Author Topic: Before FIRE I wanted to start a business..... BuT now...  (Read 2416 times)

DanLee

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Before FIRE I wanted to start a business..... BuT now...
« on: December 28, 2017, 08:34:17 AM »
Hello,

Before I Fired I was working hard to save to start my own Trucking business, bud now that I am financialy free I don't want it anymore! Somebody recognize this?


I was really ambisous. I studied sales, financials, personal management and calculation, and I got my NIWO permit you need before you are allowed in europe to start a trucking business. I even got a permit to start a bus company for traveling people because a lot of theory is the same. And I got my buss driver license next to my truck driving license.  And all other papers for dangers goods, live stock, HACCP/ATP conditioned transport etc...
Truck driving is a very capital intensive business where it is normal that clients only pay you after 90 days, and you have to pay diesel upfront before you get paid.

Thats what got me in savings mode, and investing. And later I found this forum.

Bud now that I am free to do what I want, I don't want it anymore. I wish I didn't spend so much money on education, and getting my buss drivers licence that I never use. I wish I also invested it all.

I was listening to the mad fientist podcast and reading lackingambition, and I recognize the same thing.

When you have all the time in the world, and the financial freedom to start a business, and you don't depent on it becoming succesfull to be able to eat. It doesn't sound as a good idea anymore.

My priorities are now somewhere else, this keeps me think, was money my only ambition?
« Last Edit: January 02, 2018, 07:13:12 AM by DanLee »

Roe

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Re: Before FIRE I wanted to start a business..... Bud now...
« Reply #1 on: December 30, 2017, 02:44:36 PM »
Maybe this was your dream within the frame of options you had at the time.

Your frame has broadened, it's not a bad thing. Maybe there is some part of the investments you are still able to use? Just in another context. If so, take advantage of that. If not, enjoy a trip that took you here, don't bother to much with the road behind you.
Beans&rice, my love!

HawkeyeNFO

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Re: Before FIRE I wanted to start a business..... Bud now...
« Reply #2 on: December 30, 2017, 03:01:27 PM »
"Bud now?"  As in Budweiser?  Or as in a green leafy substance?

MrThatsDifferent

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Re: Before FIRE I wanted to start a business..... Bud now...
« Reply #3 on: December 30, 2017, 04:59:13 PM »
"Bud now?"  As in Budweiser?  Or as in a green leafy substance?

Ok, so it wasn’t just me

Megma

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Re: Before FIRE I wanted to start a business..... Bud now...
« Reply #4 on: December 30, 2017, 05:33:42 PM »
Oh I had so much ambition when I was young...now I just want to coast to FIRE. Does one grow out of ambition? Lol

steveo

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Re: Before FIRE I wanted to start a business..... Bud now...
« Reply #5 on: December 30, 2017, 07:35:19 PM »
I also used to want to start my own business but as soon as I found the FIRE concept I realised I didn't need too. I think wanting to start my own business really was about gaining freedom. I think it's easier to gain freedom just by saving and investing and maintaining my crappy job.

I should add that my crappy job is fine. It pays reasonably well and I work with a bunch of great guys. My management sucks dogs balls but I speak to them once or twice at best per year.

DanLee

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Re: Before FIRE I wanted to start a business..... Bud now...
« Reply #6 on: December 31, 2017, 09:42:43 PM »
Budweiser we don't know about this in europe.

I can see myself as a business owner, I only outsourced ecerything :p. My boss does the leasing of the truck for me and finding freights for me and does all the paperwork and billing. And salary is outsourced by a employment agency.

You feel the same about having thesr great ideas to make money bud don't feel like a good idea when you actually know how much work it really takes and the risk involved.

soccerluvof4

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Re: Before FIRE I wanted to start a business..... Bud now...
« Reply #7 on: January 01, 2018, 05:58:04 AM »
Hello,

Before I Fired I was working hard to save to start my own Trucking business, bud now that I am financialy free I don't want it anymore! Somebody recognize this?


