•    Since Adults seem to be in charge again, Truckingboards is back on Twitter @truckingboards

ABF | RB's Infinite Wisdom

Steward of the Rock

Well-Known Member
All this talk about IRA’s, 401K’s, company match, compounding, etc., etc………
My financial advisor is Seabreeze. And he told me the best long term investment is a good BMJ plan also known as “Buried Mason Jars”. There are no taxes when you choose to withdraw regardless of age. And the money is always there. Especially if you did not map where you buried it at.
:lmao::lmao::lmao:
 

Triplex

Experienced stalker
All this talk about IRA’s, 401K’s, company match, compounding, etc., etc………
My financial advisor is Seabreeze. And he told me the best long term investment is a good BMJ plan also known as “Buried Mason Jars”. There are no taxes when you choose to withdraw regardless of age. And the money is always there. Especially if you did not map where you buried it at.
:lmao::lmao::lmao:
Yes, but he didn't tell you that when he went through that section (where he buried the jars) with his Roto-tiller he broke all the jars and the paper money rotted. :duh:
 

hangbelly

Active Member
No employee, Teamster or otherwise, ever gets ripped off if he is paid the agreed to rate for the work he performs.
Your argument is foolish. If you think you should be paid by the volume of freight on a trailer, I guess being paid the same rate for empties as for loads should be addressed.
As usual, your anti -labor theory goes straight into the crapper when it comes down to fair compensation for that 3rd trailer, and it borders on criminal abuse because it is such a fantastic deal for the companies. I lived through the nightmare of forcing triples into inclement weather with threats and intimidation against drivers that tried to comply with the permit restrictions regarding weather. ABF, thankfully never did that, and I appreciated working for them. If that 3rd trailer paid what it really was worth, companies wouldn't force them out into dangerous driving conditions. For every 2 sets of triples, they get 35,000 + lbs of high revenue LTL hauled for 10 cents per mile plus permits and slightly more fuel than a set of doubles takes. Do you see the potential for abuse here?
 

hangbelly

Active Member
So you are saying that your $10,000 investment would be over a 42 year period? You do of course realize that that comes up to like $4.58 per week invested for 42 years. And you are saying that $4.58 a week for 42 years would be worth $800,000.00?
I agree that your initial investment of $10,000.00 in 1980 would now be worth $800,000.00 and probably even higher. But, you will have to explain to me how $4.58 a week over 42 years will be worth $800,000.00. Remember to talk slow so this ‘ole simple minded Arkansan can understand it.
Not exactly. It would need to all be invested at once 42 yrs ago to get the benefit of compound interest over the 42 yr span, Dollar cost averaging $4.58 every payday over that span would not be worth that amount, I believe.
 

hangbelly

Active Member
I guess my point about the long post was that if you’re going to invest in an IRA for whatever your reason, a Roth IRA is a good choice because of no future tax on any dispersments.
Absolutely true.... Until the DC sewer rats realize the revenue they are losing and change the rules again.
 

Triplex

Experienced stalker
Not exactly. It would need to all be invested at once 42 yrs ago to get the benefit of compound interest over the 42 yr span, Dollar cost averaging $4.58 every payday over that span would not be worth that amount, I believe.
I'll put the numbers into a financial calculator when I get a chance and come up with the correct numbers and we'll see. Time value of money, a concept some don't quite grasp.

OK, by my calculations, $4.58 deposited weekly over 42 years at an interest rate of 14.8% will yield $800,000 at that time. Correct me if I am wrong.
 
Last edited:

Hookman

Just passing thru on my way home
Premium
All this talk about IRA’s, 401K’s, company match, compounding, etc., etc………
My financial advisor is Seabreeze. And he told me the best long term investment is a good BMJ plan also known as “Buried Mason Jars”. There are no taxes when you choose to withdraw regardless of age. And the money is always there. Especially if you did not map where you buried it at.
:lmao::lmao::lmao:
Plus you can put Shine in those jars for your sipping pleasure if you do find some of them.:biglaugh:
 

Steward of the Rock

Well-Known Member
I'll put the numbers into a financial calculator when I get a chance and come up with the correct numbers and we'll see. Time value of money, a concept some don't quite grasp.

OK, by my calculations, $4.58 deposited weekly over 42 years at an interest rate of 14.8% will yield $800,000 at that time. Correct me if I am wrong.
I wonder how many years if any, was the interest rate actually that high or higher after 1980?
 

Hookman

Just passing thru on my way home
Premium
I'll put the numbers into a financial calculator when I get a chance and come up with the correct numbers and we'll see. Time value of money, a concept some don't quite grasp.

OK, by my calculations, $4.58 deposited weekly over 42 years at an interest rate of 14.8% will yield $800,000 at that time. Correct me if I am wrong.
I wonder how many years if any, was the interest rate actually that high or higher after 1980?
:idunno:Blade will be by soon so both of us will know SOR.
 

