a piece of paper. It's about making wise decisions that can
make your life smooth and stress free. Regardless of the reasoning, taking on debt is not a good plan if you want to
achieve financial independence or experience true freedom in a timely fashion. It's a person's debt-to-income ratio,
and what they do with their money that counts. In this and most scenarios, the college student will not ever catch up
to the truck driver financially. If a person can go to college for free, great! I have yet to see anything that is 100% free.
Even if the college student did go to school for free, he graduates with a balance of $0. The truck driver has a
handsome home and investment portfolio, with the ability to work and live anywhere in the country enjoying all the
freedoms that trucking has to offer.
There is a truck driving shortage in this country that is growing larger each year. There is no shortage of people
taking on and acquiring debt by going to college. Too many people just go to college, no matter the cost, because
they were brought up believing it is the thing to do. The percentage of students that actually graduate and get a
degree that would enable them a have starting wage of $55,000 is extremely small. Many students don't graduate,
but have the student loans to pay back anyway. Over 30% of college students leave after the first year and almost
50% never graduate, according to the Department of Education 2006.
Submitted by Troy Dudenhoefer
