Side Hustle
05-18-2018, 12:45 PM
#101
Gets Weekends Off
Joined APC: Apr 2007
Posts: 4,459
Originally Posted by RyanP
So coming from a long time at a regional and not being really aggressive with long term planning, this is the first year I am going to be maxing out personal 401K contributions at $18,500 + 16% from the company.
We plan to put 100% of my flying income into retiring early and living solely off the spouses income. She also maxes out her 401K contributions. What would the financial "guru's"
here recommend putting the rest into? Real estate rentals? S&P Index fund? Both?
We both put money into the stock market outside of our 401K, but have been looking into real estate as our next move. Just starting to read tons of books on the subject but some of you guys have years of a head start on me so you could probably provide some good insight.
*note, clearly not just basing decisions off a pilot board, but nice to hear ideas and what everyone else is doing.
We plan to put 100% of my flying income into retiring early and living solely off the spouses income. She also maxes out her 401K contributions. What would the financial "guru's"
here recommend putting the rest into? Real estate rentals? S&P Index fund? Both? We both put money into the stock market outside of our 401K, but have been looking into real estate as our next move. Just starting to read tons of books on the subject but some of you guys have years of a head start on me so you could probably provide some good insight.
*note, clearly not just basing decisions off a pilot board, but nice to hear ideas and what everyone else is doing.
3. Buy income property. This is a subset of real estate. Single family houses, duplexes or a 4 plex are a good place to start. Once you exceed 4 units, the financing falls under a different set of rules, which can give you more options on how to structure the ownership and financing. If you want to jump right in, go for a small apartment complex, storage facility, trailer park, RV park. They each have their own positives and negatives. Whatever you do in the income property realm, build a team to do the work for you. The goal is to have an investment, not another job. If you are lazy and loaded, look at NNN investments. My broker refers to that as "mailbox money".
3. Keep some liquidity in S&P 500 Index or other low cost diversified fund. Keep some in cash. You never know when opportunity will come knocking.
05-18-2018, 01:01 PM
#102
Banned
Joined APC: Dec 2009
Position: Narrow/Left Wide/Right
Posts: 3,655
Originally Posted by madmax757
A fall from a 30 foot ladder at worst could be fatal, if you're lucky you could just break a leg or end up in a wheel chair the rest of your life. I'd consider hiring a window washer for a couple hundred bucks. About 10 years ago a former governor of Nevada was cleaning his gutters in 100 degree heat, passed ou, fell off the ladder, cracked his head open and died.
05-18-2018, 01:03 PM
#103
Gets Weekends Off
Joined APC: Dec 2007
Posts: 662
Originally Posted by sailingfun
If you can live off your spouses income I would work long enough to afford about a 26 foot Grady White with twin 300’s. I would retire at that point and let the wife work forever!
05-18-2018, 01:57 PM
#104
Gets Weekends Off
Joined APC: Jul 2011
Posts: 894
Originally Posted by Gunfighter
1. Mega Back Door Roth IRA. You can make an after tax contribution to the Delta plan and convert to a Roth up to 415C limits. If you do this early in the year, the company contribution comes to you as DPSP Cash every paycheck.
3. Buy income property. This is a subset of real estate. Single family houses, duplexes or a 4 plex are a good place to start. Once you exceed 4 units, the financing falls under a different set of rules, which can give you more options on how to structure the ownership and financing. If you want to jump right in, go for a small apartment complex, storage facility, trailer park, RV park. They each have their own positives and negatives. Whatever you do in the income property realm, build a team to do the work for you. The goal is to have an investment, not another job. If you are lazy and loaded, look at NNN investments. My broker refers to that as "mailbox money".
3. Keep some liquidity in S&P 500 Index or other low cost diversified fund. Keep some in cash. You never know when opportunity will come knocking.
3. Buy income property. This is a subset of real estate. Single family houses, duplexes or a 4 plex are a good place to start. Once you exceed 4 units, the financing falls under a different set of rules, which can give you more options on how to structure the ownership and financing. If you want to jump right in, go for a small apartment complex, storage facility, trailer park, RV park. They each have their own positives and negatives. Whatever you do in the income property realm, build a team to do the work for you. The goal is to have an investment, not another job. If you are lazy and loaded, look at NNN investments. My broker refers to that as "mailbox money".
