Retirement...Again! (insert smiley face here)

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12-25-2018 | 01:28 PM

#11

GogglesPisano

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From: Sitting SC at the Five Towns

Who said anything about trading PS for a DB? I’d listen to the idea of a DB to supplement our DC.

12-25-2018 | 01:32 PM

#12

Dash8Pilot

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From: Dreamniner

I’ve had two high credit months in Nov. and Dec. and I roll onto third year pay next month. The timing of this Wall Street sale is pretty great for me.

Still not happy about the decline though. I know a drop like this is frightening for a lot of the pilots with less than 2 years to go, and may be throwing a wrench in the plans of those that were going to retire early. I’d have been content to see the market tread water for a couple years until valuations caught up.

12-25-2018 | 01:33 PM

#13

Han Solo

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From: Fastest Hunk of Junk in the Galaxy

Quote:

Originally Posted by Denny Crane

Lol. Yeah, I'm feeling pretty frisky today! I used my APD to get the 23rd off and an IVD to get the 27th off. In my category it's pretty hard to get assigned a three day trip when your base, currently, only has one scheduled in base departure (the others are DH's). So I'm home on Christmas!

Denny

Nice work, I was locked out of all juke-the-garbage-trip options from 23-27 Dec so I'm enjoying some quality time at the EWR mid-layover after being forced to take an Uber from JFK when Golden Touch didn't show up... That said, as long as you don't withdraw you haven't lost anything. The market goes up, the market goes down, other than in the distant periphery of my attention I don't care one way or the other. Down market means more cheap shares with next year's contributions and I've got no desire for a DB that can be stolen to line shareholder or management pockets.

12-25-2018 | 01:52 PM

#14

Stryder

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From: MD88FO

Quote:

Originally Posted by GogglesPisano

Who said anything about trading PS for a DB? I’d listen to the idea of a DB to supplement our DC.

You would be surprised at all the pilots pushing for that. Apparantly DB would be cheaper for the company than ps at this point and that is the sales pitch they are using.

12-25-2018 | 02:34 PM

#15

TED74

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Quote:

Originally Posted by Denny Crane

First of all........Merry Christmas!!!!

Now, to throw gasoline on the Retirement fire (debate)............

How are you youngun's feelin' about your 401k/5 million dollar DC retirement after the last couple of weeks on Wall Street!?! Any reconsideration for the merits of some sort of DB going on?

Might as well start a free for all on Christmas Day!!!

Denny

KISS. Dollar cost average. Easy peasy, no worries.

12-25-2018 | 02:39 PM

#16

Denny Crane

Thread Starter

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From: Kickin’ Back

For those of you that say "I don't want a DB because it can be taken like the last one.", maybe you should look at the way new DB's are structured.......

And no mention of trading PS for a new DB was made, at least by me.

And yes, it is a good time to buy! If you can stand the risk and have the time.

More fuel for the fire!!!

Denny

12-25-2018 | 03:17 PM

#17

badflaps

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Joined: Apr 2011

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From: retired 767(dl)

Quote:

Originally Posted by Stryder

You would be surprised at all the pilots pushing for that. Apparantly DB would be cheaper for the company than ps at this point and that is the sales pitch they are using.

You bet a DB is cheaper for the company. They have only paid a handful of "Life Time" payouts and those guys were hired in the way-back.

12-25-2018 | 03:38 PM

#18

Bucking Bar

Can't abide NAI

Joined: Jun 2007

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From: Douglas Aerospace post production Flight Test & Work Around Engineering bulletin dissembler

Quote:

Originally Posted by Denny Crane

More fuel for the fire!!!

Denny

How long you willing to wait?

Should we put our contract in a holding pattern for retirement? If so, how long should we consider going without a raise on by far the largest part of our compensation - our paycheck?

What is your number?

Is it better to take a couple incremental bites as the apple, or do you want an apple strudel with whip and a cherry on top?

I am figuring those who put retirement as their #1 concern probably have the greatest risk of hitting age 65 (or a medical) and getting nothing.

Don't have a real hard opinion myself. Interested to read what advocates are thinking.

12-25-2018 | 03:48 PM

#19

CoconuTelegraph

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Joined: Jun 2018

Posts: 27

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Quote:

Originally Posted by Denny Crane

First of all........Merry Christmas!!!!

Now, to throw gasoline on the Retirement fire (debate)............

Denny

Everyone forgets that the worst economic recession since the Great Depression, 2008-2009, recovered in three years. All equities bought during that time were purchased at a discount. Dollar cost averaging is far better than a company sponsored pension plan that can go down with the company. I’ll take a 401(k) that I’m in control of over any company sponsored pension plan any day. Merry Christmas!