BobZ

Todays pilot compensation snapshot isnt an accurate forecast of previous projections.

We currently have the best pwa in delta pilot history...particularly in retirement value.

Still....this is a good paying occupation comparatively speaking. Most of us oldsters looked for outside retirement security and savings because the pwa retirement security was a joke.

As a b scale pilot year one was $1800/month salary. No ot. No nothing. It didnt improve much from there.

In year 5 at 82hrs of domestic 76B i made abt $50k.

Because of the pension..self directed savings were capped at 6% of w2. And mostly without a 401k.

So it took near a decade to accumulate @100k in self directed account. And then with bankruptcy the company match in esop stock gets zeroed out in the retirement account.

So most of us had outside deals goin. My target was retire at 55-58. But divorce in my 40s reset that goal. Lol.

Early retirement is doable in a lot of cases....medical insurance is one wild card. If we restored delta medical coverage for retirees it cud remove the one big sticking point for those on the fence?

notEnuf

Dad retired at 57, not a pilot. Lives pretty well on a fixed income that doesn't keep pace with inflation so his purchasing power has steadily diminished. He has a fixed pension but the key for him was a lump sum for medical to draw on after retirement, before 65. 60% FAE for me is about $150K. $3M at 5% return annually gets me there while maintaining principle. This is the plan, along with 0 debt because the house and toys should be paid off by then. Honestly, I could go now if not for the debt and pending college x2.

Fire away.

FYI a decade at a regional and time at an LCC is my sob story. Late to have kids too because of industry uncertainty. Never had a pension, never will.

BobZ

My Dad always said its really hard to go bacwards in pay. Words of experience from a guy getting layed off with still having 5 of 10 kids at home.

A trip thru the disability ride focused the debt side of my retirement equation.

Having a savings goal is only one half....the other is to install a sunset plan on long term debt achieved at date of retirement.

This is still an unstable industry. Its better....but not immune. If one has a balanced plan of income and debt in retirement things shud work out.

JamesBond

Yeah what you say is truth regarding retirement.


I didn't do the Panda thing for the money. I have never done the LCP thing on any airplane for the money.

JamesBond

Arent you the one that keeps saying you want to leave at 58?

crewdawg

Didn't say it was impossible, in fact my plan is setup for me to retire at 55, then again I have no wife/kids, was hired young and will have a Guard retirement at 57ish (medical at 60). However, I realize that a lot could change between now and then (ref bolded above). I'm just saying that unless you have some side residual income, it's likely not in the cards for many, again ref bolded above. How many guys have you flown with that live "WELL" below their means? I often get mortified looks from guys when I tell them I drop my entire schedule and pick up what I want. Most are too scared to attempt this because they "HAVE" to have at least XXX hours (usually in the mid-high 70s). They can't even fathom having a 40-50 hour month, which I've only done because I wanted, not because I couldn't pick anything up.

Maybe I'll be proven way wrong...I hope I am.

notEnuf

Yes, and I provided my plan for scrutiny. Have at it. I am planning to have the ability to walk away at 58. Whether I do or not I can’t say, a lot will depend on mood and life outside work. I chose a lucrative career for a reason, to be able to build wealth which provides choices... and I love to fly.

Someone made a claim that it couldn’t be done.

Sniper66

Let’s hope 67 does not happen in the US
I sure know how it affected thousands younger pilots

maui vic

67 is only a matter of when , not if..deal with it..

JamesBond

I hope you are right.