I was really ambisous. I studied sales, financials, personal management and calculation, and I got my NIWO permit you need before you are allowed in europe to start a trucking business. I even got a permit to start a bus company for traveling people because a lot of theory is the same. And I got my buss driver license next to my truck driving license.  And all other papers for dangers goods, live stock, HACCP/ATP conditioned transport etc...
Truck driving is a very capital intensive business where it is normal that clients only pay you after 90 days, and you have to pay diesel upfront before you get paid.

Thats what got me in savings mode, and investing. And later I found this forum.

Bud now that I am free to do what I want, I don't want it anymore. I wish I didn't spend so much money on education, and getting my buss drivers licence that I never use. I wish I also invested it all.

I was listening to the mad fientist podcast and reading lackingambition, and I recognize the same thing.

When you have all the time in the world, and the financial freedom to start a business, and you don't depent on it becoming succesfull to be able to eat. It doesn't sound as a good idea anymore.

My priorities are now somewhere else, this keeps me think, was money my only ambition?



I will add this aspect to your opening. I fire'd being in the trucking business , having both my own fleet and also running a very large brokerage for 25+ years for my self and several years before that for others. I dont know how it is where you are from but I wouldn't recommend it here with all the changes that have happened in the industry. I went from loving it to hating it hence why I Fire'd. Its a terrible business now in the states and just the thought of it writing this makes me stressed out!  I could list all the reasons and problems but I think you might have been saved from a lot of agony!
" In life you don't get what you deserve you get what you negotiate"

DanLee

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Re: Before FIRE I wanted to start a business..... Bud now...
« Reply #8 on: January 01, 2018, 06:29:15 AM »
Hello,

Before I Fired I was working hard to save to start my own Trucking business, bud now that I am financialy free I don't want it anymore! Somebody recognize this?


I was really ambisous. I studied sales, financials, personal management and calculation, and I got my NIWO permit you need before you are allowed in europe to start a trucking business. I even got a permit to start a bus company for traveling people because a lot of theory is the same. And I got my buss driver license next to my truck driving license.  And all other papers for dangers goods, live stock, HACCP/ATP conditioned transport etc...
Truck driving is a very capital intensive business where it is normal that clients only pay you after 90 days, and you have to pay diesel upfront before you get paid.

Thats what got me in savings mode, and investing. And later I found this forum.

Bud now that I am free to do what I want, I don't want it anymore. I wish I didn't spend so much money on education, and getting my buss drivers licence that I never use. I wish I also invested it all.

I was listening to the mad fientist podcast and reading lackingambition, and I recognize the same thing.

When you have all the time in the world, and the financial freedom to start a business, and you don't depent on it becoming succesfull to be able to eat. It doesn't sound as a good idea anymore.

My priorities are now somewhere else, this keeps me think, was money my only ambition?



I will add this aspect to your opening. I fire'd being in the trucking business , having both my own fleet and also running a very large brokerage for 25+ years for my self and several years before that for others. I dont know how it is where you are from but I wouldn't recommend it here with all the changes that have happened in the industry. I went from loving it to hating it hence why I Fire'd. Its a terrible business now in the states and just the thought of it writing this makes me stressed out!  I could list all the reasons and problems but I think you might have been saved from a lot of agony!

Hi soccerluvof4,

What are the things that changed that you didn't like in the trucking business?

terran

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Re: Before FIRE I wanted to start a business..... Bud now...
« Reply #9 on: January 01, 2018, 08:14:06 AM »
"Bud now?"  As in Budweiser?  Or as in a green leafy substance?

Ok, so it wasn’t just me

I think this is an english language thing. I'm sure he writes better english than most of us write whatever his primary language is.

DanLee, I think the word you're trying to use when you type "bud" is "but." You're using it correctly (as the more common alternative to a word like "however"), you just need to replace the "d" with a "t." As in: "I was going to start a business, but I decided I didn't want to."

