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In the 1890s, Germany was the first nation in the entire world to implement a social insurance program. Back in a time where if you were alive, you worked—Germany’s Chancellor, Otto von Bismarck, introduced this system in order to appeal to the German working class and combat the Socialist Party in Germany. Bismarck argued that, “Those who are disabled from work by age and invalidity have a well-grounded claim to care from the state.” By the end of the century, the retirement plan would be put into effect for citizens over 70 and later lowered to 65 years.
The thing is, Bismarck knew that the program would cost the government very little because the average worker rarely reached 65 years of age, and those who did reach it didn’t live much longer. In 1935, when the United States passed the Social Security Act of 1935, the average life expectancy in America was only 62 years.
It’s clear that the plan originally was to have people retire at 65 because not many surpassed that age to begin with. Today, with new technologies, medicines, and a better understanding of science, people are prolonging their lives and could still have 20 to 30 years left in them after retirement age. A job in truck driving could ease the transition and be the answer to bridge the gap between a career and retirement.
Retirement Doesn’t Pay for Itself
About 1 in 3 older workers have next to nothing in retirement savings. Americans are often told that retirement should be composed of Social Security, employee-sponsored plans, and private savings. This model no longer accurately reflects the reality of today. Living off of Social Security is possible, but 40% of older workers will experience downward mobility in retirement if they live primarily or entirely on Social Security.
Getting involved in truck driving is a great way to offset some costs that not only allows you to keep your hands off your savings but can even help rack up a few more dimes. Driving jobs have some of the highest starting incomes that only increase the longer you drive. At NTB, we just increased our pay for 2021.
Furthermore, the initial cost to start a new career in trucking is relatively low. When going through CDL training, there are resources such as financial aid and scholarships available to help keep expenses to a minimum. Plus, NTB offers a tuition reimbursement program that allows new drivers to receive $5,000 back that’s paid out to them in weekly increments within their first year. With a driver’s wage and new social security benefits, life after retirement doesn’t have to put you under pressure.
More Great Benefits
NTB offers many other great benefits that make the transition into retirement smooth. After six months of service, our 401(k) Retirement Program gives drivers a 10% match and employees are 100% vested at enrollment. This allows you to build up more savings before you’re really ready to retire. We offer full Life, Dental, Vision, and Medical insurance plans at affordable rates for employees and their families. Here, you and your family can be covered and cared for so you can keep living a long and healthy life.
There are a few misconceptions regarding drivers being on the road and never home. Since NTB routes are regional with 95% of our jobs being drop and hook, drivers are only out five days a week and home the same two days every week with a minimum of 48 consecutive hours guaranteed! More often than not, our drivers also never need to worry about loading and unloading the freight they move. This is a great way to keep a work and home life balance, especially when we also offer Paid Time Off of up to four weeks based on your length of employment. We have positions that give you home time every day if being out on the road isn’t your speed. NTB wants there to be a place for everybody. Feel free to check out our website to find additional information and talk with a recruiter.
If you haven’t thought about it before, definitely consider becoming a driver at NTB for your retirement. Not only is it a great way to attain more security in your retirement, but we offer benefits that will give you and your family a sense of relief. Truck driving will give you a newfound sense of purpose and structure to your day and allow you to see the Midwest in ways you haven’t seen before.
This Memorial Day, NTB wants to acknowledge and honor the men and women who have lost their lives during service in the U.S Military. We are greatly appreciative of their service and the many veterans who drive with us today. God Bless.