Why are you driving Uber and Lyft? Let us know 🎯 Track your expenses the right way! Drive smarter, not harder with Solo: therideshareguy.com/go/worksolo
As a Massachusetts driver this $32.50 per ACTIVE HOUR is all lies. I’m quitting driving uber because the uber math ain’t working. They are straight up robbing people of their money. And when I address uber about their scams and BOGUS calculations they hang up in my face on multiple occasions. They know they are scamming people and getting away with it. This guarantee earnings is BS. They having us pay for our own tolls. Even though one sheet shows we are getting refunded that money, but another doesn’t. This new fare breakdown is just Uber playing with numbers and the messed up part is they don’t tell you how they got these numbers. They give me sheets and data that say nothing about nothing. I can’t believe no one is speaking up on this!!! This is highway robbery but all these drivers care about nowadays is how much the trips cost, but not thinking about the false info that affects the money that should be added into their bank accounts that goes unchecked. We do our rides and we are content and we don’t follow up and ask what is guaranteed earnings really? How come this math is not mathing? How come I get paid 97% of the money for my trips but uber also gets 20%. Last time I checked a pie chart should add up to 100%. But no, they are doing this funny math and cheating us in the process. I don’t have time to be going back and forth with the Uber every day and I’m starting a REAL JOB in less than a couple weeks. I will commend Lyft as they at least make things make since and they at least think about us drivers. However they only lead to the same result of not giving us the money we are owed. I am still awaiting the adjustment pay they said they owe me in a email and had promised to pay me only to hear over the phone that this money is not owed me because I made over 70% on all my trips. All lies…meanwhile I’m waiting b for the lies to be exposed and that next settlement to come out. It’s only a matter of time at this point.
People the ride share business is dead it’s over it died 4 years ago 3$ dollar rides are you kidding me,the only way it’s profitable now is if you own the car outright and is a hybrid or electric and you do it part time or if you’re retired and have plenty of money and assets put away so you can keep yourself busy, that’s it find something else to do
Driving for rideshare often leads to financial struggles. You can end up in debt, with costs for tolls, gas, and maintenance piling up. After six years in the industry, I found that rideshare creates debt rather than helping you get out of it.
In my market, Vancouver, British Columbia, we cannot have a car older than 9 years, that is a Provincial government law, so a 2013 is out of the question. The oldest car I could buy for the coming year would be a 2016 but then I'd have to buy a new car for 2026 so that doesn't make sense.
I've watched the same $20.00 ride that I got for 10 years go down to the price of $7.89 yesterday. I'm stuck with a rental after my car was stolen. Kind of fucked here in San Francisco area.
Sorry to hear about your car. That really blows. Did you owe money on the vehicle? Did insurance take care of it? Lyft support has admitted that drivers who use rentals get paid less. I covered that in a previous video. I recommend figuring out how much it costs to get a cheap Prius, work like hell to save up the cash for it, and then get rid of your rental ASAP. Winter will be very rough, so you might have to get an additional source of income. Amazon can be a great seasonal job to get through the winter.
I'd sure love to become debt free! I'm having a tax problem now ($2,800 to IRS!), when I make too much on my driving, so I have to rein that in, before throwing it all into debt.
This year was the first time I had to pay money to the IRS. Since my wife works for the government, it's crucial that I pay my taxes on time; otherwise, she could lose her job. To ensure I had enough to cover what I owed, I started setting aside cash three months before filing my taxes. In my journey to become debt-free, I began by paying off my smallest debts first and then gradually worked my way up until only my student loans were left. As for car debt, I recommend paying that off first, as it's usually the largest payment and carries the most risk if something were to happen to you or the car. No matter which path you choose, know that I'm rooting for you!
Great interview these are the types of people who are winners in the rideshare game. I work a 32 hour job a week then I Uber/lyft anywhere from 30 to 35 hours a week then I still have a small business and a small side hustle. This guy you interviewed gets it, love when I hear winners mentalities on the show. Too many crybabies in this world let alone rideshare and as always appreciate you, Sergio 👍🏼
I actually created a spreadsheet that automatically tracks my taxes and deductions based on my mileage. If you want to see it in action, I have a video called "The Mileage Tracker that EXPOSES Uber AND Lyft". As drivers, the real money is made via the tax deductions.