3. Keep some liquidity in S&P 500 Index or other low cost diversified fund. Keep some in cash. You never know when opportunity will come knocking.
) will have to look into our Fidelity plan and see what is available. I think they have the same rules..
05-18-2018, 03:50 PM
#105
Gets Weekends Off
Joined APC: May 2011
Posts: 402
Originally Posted by GucciBoy
I like the part where he freely shared that he was a human trafficker, and that you presumably let a coworker go on about his trafficking business without so much as a raised eyebrow. But hey, it’s probably legal in the Philippines! And they aren’t like, you know, real people like Americans, yikes]
End quote.
Well Gucci Boy, dont let your morals get in tbe way of a good story. In fact prostitution is legal in not only the Phillipines, but in many modern (and some not so modern) countries. In fact it was legal in some parts of Nevada, and may still be.. I would think that a well regulated industry that provides a service that both the customer and the paid perticipant want (who has regular medical checkups ) is much better than something akin to a dark alley transaction that still happens in those modern American cities. Legal regulated prositution is a far cry from human trafficking. You have watched too many DOD TIP videos. Ever been to AMS?
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End quote.
Well Gucci Boy, dont let your morals get in tbe way of a good story. In fact prostitution is legal in not only the Phillipines, but in many modern (and some not so modern) countries. In fact it was legal in some parts of Nevada, and may still be.. I would think that a well regulated industry that provides a service that both the customer and the paid perticipant want (who has regular medical checkups ) is much better than something akin to a dark alley transaction that still happens in those modern American cities. Legal regulated prositution is a far cry from human trafficking. You have watched too many DOD TIP videos. Ever been to AMS?
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05-18-2018, 05:55 PM
#106
Gets Weekends Off
Joined APC: Feb 2009
Position: Fetal
Posts: 1,148
Originally Posted by p3flteng
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I didn’t mean to ruin your story about that c**t you had in your jumpseat. Apologies.
But since I already ruined it, I’ll just add that prostitution is actually illegal in the Philippines, as is traveling outside the U.S. for the purposes of engaging in sexual contact with a minor (this guy sounds pretty stand-up, though, so I’m sure all his chickenheads were over 18). Stay classy!
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05-18-2018, 07:54 PM
#107
Line Holder
Joined APC: May 2018
Posts: 46
I'm not a pilot... yet. I recently left Wall Street and just started ground school. I was curious about this thread because I plan to continue my personal investments on the side but also maybe starting an advisory or small RIA / hedge fund on the side if I could.
I have traded or managed real estate, equities and fixed income. My 2 cents:
Real estate is a great asset class for pilots because it offers positive income streams, consistent inflation adjusted yields but most importantly tax incentives for owner operators. You don't have to actively manage for the most part and if you outsource management it's pretty much an absentee business. Do not over lever at this point in the cycle and go for base hits unless you are getting an asset really really really cheap. Put yourself in positive carry scenarios with fundamental upside.
Self Directed IRA's are great but there's also a lot of rules involved and a lot of the custodians are very shady 2 man operations. Go with larger FDIC covered institutions. The larger institutions are very strict with guideline where some of the smaller firms may not be. I just don't want to wake up and read in the Journal or FT that my custodians took all the money and now live in a non-extradition country.
Equities - where we are in the cycle it's hard to get really excited about equities and with rates increasing systemic leverage should decline eventually. Vol is still the best bet in my opinion but you would have to trade it actively, I mean be in front of a screen whenever you are not sleeping, to really take advantage of that trade. Don't mess with Vol ETF's - the rolls make them horrible and never carry well. You're just lighting money on fire and making it rain ashes.
Fixed Income - yields now do not really reflect real risk. BBB new issue at 4.5% still blows my mind. There is still a lot of offshore money coming into the system, just global macro it doesn't look attractive to me.
