Next 10 years earnings for a career changer?
10-01-2021, 03:45 PM
#12
Prime Minister/Moderator
Joined APC: Jan 2006
Position: Engines Turn Or People Swim
Posts: 39,273
Originally Posted by Rama
Don't forget to factor in the 401k contribution. At an average of 15% it adds up nicely over time,
10-01-2021, 07:33 PM
#13
On Reserve
Joined APC: Apr 2021
Posts: 10
Thanks for putting this together. I'm at almost the exact same stage in life you are but with 250 hours to go and trying to decide if I want to give up the security of the desk job. This should help sell the wife on it....as well as the hope of flight benefits one day.
10-01-2021, 07:34 PM
#14
Perennial Reserve
Joined APC: Jan 2018
Posts: 11,501
Originally Posted by rickair7777
US inflation will not reach extreme levels unless we...
1) Are disconnected from the global economy
2) Have no checks and balances in spending
The current regime is already showing cracks in their spending ambitions, as moderates worry about midterms. It will also help once they stop paying people to sit at home because they're "scared" of covid.
1) Are disconnected from the global economy
2) Have no checks and balances in spending
The current regime is already showing cracks in their spending ambitions, as moderates worry about midterms. It will also help once they stop paying people to sit at home because they're "scared" of covid.
https://www.cnbc.com/2021/09/30/yell...ltogether.html
an ongoing rate the highest in 30 years:
(Bloomberg) -- A closely watched measure of U.S. inflation rose the most on an annual basis in three decades, fueling concerns that price increases will last longer than expected and eventually hit consumer spending
New York (CNN Business)Americans should brace for sticker shock on home heating costs as temperatures drop this fall and winter.
Prices for natural gas, the most common way to heat homes and a leading fuel source for generating electricity, have surged more than 180% over the past 12 months to $5.90 per million British thermal units. Natural gas hasn't been this expensive since February 2014.
Prices for natural gas, the most common way to heat homes and a leading fuel source for generating electricity, have surged more than 180% over the past 12 months to $5.90 per million British thermal units. Natural gas hasn't been this expensive since February 2014.
LOS ANGELES - The average price of a gallon of self-serve regular gasoline in Los Angeles County was unchanged Wednesday, two days after reaching its high for 2021.
The average price of $4.409 is 1.2 cents more than one week ago, six-tenths of a cent higher than one month ago and $1.209 greater than one year ago, according to figures from the AAA and the Oil Price Information Service. It has risen $1.177 since the start of the year.
The average price of $4.409 is 1.2 cents more than one week ago, six-tenths of a cent higher than one month ago and $1.209 greater than one year ago, according to figures from the AAA and the Oil Price Information Service. It has risen $1.177 since the start of the year.
One of President Joe Biden’s top economists told reporters at a White House briefing on Wednesday that grocery prices are normal if you exclude beef, pork, and poultry.
National Economic Council Director Brian Deese appeared at the briefing alongside Agriculture Secretary Tom Vilsack to tout the Biden administration’s initiative to lower rising meat prices amid widespread concerns about inflation more generally
National Economic Council Director Brian Deese appeared at the briefing alongside Agriculture Secretary Tom Vilsack to tout the Biden administration’s initiative to lower rising meat prices amid widespread concerns about inflation more generally
Cripes, except for beef, pork, and poultry, inflation is now worse than usual… That’s like saying, “Except for that, Mrs Lincoln, how did you enjoy the play?”
10-02-2021, 08:00 AM
#15
Perennial Reserve
Joined APC: Jan 2018
Posts: 11,501
Another voice heard from, this one predicting inflation based upon limitation of goods due to supply side and transportation disruptions.
https://www.theguardian.com/business...ransport-covid
Neil Shearing, the chief economist at Capital Economics, said the UK and the US were most at risk from overheating into inflation, leading to central bank action.
“Risks are generally skewed to the upside and there is a real possibility that inflation increases to a much higher rate that would, in time, necessitate a more substantial tightening of policy,” he said.
A paradigm shift in monetary policy after years of cheap credit could be accompanied by a rebalancing of the global economy as countries seek to shorten supply chains and become more self-sufficient through more autarkist policies, which promote non-reliance on imports. Romero Macau believes many companies could take the chance to move manufacturing away from China, where the supply of cheap labour that launched its economic miracle is drying up, to countries such as Vietnam and Mexico. The latter, he said, has cheaper labour costs than China, making it attractive especially for American companies.
Richard Flax, the chief investment officer at digital wealth manager Moneyfarm, said the crisis was already prompting a rethink by policymakers and business leaders.
“Risks are generally skewed to the upside and there is a real possibility that inflation increases to a much higher rate that would, in time, necessitate a more substantial tightening of policy,” he said.
