regional retirement
05-08-2012 | 08:07 AM
#22
Gets Weekends Off
Joined: Dec 2005
Posts: 4,047
Likes: 20
From: 7ER B...whatever that means.
Bull.
What happens when your company loses it's contract and liquidates or downsizes until 20-year CA's are reserve FO's?
Assume social security will provide little or nothing until you are so old that you're physically disabled.
What are you going to do about medical?
You will need at least $1.2-1.5 million in today's dollars to have anything like a comfortable retirement, and that's assuming no ex-wives are involved.
And then there's the over-inflated stock-market...which is probably going to suck for about the next 25 years as boomers retire and cash out all the equities they bought in a panic at age 55. Not to mention rising oil prices.
For most regional lifers retirement will just mean another job...at least you'll probably be home every night.
The only way I can see a retirement for a regional lifer is if he starts his own business and grows into something that can either support him with income or can be sold.
Do the math on your 401k. The try it again but don't use the "historical" market return average your brokerage suggests...use something like 4% to account for the boomers shifting out of equities over the next couple decades. Don't forget inflation!
What happens when your company loses it's contract and liquidates or downsizes until 20-year CA's are reserve FO's?
Assume social security will provide little or nothing until you are so old that you're physically disabled.
What are you going to do about medical?
You will need at least $1.2-1.5 million in today's dollars to have anything like a comfortable retirement, and that's assuming no ex-wives are involved.
And then there's the over-inflated stock-market...which is probably going to suck for about the next 25 years as boomers retire and cash out all the equities they bought in a panic at age 55. Not to mention rising oil prices.
For most regional lifers retirement will just mean another job...at least you'll probably be home every night.
The only way I can see a retirement for a regional lifer is if he starts his own business and grows into something that can either support him with income or can be sold.
Do the math on your 401k. The try it again but don't use the "historical" market return average your brokerage suggests...use something like 4% to account for the boomers shifting out of equities over the next couple decades. Don't forget inflation!
05-08-2012 | 08:29 AM
#23
Gets Weekends Off
Joined: Oct 2006
Posts: 410
Likes: 0
From: Right Seat... Forever
I just finished reading "Fate Is The Hunter" by Gann. Interesting how applicable the book is even to today. In the game of flying you are on your own. You will probably retire broke or with little money to live on, especially if you are (were) married. Almost nobody has retirement, and even if you do a Congressional committee will decide that you earned enough in your working life anyway and don't deserve what was promised to you while shooting approaches to mins during an east coast winter or limping a hobbled ship with 75 people to a safe landing. You are on your own. Save what you can and hope that you work long enough to live off of it.
05-08-2012 | 08:58 AM
#24
Gets Weekends Off
Joined: Apr 2006
Posts: 205
Likes: 0
As a five year FO at "legacy" XJT, I am 100% vested in a 401(k) with a 5% match and a defined contribution (put in by the company with no obligation on my part of 4%.
So even if I only contribute 5%, I have 14% going into the T. Rowe Price account. It's not too bad.
It doesn't get TOO much better with seniority--at year 20 I'd be at 6% defined and 6% match.
As with all things contractual, out retirement is always in danger of being taken away--so it's important to spread accurate info.
So even if I only contribute 5%, I have 14% going into the T. Rowe Price account. It's not too bad.
It doesn't get TOO much better with seniority--at year 20 I'd be at 6% defined and 6% match.
As with all things contractual, out retirement is always in danger of being taken away--so it's important to spread accurate info.
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