Next 10 years earnings for a career changer?
I am 36, married: kids age 3 and 7. I am at r-atp mins with a class date starting in November with a regional. I am trying to make sure I am making the right decision
I am preparing to leave a firefighter career where I am pretty much topped out making 110k annually with about 30-40k in overtime depending on how much I want to work. I have about 6 months of vacation and another 6 months of sick time saved up so I get two paychecks for a while. If I stick around for 30 years I get a pension equal to 75% of my 3 highest base salary years (no OT). I have 10 years credit now so I would get 25% of my 3 highest years salary for a pension starting at age 60.
I know I am going to take a pretty big hit initially, but the lifetime earnings as an airline pilot are much higher.
Am I close on these estimates for the next possible 10 years? Or maybe my head is in the sky, or I am guessing low. They are just estimates/guesses. I know it could be better or worse. My longterm goal is a legacy, but I would probably be just fine if I could make it to the left seat at a LCC
2022- 40k
2023- 45k
2024- 50k
2025- 100k (upgrade)
2026- 115k
2027- 125k. (hired at lcc or legacy hopefully)
2028- 145k.
2029- 150k
2030- 150k
2031- 200k (upgrade)
2032- 225k