I live in Scotland UK. TRAINING TO Become a trucker. Good and rich contents. You guys are the best, I repeat the Best on utube. Deeply appreciate Yr job. God bless.
Could you make a video further going into the idea of getting into rental properties? This information isn't really available anywhere in general. How does purchasing/owning rental properties tie in with the information given in the "Getting Rich in trucking, Building Wealth, Corporations, Paying yourself properly and Legally" video? What's the best way to set up rental passive income as on owner operator? What are advisable paths to take when looking to purchase a property? Should it be done using corporation accounts or what's the best way to start this path? A video like this would be extremely useful.
Thanks for the content Ronen. I have a couple of thoughts to throw out there. First, on how much should you withdraw for your salary. In Canada we can contribute to the Canada Pension Plan (CPP). The maximum income for 2022 CPP contributions is $64,900 or about $1,250/week. In 2022 the maximum CPP benefit is about $15,000 for someone aged 65. So an annual salary of $65,000 is a potential minimum Owner Operators might consider regardless of lifestyle needs. Second, the use of the term "Passive Income" makes sense as you presented it, but it may be taxed differently to the corporation depending on how the government considers it. Owning a second or third truck would be active income to the corporation and the money left in the company would be taxed at around 12%. Income from passive income could be taxed at around 50% depending on the source.
Well explained Sir. Passive income is one of, if not, the best way of accelerating wealth creation. Also, saving is never enough if it is not being compounded. Saving will never make one rich; investing strategically will do!
Yeah,.., this just rent out your top floor on your basement is definitely a Canadian way of living! Had some of my family did that. In US that would be illegal
Constructive thought to consider: If trucking industry goes downhill, you could lose your paycheck and your investment at the same time if you invest in trucking stocks. Why not invest in an index ETF to diversify? For instance SPY to capture big US companies and EWC to capture big Canadian companies? You would still own shares of trucking cos but also so much more!
Thank you Ronen, I am amazed for all free ideas and info You are giving it away to our community, thanks to all ET team. I believe, You are giving us a confidence and a big help ! Thank you!
Nice video and great information at a high level. However, if you are going to promote borrowing against your stock portfolio, I think you should point out the risk in doing so if the stock moves the wrong way. Not only are you losing the value of your investment, but you may get a margin call requiring you to make a deposit in order to make up for the loss. In addition, if you have to sell other stocks in order to raise cash to meet the margin call, you may be looking at a lodge tax bill. All things in moderation, ESPECIALLY when it comes to margin debt.
Hey Ronan awesome info as per usual. I’ve subscribed and have watched probably 15 of these videos in one day. I have 2 quick questions: 1) How do you capture the data for your trucks so succinctly? Do you use fleet management software? If not, would you be open to sharing your setup? 2) Do you have a fleet management or owner operator mentorship program? Can you be contacted via email? Thanks for the awesome content!
I dont buy n hold but I been trading 6 yrs and have other business which I have to be there but still take 2 mos off from driving and still pay my bills .
Watch the video Ronen did "Who Owns The Trucking Industry" and it shows what companies to invest in; they have yet to lose me money over the last 10 years.
This is a very misleading video, what ronen is not telling u is that properties and stocks are at an all time high and it’s very risky to invest right now, he’s also wrong about the trucking industry having another 18 months of record breaking boom, the boom is over after the holidays and 2022 will most likely be a terrible year not only for trucking but in every industry
Compound interest is the eighth wonder of the world. He who understands it, earns it.. he who doesn't..pays it. - Albert Einstein The Times 03/Jan/2009 Chancellor on brink of second bailout for banks. - Satoshi Nakamoto 🤔
U made 7 k ??? LOL . I been investigating for 8 years since i was 18 and we say YOU DIDNT MAKE ANYTHING UNTILL YOU SELL IT AND HAVE THAT MONEY IN CASH . Any bad news , market crash or just major sell off can make any of that go away .
Hi mate 👋👏👏 great vedeo and good explanation 👍 👏 my opinion about my planes I never ever I had idea in made any RUclips channel or showing anything I used a couple cameras on my truck just only for my testimony in case if we need some proves 🤔 I tried making a great work for the company I working and they satisfied with my job 👏👌👍 of course I would like to driving my self truck again but not here in fucking Europe 😡 anyway I enjoying listening your vedeo 👏👏 cheers from North of Norway 👋👋
Stocks in a 'crack up boom' are dangerous. You need to look at the assets of a company if the market cap is more than the real assets are worth then the stock is overpriced and in a 'bubble'. It will top out and pop, those leveraged on a 'margin' will get a 'margin call'. Will have to put more money in or sell. The market will crash. The whole stock market is in a bubble (generally). I'd stay clear if you don't know what you're doing. Or use an investment manager. Cryptos are a good bet if you like gambling. A cyber attack that we getting warned about will wipe out your cyptos and stocks. I've bought gold and silver coins with my spare cash getting ready for the storm.