A paradigm shift in monetary policy after years of cheap credit could be accompanied by a rebalancing of the global economy as countries seek to shorten supply chains and become more self-sufficient through more autarkist policies, which promote non-reliance on imports. Romero Macau believes many companies could take the chance to move manufacturing away from China, where the supply of cheap labour that launched its economic miracle is drying up, to countries such as Vietnam and Mexico. The latter, he said, has cheaper labour costs than China, making it attractive especially for American companies.
Richard Flax, the chief investment officer at digital wealth manager Moneyfarm, said the crisis was already prompting a rethink by policymakers and business leaders.
For months prices have been rising as the U.S. economy has recovered from the COVID pandemic while financial markets have stayed priced for perfection and central banks have clung to the view that elevated inflation would likely subside in short order.
Now, fears about higher prices are coming to the fore, with BofA Global Research analysts declaring in a Friday note that “stagflation is here” and a government report showing U.S. inflation still at a 30-year high as of August. Even central bankers appeared to be starting to capitulate this week, with Federal Reserve Chairman Jerome Powell saying that high inflation could run into 2022.
Rather than dissipating, price pressures are holding consistently firm and could be getting harder to dislodge as time goes on. At the moment, a global energy shortage is also unfolding across the U.K., Europe and China, shaking up investors previously distracted by COVID’s delta variant, the troubles of China’s Evergrande Group HK:3333, and the potential for a U.S. government shutdown along with the debt-ceiling debate
Now, fears about higher prices are coming to the fore, with BofA Global Research analysts declaring in a Friday note that “stagflation is here” and a government report showing U.S. inflation still at a 30-year high as of August. Even central bankers appeared to be starting to capitulate this week, with Federal Reserve Chairman Jerome Powell saying that high inflation could run into 2022.
Rather than dissipating, price pressures are holding consistently firm and could be getting harder to dislodge as time goes on. At the moment, a global energy shortage is also unfolding across the U.K., Europe and China, shaking up investors previously distracted by COVID’s delta variant, the troubles of China’s Evergrande Group HK:3333, and the potential for a U.S. government shutdown along with the debt-ceiling debate
Last edited by Excargodog; 10-02-2021 at 08:24 AM.
10-02-2021, 09:01 AM
#16
All is fine at .79
Joined APC: Sep 2016
Position: Paahlot
Posts: 4,083
Vegas,
Is it really just about the money?
I’m not reading anything about your drive to succeed in a different career.
You’ve got two small kids, those are the expensive kind and you won’t be home much so 90% of parenting will be on mom.
She ready for that?
Are your debts paid off? Your house?
You have Term life insurance that can financially cover the next 10-15 for your spouse and kids?
What’s your Plan C if you lose your medical?
Is it really just about the money?
I’m not reading anything about your drive to succeed in a different career.
You’ve got two small kids, those are the expensive kind and you won’t be home much so 90% of parenting will be on mom.
She ready for that?
Are your debts paid off? Your house?
You have Term life insurance that can financially cover the next 10-15 for your spouse and kids?
What’s your Plan C if you lose your medical?
10-02-2021, 09:36 AM
#17
Gets Weekends Off
Thread Starter
Joined APC: Jul 2017
Posts: 285
Originally Posted by TiredSoul
Vegas,
Is it really just about the money?
I’m not reading anything about your drive to succeed in a different career.
You’ve got two small kids, those are the expensive kind and you won’t be home much so 90% of parenting will be on mom.
She ready for that?
Are your debts paid off? Your house?
You have Term life insurance that can financially cover the next 10-15 for your spouse and kids?
What’s your Plan C if you lose your medical?
Is it really just about the money?
I’m not reading anything about your drive to succeed in a different career.
You’ve got two small kids, those are the expensive kind and you won’t be home much so 90% of parenting will be on mom.
She ready for that?
Are your debts paid off? Your house?
You have Term life insurance that can financially cover the next 10-15 for your spouse and kids?
What’s your Plan C if you lose your medical?
Driving the fire engine 12 days a month (usually 14 with overtime shifts) is a good gig. I pretty much hang out with my friends, do some training, and generally enjoy my job. I am absolutey burnt out on the paramedic side of things though.
I really enjoy travel and flying. I have owned two GA planes and really enjoy it. I know going to the airlines will be like driving a bus around. But its about the same days per month and the lifetime earnings will be significantly more.
As far as drive to succeed jn my career- I want to be successful in whatever I do. Putting in the effort and work to do that carries accross whatever field I am in. I don't really have the desire to promote to fire captain or chief. I like the position I am in now
My kids are young and my wife is already pretty independent and used to non rev flight benefits. I don't want to miss out on being a dad, but have no problem with working a bit more so we are better off financially. The fire dept already keeps me gone for 3 days at a time, so I figure a 4 day trip won't be the end of the world
We have life insurance (like 3 mil) and a house payment we can afford. Cars paid off. Minimal revolving debt. I have some student loans from 141 flight training- maybe the dems will pay them off‐ maybe they wont and I can pay them down pretty quick.