Yea the best option drivers on these Gig app platforms is a cash vehicle that can endure high mileage of 300,000 hybrid else debt will eat you alive with all the pay decreases
For some perhaps but keep in mind that a car with 300K miles will incur much higher maintenance costs than a newer one. The true way to increasing rideshare profits exponentially is to drive Uber Premier, or Lyft Black. That would require an investment but it will also lead to a much better client base, who tip more, act better, and are easy conversions to private clients where the real money is.
@@normastits4179 I think that's okay if you're trying to do this in the long term so that the cost of the car can be justified overtime. If people are looking for a faster exit, I think a cheap car that gets the work done may be best depending on their goals. It really just comes down to what your goals are.
@@sergioSMTMC1 I was speaking to the gentleman whom you interviewed. Believe me, if I thought you were trying to be a guru, I wouldn't follow you on social media.
Margins are so thin you can try do do everything right and it is still questionable if it is profitable means this is a horrible business to be involved in. If you aren't clearly going up, then you are going down, there is no in between. Good luck and many blessings
I certainly don't have a problem with this person's story but. No one really needs a lesson on how to do rideshare. The bottom line is the real conversations are around how we get the Rideshare companies to pay what they used to pay if not more or what alternatives may be around the corner or how to best maximize our time. But no one needs all of these weird lessons about how to ride share and what car everybody can figure that out
Couldn’t disagree more. The difference between to top 10% earners in any given market vs the bottom 10% is massive. You wanna be in the Top 10%, right? Listening to those who are is wise.
I remember back when Tristan was driving the Volkwagen for Rideshare, and the video he posted about finally paying it off. That's a real shame to hear what happened earlier this year.
. . . Frivolous spend?? (he-he!) All I do is pay bills! (Oh-yeah!), Don't come to 'Vegas! It's overpriced for rents & homes and saturated with drivers! Umm . . . According to Lyft, here in Vegas, your car must be NEWER than 2014. So, plan on getting a new car to drive for both if you come here. Good luck! 🍀 and, thanks for your insights!
When I come to Vegas, I'll be debt free and my plan is to not be a rideshare driver at all. I do have a second car that's a 2018. It's paid off. Thanks for the heads-up though! I had no clue about that.
Not all bills are debts in my opinion. But if you want to use that perspective, then I'll say its better to have less bills/debts ! It makes it easier to escape rideshare.
I understand what you're saying, and I have a solution for you! There’s a formula to determine how much money you would need to invest in the S&P 500 to generate enough income to stop working altogether. This aligns with my plan, as being debt-free allows me to allocate more income towards investments. Here’s how it works: To cover your bills with S&P 500 investments, calculate your yearly expenses and add about 3% for inflation. For example, if your expenses are $50,000, you would need approximately $51,500 per year. Assuming a 4% withdrawal rate, you would need about $1,287,500 invested. If you invest $500 monthly with an average return of 10%, it could take around 24 years to reach that goal. Keep in mind that market returns can vary, so these figures are just estimates. It’s important to diversify your investments and seek advice from a financial advisor to create a personalized plan.
Why are you driving Uber and Lyft? Let us know
🎯 Track your expenses the right way! Drive smarter, not harder with Solo: therideshareguy.com/go/worksolo
As a Massachusetts driver this $32.50 per ACTIVE HOUR is all lies. I’m quitting driving uber because the uber math ain’t working. They are straight up robbing people of their money. And when I address uber about their scams and BOGUS calculations they hang up in my face on multiple occasions. They know they are scamming people and getting away with it. This guarantee earnings is BS. They having us pay for our own tolls. Even though one sheet shows we are getting refunded that money, but another doesn’t. This new fare breakdown is just Uber playing with numbers and the messed up part is they don’t tell you how they got these numbers. They give me sheets and data that say nothing about nothing. I can’t believe no one is speaking up on this!!! This is highway robbery but all these drivers care about nowadays is how much the trips cost, but not thinking about the false info that affects the money that should be added into their bank accounts that goes unchecked. We do our rides and we are content and we don’t follow up and ask what is guaranteed earnings really? How come this math is not mathing? How come I get paid 97% of the money for my trips but uber also gets 20%. Last time I checked a pie chart should add up to 100%. But no, they are doing this funny math and cheating us in the process. I don’t have time to be going back and forth with the Uber every day and I’m starting a REAL JOB in less than a couple weeks. I will commend Lyft as they at least make things make since and they at least think about us drivers. However they only lead to the same result of not giving us the money we are owed. I am still awaiting the adjustment pay they said they owe me in a email and had promised to pay me only to hear over the phone that this money is not owed me because I made over 70% on all my trips. All lies…meanwhile I’m waiting b for the lies to be exposed and that next settlement to come out. It’s only a matter of time at this point.
