Methods and apparatus for preloading a bearing are provided. These methods and apparatus include preload monitoring procedures and devices whereby a mechanic can accurately monitor and regulate the preload on a bearing or bearing assembly. Aspects of the invention may also be used to adjust the endplay on a bearing or a bearing assembly. The methods and apparatus allow the mechanic to apply and/or verify a preload on the bearing, for example, to apply and/or verify a preferred “3 thousandths” preload, as is desired in the industry. In one aspect, the preload on the bearing is transmitted through a housing having a fluid pressure that can be detected and monitored.