Razorblade

Well-Known Member
As usual, your anti -labor theory goes straight into the crapper when it comes down to fair compensation for that 3rd trailer, and it borders on criminal abuse because it is such a fantastic deal for the companies. I lived through the nightmare of forcing triples into inclement weather with threats and intimidation against drivers that tried to comply with the permit restrictions regarding weather. ABF, thankfully never did that, and I appreciated working for them. If that 3rd trailer paid what it really was worth, companies wouldn't force them out into dangerous driving conditions. For every 2 sets of triples, they get 35,000 + lbs of high revenue LTL hauled for 10 cents per mile plus permits and slightly more fuel than a set of doubles takes. Do you see the potential for abuse here?
Wow, I guess the next contract should force companies to go back to straight trucks.
You cannot blame poor management for all the problems and then complain when management manages resources to improve efficiency.
 

hangbelly

Active Member
Wow, I guess the next contract should force companies to go back to straight trucks.
You cannot blame poor management for all the problems and then complain when management manages resources to improve efficiency.
what the hell are you talking about! didn't you read my post at all? Obviously you have no clue.... When companies use intimidation and firing drivers for refusing to pull triples in violation of the law, then Houston, we have a problem! And yes they did. even union companies like Garrett/ANR did that. They knew you would get your job back at grievance, but they refused back pay and benefits, so you got a 30 day unpaid vacation for obeying the law. NOW do you get it! I did things with triples back in the 1980s in the winter that defied the laws of physics, God and man to keep my family fed, because I watched what happened to others who stood their ground. And I was good enough to get away with it, but my ass was damn sure in the wind. I could tell you stories.... but I'm sure they would be wasted on you....
 
Last edited:

hangbelly

Active Member
And for those like RB that might say" what the hell....?" remember that without a 3rd party like a police officer to certify that the road conditions were as you say they were, well, it is just your word against the company. Good luck with that.... I actually got a Malheur county sheriff out on US 95 coming in from Reno to do that for me on my daughter's 10th birthday 2/10/ 85. I was trying to get home for her birthday party, and Garrett refused to let me drop a 3rd trailer, so I went to war with them. And a choir of angels were singing when I laid the permit violation ticket on the TMs desk the next day. It took them 3 days to pick that trailer up in Jordan Valley Oregon when it finally quit snowing. Tommy Thompson at TNT wrecker service did our recovery work back then and he finally called Jack Wensky, the TM and said " Jack, I've been running back and forth here for 3 days working wrecks, and I've noticed you have a trailer sitting here in Jordan Valley that is plowed in and probably can't be picked up by your trucks now. I could use the weight coming home, do you want me to hook onto it and bring it in?" Wensky reportedly meekly said "Yeah Thanks Tommy" And 10,000 lbs of LTL finally got delivered..... Oh, and yes I did get home to have birthday cake with her about 8pm that night.
 
Last edited:

hangbelly

Active Member
This really needs to be explained a little more so RB can understand how the intimidation from his beloved and blameless, and victimized by lazy union thugs, company management teams worked so well. Garrett was very clever at this. If you did what you were supposed to do and called in to get permission to drop because of road conditions, their response was "Central says you cannot drop, proceed with caution" to which you disgustingly say " what the hell do they think I have been doing for the last hour to get to, this phone?" again, "Procced with caution, sir" leaving the monkey on your back. They didn't fire everyone, by the way, They weren't completely heartless SOBs. They usually picked a couple of senior drivers early in the winter every year in Pocatello who could best afford the unpaid vacation since they had no young families at home to feed, and then just let the intimidation of everyone else work it's magic. Those old salts just dropped and went on without calling in. so they had no way to prove the conditions beforehand. Garrett didn't want to lose them, just make an example out of them to goad everyone else into sticking out their necks for them. BTW, permit violations were monitored by the issuing states, and they allowed 3 violations per month before they suspended the permits for 30 days, Repeat violations resulted in increased suspension time frames, and Garrett guarded their permits jealously, You knew they were close if they didn't argue when you called in. That's why I was so pleased to present Wensky with his ticket. I chained triples and spun them out to a complete stop twice chained up on a 2 lane highway to earn the right to lay that damn ticket on his desk.
 
