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I would love every pilot to do Dave Ramsey's Financial Peace University starting now, become debt free and really start their earning potential.
I will be totally debt free by 2014, and yes, that includes the house. Think of that message. I also would like our financial advisers to be more easily accessible for our free time with them. Most do not even know that time exists. |
Originally Posted by Bucking Bar
(Post 710410)
If we ever host your parents for dinner, remind me to borrow my neighbor's Cocker Spaniel for the evening.
That dog pees on the feet of strangers - gets too excited. If I peed on the feet of a UHC Exec, they'd lock me up and you would be offended. But my neighbor's dog could get away with it. :) |
Originally Posted by acl65pilot
(Post 710412)
I would love every pilot to do Dave Ramsey's Financial Peace University starting now, become debt free and really start their earning potential.
I will be totally debt free by 2014, and yes, that includes the house. Think of that message. I also would like our financial advisers to be more easily accessible for our free time with them. Most do not even know that time exists. ACL; While I think Dave Ramsey, Suzie Ormond and the rest are pretty watered down...read this as they target the financially retarded, they are a start. The message for all alpa members, not just DALPA should be --- get debt free!! This message should come from the union too, as an official policy goal. How can you enter self help as a fully leveraged airline pilot. How long can you hold out before you have to cross the line or lose your "rented" assets (these are actually liabilities). I only pay cash - for everything - including houses. It has been many years since I have cared what my credit report says because I dont use credit. I have also been divorced and had to rebuild from that re-zeroed situation. If I can do it, everyone can. Oh yeah, I'm 47. This is a super important topic that should be taught to the fiscally feeble. Scambo |
Originally Posted by RockyBoy
(Post 710405)
And if you ever have a dispute over benefits that they approve or deny, good luck. UHC tells you to talk to Delta and Delta tells you to talk to UHC. NOBODY has the ability to solve any problems and you will spend a sickening number of hours trying to sort stuff out. Makes me wish I had an option that was run by the government then I could just deal with one entity that was not trying to make a profit.
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Here is a point to ponder:
The former CEO of United Healthcare is no other than Richard Anderson. After he left NWA prior to Chap. 11. He migrated to UHC until the radiation levels were back to non life threatening levels for this industry. :) The brokerage link is a viable option for some. I have a significant IRA with a very good firm. What I am pondering doing with my DC plan is to brokerage it and follow the same path that my individual IRA is on. The only caviat is that you have to ensure, and it is not usually a problem but you will be buying institutional funds in a borkerage account that sometimes have little quirks not neccessarily listed in the bold print of a prospectus. FYI.... |
Originally Posted by newKnow
(Post 710404)
My thinking is not for me as an individual financing my retirement. Assuming good health, I will do just fine.
My thinking is for the system being set up the way it is. As I said above, it is designed to force the older pilots to stay as long as they can. Which in the long run is not the best thing for us health-wise. Would I retire with more money under a DC plan? Yes! And I will fly as long as I can to build it up. (At that point EVERYONE will be trying to fly until 65 or 70 or 75 or.....) I would have lots of vacation and lots of sick time to go with it. I would feel good. The trips would be great. I'd never have to work holidays. And the plane flies itself. I would have to be crazy to retire early. But, when I did retire, how much longer would I have? Are you telling me that you plan on retiring before you turn 65? I had planned on being able to retire at 55 when we had the DB plan. Since I did not trust DAL to manage my money when times were good, I set up my own supplemental retirement plans. I have no kids.. the same wife I started with and no toys (although I would really really like to have a big sailboat.. and if anybody is interested in a partnership.. send me a PM :D) so being able to go when I want is still somewhat doable. Under the current situation, (of course this all depends on what happens post SOC) I'd like to fly this seat for a few years, then maybe downbid to something where I am really senior. Maybe I'll throw gear for you at some point.
Originally Posted by newKnow
(Post 710404)
A protected DB plan, run by a 3rd party, set up to give incentives for pilots to retire on time could be beneficial to:
1. Older pilots: Because they can retire early and live longer. 2. Younger pilots: Because they can advance into the older pilots positions more quickly AND they become older pilots at some point, too. 3. The company: Because they don't have to pay for the older pilots benefits anymore. (Sick calls, and increased staffing required because of it, vacation, higher pay-rates, health insurance, ect.) (I heard that our over 60 s/o's in ANC were callin in sick at over a 60% clip at one point.) I think at some point the union and the company need to find a way to push us out the door earlier. It could be beneficial to us all. New K Now (And a new retirement plan, too! :D) At any rate, I do not plan on hanging around here full time till 65. I'll probably go fly a trip or two when the wife is sick of seeing me around the house. (Unless I get that sailboat) And to address one of your other points. I don't see pilots retiring early with a DB plan. Actually I think the opposite would occur. (Let's see how many of the over 60 NWA captains really go early...) Not flaming here... And I don't see sick calls dramatically reducing, because we will still be older in the more senior positions. Actually.. I don't think any of your three points are correct. JMHO. again.. not flaming.. I just don't agree with your premise. And your last statement.. I do agree. But I think the only realistic way to get us out the door early is to make it financially punative to stay longer. We are all *****s, and as long as we can make more money by staying longer, we will (I am speaking of the group) Make the pay drop by 10% for anybody over the age of 60, and they'll be gone tomorrow. (good luck with that one:D) |
Originally Posted by scambo1
(Post 710422)
The message for all alpa members, not just DALPA should be --- get debt free!! This message should come from the union too, as an official policy goal. How can you enter self help as a fully leveraged airline pilot. How long can you hold out before you have to cross the line or lose your "rented" assets (these are actually liabilities).
I only pay cash - for everything - including houses. Scambo |
Originally Posted by Selcall
(Post 710428)
Here is a point to ponder:
The former CEO of United Healthcare is no other than Richard Anderson. After he left NWA prior to Chap. 11. He migrated to UHC until the radiation levels were back to non life threatening levels for this industry. :) The brokerage link is a viable option for some. I have a significant IRA with a very good firm. What I am pondering doing with my DC plan is to brokerage it and follow the same path that my individual IRA is on. The only caviat is that you have to ensure, and it is not usually a problem but you will be buying institutional funds in a borkerage account that sometimes have little quirks not neccessarily listed in the bold print of a prospectus. FYI.... |
Anyone know if you HAVE to speak Latin to get a bid to the SEA base?
Anyone seen Delta Net's "Welcome to the SEA CPO ?" Pretty funny, whoever pulled that off. |
Originally Posted by tsquare
(Post 710324)
Who in their right mind (maybe I just answered my own question) would want a DB plan back? Have they been asleep for the past few years? Were they in a coma during BK? I'd LOVE to hear from some of you that think this would be a good idea.
Good (?) Ideas throughout History Caesar – If I can’t trust Brutus, who can I trust? The French –This Maginot line will make France impervious to German attack. Saddam – I’m safe, the Americans will never attack. (2X) Custer at Little Big Horn – Here is where I make Custer a household name! Mike Dukakis – Boy, do I look cool in this tank. Nixon – I want to be able to record anything said in the oval office. Delta Management – Wow, COMAIR is for sale? How Much? Some Delta Pilots – Hey lets try that whole DB thing again. Scoop :) |
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