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You're Locked Into Living Paycheck to Paycheck

Home Blog You're Locked Into Living Paycheck to Paycheck

The Ugly Truth About Truck Drivers #11: You're Locked Into Living Paycheck to Paycheck

Today in America, living paycheck to paycheck is sadly not at all unusual. But truck drivers got into this insanely demanding career believing that they'd earn something better, to provide a more secure life for themselves and their families. Stark reality hits when you realize you're exhausted, depressed, too tired and stressed to drive safely, your family is breaking apart, and yet you and your family are still struggling financially.

The American Economy is Letting Us Down

For the past 12 years, the cost of living has risen faster than growth. Median income has grown 26% since 2003 while medical costs rose 51% and food and beverage costs grew by 37%, according to NerdWallet.com.

76% of Americans are living paycheck to paycheck with little to no emergency savings, and 43% of American families spend more money each year than they earn.

  • 46% of Americans carry credit card debt over monthly with an average credit card debt of $15,355.
  • Around 70% of car purchases involve an auto loan, and the average auto loan debt is $26,530.
  • 41% of working age citizens are carrying medical debt.
  • The average mortgage debt is $165,892 and mortgage lenders now have more equity in homes than people do.

Retirement is becoming a forgotten dream. 46% of American adults report being very concerned about saving money for a comfortable retirement, and considering that that same amount of people have less than $10,000 saved for retirement, it seems that appraisal is a vast understatement when retirement experts suggest that you have three times your annual salary saved by the age of 40.

36% of American citizens have nothing saved for retirement and 40% of baby boomers are expecting to work until disabling injury or death.

Truck Drivers Fare No Better

Though truck drivers chose this career believing they'd avoid being one of those statistics, that hasn't turned out to be true.

Glassdoor reports the average truck driver salary at $44,420.

$44,420 is not enough money to:

  • Live comfortably in most U.S. cities
  • Support a family
  • Save for emergencies
  • Save for retirement
  • Stay out of debt

Truck drivers have no built-in retirement plan nor do they growing a pension fund. You have no options for career advancement, and you don't have time to work another job to supplement your income. Most truck drivers get into the career at a later age in life, so breaking into yet another career seems unlikely without a college degree or time in your schedule to get one, and you've invested so much time and money that you don't want to give up, particularly if you are one of many independent owner operators.

This situation makes truck drivers feel trapped, powerless, helpless, and completely drained. You can't spend more time at home to find relief or contribute non-monetarily to your family or you lose income, and if you stop driving, your income stops.

Accepting The Ugly Truth About Living Paycheck to Paycheck Leads to a Nice Truth

There is a way out of this trap. Truckonomics offers freedom from debt and a six-figure pension plan for the rest of your life. We're working with top carrier firms to make it all possible. Soon, you will have the option to own a fleet of trucks at an affordable price that provides supplemental income, the opportunity to retire after 10 years, and a well-earned pension to allow you to live comfortably when you choose.

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About the author

Truckonomics Media

I live the life of a long-haul truck driver. For $0.54 per mile, I drive a class 8 commercial truck 165,464 miles a year in any weather, day or night, across all 48 states of the continental USA pulling a 53-foot-long, climate-controlled trailer loaded full of freight.


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