That's good rational. Hopefully with modern medicine and health awareness you'll last much longer but the retirement gurus will say to acount for family longevity in your planning.

 

Great way to budget! Back when rona started, I remember flying with guys who were freaking out because they "had" to make 85 hours/month as a WB B to maintain their budget. I hoped I'd never end up in that situation. I upgraded for the same reason as you...less days for the same/more pay, plus spending more time in my own bed. I also like being able to drop reserve days below the min days on, which I could never do on the WB. Severely reduces usage and SC's.



Up until recently when staffing went to crap, I used to drop my entire schedule every month I bid a line. The negative day thing still kind of works but my luck hasn't been great on that lately.



Even if you do expect to live well past 65, your plan isn't a terrible one. Once we hit 65, many of us will not have the energy or the will to do some of these things like we did at a younger age. Not to mention, more of our lives will be spent on Dr visits. Unfortunately, many save and save to enjoy their "golden years," only to pass away early in those years. A few unfortunate events I've experienced in the last few years, coupled with reading stuff like Die with Zero, has changed my views on how I live my life.

 

I am in the middle of buying my "not a reservist flying king airs" house now.

Due to two years of "hearing thunder in the distance" I was able to get qualified for almost 3x what I'm actually buying.

The owner of Trident Mortgage (highly recommend them by the way. Super awesome to work with and they understand how our pay works) and I talked, and basically agreed that I'd probably end up in the range I bought even though I wss pre-approved for way more based on last two years of W2s.

While I could buy something way bigger, I wanted to live comfortably on 72 hours a month while putting 10% in retirement. But if some insanity house where I could move parents into an inlaw suite popped, we were good to go on that.

House in VA was bought so I could survive on O3 pay if another involuntary mobilization happened.

I have more money as a "do ALV and go home" Captain than a fairly contract savvy hustling FO.

And if the greenies roll? Well that's how I maxed out every retirement account, paid off my camper, and put 23k in the MBCBP

 

When you're net worth is going up 9-10% every year you stay, while you're pulling down $300-600K, getting the days off you want, staying vs drawing down your retirement principal makes retirement planning very easy - you don't have to do it right then. The number 1 improvement to having a financially healthier retirement? Work longer. The flip side is every year you stay is the best retirement gone down the drain. When you're 60+ it won't be a hypothetical concept anymore.

 

The net value of workng longer is equivalent to getting a 50-100% pay raise (depends upon salary, net worth, career progression, etc). Earning income, contributing to your retirement portfolio as well as average/typical growth, and not drawing down your retirement portfolio. SSI also goes up each year, health insurance is cheaper vs Medicaid/Medicare + Supplemental medical, etc, etc.

Talk is cheap when you're younger. Financially secure people typically get their by making long term, wise, financial decisions.

I loved the guy raging against AA 15+ years ago. In was like the movie 'Network' - "I'm mad as hell and I'm not going to take it anymore." He took earlier retirement as a Captain...to go to a 'backup plan' at 50+ (55+?). In 3-4 years of school (at 50-55!) and OJT he'd be making $100,000. Lost income? It would take him a decade to try and match the same career earnings he walked away from...working 40 hrs a week. Whoa, go back to FO and fly minimum time. Hold the best trips and drop a bunch of them. Much easier than pharmacist school. Fast forward he retires. Two weeks later I'm having lunch with my best friend in DFW and a friend of his is there also. We sit togehter. Never met the guy before. He gets a phone call and excuses himself. Comes back "buddy just quit/retired. That was his wife. Two weeks into retirement and it's hitting home....'we're afraid we don't have enough money.' I tried to get him to calm down but he wouldn't listen."

The high drama individuals was my first thought when I heard about the Boeing 'whistleblower.' They get on their horse and every windmill is the enemy.

 

#1 Captain in the bid status back in 1991/1992. Retiring a year early at 59. Costing him $100,000 back then. $220K today. "Every male in my family, grandparents, father, uncles, cousins, has had a life altering heart attack at 62-65. I'm in better health but I might only have 3-6 healthy years ahead of me. I'm done."

 

Best friend worked average line hours, or occasionaly less. I always hustled. Max'd out 401K for 32 years. He didn't. My net worth is maybe 33%-50% higher? Lots more options with that much greater net worth.


Different strokes for different folks.

 

I don't see myself retiring early. I really enjoy my job and if I still feel this way and am healthy enough, I'll continue doing it until I'm forced to retire.

That doesn't mean I have to work every hour possilbe until I get there. I'm set to have a pretty good retirement by most people's standards without having to do that. My yatch at age 67 may be smaller than yours at age 67, but how many people can say that even have a small yatch?


Having said that, I'm quite glad there are pilots out there that feel the need to pick up every last bit of flying. I don't intend to talk you out of it. Makes what I want to do easier.

 

I really agree with your sentiment but as a fellow yachtsman, yacht

 

Thank you, I couldn’t figure out what a yatch was.