Furlough Estimates
07-13-2020, 06:27 PM
#341
Eating A Gruben
Joined APC: Feb 2020
Posts: 1,065
Originally Posted by ZeroTT
there is absolutely something you can do to prepare for unemployment with 6 months notice.
Originally Posted by chrisreedrules
Well that’s not true at all.
First of all, yea you’re losing a 6-figure income. But by taking any job you can find to stem the bleed of cash while you hunt for something better you certainly buy yourself time.
First of all, yea you’re losing a 6-figure income. But by taking any job you can find to stem the bleed of cash while you hunt for something better you certainly buy yourself time.
07-13-2020, 06:45 PM
#342
Gets Weekends Off
Joined APC: Dec 2019
Posts: 216
Unbelievable. This is why pilots should stick to flying and not try to give advice. Especially financial advice.
I have unfortunate news. Even if you have a non aviation degree such as myself..we all lack something very important outside of aviation: Experience. It's because we have dedicated the past decade + acquiring experience as pilots and not in anything else.
Think you'll go find something to do that pays even a fraction of what you make as an airline pilot? Wake up. If the worst happens and we have to adapt and survive, each one of us will figure it out. One way or another. What certainly won't help are smug comments like "you have six months..prepare nowww" or bone headed financial advice.
I have unfortunate news. Even if you have a non aviation degree such as myself..we all lack something very important outside of aviation: Experience. It's because we have dedicated the past decade + acquiring experience as pilots and not in anything else.
Think you'll go find something to do that pays even a fraction of what you make as an airline pilot? Wake up. If the worst happens and we have to adapt and survive, each one of us will figure it out. One way or another. What certainly won't help are smug comments like "you have six months..prepare nowww" or bone headed financial advice.
07-14-2020, 04:32 AM
#343
Gets Weekends Off
Joined APC: Jul 2017
Posts: 1,030
Originally Posted by FetaCheese
Unbelievable. This is why pilots should stick to flying and not try to give advice. Especially financial advice.
I have unfortunate news. Even if you have a non aviation degree such as myself..we all lack something very important outside of aviation: Experience. It's because we have dedicated the past decade + acquiring experience as pilots and not in anything else.
Think you'll go find something to do that pays even a fraction of what you make as an airline pilot? Wake up. If the worst happens and we have to adapt and survive, each one of us will figure it out. One way or another. What certainly won't help are smug comments like "you have six months..prepare nowww" or bone headed financial advice.
I have unfortunate news. Even if you have a non aviation degree such as myself..we all lack something very important outside of aviation: Experience. It's because we have dedicated the past decade + acquiring experience as pilots and not in anything else.
Think you'll go find something to do that pays even a fraction of what you make as an airline pilot? Wake up. If the worst happens and we have to adapt and survive, each one of us will figure it out. One way or another. What certainly won't help are smug comments like "you have six months..prepare nowww" or bone headed financial advice.
07-14-2020, 05:23 AM
#344
Gets Weekends Off
Joined APC: Feb 2010
Position: 2 Fan **** Can
Posts: 153
Good to hear our colleagues at DAL got some much needed good news. This is all a major political chess match, but regardless of what happens with us, wonderful to read possible zero layoffs from EB. This should give us all a little more hope. Obviously, we are not dal, but if they complete this goal and we dump thousands it’s gonna look extremely bad.
07-14-2020, 05:25 AM
#345
Eating A Gruben
Joined APC: Feb 2020
Posts: 1,065
Originally Posted by Knobcrk1
Im sure someone that’s been at American has seen a downturn or two, maybe even the 20 somethings that were hired probably were affected by the last recession somehow. Being furloughed is not the end of the world you just have to say goodbye to all your discretionary spending as well as the 2021 Mercedes S class and start getting to know your Honda Civic again. Some are lucky enough to have a spouse that makes good money. Unemployment should be able to cover basic expenses.
Unemployment will cover mortgage, car payment, childcare while you work mowing lawns, food, insurance that you just lost?? Let me guess, you’ll tell us to sell our car, refinance our home, sell the kids into indentured servitude... what else?
As feta said, this is just more useless and unwarranted advice from people not staring down unemployment.
07-14-2020, 05:50 AM
#346
Gets Weekends Off
Joined APC: Jul 2008
Posts: 4,921
Originally Posted by ZeroTT
I’ll pile on
there is absolutely something you can do to prepare for unemployment with 6 months notice. Yes rent (or sell) the house. Make vehicle changes. Have the spouse start abc-ing again if possible. Or hide assets if bankruptcy is inevitable.
Comparing what you have now to what you will have after furlough isn’t the right comparison. It’s more like what you can save from a burning house vs one that will flood in 12 hours
there is absolutely something you can do to prepare for unemployment with 6 months notice. Yes rent (or sell) the house. Make vehicle changes. Have the spouse start abc-ing again if possible. Or hide assets if bankruptcy is inevitable.
Comparing what you have now to what you will have after furlough isn’t the right comparison. It’s more like what you can save from a burning house vs one that will flood in 12 hours
07-14-2020, 06:49 AM
#347
Gets Weekends Off
Joined APC: Feb 2007
Position: Right Seat
Posts: 1,458
APA needs to negotiate more early retirements with the company and then put the pressure on these old crusty holdouts to retire. It would be a win win for everyone. They would get to retire early with pay, and then a young guy with a family would not lose his job. This is best for the company too, as widebody flying is where we have no demand, and that’s the majority of where the retirements would be. Besides, these guys spent a majority of their career anticipating having to retire at 60, so there’s no loss in them retiring early, especially with pay.
07-14-2020, 06:54 AM
#348
Gets Weekends Off
Joined APC: Mar 2014
Posts: 774
Originally Posted by texaspilot76
APA needs to negotiate more early retirements with the company and then put the pressure on these old crusty holdouts to retire. It would be a win win for everyone. They would get to retire early with pay, and then a young guy with a family would not lose his job. This is best for the company too, as widebody flying is where we have no demand, and that’s the majority of where the retirements would be. Besides, these guys spent a majority of their career anticipating having to retire at 60, so there’s no loss in them retiring early, especially with pay.
07-14-2020, 07:24 AM
#349
Gets Weekends Off
Joined APC: Sep 2016
Posts: 774
Only useful advice I have is Wells Fargo, and some other banks, "will recast, or re-amortize" your current mortgage.
It's free, no credit application, or appraisal required. Have to have been paying ahead on your mortgage though, or be willing to write a check to reduce principle to trigger the recast.
The AA credit union will also refi the balance of your car for a new 5 year term for free they claim.
It's free, no credit application, or appraisal required. Have to have been paying ahead on your mortgage though, or be willing to write a check to reduce principle to trigger the recast.
The AA credit union will also refi the balance of your car for a new 5 year term for free they claim.
07-14-2020, 07:30 AM
#350
Gets Weekends Off
Joined APC: Jul 2010
Posts: 3,202
Originally Posted by Battlinbear
Good to hear our colleagues at DAL got some much needed good news. This is all a major political chess match, but regardless of what happens with us, wonderful to read possible zero layoffs from EB. This should give us all a little more hope. Obviously, we are not dal, but if they complete this goal and we dump thousands it’s gonna look extremely bad.
EB said that if they need to furlough it will be a small number (hint hint 2558 pilots and nobody else).
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