Does anybody like Being an Airline Pilot?
07-05-2007, 04:53 AM
#211
Self Employed.
Joined APC: May 2005
Position: Corporate Pilot
Posts: 7,119
Here one
Originally Posted by Deez340
Adjusted for todays dollars and assuming an average of 4% inflation of the next 35 years the numbers are 1.15 mil with retirement income of 80k-100k per year. again that's today's dollars and only 500 per month. You should be able to do much more than that with matching funds and proper budgeting. your example of your parents house is an isolated case of inflation/appreciation in one of the most expensive real estate markets in the world.
PS
start at 23 and it's 7.5 mil (2.1 in today's dollars) so start early and pay yourself instead of GMAC.
PS
start at 23 and it's 7.5 mil (2.1 in today's dollars) so start early and pay yourself instead of GMAC.
Take all the expenses one incurs while originating a flying career (college, flight training, interest, lost wages; my guess 150K) and consider instead of putting all that money at 18 into a mutual fund or money market account and see what it grows to by 65. Who needs to save anything if you could skip the entire profession and work as a plumbers apprentice.
It isn't that easy to save anything if you have the burden of college loans and low wages. Your premise works if you have a nice and safe office job or could get hired by UPS at 26.
SkyHigh
07-05-2007, 04:58 AM
#212
Self Employed.
Joined APC: May 2005
Position: Corporate Pilot
Posts: 7,119
Sacrifise
Originally Posted by maximaman
I actually hate Hummers, but I hear what your saying. Everyone needs money to a certain degree, but sometimes your posts come off like thats all you care about. I agree that airline pay sucks, but I don't agree with you when you say pilots sacrifice friends just for the job.
Over time you simply give up and end up going to movies alone and wandering shopping malls solo on Thursday mornings.
Skyhigh
07-05-2007, 05:28 AM
#215
Gets Weekends Off
Joined APC: Mar 2005
Posts: 1,943
This is a quick thread hijack with a question. I am not agreeing nor disagreeing with SkyHigh but his post made me think of something.
Do medical school students have any opportunity afforded to them to start saving for retirement in some way before they finish medical school? Doing all that expensive education and also having to wait until at least age 28-30 to save (and that's for someone who goes right from college to medical school) is the most extreme example of opportunity cost I can think of at this time.
Just wondered if there is any type of government aided way of them starting to save for retirement while in medical school.
Do medical school students have any opportunity afforded to them to start saving for retirement in some way before they finish medical school? Doing all that expensive education and also having to wait until at least age 28-30 to save (and that's for someone who goes right from college to medical school) is the most extreme example of opportunity cost I can think of at this time.
Just wondered if there is any type of government aided way of them starting to save for retirement while in medical school.
07-05-2007, 05:54 AM
#216
Line Holder
Joined APC: Feb 2006
Posts: 27
Originally Posted by SkyHigh
I would but everyone is probably getting very tired of hearing it. Basically I started at 16 in pursuit of my private license and went through an aviation university through all the torture of instructing and charter to end up laid off at 36 as a 757 FO.
Now I build houses and make more on each house than I did during my last two or three years combined as a pilot.
SkyHigh
Now I build houses and make more on each house than I did during my last two or three years combined as a pilot.
SkyHigh
I am in a construction related business for myself and it is extremely slow. I am actually considering going to the airliines so I don't have to deal with it anymore. Even if I am not making as much money, I can atleast have a steady paycheck and plan my lifestyle around that.
07-05-2007, 07:26 AM
#217
Gets Weekends Off
Joined APC: Dec 2005
Position: Flight Instructor
Posts: 623
I went to college but not specifically for an aviation degree. SO first your mindset has to change. You dont go to college just to get hired by an airline. You go to college to enhance your knowledge of life.
Secondly, I trained at a local FBO for all my ratings and lisences except for commercial multi so I worked a regular job as a school teacher, and Police Officer , and I served in the Army as a groundpounder while going to flight school at a private flying club, so no I didnt have to pay $100K for flight training.
I quit the police dept a few monthas ago to pursue a flying career full time. Deosnt have to be the airlines. I wouldnt mind flight instructiing, flying for Law Enforcement, flying for the FAA or whatever.
Secondly, I trained at a local FBO for all my ratings and lisences except for commercial multi so I worked a regular job as a school teacher, and Police Officer , and I served in the Army as a groundpounder while going to flight school at a private flying club, so no I didnt have to pay $100K for flight training.
I quit the police dept a few monthas ago to pursue a flying career full time. Deosnt have to be the airlines. I wouldnt mind flight instructiing, flying for Law Enforcement, flying for the FAA or whatever.
07-05-2007, 07:54 AM
#218
Line Holder
Joined APC: Mar 2007
Posts: 25
Originally Posted by SkyHigh
Pilots sacrifice the ability to maintain friendships easily. Once you are out of sync with the 9 to 5 world your life will become a lonely place. Even other pilots are difficult to socialise with since everyone has a different schedule.
Over time you simply give up and end up going to movies alone and wandering shopping malls solo on Thursday mornings.
Skyhigh
Over time you simply give up and end up going to movies alone and wandering shopping malls solo on Thursday mornings.
Skyhigh
07-05-2007, 09:06 AM
#219
Gets Weekends Off
Joined APC: Jul 2007
Posts: 157
Originally Posted by SkyHigh
I am sorry but you will have to explain that one.
SkyHigh
SkyHigh
07-05-2007, 12:46 PM
#220
Gets Weekends Off
Joined APC: Apr 2007
Posts: 187
Originally Posted by bigscrb15
What are your plans when the Housing Market crashes in your area? It has already happened here and builders are laying off hundres of employees, sitting on thousands of houses they can't sell, stopped construction in the middle of $1mil+ houses, etc.
I am in a construction related business for myself and it is extremely slow. I am actually considering going to the airliines so I don't have to deal with it anymore. Even if I am not making as much money, I can atleast have a steady paycheck and plan my lifestyle around that.
I am in a construction related business for myself and it is extremely slow. I am actually considering going to the airliines so I don't have to deal with it anymore. Even if I am not making as much money, I can atleast have a steady paycheck and plan my lifestyle around that.
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