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Financial Habits For LONG TERM Success With UBER & LYFT
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Күн бұрынWhat Should Uber and Lyft Drivers In Minneapolis do right now?
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@lifewithnickyd Ай бұрын
Great advice
@nsw_27 4 ай бұрын
What kind of messes are people making in your cars? You mean, vomit and soiling themselves? I have not done nighttime driving since I left Austin and moved to San Antonio Texas. They can be very sloppy here and I don’t know if I could live with my car if someone ever paid or vomited in it. Six years as a driver and zero incidents so far. 😮💨
@TesluthianTesluthian 4 ай бұрын
💯 Tristan, you are right on. Roth or Regular Solo 401k is way to go, one of the few paths to get you to Retirement Nirvana💰. However, if under the income limits,you can also start a personal Roth IRA while your income and taxes are lower. This allows savings $6-$7k a year. AND, with Roth IRA, you can take out CONTRIBUTIONS, (not profits or interests etc), penalty free before retirement age. You can’t do this with a regular, traditional IRA. In effect this serves as another extra, extra emergency fund. When you hit the income limits, you can switch to a Solo 401k. *Not financial advice, talk to a financial advisor and do your own due diligence.
@freelanxe 4 ай бұрын
The only thing I’ll disagree with is the depreciation factor of cars. In my market I’m seeing 10-20% depreciation on a 2-3 year old car. Which some people might choose new if it’s not depreciated by much
@dave3uz74 3 ай бұрын
what is your opinion on the uber/lyft rental program?
@DJKAUSION 4 ай бұрын
for those with SUV'S.. for big events ,concerts, etc, do you switch to XL rides only to make more money or do you keep all rides on for big events??
@dabiri69 3 ай бұрын
Buying a new $60K car is not the same as buying a new $25K car. The Prius has gotten more expensive with the new design. The Corolla hybrid is a much better option. I got a new top of the line Corolla hybrid for $29.5K out the door. You could get a lower trim model for less than that.
@FutureRideshareMillionaire 3 ай бұрын
I don't think buying new cars is a wise decision at all, especially for rideshare and especially using debt. You could have bought a 3-5 year old used car and saved $10-$15000.
@dabiri69 3 ай бұрын
@@FutureRideshareMillionaire every car has a limited lifespan. In a new car you will spend 100% of it with it. That might be a lot less with a used car. You’ll save a lot of money up front but will need to replace the car a lot sooner. There’s also the factor that you just don’t know how well or poorly the previous owner took care of it. Depreciation is a non issue because the point is to keep the car until the wheels fall off.
@FutureRideshareMillionaire 3 ай бұрын
@@dabiri69 I would have to go through 3 used Prius for $10k just to break even on what you spent on a brand new car. Majority of a cars depreciation happens in the first 3 years. You sacrificed money for convenience. My used Jetta has made me over $100k in 3 years and I paid $13,000 for it. It's now paid off. I have no car payment and it makes me more financially secure than having a car payment in a rideshare market that's paying less and less every single day. I wouldn't trade that for a brand new car and a car payment.
@dabiri69 3 ай бұрын
@@FutureRideshareMillionaire a Prius for $10K is most likely going to have 200k plus miles. You’re gonna go through them fairly quick, spending a lot of time on looking for the next one. You just have to strategize. You also don’t want to make the minimum monthly payment. I paid off my car in 15 months when it should have taken 72 months. Saved a ton on interest in the long run and I’m not worried about depreciation because I’m keeping it until it dies. Best part is it only has 47k miles.
@FutureRideshareMillionaire 3 ай бұрын
I see one for $11k and 85k miles.
@delaniehumphries9415 4 ай бұрын
I'm looking at a 2014 Subaru Legacy my only question is how long would I be able to use it before it's to old for uber
@freelanxe 4 ай бұрын
It’s already too old lol
@bossbrent 4 ай бұрын
@@freelanxenot even close... 15 years here in Georgia and most other southern states
@freelanxe 4 ай бұрын
@@bossbrent ahhh I’m up north in Michigan, we only get 10!
@timetowakeup6302 4 ай бұрын
If you want to be a successful long-term rideshare driver, stop doing ALL of your rides on the apps. Use them when it’s to your advantage only. Pretty simple. Any other advice is garbage. Get your ducks in a row. Otherwise These apps will leave over 90% of drivers desperate and broke. That’s what they are designed for.
@davidlee1467 3 ай бұрын
With these two criminal companies, there is no long term success😂, unless you’re a retiree
@huntermcknight2667 4 ай бұрын
670 is the sign on bonus for 140 rides within 30 days. Florida ,tampa bay area.. i knew this was too good to be true😮💨 this leads me to believe everything is 3 x worse than what He's saying.
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