@@NathanielJackson-cp9cyHow is it all lies? sergio@therideshareguy.com
Rideshare can be a great opportunity if the pay is fair.
@@sergioSMTMC1 I am busy this weekend, but I will send you some details later when I am free.
People the ride share business is dead it’s over it died 4 years ago 3$ dollar rides are you kidding me,the only way it’s profitable now is if you own the car outright and is a hybrid or electric and you do it part time or if you’re retired and have plenty of money and assets put away so you can keep yourself busy, that’s it find something else to do
Agree
Driving for rideshare often leads to financial struggles. You can end up in debt, with costs for tolls, gas, and maintenance piling up. After six years in the industry, I found that rideshare creates debt rather than helping you get out of it.
Not necessarily
In my market, Vancouver, British Columbia, we cannot have a car older than 9 years, that is a Provincial government law, so a 2013 is out of the question. The oldest car I could buy for the coming year would be a 2016 but then I'd have to buy a new car for 2026 so that doesn't make sense.
Here from Tristan's channel. I never miss an episode.
Where can i find Tristan's Free Budget Tracker?
Congrats Tristan, great to hear your story.
Thanks!
I've watched the same $20.00 ride that I got for 10 years go down to the price of $7.89 yesterday. I'm stuck with a rental after my car was stolen. Kind of fucked here in San Francisco area.
Sorry to hear about your car. That really blows. Did you owe money on the vehicle? Did insurance take care of it?
Lyft support has admitted that drivers who use rentals get paid less. I covered that in a previous video. I recommend figuring out how much it costs to get a cheap Prius, work like hell to save up the cash for it, and then get rid of your rental ASAP.
Winter will be very rough, so you might have to get an additional source of income. Amazon can be a great seasonal job to get through the winter.
I'd sure love to become debt free!
I'm having a tax problem now ($2,800 to IRS!), when I make too much on my driving, so I have to rein that in, before throwing it all into debt.
This year was the first time I had to pay money to the IRS. Since my wife works for the government, it's crucial that I pay my taxes on time; otherwise, she could lose her job. To ensure I had enough to cover what I owed, I started setting aside cash three months before filing my taxes.
In my journey to become debt-free, I began by paying off my smallest debts first and then gradually worked my way up until only my student loans were left. As for car debt, I recommend paying that off first, as it's usually the largest payment and carries the most risk if something were to happen to you or the car.
No matter which path you choose, know that I'm rooting for you!
Great interview these are the types of people who are winners in the rideshare game. I work a 32 hour job a week then I Uber/lyft anywhere from 30 to 35 hours a week then I still have a small business and a small side hustle. This guy you interviewed gets it, love when I hear winners mentalities on the show. Too many crybabies in this world let alone rideshare and as always appreciate you, Sergio 👍🏼
Thanks 🙏
Chuck town.... going down there to work soon. And chs is the best market in SC
...
Thanks for the wise advice about debt clearance for Rideshare and Delivery with working these apps as a pivot
oh hi! lol Thank you
Taxes? Estimated taxes? Why do you avoid this, Sergio?
Let's have a little show on DOING taxes!
I actually created a spreadsheet that automatically tracks my taxes and deductions based on my mileage. If you want to see it in action, I have a video called "The Mileage Tracker that EXPOSES Uber AND Lyft".
As drivers, the real money is made via the tax deductions.
Let's do that
Yea the best option drivers on these Gig app platforms is a cash vehicle that can endure high mileage of 300,000 hybrid else debt will eat you alive with all the pay decreases
For some perhaps but keep in mind that a car with 300K miles will incur much higher maintenance costs than a newer one. The true way to increasing rideshare profits exponentially is to drive Uber Premier, or Lyft Black. That would require an investment but it will also lead to a much better client base, who tip more, act better, and are easy conversions to private clients where the real money is.
