That's my goal Rvfanatic. At age 61 I'll have my 25 years of service towards the max pension. 4 years on property and I've already knocked out two years of my "High Five".
Plus, many things are based on your yearly earnings. Take LTD for example. It's 60% of your best 12 months in the last 36 (reduces to 50% of that after 24 months). You don't plan on being out early on LTD, but if you are then it's nice to have some financial advantages. I've seen odd things happen to folks at an early age and they always wish they done more to be better prepared for the unplanned events. As with anything there's a happy medium. Don't want to work yourself into a Heart Attack, but also want to be prepared for some odd ball LTD triggering event. |
Originally Posted by rvfanatic
(Post 3187130)
Non FDX guy here, but I enjoyed your post thank you!
I don’t want to over simplify what you’ve said but it sounds like a very reasonable long term approach to what could be a difficult job if you let it (working extra, selling back vacation, and mostly night flying). We’ve all seen what that can do to pilots and it ain’t pretty. I’m wondering with the power of compounding interest (Einstein said it was the most powerful thing in the universe) and time value of money, do some FDX guys take a shorter term sight picture and make as much as they can with the goal of financial freedom and retiring early, say 60? I’m newer in my airline career and interested in the work life balance, it seems like you took a counter cultural approach and are being rewarded in happiness, thanks! |
Originally Posted by Thrust Hold
(Post 3187271)
That's my goal Rvfanatic. At age 61 I'll have my 25 years of service towards the max pension. 4 years on property and I've already knocked out two years of my "High Five".
Plus, many things are based on your yearly earnings. Take LTD for example. It's 60% of your best 12 months in the last 36 (reduces to 50% of that after 24 months). You don't plan on being out early on LTD, but if you are then it's nice to have some financial advantages. I've seen odd things happen to folks at an early age and they always wish they done more to be better prepared for the unplanned events. As with anything there's a happy medium. Don't want to work yourself into a Heart Attack, but also want to be prepared for some odd ball LTD triggering event. |
The LTD is company paid and yes it goes until age 65. There are also optional supplemental plans offered by the union that are worth considering.
|
It's interesting to go back and read this thread as it progressed over the last year.
|
Originally Posted by BrianH
(Post 3190615)
It's interesting to go back and read this thread as it progressed over the last year.
|
Yep, I got the "Other" thread, good catch.
|
All times are GMT -8. The time now is 05:37 PM. |
User Alert System provided by
Advanced User Tagging v3.3.0 (Lite) -
vBulletin Mods & Addons Copyright © 2024 DragonByte Technologies Ltd.
Website Copyright ©2000 - 2017 MH Sub I, LLC dba Internet Brands