Originally Posted by
Timbo
Well, I would have had a lot more fun spending it on booze and hookers, no doubt!
Putting 4 kids through college after a 42% pay cut did a number on my Note/claim money, and being out on LTD (at 50%) for 9mo. from that little bug I picked up in Kuwait City sure didn't help my cash flow or DC plan contributions.
I wonder if some numbers guru could figure out how much money you'd need to have saved up and invested, and at what rate of return, to net you what the 60% of FAE did, on a per year basis.
I'm guessing investing 15%/yr. of our bankruptcy pay today isn't going to come close to what we expected when we were hired with a 60% FAE DB plan.
I suspect Tim most of us had kids to get through college. We were all about that age. When it looked like Delta was close to shutting down and I heard how low on cash we were my wife and I sat down for several hours coming up with a plan. First on the list was protect the kids college funds at all cost. Yes that meant huge sacrifices in other areas but that is how we set up the priorities.
As far as being out for 9 months at 50% pay new hires reading this should let it be a lesson! Take the DPMA when it is offered. I am friends with another pilot at Delta. A incredible person however she declined the DPMA as a new hire and is facing at least a year out sick.
Take the DPMA!