Chrissy

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Re: Before FIRE I wanted to start a business..... Bud now...
« Reply #10 on: January 01, 2018, 09:25:10 AM »
It sounds to me like you were after the freedom, not the money.  And, now you have the freedom, so you don't need the trucking company to give that to you.

DanLee

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Re: Before FIRE I wanted to start a business..... Bud now...
« Reply #11 on: January 02, 2018, 07:14:27 AM »
It sounds to me like you were after the freedom, not the money.  And, now you have the freedom, so you don't need the trucking company to give that to you.

Yes, I didn't look at it this way. I think you are right.

Did you have some big ambitions before FIRE?

HawkeyeNFO

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Re: Before FIRE I wanted to start a business..... Bud now...
« Reply #12 on: January 02, 2018, 02:53:18 PM »
Budweiser we don't know about this in europe.

So you are not Czech then.
https://en.wikipedia.org/wiki/Budweiser_Budvar_Brewery


Chrissy

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Re: Before FIRE I wanted to start a business..... Bud now...
« Reply #13 on: January 02, 2018, 03:39:41 PM »
It sounds to me like you were after the freedom, not the money.  And, now you have the freedom, so you don't need the trucking company to give that to you.

Yes, I didn't look at it this way. I think you are right.

Did you have some big ambitions before FIRE?

I am only semi-retired.  My big career ambitions were completed 10 years ago, and I don't have anything more that can be accomplished on that score.  My personal ambitions were to get in great physical shape, do creative and non-fiction writing, try archery, trapeze, travel, pursue any interest that came up along the way, and have children.  I have done all of that... and there will be more to follow, even if I don't have a particular idea in mind, because one's desires ebb and flow like a stream, and opportunities present themselves at random.  If you can be patient, but ready, and have an adventurous spirit and/or just a little imagination, something wonderful will come your way.

SwordGuy

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Re: Before FIRE I wanted to start a business..... BuT now...
« Reply #14 on: January 02, 2018, 04:31:03 PM »
We're planning on buying and fixing up a house or two a year for the five years after we FIRE.

Then again, we might decide we don't have to. :)

We have a mentally handicapped daughter so we want to be extra sure there will be enough to take care of her after we're gone.

soccerluvof4

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Re: Before FIRE I wanted to start a business..... Bud now...
« Reply #15 on: January 03, 2018, 04:07:15 AM »
Hello,

Before I Fired I was working hard to save to start my own Trucking business, bud now that I am financialy free I don't want it anymore! Somebody recognize this?


I was really ambisous. I studied sales, financials, personal management and calculation, and I got my NIWO permit you need before you are allowed in europe to start a trucking business. I even got a permit to start a bus company for traveling people because a lot of theory is the same. And I got my buss driver license next to my truck driving license.  And all other papers for dangers goods, live stock, HACCP/ATP conditioned transport etc...
Truck driving is a very capital intensive business where it is normal that clients only pay you after 90 days, and you have to pay diesel upfront before you get paid.

Thats what got me in savings mode, and investing. And later I found this forum.

Bud now that I am free to do what I want, I don't want it anymore. I wish I didn't spend so much money on education, and getting my buss drivers licence that I never use. I wish I also invested it all.

I was listening to the mad fientist podcast and reading lackingambition, and I recognize the same thing.

When you have all the time in the world, and the financial freedom to start a business, and you don't depent on it becoming succesfull to be able to eat. It doesn't sound as a good idea anymore.

My priorities are now somewhere else, this keeps me think, was money my only ambition?



I will add this aspect to your opening. I fire'd being in the trucking business , having both my own fleet and also running a very large brokerage for 25+ years for my self and several years before that for others. I dont know how it is where you are from but I wouldn't recommend it here with all the changes that have happened in the industry. I went from loving it to hating it hence why I Fire'd. Its a terrible business now in the states and just the thought of it writing this makes me stressed out!  I could list all the reasons and problems but I think you might have been saved from a lot of agony!

Hi soccerluvof4,

What are the things that changed that you didn't like in the trucking business?



