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Originally Posted by CoefficientX
(Post 3435027)
Seriously? As a single father of three coming off a second furlough I can personally attest that 100k leaves no room for building up a war chest. That was over a decade ago when the dollar went farther.
Fun thread here but your quote doesn’t ring true. |
Times are great when guys are needing, and can, make $110k first year.
When it eventually crashes, as it always does, some people will be in for a shocker. Ignorance is bliss when you only know the upside of this career. |
Originally Posted by LAXtoDEN
(Post 3434397)
I’d take a loan against my own 401k. The interest rate is around 5%. They should be able to pay back the difference in less than 3 years.
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Originally Posted by itsokimapilot
(Post 3435111)
I believe there’s a stipulation that your 401k loan has to be from the current employer’s 401k program. If you’re no longer working there you have six months to pay it back or pay a penalty.
Roll what you need into your new employer then do the loan. |
Originally Posted by CincoDeMayo
(Post 3435097)
Times are great when guys are needing, and can, make $110k first year.
When it eventually crashes, as it always does, some people will be in for a shocker. Ignorance is bliss when you only know the upside of this career. Seriously? If a child born today can't get a $1m/yr new-hire job before he retires then pay isn't keeping up with inflation. |
Originally Posted by fadec
(Post 3435120)
Seriously? If a child born today can't get a $1m/yr new-hire job before he retires then pay isn't keeping up with inflation.
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Originally Posted by itsokimapilot
(Post 3435111)
I believe there’s a stipulation that your 401k loan has to be from the current employer’s 401k program. If you’re no longer working there you have six months to pay it back or pay a penalty.
Originally Posted by fcoolaiddrinker
(Post 3435119)
Roll what you need into your new employer then do the loan.
Worst case, like I said, cash out the new 401k and eat the penalty. |
Originally Posted by CincoDeMayo
(Post 3435097)
Times are great when guys are needing, and can, make $110k first year.
When it eventually crashes, as it always does, some people will be in for a shocker. Ignorance is bliss when you only know the upside of this career. |
Originally Posted by Joachim
(Post 3435164)
a Honda Accord starts at $40k out the door today. The average home is quickly approaching $400k and is even more expensive in many airline bases. 100k for an adult person with adult responsibilities isn’t much at all. You can make that sort of money doing unskilled work. The post has been moved quickly and we as a profession aren’t doing ourselves any favors by admonishing folks who cant make it on $20/hr like we’d like to remember we could.
You realize you can comprehend these are good times, and also realize the industry has a history of kicking pilots in their nuts while enjoying the good times. Starry eyed is great until it isn’t. And check the tape, I didn’t admonish anyone, simply pointing out how good things are currently that this is a barrier to entry for some people. |
Originally Posted by CincoDeMayo
(Post 3435022)
It’s because he is spending so much money taking everyone’s moms out
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