Last edited:

hangbelly

Active Member
Might be a great idea to have the union hire a hacker to find out exactly how much the LTL Teamster has been ripped off since legalizing doubles and 102's and 53's in the 80's and 90's.......
And oppose vehemently going to triples or other special permit equipment that requires the driver to assume additional responsibility for operating under adverse weather conditions. If you are operating these in violation of the law and have an accident and someone is killed or injured regardless of the circumstances, it is on YOU! You will be held criminally and financially responsible as well as the company for what happened, regardless. My experience has been as posted below that some companies will abuse this and coerce and intimidate the driver into unsafe operation because the use of that equipment is very lucrative for them. And then there are the cowboys that want the attaboys, and make life miserable for everyone else. " Joe got through with his, why couldn't you?" Not only that, but you can drive into developing adverse weather and get into trouble before you can locate a safe haven to drop a trailer. I have hated triples virtually all of my career because of this, as well as the work opportunities it takes away seasonally when they begin running triples again. They will never pay drivers fairly for pulling this equipment. 5 cents a mile for that 3rd trailer is an outrage and has been since they first started using them in the northwest. I asked Jim Roberts who was on the western regional conference negotiating committee in Orlando at the convention in 1992 why we can't get more money for triples, and he replied that they just smile and say, " there's only so much money in the pot. divide it up anyway you chose" And the big eastern regions have all the power at the table. And it is not just road conditions, heavy violation fog is a major restriction as well. How many times in a trip do you encounter heavy fog? Fog was my main concern with triples. getting hit from behind,,, I had no control over that with triples..
 
Last edited:

hangbelly

Active Member
Not completely accurate there Blade. There are 401K’s out there that do not get any kind of match from an employer. For example, the Teamsters have a 401K for it‘s members, but to my knowledge they match nothing. So what you contribute and what you earn over time is what you get. Nothing else. Unless something has changed that I am unaware of. If it has changed, please inform us about it.
They can not match at all. It would be a contract violation to do so.
 

slavenomore

US Gov Hears Foreign Corps More Than Nonunions
Premium
And oppose vehemently going to triples or other special permit equipment that requires the driver to assume additional responsibility for operating under adverse weather conditions. If you are operating these in violation of the law and have an accident and someone is killed or injured regardless of the circumstances, it is on YOU! You will be held criminally and financially responsible as well as the company for what happened, regardless. My experience has been as posted below that some companies will abuse this and coerce and intimidate the driver into unsafe operation because the use of that equipment is very lucrative for them. And then there are the cowboys that want the attaboys, and make life miserable for everyone else. " Joe got through with his, why couldn't you?" Not only that, but you can drive into developing adverse weather and get into trouble before you can locate a safe haven to drop a trailer. I have hated triples virtually all of my career because of this, as well as the work opportunities it takes away seasonally when they begin running triples again. They will never pay drivers fairly for pulling this equipment. 5 cents a mile for that 3rd trailer is an outrage and has been since they first started using them in the northwest. I asked Jim Roberts who was on the western regional conference negotiating committee in Orlando at the convention in 1992 why we can't get more money for triples, and he replied that they just smile and say, " there's only so much money in the pot. divide it up anyway you chose" And the big eastern regions have all the power at the table. And it is not just road conditions, heavy violation fog is a major restriction as well. How many times in a trip do you encounter heavy fog? Fog was my main concern with triples. getting hit from behind,,, I had no control over that with triples..
It's good to hear agreement.
Guys have become so numb to hauling all the extra freight at no benefit to them because it became the only way it's done.
All that freight yet no extra money and actual cuts and bankruptcies. Ridiculous ******** lies.
A dollar a mile for 1 trailer...and they get away with a nickel for a 3rd...and you haul it for that.
If there's no money in the pot......when I need.....nobody gives it to me.
Yet a negotiator says you must.
Screwey world.
 

Big Dave

Ultra Maga. Ultra American
All this talk about IRA’s, 401K’s, company match, compounding, etc., etc………
My financial advisor is Seabreeze. And he told me the best long term investment is a good BMJ plan also known as “Buried Mason Jars”. There are no taxes when you choose to withdraw regardless of age. And the money is always there. Especially if you did not map where you buried it at.
:lmao::lmao::lmao:
But I heard disbursements from BMJ plans are taxed as high as bonuses……………
Triplex>:regretful:
 

Razorblade

Well-Known Member
It's good to hear agreement.
Guys have become so numb to hauling all the extra freight at no benefit to them because it became the only way it's done.
All that freight yet no extra money and actual cuts and bankruptcies. Ridiculous ******** lies.
A dollar a mile for 1 trailer...and they get away with a nickel for a 3rd...and you haul it for that.
If there's no money in the pot......when I need.....nobody gives it to me.
Yet a negotiator says you must.
Screwey world.
The back end follows the front end. The third trailer just "trails" along. No more effort or talent required. Take the nickel.
 
Top
AdBlock Detected

We get it, advertisements are annoying!

But we have to pay the server bill every month. 

Please disable your AdBlocker.

For Advertisement Free Viewing,Login and select "Account Upgrades" by clicking on your name at the top right of the page.

 

I've Disabled AdBlock