Minimum Balance Plan
11-16-2022 | 07:23 AM
#271
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Joined: Mar 2015
Posts: 13,223
Likes: 670
From: ir.delta.com
You're not understanding that most pilots hired in the last 15 years have no interest in "guaranteed returns," pensions, deferring taxes, or some third party entity managing our money. We have never seen this type of thing work out well.
Most of us expect (hope) to be in roughly the same tax bracket in retirement as we are now. We also are fairly certain tax rates will actually be higher by the time we retire. That's why we want to pay taxes now.
Most of us expect (hope) to be in roughly the same tax bracket in retirement as we are now. We also are fairly certain tax rates will actually be higher by the time we retire. That's why we want to pay taxes now.
11-16-2022 | 07:28 AM
#272
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Joined: Mar 2015
Posts: 13,223
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From: ir.delta.com
We are all for it if it's optional, just like we are all for world peace without war. It won't be optional. Having a MCBCP if you choose to overfund is a good ting. That's not flushing cash down the toilet, that's reallocating for efficiency and tax free capital growth.
11-16-2022 | 07:29 AM
#273
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11-16-2022 | 07:32 AM
#274
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Joined: Mar 2015
Posts: 13,223
Likes: 670
From: ir.delta.com
You are already commandeering mine on behalf of the U.S. government. Congratulations by the way, and if you got 20% DC you'd have more. That doesn't happen without the MBCBP because you are effectively just asking for more wages.
11-16-2022 | 07:33 AM
#275
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Joined: Apr 2007
Posts: 5,529
Likes: 495
Why are you opposed to it then? It's overages of a few thousand per year right?
Your hobby has nothing to do with my retirement.
You can preach all you want. I was in real-estate and got out (except for a few REITs) because I didn't want the exposure and my time was more valuable to me. I hope everyone takes your and trips advice, just do it with your own earnings. You are costing us all capital appreciation and tax efficiency. I'm not interested in your situation. I'm interested in the PWA and the tax efficiency that every pilot who doesn't choose to take your advice deserves.
Your hobby has nothing to do with my retirement.
You can preach all you want. I was in real-estate and got out (except for a few REITs) because I didn't want the exposure and my time was more valuable to me. I hope everyone takes your and trips advice, just do it with your own earnings. You are costing us all capital appreciation and tax efficiency. I'm not interested in your situation. I'm interested in the PWA and the tax efficiency that every pilot who doesn't choose to take your advice deserves.
I'm not sure what exposure or workload you were concerned about that drove you out of real estate. If you ask for advice vs making assumptions you would be surprised to learn how little time is spent on a properly structured portfolio. Landlording single family value add is for people with more time than money, but that is the assumption people make when they don't know the options. Owning apartments, self storage, NNN or pooling funds to be a hard money lender are what people with pilot sized income/assets do.
11-16-2022 | 07:34 AM
#276
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Joined: Sep 2016
Posts: 8,831
Likes: 499
yes, I would have more with a higher DC percentage. There’s no reason that needs to come with a mandatory MBCBP except you saying so.
11-16-2022 | 07:37 AM
#277
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Joined: Mar 2015
Posts: 13,223
Likes: 670
From: ir.delta.com
Your stupid notion that overages aren't retirement money needs to be put to bed. Without a tax sheltered place to grow retirement funds there's no argument for more DC.
11-16-2022 | 07:38 AM
#278
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Joined: Dec 2007
Posts: 6,144
Likes: 204
Go take your excess DC and buy Municipal bonds since you're all about chasing tax shelters
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11-16-2022 | 07:39 AM
#280
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Joined: Sep 2016
Posts: 8,831
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