Originally Posted by
Varks
The reason you have not met a pilot with 23 million is because we haven’t been making $400,000 for 35 years. I am sure many today have between 5-8 million.
starting today at 30 you would have to be a real bad investor to not have over $20 million. You should have way more than that.
In my Delta example I forgot about the 18%. Even easier. I forgot about over 50 was part of that. My bad. You can afford to put in $7500.
If I were 30 today I would after tax into Roth401k right now.
If you plan on having kids then 529. New good deal if you don’t use it then it can be converted to Roth IRA for the primary recipient.
This isn’t exclusive to Delta. Anyone starting today can do it. It just takes a little discipline. Time value. Plug the numbers into a compound interest calculator. Don’t trust me. Easy Peasy lemon squeezy.
Everything you said about financial vehicles is spot on, I will even add that HSA is something most pilots don't take advantage of.
All I am saying is "stuff" happens in a 30 to 35 year airline career. It wasn't all that long ago that the legacies had guys on furlough, and not just for a few months but years. The historic return in the markets will probably match the historic boom and bust pilot career.