Plan C if I lose my medical..... I guess insure myself well, fall back on my 2 bachelors degrees and ride a desk in fire prevention or aviation management
Last edited by VegasChris; 10-02-2021 at 09:58 AM.
10-02-2021, 12:48 PM
#18
All is fine at .79
Joined APC: Sep 2016
Position: Paahlot
Posts: 4,083
Vegas,
Im sorry if I sounded overly harsh.
My answer was based on the info provided and the rest was assumption.
My philosophy exactly.
Go for it.
Im sorry if I sounded overly harsh.
My answer was based on the info provided and the rest was assumption.
no problem with working a bit more so we are better off financially.
Go for it.
Last edited by TiredSoul; 10-02-2021 at 01:01 PM.
10-03-2021, 07:01 AM
#19
Layover Master
Joined APC: Jan 2013
Position: Seated
Posts: 4,310
I just want to add that all of these numbers are MASSIVE assumptions and basically predicated around a best case scenario...
One of the problems with this career is you can have two pilots sitting next to one another up front, and one will have had a dreamlike career with no setbacks and nothing but financial bliss. Well timed hiring, contracts, upgrades, growth, etc. All of that NOTHING to do with the individual and what they did or didn't do.
The other guy has been furloughed twice, on his sixth airline, almost no savings account, and is working max hours/days every month just to get their 401k remotely in place.
One guy has a happy family and adoring wife, the other is mired in stress and driving a 16 year old Honda to and from LGA.
Nothing different in these pilots abilities or qualifications.
As a side note, I'm a volunteer FF, I work with several full time Philadelphia FFs, they all love their job.
I find more miserable pukes up front of a jet then I do at any other job i've worked.
You have to be able to tune out the negativity.
Be prepared to be lonely.
One of the problems with this career is you can have two pilots sitting next to one another up front, and one will have had a dreamlike career with no setbacks and nothing but financial bliss. Well timed hiring, contracts, upgrades, growth, etc. All of that NOTHING to do with the individual and what they did or didn't do.
The other guy has been furloughed twice, on his sixth airline, almost no savings account, and is working max hours/days every month just to get their 401k remotely in place.
One guy has a happy family and adoring wife, the other is mired in stress and driving a 16 year old Honda to and from LGA.
Nothing different in these pilots abilities or qualifications.
As a side note, I'm a volunteer FF, I work with several full time Philadelphia FFs, they all love their job.
I find more miserable pukes up front of a jet then I do at any other job i've worked.
You have to be able to tune out the negativity.
Be prepared to be lonely.
10-03-2021, 07:23 AM
#20
Gets Weekends Off
Joined APC: Sep 2017
Posts: 198
Originally Posted by PotatoChip
I just want to add that all of these numbers are MASSIVE assumptions and basically predicated around a best case scenario...
One of the problems with this career is you can have two pilots sitting next to one another up front, and one will have had a dreamlike career with no setbacks and nothing but financial bliss. Well timed hiring, contracts, upgrades, growth, etc. All of that NOTHING to do with the individual and what they did or didn't do.
The other guy has been furloughed twice, on his sixth airline, almost no savings account, and is working max hours/days every month just to get their 401k remotely in place.
One guy has a happy family and adoring wife, the other is mired in stress and driving a 16 year old Honda to and from LGA.
Nothing different in these pilots abilities or qualifications.
As a side note, I'm a volunteer FF, I work with several full time Philadelphia FFs, they all love their job.
I find more miserable pukes up front of a jet then I do at any other job i've worked.
You have to be able to tune out the negativity.
Be prepared to be lonely.
One of the problems with this career is you can have two pilots sitting next to one another up front, and one will have had a dreamlike career with no setbacks and nothing but financial bliss. Well timed hiring, contracts, upgrades, growth, etc. All of that NOTHING to do with the individual and what they did or didn't do.
The other guy has been furloughed twice, on his sixth airline, almost no savings account, and is working max hours/days every month just to get their 401k remotely in place.
One guy has a happy family and adoring wife, the other is mired in stress and driving a 16 year old Honda to and from LGA.
Nothing different in these pilots abilities or qualifications.
As a side note, I'm a volunteer FF, I work with several full time Philadelphia FFs, they all love their job.
I find more miserable pukes up front of a jet then I do at any other job i've worked.
You have to be able to tune out the negativity.
Be prepared to be lonely.
Switching careers to flying is understandable if you love flying and hate your current career. Just don’t do it because of the money. The most miserable guys I flew with were all the ones who got into aviation for the money and quickly learned how finicky the money can be.
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