236: Mastering Money Management: A Guide for Independent Contractors in the Trucking Industry

02/26/25 • 47 min

Key topics in today’s conversation include:

Jay’s Background in Financial Planning (1:20)
Understanding Independent Contractors (3:26)
Importance of Separating Finances (7:06)
Working with a CPA (8:02)
Investing Basics (10:52)
Compounding Interest (14:55)
Retirement Savings Strategies (17:29)
Solo 401(k) Options (18:46)
Contribution Limits and Roth IRA (22:32)
Required Minimum Distributions (25:44)
Investment Strategies for Beginners (27:53)
Understanding Index Funds (29:50)
Avoiding Investment Complexity (31:01)
Retirement Income Strategy (35:51)
Withdrawal Rate Guidelines (37:50)
The Importance of Wills (40:39)
Investment Returns and Inflation (42:39)
The Role of Insurance in Financial Planning (44:01)
It's Never Too Late to Start Saving and Final Thoughts (46:38)

Oakley Trucking is a family-owned and operated trucking company headquartered in North Little Rock, Arkansas. For more information, check out our show website: podcast.bruceoakley.com.

Key topics in today’s conversation include:

Jay’s Background in Financial Planning (1:20)
Understanding Independent Contractors (3:26)
Importance of Separating Finances (7:06)
Working with a CPA (8:02)
Investing Basics (10:52)
Compounding Interest (14:55)
Retirement Savings Strategies (17:29)
Solo 401(k) Options (18:46)
Contribution Limits and Roth IRA (22:32)
Required Minimum Distributions (25:44)
Investment Strategies for Beginners (27:53)
Understanding Index Funds (29:50)
Avoiding Investment Complexity (31:01)
Retirement Income Strategy (35:51)
Withdrawal Rate Guidelines (37:50)
The Importance of Wills (40:39)
Investment Returns and Inflation (42:39)
The Role of Insurance in Financial Planning (44:01)
It's Never Too Late to Start Saving and Final Thoughts (46:38)

Oakley Trucking is a family-owned and operated trucking company headquartered in North Little Rock, Arkansas. For more information, check out our show website: podcast.bruceoakley.com.

Previous Episode

235: Get Ready to Roll: Essential Steps for a Seamless Truck Trade-In Experience

Key topics in today’s conversation include:

Discussion on Trading Trucks (1:00)
Listener Experiences with Truck Trading (4:39)
Truck Ownership Statistics (5:05)
Understanding Truck Weight (8:40)
Weight Calculation Tips (10:37)
Understanding Competition in Truck Trading (13:17)
Title and Lien Holder Process (15:30)
Owner/Operator Responsibilities (17:29)
Current Registration Requirement (19:25)
Dealer Communication (22:28)
Equipment Removal Reminder (25:00)
Truck Trading Requirements (27:12)
2290 Transfer Rules (28:42)
New Truck Number Explanation (31:21)
Choosing a Reputable Dealer (34:09)
Recap of Important Tips on Truck Trading (36:19)
Final Thoughts and Takeaways (39:08)

Oakley Trucking is a family-owned and operated trucking company headquartered in North Little Rock, Arkansas. For more information, check out our show website: podcast.bruceoakley.com.

Next Episode

237: Beyond the Usual Freight: Oakley's New Waste Remediation Opportunities

Key topics in today’s conversation include:

Previewing Today’s Episode (0:12)
New Business Opportunities (3:03)
Regulatory Processes (4:41)
Customer Reactions (7:03)
Experience in Waste Remediation (9:29)
Flexibility on Job Sites (12:26)
Importance of Trailer Preparation (14:59)
PPE Requirements (18:14)
Trailer Cleanliness Procedures (21:33)
Dumping Conditions at Landfills (24:15)
Industry Competition and Opportunities (26:02)
Feedback from Drivers (29:39)
Final Thoughts and Takeaways (32:04)

Oakley Trucking is a family-owned and operated trucking company headquartered in North Little Rock, Arkansas. For more information, check out our show website: podcast.bruceoakley.com.