Passive Income for Truck Drivers

Are you a truck driver looking for some way to supplement your income? Or maybe you have another day job, and you’re considering truck driving as a part-time side hustle. Regardless of your situation, you are no different than many in today’s world. Inflation has hit us all really hard, and living on just one income is not that easy. In this article, I am going to cover how to earn extra money as a truck driver.

Since you are reading this article, you probably fit into one of the following three categories…

• You are employed as a truck driver, and you want to earn some extra money outside of the trucking industry.
• You are employed as a truck driver, and you want to somehow earn extra money by trucking.
• You are not employed as a truck driver, and you want to earn extra money by trucking somehow.

I am going to cover these three scenarios in this article. Hopefully, one of the ideas will suit you.

Many “ways to make extra money” involve trading your time for money – such as a second job or side hustle. However, there are also ways to make money that don’t involve trading your precious time! This is what is known as “passive income” and passive income is the main focus of this blog.

Passive Income for Truck Drivers

There are many ways truck drivers can make passive income. I’ll quickly highlight a few of them here before moving on to the ‘extra work’ ideas. It’s important to remember… most passive income ideas require you to invest some time or money up front to create a passive income stream.

Passive Income Ideas for Truck Drivers

The first two ideas require a significant money investment if you want to make any significant passive income. The next two ideas require a little investment of time to set up, and then the passive income is mostly automatic month after month. The last idea requires a significant time investment – ​​but has the most potential for big monthly payouts.

Investing in dividend stocks

Arguably one of the easiest passive income streams you can make is investing in the stock market.

For a very small amount of money, you can buy shares in a company that pays dividends – and then sit back and wait for the profits!

The more money you can invest, the more shares you can buy, which equates to higher dividend payouts.

Click here to read more about dividend stock investing

Invest in hands-off real estate

If you want to get in on the rental property action but fear that your job as a truck driver will limit your time, a real estate investment trust (REIT) may be the answer for you. Crowdfunded real estate is another popular way to invest in real estate the easy way.

A REIT is a very affordable way for everyday people (like you and me) to be able to tap into the vast wealth of the property market. Investing in a REIT is very similar to investing in the stock market.

Another exciting way to invest in real estate ‘hands-off’ is the crowdfunding approach. Fundrise is a leading online platform in the crowdfunding real estate space. Unlike most private real estate investments, their low minimums give you the flexibility to invest the right amount at the right time to meet your goals.

Rent your storage space

The self-storage industry is huge. In the United States alone, the average annual revenue of the self-storage industry is a staggering $39.5 billion! If you have some spare space (garage, basement, attic, closet, shed, barn, etc.) why not consider renting it out for some easy monthly passive income?

For more ideas and to see what kind of rates you can get where you live, read on. Read and use your extra space.

Cashback card

Earning cash back on your regular spending is an easy and guaranteed way to generate passive income. If you haven’t already done so, this should arguably be the first strategy you employ.

Start a blog

If you have some time on your hands, you can build yourself an asset that will generate passive income for years to come. Be careful, though – it will take a lot Advance time and energy.

Learning the basics of starting your own blog is not difficult. The hard part is being persistent in creating content and then finding ways to generate traffic through SEO or social media marketing. However, once you spend a few years working hard, the ongoing effort decreases while the income increases.

If you’ve seen our list of the 27 best passive income ideas (including the ideas mentioned above) and you don’t think this passive income thing is for you… then you might be better off trading your time for money. This means getting an extra job on the side, sometimes known as a “side hustle.”

In today’s world, it’s easier than ever to find ways to make extra money—as long as you’re willing to trade your time for that money. Trading time for money isn’t always a bad thing. One way to look at it… the more time you spend working (making money), the less time you have to be out destroyer Spend your hard earned money!

Another factor to consider is the nature of your truck driving job. Are you an over-the-road truck or local truck driver who comes home every night?

Side Job Income for Over-the-Road Truckers

Over-the-road truckers may need to consider unconventional part-time jobs to earn extra income. Here’s something Online side work It might be perfect for an over-the-road truck driver…

• transcriber
• Content Writer / Freelance Writer
• Proofreader/Freelance Editor
• Website Checker
• Photo editor

Side job income for local truckers

For local truck drivers who work a more “normal” schedule, the potential to earn extra income is limitless! This type of truck driver can find any type of part-time job, whether it’s in retail (a sales clerk), in a factory or warehouse, as a delivery driver, in the service industry, or anything in between! Here are just a few ideas from the endless possibilities…

• Cashier at any local store on nights/weekends
• Restaurant jobs (wait staff, cooks, dishwashers, etc.)
• Load/unload trucks (UPS, FedEx, Amazon)
• Gig Economy Workers (DoorDash, GrubHub, InstaCart, Uber, Lyft, etc.)
• Lawn/Landscaping (cut grass, rake leaves, shovel or plow snow, etc.)

If passive income doesn’t sound like a good fit for you and you can’t see yourself doing something else outside of the trucking industry… well, luckily, there are options for you too!

Again, your options may be limited depending on what type of truck driver you are. However, there are always ways to make extra money.

If you’re stuck in the cab of your truck during your “off” hours, finding ways to make extra money can be a little more challenging. Here are some ideas…

• Lump Freight – Have you seen how much your company pays those lumper services? See what they will give you to lump your load instead! You can also offer your service to other drivers who don’t want to lump their own cargo.
• Take loads with multiple stops – Loads with multiple stops tend to overpay. Ask your shipper to run more LTL (less than one truckload) with multiple stops Make sure it pays accordingly in advance.
• Sell ​​Supplies or Services at Truck Stops – Buy and sell trucker supplies (gloves, tools, electronics, etc.) for profit. If you are mechanically inclined, you can do small truck maintenance gigs.

If your time is limited during your trucking day job and you want to earn more as a trucker, there are options for you as well. There are several side hustles with a CDL that you can consider…

• Package Delivery – Never hurts to check with some of the big dogs to see if they need help on a part-time basis (UPS, FedEx, Amazon).
• Local Work for an OTR Trucking Company – You may be surprised to see the part-time local driver requirements for some over-the-road trucking companies. They may need a trailer to meet or pick up from a local business, or they may need delivery at night or on weekends during specific appointment times.
• Regional Weekend Runs – Again, if you have weekends off as a local trucker (like I do), some OTR companies may have weekend runs that you can pick up. Not only will you make some extra money, but it can be fun to take a weekend road trip in a big rig!
• Dock Work – Other local trucking companies may have early morning or late afternoon dock work availability. Contact the major LTL companies in your area and see if the schedule works around you.

If you are already a truck driver, I hope the above tips and advice are enough to get you on the right track to increase your income.

Maybe you’re not currently a truck driver, but the industry interests you and you want to learn more by getting some experience and exposure to the trucking profession. What better way than to get a part-time job somewhere in the trucking industry?!

If you want to get a driving job, you’ll probably need to get your commercial driver’s license (CDL) first. Check with your state for requirements and how to get started. Many trucking companies will even pay for your training in exchange for your agreement to continue working for them for a certain period of time.

Another way to get your foot in the door of a trucking company (as they say) is to get one of the many other jobs at the company. Freight handlers (dock workers) are always needed at local LTL companies. Clerical staff are also essential for things like billing and customer service.