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09-17-2009 | 01:21 PM

#11

Lori Clark

Gets Weekends Off

Joined: Mar 2005

Posts: 320

Likes: 1

From: Aviation Consultant

Quote:

Originally Posted by rickair7777

Hi Lori!
....

Hiya!!
I know I've been 'out of the loop' for quite awhile, had some personal challenges that really made me retreat from everything.... But I'm back!

09-17-2009 | 02:46 PM

#12

74plb

Gets Weekends Off

Joined: Mar 2006

Posts: 215

Likes: 0

Quote:

Originally Posted by macatstarr

thanks for the advice guys,

After working for Uncle Sam I went to auburn, got the degree in aviation management & halfway through my instrument training I literally had to decide if I was going to eat or take a flight lesson... so with great sorrow I dropped out, moved to the sh**hole of the world & have worked in "big oil" making six figures/yr for most of that. I have just under have a mil in my 401K @ 32.

I hear everyone talk about how bad they have it, the money, the furloughs, etc. the fact remains, you still get to fly for a living! when I'm up to eyes in resid (crude oil) and breathing H2S (hydrogen sulfide; above 10 PPM is a killer) the only thing I can think about is getting back in the skies. Call me crazy, but I want what most career pilots take for granted...

just got to get my wife understand... lol

If you have just under a million dollars in your 401(K) at age 32, you should just fly for a hobby and continue with your investing.
Most career pilots don't complain about their chosen profession, Jungle summed up what most of us feel at work in a recent Vagabond thread. I tried to get out of flying and couldn't do it. I'm working my way out of a job again as a PFE but I'm still enjoying the job, the odd hours and the diverse people I encounter at work.

09-17-2009 | 03:15 PM

#13

ufgatorpilot

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Joined: Jan 2009

Posts: 341

Likes: 0

Quote:

Originally Posted by Airbum

well with a million in the bank at 32 or 34 your 401k will provide more then any flying job will.

Ummmm, considering the limits on the yearly contributions to your 401(k), it sounds impossible to me that someone could have that amount of money in a 401(k) at such a young age.

09-17-2009 | 08:31 PM

#14

rickair7777

Prime Minister/Moderator

Joined: Jan 2006

Posts: 44,931

Likes: 699

From: Engines Turn or People Swim

Quote:

Originally Posted by ufgatorpilot

Ummmm, considering the limits on the yearly contributions to your 401(k), it sounds impossible to me that someone could have that amount of money in a 401(k) at such a young age.

I think he said half a mil, not one mil....If you hit the market at the right time (avoided the crashes in 2000 and 2008) it could be done. I had a pretty large chunk by that age, and I started late (no 401k in the military).

But money-markets and blue chips would not get you there.