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Retirement at age 70

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Old 12-17-2018, 07:21 PM
  #211  
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Originally Posted by rickair7777 View Post
That's what some people said about age 65, that people wouldn't stay past 60... they did.
And back when the limit was 60, lots of people said they were leaving at 57 or so, but they almost never did. I think it’s just a more emphatic way to beef about the job, with little risk.
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Old 12-18-2018, 04:31 AM
  #212  
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Originally Posted by rickair7777 View Post
That's what some people said about age 65, that people wouldn't stay past 60... they did.
I don’t blame guys who stay as long as they can. At the top of the seniority list and with tons of sick/vacation time, this becomes about be highest paying part time job there is. If you’re a widebody captain with a lot of sick/vacation time, you can probably work it to fly around 2 trips/month...
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Old 12-18-2018, 07:10 AM
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Originally Posted by MiLa View Post
I don’t blame guys who stay as long as they can. At the top of the seniority list and with tons of sick/vacation time, this becomes about be highest paying part time job there is. If you’re a widebody captain with a lot of sick/vacation time, you can probably work it to fly around 2 trips/month...
Yeah, for many of those guys it's more of a hobby. Why retire and pay to fly your own light twin when you can fly the company not-so-light twin, when you feel like it and get paid hundreds of grand to do it.

The few 60+ guys I've flown with give the impression they could hang it up any time they felt the urge.
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Old 12-18-2018, 07:19 AM
  #214  
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Originally Posted by sherpster View Post
well, just goes to show you shouldnt trust a damn thing I say. Those greedy pilots. Seriously, I really dont see people staying past 65 but I have been wrong before about a lot of things
I do. Guy retiring within six months. Has a corporate job lined up. Not my cup of tea.

But staying here past 65? The value of staying is over $600,000 a year for a G4 Captain (pay, retirement savings growth, medical<minor in the big picture).

If you're senior enough you can drop to 8 months of a trip a month, and four months of 3 trips a month, would generate $140-160K a year for a G4 CA. G4 FO would be $100-110K. Add in 401K payments and you're doing ok. The downside is you're not earning your A fund. For the more senior guys that's a significant amount ($30-50K), for the junior guys it's less of a loss.

The guy getting the corporate job might do it in a heartbeat. Who knows how many of them exist? IDK. For others it wouldn't matter and they'd retire regardless and for some it might be a month by month, or even day by day, decision.
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Old 12-18-2018, 01:42 PM
  #215  
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Originally Posted by rickair7777 View Post
Yeah, for many of those guys it's more of a hobby. Why retire and pay to fly your own light twin when you can fly the company not-so-light twin, when you feel like it and get paid hundreds of grand to do it.

The few 60+ guys I've flown with give the impression they could hang it up any time they felt the urge.
The phone conversation eavesdropped:

This is Captain G4XYZ, I am calling in sick for flight 1 today JFK to LHR.

Okay, sorry you are sick. Any idea when you will be well enough to fly?

Never.

Sounds serious. You need me to cancel the rest of your flights?

Yes, I am sick of flying as an airline pilot. Just came over me when I got up today. Send the retirement papers to my house.

Hmmmm...
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Old 12-19-2018, 06:50 AM
  #216  
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Airline flying is a GREAT post-retirement job.
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Old 12-19-2018, 07:15 AM
  #217  
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Originally Posted by Packrat View Post
Airline flying is a GREAT post-retirement job.
Post Retiremnent CFR 125 flying is even greater
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Old 12-20-2018, 08:58 AM
  #218  
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Originally Posted by MiLa View Post
I don’t blame guys who stay as long as they can. At the top of the seniority list and with tons of sick/vacation time, this becomes about be highest paying part time job there is. If you’re a widebody captain with a lot of sick/vacation time, you can probably work it to fly around 2 trips/month...
Depending on the airline, you can fly 2 trips a month without using any sick leave, earning >80 credit hours. I've done that.
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Old 12-20-2018, 08:59 AM
  #219  
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Originally Posted by rickair7777 View Post
That's what some people said about age 65, that people wouldn't stay past 60... they did.
Why retire when there's long term disability? And that's a big reason why the airlines are going to balk at further age increases.
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Old 12-20-2018, 09:34 AM
  #220  
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Originally Posted by Andy View Post
Why retire when there's long term disability? And that's a big reason why the airlines are going to balk at further age increases.
That's a very good point. Above age 60, it gets easier every day to qualify for LTD. Subjective conditions which would not be plausible at age 30 are more or less expected by age 60+
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