@@normastits4179 I think that's okay if you're trying to do this in the long term so that the cost of the car can be justified overtime. If people are looking for a faster exit, I think a cheap car that gets the work done may be best depending on their goals.
It really just comes down to what your goals are.
These people are milking us. Making money of us, the ride sharer, while pretending to be one of us
Move on chum, bye
My thing is I don't like gurus. We have too many on RUclips now.
I'm no guru, I get it done
@@sergioSMTMC1 I was speaking to the gentleman whom you interviewed. Believe me, if I thought you were trying to be a guru, I wouldn't follow you on social media.
@@damienwade7848 Thanks I appreciate it
Margins are so thin you can try do do everything right and it is still questionable if it is profitable means this is a horrible business to be involved in. If you aren't clearly going up, then you are going down, there is no in between. Good luck and many blessings
I certainly don't have a problem with this person's story but. No one really needs a lesson on how to do rideshare. The bottom line is the real conversations are around how we get the Rideshare companies to pay what they used to pay if not more or what alternatives may be around the corner or how to best maximize our time. But no one needs all of these weird lessons about how to ride share and what car everybody can figure that out
Couldn’t disagree more. The difference between to top 10% earners in any given market vs the bottom 10% is massive. You wanna be in the Top 10%, right? Listening to those who are is wise.
He clearly said the good paying days were when Rideshare set aside money for COVID
That’s my goal too
I hope you’re finding some success in working towards your goal with rideshare.
How has your progress been so far?
Great
Tristan.Sergio.RonnieSpee the Trinity!!
I make more money from private rides than doing Rideshare . That's sad. ....
What car he drives??
2013 Prius, it's in the interview, you didn't watch
I remember back when Tristan was driving the Volkwagen for Rideshare, and the video he posted about finally paying it off. That's a real shame to hear what happened earlier this year.
. . . Frivolous spend?? (he-he!) All I do is pay bills!
(Oh-yeah!), Don't come to 'Vegas! It's overpriced for rents & homes and saturated with drivers!
Umm . . . According to Lyft, here in Vegas, your car must be NEWER than 2014. So, plan on getting a new car to drive for both if you come here.
Good luck! 🍀 and, thanks for your insights!
When I come to Vegas, I'll be debt free and my plan is to not be a rideshare driver at all. I do have a second car that's a 2018. It's paid off. Thanks for the heads-up though! I had no clue about that.
👍
👍
4:18 because of these type of drivers, Uber and Lyft keep reducing our earnings.
You're never debt free. The next bill is days if not hours away
Not all bills are debts in my opinion. But if you want to use that perspective, then I'll say its better to have less bills/debts ! It makes it easier to escape rideshare.
Maybe start by asking what is debt and then see if bills are a form of debt, which if they are, then being Debt Free is a very short term euphoria.
Or another way to look at it, if you stopped making money altogether, would you still have no debt?
I understand what you're saying, and I have a solution for you!
There’s a formula to determine how much money you would need to invest in the S&P 500 to generate enough income to stop working altogether. This aligns with my plan, as being debt-free allows me to allocate more income towards investments. Here’s how it works:
To cover your bills with S&P 500 investments, calculate your yearly expenses and add about 3% for inflation. For example, if your expenses are $50,000, you would need approximately $51,500 per year. Assuming a 4% withdrawal rate, you would need about $1,287,500 invested.
If you invest $500 monthly with an average return of 10%, it could take around 24 years to reach that goal. Keep in mind that market returns can vary, so these figures are just estimates. It’s important to diversify your investments and seek advice from a financial advisor to create a personalized plan.
@@jamesl.1636bills are not debt but services
question is how much of an ant is triston, does he say the passengers name for them which is against the rules or does he enforce them
Just become an youtuber
Go ahead
Sergio you do not talk about the money enough and in detail
What are you smoking?
I cant stand Tristan
Bye bye
Y r u hating?
@@AmadouSy-e5k don't worry about trolls
He should file for bankruptcy and he will be a debt-free