Does anybody like Being an Airline Pilot?
07-05-2007, 08:11 PM
#241
Gets Weekends Off
Joined APC: Dec 2005
Position: Flight Instructor
Posts: 623
Originally Posted by molson247
I will agree with skyhigh on this. I've been finding that this job is very tough on all of my relationships - freinds, family, and now the ex-gf. Talking on the cell phone only goes so far when it's christmas, birthdays, and other special moments when you can't be there. But it's not just pilots, a buddy of mine in the ATC world experiences the same quality of life - except he has swing shifts so there is no normal. Just living the dream....
07-05-2007, 08:16 PM
#242
Self Employed.
Joined APC: May 2005
Position: Corporate Pilot
Posts: 7,119
Walmart
Originally Posted by maximaman
Many jobs in the retail business have gone backwards in pay. I used to work at a grocery store and watched as the pay got cut when are contract was renewed. My boss used to make around 75,000 back in the 80's now the most you can make is about 38,000. The department managers at the store I worked at only get 25 cents more an hour than the regular guys. Thats what happens when your forced to compete with companies like walmart or skybus.
SkyHigh
07-05-2007, 08:19 PM
#243
Gets Weekends Off
Joined APC: Jun 2007
Position: 757/767
Posts: 890
Originally Posted by JMT21
I couldn't agree more with what your saying. Putting money away while your young and living below your means is key. I think your numbers are a little off though:
$500/month for 35 years at 12% is $3.2 million as you say. Discounted back to present value assuming 4% inflation per year is $815,000. Assuming you live until 95, your retirement income will be nearly $400,000/year (thats in todays dollar and would be significantly less adjusted for inflation).
$500/month for 35 years at 12% is $3.2 million as you say. Discounted back to present value assuming 4% inflation per year is $815,000. Assuming you live until 95, your retirement income will be nearly $400,000/year (thats in todays dollar and would be significantly less adjusted for inflation).
Also in your response you said "(thats in todays dollar and would be significantly less adjusted for inflation)". When future value is expressed in today's dollars inflation has already been taken into account. It's future dollars that need to be discounted to account for inflation.
maybe you just misspoke/typed.As for the person that starts at 23 it's $7,482,556.38 with an inflation (4%) adjusted value of $2,036,700.14 . With the above assumptions that's 142K-180k per year retirement income. 7 mil..... some people must really like that perpetual car payment.
Last edited by Deez340; 07-05-2007 at 08:33 PM.
07-05-2007, 08:22 PM
#244
Self Employed.
Joined APC: May 2005
Position: Corporate Pilot
Posts: 7,119
Sales
Originally Posted by bigscrb15
But it still relys on sales.
You said you build houses, never mentioned the rentals. Now that you mention it, I understand how you can survive in the slow times. At least you were smart enough to set-up different ways to make it in a tough industry.
You said you build houses, never mentioned the rentals. Now that you mention it, I understand how you can survive in the slow times. At least you were smart enough to set-up different ways to make it in a tough industry.
SkyHigh
07-05-2007, 08:28 PM
#245
Gets Weekends Off
Joined APC: Jan 2006
Posts: 305
Originally Posted by Deez340
Uh..... actually no. 
I've rechecked and my original post was very accurate. 
I've rechecked and my original post was very accurate. I'm assuming your using a financial calculator where:
FV=$3.2 million
PMT=0
I/Y=4%
N=35
I compute a PV of about $811k. Perhaps you're using a different method?
Just out of curiosity, when you're performing your financial planning, how many years are you planning on drawing retirement funds?
07-05-2007, 08:39 PM
#246
Gets Weekends Off
Joined APC: Aug 2006
Position: 737 Right
Posts: 1,385
Originally Posted by SkyHigh
I know that you have been worried about me but all is well. Rents are actually up. Whenever the economy slows colleges fill, homes become to expensive to buy leading to more renters ect... We actually are bracing for a surge in rent prices.
Skyhigh
Skyhigh
On the rest of the planet, when there's a glut of homes available on the market, rents go down.
My parents ran a real estate company for many years. How many times have you been sued? Tell us how the phone rings off the hook and the tenants don't care if it's a holiday or midnight. Tell us how fun it is to evict someone. Tell us how great it is to have to clean out a house that's been trashed by bad renters with pets.
No wonder you miss flying.
07-05-2007, 08:43 PM
#247
Gets Weekends Off
Joined APC: Jun 2007
Position: 757/767
Posts: 890
Originally Posted by JMT21
I couldn't agree more with what your saying. Putting money away while your young and living below your means is key. I think your numbers are a little off though:
$500/month for 35 years at 12% is $3.2 million as you say. Discounted back to present value assuming 4% inflation per year is $815,000. Assuming you live until 95, your retirement income will be nearly $400,000/year (thats in todays dollar and would be significantly less adjusted for inflation).
$500/month for 35 years at 12% is $3.2 million as you say. Discounted back to present value assuming 4% inflation per year is $815,000. Assuming you live until 95, your retirement income will be nearly $400,000/year (thats in todays dollar and would be significantly less adjusted for inflation).
Originally Posted by JMT21
I feel like such a nerd for even debating this...
I'm assuming your using a financial calculator where:
FV=$3.2 million
PMT=0
I/Y=4%
N=35
I compute a PV of about $811k. Perhaps you're using a different method?
Just out of curiosity, when you're performing your financial planning, how many years are you planning on drawing retirement funds?
I'm assuming your using a financial calculator where:
FV=$3.2 million
PMT=0
I/Y=4%
N=35
I compute a PV of about $811k. Perhaps you're using a different method?
Just out of curiosity, when you're performing your financial planning, how many years are you planning on drawing retirement funds?
As far as how many years i plan on drawing funds, the answer is forever. I won't touch the principal so the interest springs eternal.
Last edited by Deez340; 07-05-2007 at 08:59 PM.
07-05-2007, 09:24 PM
#248
Self Employed.
Joined APC: May 2005
Position: Corporate Pilot
Posts: 7,119
Real Estate
Originally Posted by 1Seat 1Engine
And the rest of us are bracing for a surge of demand for pilots.
On the rest of the planet, when there's a glut of homes available on the market, rents go down.
My parents ran a real estate company for many years. How many times have you been sued? Tell us how the phone rings off the hook and the tenants don't care if it's a holiday or midnight. Tell us how fun it is to evict someone. Tell us how great it is to have to clean out a house that's been trashed by bad renters with pets.
No wonder you miss flying.
On the rest of the planet, when there's a glut of homes available on the market, rents go down.
My parents ran a real estate company for many years. How many times have you been sued? Tell us how the phone rings off the hook and the tenants don't care if it's a holiday or midnight. Tell us how fun it is to evict someone. Tell us how great it is to have to clean out a house that's been trashed by bad renters with pets.
No wonder you miss flying.
Sure real estate is a job, but I don't miss being poor. During my 16 years as a professional pilot I averaged 16K per year. Compared to what I use to have to go through I will gladly change a few toilets.
SkyHigh
07-06-2007, 08:35 AM
#249
Banned
Thread Starter
Joined APC: Jan 2006
Position: A-320
Posts: 6,929
Originally Posted by SkyHigh
Sure real estate is a job, but I don't miss being poor. During my 16 years as a professional pilot I averaged 16K per year. Compared to what I use to have to go through I will gladly change a few toilets.
SkyHigh
SkyHigh
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