You are helping a lot of new people into the industry… I appreciate it.. thank you so much.. helps a lot to understand
I live in Scotland UK. TRAINING TO Become a trucker. Good and rich contents. You guys are the best, I repeat the Best on utube. Deeply appreciate Yr job. God bless.
Thank u much appreciated
Could you make a video further going into the idea of getting into rental properties? This information isn't really available anywhere in general. How does purchasing/owning rental properties tie in with the information given in the "Getting Rich in trucking, Building Wealth, Corporations, Paying yourself properly and Legally" video? What's the best way to set up rental passive income as on owner operator? What are advisable paths to take when looking to purchase a property? Should it be done using corporation accounts or what's the best way to start this path? A video like this would be extremely useful.
Love your ideas... I am already doing 2 of those but not on large scale. Your video has motivated me to do this with more determination
Thanks Ronen
Glad we can help!
Your the man RONEN👍🏻. We appreciate all this great information, keep up the good work and keep them videos coming.,
This Chanel is amazing 🙏 I watch every single video.
You should teach finances on the side. Very informative information which should be common knowledge!
Glad you enjoyed the video!
Thanks for the content Ronen. I have a couple of thoughts to throw out there. First, on how much should you withdraw for your salary. In Canada we can contribute to the Canada Pension Plan (CPP). The maximum income for 2022 CPP contributions is $64,900 or about $1,250/week. In 2022 the maximum CPP benefit is about $15,000 for someone aged 65. So an annual salary of $65,000 is a potential minimum Owner Operators might consider regardless of lifestyle needs.
Second, the use of the term "Passive Income" makes sense as you presented it, but it may be taxed differently to the corporation depending on how the government considers it. Owning a second or third truck would be active income to the corporation and the money left in the company would be taxed at around 12%. Income from passive income could be taxed at around 50% depending on the source.
For the stocks you can use a TFSA. It has a limit of $6.5K a year though, but is a good way to start building wealth there
Thanks man really appreciate the video, you are a great guy
Thanks for making videos even though it’s putting you in the hole at the time this was filmed. They are very informative!!!
Thank you for watching and supporting our channel!
Well explained Sir. Passive income is one of, if not, the best way of accelerating wealth creation. Also, saving is never enough if it is not being compounded. Saving will never make one rich; investing strategically will do!
Absolutely agree with you! Thanks for sharing 😊
Yeah,.., this just rent out your top floor on your basement is definitely a Canadian way of living! Had some of my family did that. In US that would be illegal
Constructive thought to consider: If trucking industry goes downhill, you could lose your paycheck and your investment at the same time if you invest in trucking stocks. Why not invest in an index ETF to diversify? For instance SPY to capture big US companies and EWC to capture big Canadian companies? You would still own shares of trucking cos but also so much more!
Thank you for all you do!
Good one bro. Your videos are the best on RUclips.
Thank u for the positive feedback
Appreciate the comments
Thank you Ronen, I am amazed for all free ideas and info You are giving it away to our community, thanks to all ET team. I believe, You are giving us a confidence and a big help ! Thank you!
Thank you for your feedback! Glad we can help 😊
GOOD INFORMATION
THANKS FOR LOOKING OUT FOR TRUCK DRIVERS
Thank you brother for your time and information
When will the next part of this video come out? excited to see trucking as passive income
Hopefully end of next week
Nice video and great information at a high level. However, if you are going to promote borrowing against your stock portfolio, I think you should point out the risk in doing so if the stock moves the wrong way. Not only are you losing the value of your investment, but you may get a margin call requiring you to make a deposit in order to make up for the loss. In addition, if you have to sell other stocks in order to raise cash to meet the margin call, you may be looking at a lodge tax bill. All things in moderation, ESPECIALLY when it comes to margin debt.
Ronen, you are the man!
Aagghh, what a tease! I’ll be waiting to see the numbers on owning a 2nd or 3rd truck
Stay tuned!!
