Originally Posted by mispoken

I think this should be mandatory viewing....

https://www.pbs.org/wgbh/frontline/film/retirement-gamble/

Big take away, 60% of wealth is destroyed by a 2% underperformance over 50 years.

As we debate minimum balances, claims to assets in bankruptcies, tax savings, custodians and management firms always keep in mind that this plan will DESTROY wealth as it will most certainly underperform and come at a high cost. Even if the company “pays the fees”, we will ultimately be the ones paying the fee, even if it’s indirectly.

Originally Posted by RonRicco

I would suggest you call a rep and ask specifically how the “min balance” would work and how much it is per pilot. I did.

Originally Posted by mispoken

Hedge fund managers aren’t the answer. Money managers aren’t the answer. I challenge you to find me a list of money managers and hedge fund managers that have outperformed the S&P 500 over a statistically significant period of time. I’m not saying they don’t exist, but they’re outliers. I’m not saying it’s impossible, but it’s not probable. I suspect some till mention the oracle of Omaha but We aren’t going to get Warren Buffet to sit down with us to discuss money management. The onus is on us as individuals to learn about money management and the simplicity of investing. This is something our society has completely failed to do for generations. Until this becomes a major part of our educational curriculum, it won’t change and we will beholden to the crooked financial industry that we have created today. That system is not there to make us wealthy, but the advisors, partners and executives and they do so by collecting fees from the layman who thinks it’s too difficult or can’t be bothered to learn and instead prefer to spend their time building their NCAA brackets. It is for this reason that those who take money management and investing very serious will be hindered at generating real wealth due to the tail wagging the dog that is this “tax deferral” plan that is being proposed. It’s quite simple; if you aren’t risk averse, invest as you see fit. If you are risk averse, invest in a bond fund or a broad index fund and do so mechanically. It’s really that simple, but we seem to ignore the beauty and simplicity of this system in large part due to financial institutions feeding us the most confusing and complicated plate of information that they can so that we throw our hands up and say “you take care of it” and defer to their “expertise”. This mentality is the true barrier to wealth creation, not taxes and no MBCPB or some other hybrid of it will fix that.

The good news is that we DO have access to the systems and resources that CAN make us wealthy and it can be done so quite cheaply. All it takes is some self education on the subject and discipline. I for one have no interest in being penalized due to others not having the determination to sit down and truly educate themselves on how to do it.

Originally Posted by Scoop

What is a mere line puke such as myself to think?

Scoop

Originally Posted by BobZ

... i just dont think its a good long term deal for the entirety of the group.

Originally Posted by Scoop

Dude,

One word, “paragraphs,” they are your friend.





Scoop

Originally Posted by Scoop

What totally fascinates me about this thread is the divergent views of Denny Crane and Bobby Z. Both highly distinguished DAL Pilots in the twilight of their careers. Both sage and wise individuals who I personally know and respect.

If these guys can come out on totally opposite sides of this issue I am left scratching my head. These guys are both from the same demographic, are both wise beyond their years, and yet they totally, yet thankfully respectfully, disagree.

What is a mere line puke such as myself to think?

Scoop