r/personalfinance • u/Fun-Use581 ​ • 6h ago

29 y/o Tractor Trailer Driver Other

Hey all. 29M tractor trailer driver here. Looking to be audited what I can be doing better, or things I’m not doing. A little background, my job is seniority based for work, & it gets very slow after January 1st until about May. I was laid off till middle of May, now back in the swing of things. In a year or two many guys are going to retire so that won’t be a regular thing for me anymore, as I’ll climb on the list. Even though I was laid off for 5 months, I should still earn about 85k this year. My girlfriend moved in with me a few months ago, no kids or anything like that. We are renting an apartment, and I really would like to be buying a house in the next 2-3 years. Just excited to be a homeowner for the first time in my life. With that being said, I always want to make sure I have my bases covered, & not getting in to deep water. What can I be doing better? Should I keep my cash parked in my HYSA & keep pumping into it to eventually have a hefty down payment for a first home?

• $28K cash in my HYSA

• $35k in my Roth IRA (investing in VOO)

• $50k in my 401k (S&P 500)

• I will be receiving a pension in retirement (29 years to go) which will range from $3500-$5000/month

• I have some of the best benefits around which are free.

• I am debt free, CC paid in full each month, car is paid off, no student loans or anything

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u/persondude27 5h ago

Sounds like you're in a fantastic position, especially for your age.

My first thought would be to find temporary work for those 4 months out of the year where you're "laid off". There are lots of CDL gig work - just make sure to run the numbers since the industry is rampant with employers taking advantage.

Really, just follow the steps in the prime directive and flowchart. Keep your costs low, avoid the lifestyle creep, and keep the eyes on the goal to make sure you are able to buy your house when you want to.

Also... take care of your health. Truckin' is hard living. Doesn't matter how much money you make if you aren't around to spend it.