Look for 401a after tax contribution on the portal where you make contribution elections. It may be on the AA HR side or on the Fidelity plan side. Either way spend time on Bing/Google searching "401a to Roth IRA"

 

With your Envoy history, I would just consider yourself extremely fortunate to be at AA and focus on trying to fly and do my job. You don't need any distractions.

 

Really? Should we all just chair fly everyday at home and do nothing else? Airline pilot....not brain surgeon. I think he will be fine.

 

You should probably keep your focus on your envoy cheerleading and counting down the days until your flow in 2025

 

Having a source of income and financial security outside of the airline is a wise idea. It is far less distracting than the concerns over furlough if the music stops tomorrow. I started my side hustle with income property the month I was hired as a source of stability.

 

On the flip side several I know have personally decided a one day green slip quickly off sets the side hustle with far less hastle. They have therefore given up the side hustle.

I agree with the points made about not having all your eggs in one basket. I’ve been furloughed, twice, so I’m well aware the music can stop.

 

That's all great as long as you are flying, actively employed and don't mind spending an extra day or two away from home each month. I totally get guys who do that. But personally, my side hustle (rental property) is as much about revenue now as it is part of a long-term plan to generate income and preserve wealth post-retirement. Hire a trusted, competent manager/management company and it really is a hands-off business with little effort 95% of the time. As a data point, I would estimate that I spend about 2 hours per month actively thinking about or having to be involved in any of my properties. Way less time involved than even picking up a green slip. And if you're the kind of sick individual who happens to enjoy evaluating properties and delving into the finances of it, then that 5% that is "work" doesn't even really seem like work. Your reward for this minimal effort? A few thousand dollars a month just deposited in your account while letting someone else pay for you to build equity that can be cashed out or borrowed against when and how you choose.

 

I think it all comes down to personal preference. The extra flying is the easier route that pays very well. I find myself morr gravitating to stories of what people accomplish outside of the cockpit.

 

I think side hustles are good just to keep active, but as always, the best guard against an economic downturn is to be debt free.

 

This times a billion. I have toys but I have toys that I pay for in cash. I have a house that fits my family comfortably but I don’t plan I buying a bigger Captain house. Live below your means and you will also live stress free.