@@NorthAmerican-Trucking-News Still waiting
Hey Ronan awesome info as per usual. I’ve subscribed and have watched probably 15 of these videos in one day. I have 2 quick questions:
1) How do you capture the data for your trucks so succinctly? Do you use fleet management software? If not, would you be open to sharing your setup?
2) Do you have a fleet management or owner operator mentorship program? Can you be contacted via email?
Thanks for the awesome content!
Email me
Sponsorship@ettransport.ca
@@NorthAmerican-Trucking-News Thanks for responding. I’ve sent you an email!
Lack of competition in rural areas? Wow, your in for an eye opener !
Great info
Hey have you made the video about having two trucks?
I dont buy n hold but I been trading 6 yrs and have other business which I have to be there but still take 2 mos off from driving and still pay my bills .
Great job on providing alternative ways for hard working truckers to make money passively. 👍
Smh 🤦🏻♂️
Watch the video Ronen did "Who Owns The Trucking Industry" and it shows what companies to invest in; they have yet to lose me money over the last 10 years.
Thanks for spreading the word John! We appreciate your support!
Ronan, why did you go with freaghtliner over Volvo for your preferred trucks?
Ronen!!! Wise dude...
Thanks Omehe!
Stull waiting on the pay statement en ROI for trucking paasive income video. Can someone post the link 👀
This is a very misleading video, what ronen is not telling u is that properties and stocks are at an all time high and it’s very risky to invest right now, he’s also wrong about the trucking industry having another 18 months of record breaking boom, the boom is over after the holidays and 2022 will most likely be a terrible year not only for trucking but in every industry
Compound interest is the eighth wonder of the world. He who understands it, earns it.. he who doesn't..pays it.
- Albert Einstein
The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.
- Satoshi Nakamoto
🤔
What online investing company’s do you recommend for stocks?
Fidelity, E*Trade, Webull, there are more out there
Here's a comment as payment for watching the video
You are not allowed to rent a basement in New York
Thank you Sir. Ronen for the information.👏🏼👏🏼👏🏼👏🏼
Anytime! Glad we can help!
U made 7 k ??? LOL . I been investigating for 8 years since i was 18 and we say YOU DIDNT MAKE ANYTHING UNTILL YOU SELL IT AND HAVE THAT MONEY IN CASH . Any bad news , market crash or just major sell off can make any of that go away .
You can make money via dividends that’s earning
Thank you Ronen, your videos are so help full to plan my future. I feel your videos are having fully stuffed content.
Glad we can help! Thanks for supporting our channel!
It’s RONEN! Not Ronan. Take note guys 😀. Amazing content!!! Keep them coming.
Or “Rolan” Too many different ways to spell Ronen’s name incorrectly 😂 Glad you enjoyed the content!
@@NorthAmerican-Trucking-News Rolan is funny 😅😅. I’ve been called different things so I just shortened my name.
Hi mate 👋👏👏 great vedeo and good explanation 👍 👏 my opinion about my planes I never ever I had idea in made any RUclips channel or showing anything I used a couple cameras on my truck just only for my testimony in case if we need some proves 🤔 I tried making a great work for the company I working and they satisfied with my job 👏👌👍 of course I would like to driving my self truck again but not here in fucking Europe 😡 anyway I enjoying listening your vedeo 👏👏 cheers from North of Norway 👋👋
Stocks in a 'crack up boom' are dangerous. You need to look at the assets of a company if the market cap is more than the real assets are worth then the stock is overpriced and in a 'bubble'. It will top out and pop, those leveraged on a 'margin' will get a 'margin call'. Will have to put more money in or sell. The market will crash. The whole stock market is in a bubble (generally). I'd stay clear if you don't know what you're doing. Or use an investment manager. Cryptos are a good bet if you like gambling. A cyber attack that we getting warned about will wipe out your cyptos and stocks. I've bought gold and silver coins with my spare cash getting ready for the storm.
Dude Nikola was a giant scam. You really shouldn't be advertising it
Passive income is almost a myth.
Be careful about NIKOLA, they're scammers...
Dividend Stocks........💰💰💰💰💰💰💰💰💰💰💰💰💰
My passive income is from cryptomining. $100/month profit currently and adding slowly.
all of this is BASIC ASS Info any grown man SHOULD know about allready...!!!! smh
nothing new here
This is a fk n joke is this serious it can’t be no way
Always providing great information
Thanks for your feedback. Glad you enjoy our content!