The above is not an order to buy nor sell securities. The above is not a recommendation to buy or sell securities nor does the above constitute legal nor tax advise. Please confer with a financial advisor or tax advisor before buying or selling any investment.
If you guys had advise for a guy just starting out what would it be?
If you could fly for any airline right now (very subjective question) where and why?
I took a look at some of the earnings reports for the 3 majors. Delta seems to be the most profitable but they have just hired 4,000 pilots over the last few years and I doubt they will need more by the time I get through training and the 1,500 hours and then time at a regional, or am I missing something?
I have traded or managed real estate, equities and fixed income. My 2 cents:
Real estate is a great asset class for pilots because it offers positive income streams, consistent inflation adjusted yields but most importantly tax incentives for owner operators. You don't have to actively manage for the most part and if you outsource management it's pretty much an absentee business. Do not over lever at this point in the cycle and go for base hits unless you are getting an asset really really really cheap. Put yourself in positive carry scenarios with fundamental upside.
Self Directed IRA's are great but there's also a lot of rules involved and a lot of the custodians are very shady 2 man operations. Go with larger FDIC covered institutions. The larger institutions are very strict with guideline where some of the smaller firms may not be. I just don't want to wake up and read in the Journal or FT that my custodians took all the money and now live in a non-extradition country.
Equities - where we are in the cycle it's hard to get really excited about equities and with rates increasing systemic leverage should decline eventually. Vol is still the best bet in my opinion but you would have to trade it actively, I mean be in front of a screen whenever you are not sleeping, to really take advantage of that trade. Don't mess with Vol ETF's - the rolls make them horrible and never carry well. You're just lighting money on fire and making it rain ashes.
Fixed Income - yields now do not really reflect real risk. BBB new issue at 4.5% still blows my mind. There is still a lot of offshore money coming into the system, just global macro it doesn't look attractive to me.
The above is not an order to buy nor sell securities. The above is not a recommendation to buy or sell securities nor does the above constitute legal nor tax advise. Please confer with a financial advisor or tax advisor before buying or selling any investment.
If you guys had advise for a guy just starting out what would it be?
If you could fly for any airline right now (very subjective question) where and why?
I took a look at some of the earnings reports for the 3 majors. Delta seems to be the most profitable but they have just hired 4,000 pilots over the last few years and I doubt they will need more by the time I get through training and the 1,500 hours and then time at a regional, or am I missing something?
05-18-2018, 08:27 PM
#108
Gets Weekends Off
Joined APC: May 2011
Posts: 402
I didn’t mean to ruin your story about that c**t you had in your jumpseat. Apologies.
But since I already ruined it, I’ll just add that prostitution is actually illegal in the Philippines, as is traveling outside the U.S. for the purposes of engaging in sexual contact with a minor (this guy sounds pretty stand-up, though, so I’m sure all his chickenheads were over 18). Stay classy!
Sent from my iPhone using Tapatalk[/QUOTE]
Ok, your right, I looked it up on wikipedia, the Phillipines does not have legalized prostitution. I was very surprised by that, as it is extremely prevalent there. Looking deeper, it also says that its not only tolerated by some of the local goverments, but they are involved in some cases.
There is also a list of countries that have legal prostitution on wikipedia:
Australia, Denmark, England, Germany, US (Nevada), Holland, New Zealand, Austria, Bangladesh, Belgium, Brazil, Columbia, Costa Rica, Canada, Ecuador, France, Greece, Indonesia....and thats just the top notables on the list as it goes on and on. But hey, its easy to throw around the class word about someone you never met because you think its morally wrong. I guess its just as easy to accuse an individual of trafficking in persons and child prostitution...but seriously dude...thats a GIANT leap.
Could that same argument or logic be applied to someone wearing Gucci Shoes? Or would you call them a child slave holder, because some of those Guccis might have been made in a sweatshop by a 5 year old in Karachi?
Frankly I dont even know the guy,...but really, yet I find myself defending him, or at least the premise...cause I just dont like the morality police trying to cast shadows or shame the rest of us. If its not your cup of tea, so be it, its not mine personally either, but I dont presume anything, especially to tell people what they should or shouldn't be doing, especially if its legal.
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