View Poll Results: Who has the best retirement ?
UAL
14
4.08%
DAL
21
6.12%
AAL
8
2.33%
JetBlue
8
2.33%
Frontier
6
1.75%
Spirit
16
4.66%
Alaska
5
1.46%
Southwest
8
2.33%
FedEx
164
47.81%
UPS
93
27.11%
Voters: 343. You may not vote on this poll
POLL - "best" retirement - which major?
06-28-2021, 09:17 PM
#21
Gets Weekends Off
Joined APC: Nov 2012
Position: 1900D CA
Posts: 3,392
FedEx aside (it's not likely to get hired there anyhow)
All the passenger airlines pretty much have the same retirement plan. 14 to 16% DC fund.
It matters more how much you make and how you invest it. Don't worry about which airline to go to. Go to any of them and then make smart financial decisions when you get there. A lot of pilots don't do that part well.
Stay married to the first one
Contribute the max you can to the 401k (19,500)
invest in low cost index funds
don't pay an investment advisors fee for 30 years
enjoy your life.
All the passenger airlines pretty much have the same retirement plan. 14 to 16% DC fund.
It matters more how much you make and how you invest it. Don't worry about which airline to go to. Go to any of them and then make smart financial decisions when you get there. A lot of pilots don't do that part well.
Stay married to the first one
Contribute the max you can to the 401k (19,500)
invest in low cost index funds
don't pay an investment advisors fee for 30 years
enjoy your life.
06-28-2021, 09:22 PM
#22
Occasional box hauler
Joined APC: Jan 2018
Posts: 1,676
Originally Posted by Aero1900
FedEx aside (it's not likely to get hired there anyhow)
All the passenger airlines pretty much have the same retirement plan. 14 to 16% DC fund.
It matters more how much you make and how you invest it. Don't worry about which airline to go to. Go to any of them and then make smart financial decisions when you get there. A lot of pilots don't do that part well.
Stay married to the first one
Contribute the max you can to the 401k (19,500)
invest in low cost index funds
don't pay an investment advisors fee for 30 years
enjoy your life.
All the passenger airlines pretty much have the same retirement plan. 14 to 16% DC fund.
It matters more how much you make and how you invest it. Don't worry about which airline to go to. Go to any of them and then make smart financial decisions when you get there. A lot of pilots don't do that part well.
Stay married to the first one
Contribute the max you can to the 401k (19,500)
invest in low cost index funds
don't pay an investment advisors fee for 30 years
enjoy your life.
06-28-2021, 09:32 PM
#23
Gets Weekends Off
Joined APC: Nov 2017
Posts: 2,099
Originally Posted by Reese
What’s the worth of your pension retirement when your spouse/you die at age 70? $0
whats the worth of your DC/401k/IRA/cash over cap money/accounts when your spouse/you die at age 70? Potential millions
id take the money today, vice a big ole I.O.U. 20-30 years from now in retirement.
fedex/UPS are no more bullet proof than Pan Am/Northwest/United/American. There have been dozens+ of industry tightens and their respective pensions that nobody thought could/would fail. With modern tech/speed of innovation, you’re taking a pretty big gamble. Might pay off, might not.
So if I had it my way, I’d take my bird in the hand(B fund money in MY name), vice the two in the bush (IOU).
And I’m a FedEx guy who says let the A plan die and show me the 25% B fund/cash over cap!
whats the worth of your DC/401k/IRA/cash over cap money/accounts when your spouse/you die at age 70? Potential millions
id take the money today, vice a big ole I.O.U. 20-30 years from now in retirement.
fedex/UPS are no more bullet proof than Pan Am/Northwest/United/American. There have been dozens+ of industry tightens and their respective pensions that nobody thought could/would fail. With modern tech/speed of innovation, you’re taking a pretty big gamble. Might pay off, might not.
So if I had it my way, I’d take my bird in the hand(B fund money in MY name), vice the two in the bush (IOU).
And I’m a FedEx guy who says let the A plan die and show me the 25% B fund/cash over cap!
Well, if we are now going to talk about what we would like to have, I rather have BOTH a pension and a BIG B fund. But I feel it’s kind of silly to feel you shouldn’t go to an airline with an active pension because it may go away some time in the future. You can still max out your 401k at the two airlines with active pensions.
06-28-2021, 10:03 PM
#24
On Reserve
Joined APC: Sep 2015
Posts: 16
Originally Posted by tnkrdrvr
I 100% concur with the be smart with what you got plan. I 100% disagree with the defeatist attitude that you can’t get hired at the company you think is best. Investment advisors will charge you tens of thousands over your career to tell you something any slightly above average idiot can figure out. We don’t need to be rocket scientists to retire comfortably and provide a nice chunk of change to our heirs.
06-29-2021, 03:58 AM
#25
Gets Weekends Off
Joined APC: Nov 2012
Position: 1900D CA
Posts: 3,392
The problem with advisors is two fold. 1) they typically charge a 1% annual fee. Over the long term that fee adds up to a scary amount
2) they typically like to invest in funds that have high fees! They can't justify their existence by just putting you in a low cost index fund (as they should) so they pick fancy funds with high fees so you end up paying double fees.
Say you pay them 1% and they invest you in a collection of funds that average another 1% fee, you will be losing 2% of your returns. Over a 30 year career it will cost you nearly half your investment returns!
So, FedEx vs United or Frontier isn't nearly as important as making sound financial decisions
2) they typically like to invest in funds that have high fees! They can't justify their existence by just putting you in a low cost index fund (as they should) so they pick fancy funds with high fees so you end up paying double fees.
Say you pay them 1% and they invest you in a collection of funds that average another 1% fee, you will be losing 2% of your returns. Over a 30 year career it will cost you nearly half your investment returns!
So, FedEx vs United or Frontier isn't nearly as important as making sound financial decisions
06-29-2021, 04:14 AM
#27
Gets Weekends Off
Joined APC: Nov 2012
Position: 1900D CA
Posts: 3,392
Originally Posted by nuball5
We’re all incredibly luckily for what we have. My wife works at a large consulting firm that matches 6%.
06-29-2021, 04:50 AM
#28
Gets Weekends Off
Joined APC: Dec 2005
Posts: 8,898
Originally Posted by Gone Flying
Yeah. FDX and UPS are probably the best.
AA, UA, DL, and Jetblue all have a 16% DC into a 401K
Alaska, Hawaiian, and Southwest are 15%
NK and F9 are 14% now upping to 15% next March.
so not that much variation outside the big 2 cargo carriers
AA, UA, DL, and Jetblue all have a 16% DC into a 401K
Alaska, Hawaiian, and Southwest are 15%
NK and F9 are 14% now upping to 15% next March.
so not that much variation outside the big 2 cargo carriers
The first ~300 or so guys are still pension plan guys. The next ~800 or so are rebalanced guys, people that are partial pension and partial 401K. Those hired since ~2010 are fully 401K guys only. I believe it’s the only pax carrier left with some guys scheduled to get a pension.
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