Shoot some holes, please! (airline career)
 

seeking input, both good and bad. been pursuing the airline pilot thing since 2007. my window for going for it is summer 2015. i am looking for input about what i have not considered or if my thinking has been flawed. i am Commercial and have about 1200 hours TT and still need to get my 100 multi, but lucky to have a buddy that wants to pay for the time building past my add on. he says he has to pay for the airplane anyways and if i want, i can pay him back after i make captain. will get another 200 hours as a sheriff volunteer pilot flying a C172. i already have the big custom house in a gated community, a VA disability that gives me some monthly income but more importantly covers 100% my son's college tuition in California and has no age limit for him. i can also draw on my CalPers retirement at age 50 that has a continual 2% adjusted COLA until they put me in the ground. wife just got appointed to a state employment position that is worth about a 10 year major FO pay at southwest. because of the early retirement money and my wife's pay, we can still pay all of our bills and have almost 2000 a month left over if i get furloughed. it is very true that i will lose out on retirement money but in retirement at age 65 i will still have monthly about $6000 left over with my early retirement and SS after all my recurring payments are paid and then a couple more thousand after my first mortgage is paid off. i also have saved about $30,000 for that first year pay and included $300 a month for 6 years into my calculations for a crash pad if needed. my calculations also include making Captain in the sixth year. i also have a Masters degree but will only stay at a regional for QOL issues because of age.

been married for 22 years to my high school sweetheart and she was my spouse when i was in the USAF as a navigator flying B-1s. she stated she would not hold me back from doing what i want to do but constantly states that the pay is crappy. my son is just about to turn 13 and will be 15 when i start applying.

i laid this info out because i want my family to have limited worries about a lowered income or lifestyle. my need from this forum is whether i have considered most of the gotchas before making the jump. thanks for listening.

shoot some holes, please
 

Sounds like you've put a lot of thought into the decision so I won't be the one to try and talk you out of it. However, nothing is set in stone with this industry as I'm sure you know. Today's "gem" of a regional is tomorrow's Comair or Pinnacle. As long as you stay flexible and can deal with the heartache and frustrations that come with being a regional pilot your wife's income sounds like it will keep you out of bankruptcy. Don't plan on your 'plan' working out as planned. Clear as mud?

Sounds like you have enough money to live on. A few holes...

Will your wife be happy with your perpetually deflated regional income? Even if you have enough to get by will she resent the fact that you're not pulling your weight?

Regionals are NOT looking to be stable in the long run. In fact the underlying business rational behind regionals depends on instability and churn in order for the regionals to keep money out of the hands of labor and in management pockets. Be careful putting a lot of effort, money, and time into building regional seniority only to have the rug yanked out from under you. You don't want to be commuting across country ate age 58 to sit reserve as a regional FO. I would just plan on heading straight for a major at the earliest opportunity...there should be enough hiring and your military background (and a few bone driver buddies) should help out.

Assuming CA goes bankrupt eventually, some of those sweet education bennies may not be there. I plan on using them, but I'm also saving in case they aren't there. If it works out, then I'll buy a boat or something with the money.

thanks. i hope that she is not resentful. her only comment is that the airlines should pay more. an early retirement paycheck, saved first year money, along with FO income until year 6 captain on an RJ will actually be a net positive over 15 years of working. the bad part comes after age 65 when i would have made twice as much in retirement because i would have had more years worked. i have always made the most money between us until very recently. heck, i paid for her to finish her bachelors and masters so she cant be too mad. maybe i am getting my investment to pay off. i even sold real estate on the side for extra income so we could have some nice things and go to some nice places. not to sound like an ass, but i guess i feel that i have done my part and by pursuing this since 2007 doesn't make it such a shock. but i have moved past that tipping point where it isn't fiscally prudent to go to an airline job even if i could make Captain in a year. the only reason is to finish my working life doing something i want to do before i am done.
you are right about the bennies, i am counting on that, and that is probably the weakest link. good point.
the problem with the major thing is that i will be 50 in 2015. i believe my age would prevent any movement for me. but if your claim that planning for a regional career is correct, that may cause me to rethink this career change. haven't thought i couldn't hang out at SKW until age 65.

OK - I'll point out a hole/bad

Fixed it for you ;)

Does your buddy know how long it might be before you make Captain?

Yes he does. He is doing the same thing.

The road to the airlines a long and bumpy road. It's not paved in sugar and candy. I have flown with a lot of senior pilots that have given me their whole life story on how they got to where they are today. I can tell you it's not pretty. However the ends justify the means. Even though its paved in low pay to start, lots of furloughs, and any other obstacles, its well worth it in the end. Those very same pilots i fly with that complain about the road they traveled to get to where they are, are the same pilots that are showing off their huge house on the water with their 30' boats and airplanes in the hanger at the local small airport.

thanks for the reply corperalcleg but i am not sure what you are stating. i tried to send you a PM but wasn't able to.

Still have to jump all the hoops to get fully activated in here.

Im saying everyone is going to have a hard time making it in this industry in the beginning. But later on down the line it's worth all the hardship.

Wow, How long ago were you in the B-1 world? I may be a Johnny-come-lately, but from 2000 on we didn't have navigators. There were WSOs who did both Offensive and Defensive systems officer work.