Forced retirement 65 - What's time worth
07-03-2019 | 12:14 PM
#1
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On Reserve
Joined: Jun 2019
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Forced retirement 65 - What's time worth
You will turn 65 in 2050.
Assume your last two years paid $250,000/yr in 2019 dollars.
You are a ready to take ATP but for lack of time.
Are you losing ~$500,000 from career earnings if it takes you 2 years to build your 1500 hours?
Options:
Assume your last two years paid $250,000/yr in 2019 dollars.
You are a ready to take ATP but for lack of time.
Are you losing ~$500,000 from career earnings if it takes you 2 years to build your 1500 hours?
Options:
- Fly 135 or CFI and wait two years and hope airlines are still hiring
- Pay $70,000 over 10 years and have XC 1500 hrs in 4 months from today
07-03-2019 | 12:24 PM
#2
Gets Weekends Off
Joined: Nov 2017
Posts: 509
Likes: 0
You will turn 65 in 2050.
Assume your last two years paid $250,000/yr in 2019 dollars.
You are a ready to take ATP but for lack of time.
Are you losing ~$500,000 from career earnings if it takes you 2 years to build your 1500 hours?
Options:
Assume your last two years paid $250,000/yr in 2019 dollars.
You are a ready to take ATP but for lack of time.
Are you losing ~$500,000 from career earnings if it takes you 2 years to build your 1500 hours?
Options:
- Fly 135 or CFI and wait two years and hope airlines are still hiring
- Pay $70,000 over 10 years and have XC 1500 hrs in 4 months from today
You might not have two years at the top if you spend 70k to go fly around. You might have 70k debt and a busted 121/ATP ride though. Go get a CFI, go fly 135 PIC from 1200-1500hrs and then go 121. Focus on today and getting that passed
07-03-2019 | 04:14 PM
#3
Gets Weekends Off
Joined: Feb 2019
Posts: 307
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I would think that only very desperate employers would hire someone who paid 70K to fly around for leisure over a CFI or Part 135 guy
07-03-2019 | 05:00 PM
#4
Prime Minister/Moderator
Joined: Jan 2006
Posts: 44,841
Likes: 653
From: Engines Turn or People Swim
You might be able to do the math on excel and make a case for spending the money now.
But there's significant time-value of money... that $70K could in theory be put to better use over 30 years.
Also given potential uncertainties (industry, economy, health, etc) it's hard to put a certain dollar value on those last two years. Although it's probably a lot more than $250K/year if all goes well... that's FO pay at many legacies.
But there's significant time-value of money... that $70K could in theory be put to better use over 30 years.
Also given potential uncertainties (industry, economy, health, etc) it's hard to put a certain dollar value on those last two years. Although it's probably a lot more than $250K/year if all goes well... that's FO pay at many legacies.
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