Back in the day you could throw a dollar out the window and a ten would come back but now you would be lucky mostly because of the regulations to make your  1$ back.

Trucking was always a hand shake and you were good. Companies and your contact would appreciate you. Now everything is done online and its to the cheapest bidder. In most cases your contact needs to get 3 bids for their boss. There are exceptions of course but not enough to run a business of any size. Plus while good for the reduction of emission etc...The government keeps making changes to tractor requirements which every time raises the cost 7-10k on the engine combined with the fact there is such a driver shortage that someone offers them a few pennies more they wont stick around.

Companies intentionally will short pay you knowing that if you want there business you will overlook it. Add to that everyone seemingly doesn't want to have the liability of unloading there own trucks so they hire outside services that you have to pay to get unloaded some stupid amount of money (this is mostly in food) and your lucky to get it all back not to mention your drives get held up twice as long.

The reduction of drivers hours and having to be forced to go to paperless logs is another biggie. People ship last minute and want it there right away so they have no inventory so unless you can find freight that is in no hurry then good luck being on time and then when your not fighting to get paid. Plus the railroad is finally being run better so its alot cheaper to ship things longer distances via train which is actually a good thing.

Those are just a few. I was very passionate and loved the business but they are chopping the legs out of people in the industry. To many people are running illegal to make money and its not worth the risk to stay in the business. All the online quoting and stuff takes all the personal relationship building out of it. Permits, fuel taxes etc.. all on the rise and alot of work again depending on how big you get.  I know people that have got into the busing business and they wish they hadnt because the regulations are even worse and then your dealing with passengers.  I will add I hauled for alot of fortune 500 companies that you would know and alot of smaller companies. For awhile the smaller companies you could still deal with but there just as bad if not worse now because they have to compete. I think most of the regulations are good but then with deregulation on rates for service its just a major conflict. Thats the long and the short of it.

" In life you don't get what you deserve you get what you negotiate"

DanLee

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Re: Before FIRE I wanted to start a business..... BuT now...
« Reply #16 on: January 05, 2018, 11:23:14 AM »
I recognize the points you mentiod in the trucking business. Truckers leaving if they get paid more because of a shortice is less a problem in the Netherlands because here we have a CAO that sets maximum hourly rates based on the kind of work a trucker does and if he drives national or international. And maybe dutch people are more afraid of changeing their jobs.
People prefer to complain and do nothing because they have a contract with no end. Me I don't mind what kind of contract I have. Only if the job is fun and close by home and if I can work when I want.😀

heybro

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Re: Before FIRE I wanted to start a business..... BuT now...
« Reply #17 on: January 09, 2018, 01:55:24 AM »
Danlee,
I love that you posted this.  It is so so so so telling and true.
When I paid off all my student loans, I was completely surprised by my new outlook on life.  It was completely different than what I had expected.  These things are chains on you and you can't follow the mindset they put you in.  New mindsets come with new freedoms.
Bravo.

Linda_Norway

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Re: Before FIRE I wanted to start a business..... BuT now...
« Reply #18 on: January 09, 2018, 05:06:43 AM »
My priorities are now somewhere else, this keeps me think, was money my only ambition?

Maybe it was not only money you we after, but being in control of your own life. Working for "the man" is different from being your own boss. I can imagine wanting to have your own company. I have often fantasized it as well. But having your own company is a great lot of work and having responsibility for your own income. That is why working for "the man" has been more convenient in some ways, like having a fixed income every month. with the downsides of not having freedom to decide how you want to do your job.

I can imagine that FIRE leads to you being very much in control of your life (or only being depending on the stock market). It takes away the need to start a company. You could always consider it again when you want to do something for fun.

Roadrunner53

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Before FIRE I wanted to start a business..... BuT now...
« Reply #19 on: January 09, 2018, 06:01:49 AM »
Check out driving for Ice Road Truckers. It is seasonal and you make a lot of money. However, beyond dangerous!