FFS, new pilots now days can't even write a short paragraph. Ugh

The same could be said for using acronyms in a sentence.

I realize that, however, I had a hard time coming up with anything more appropriate at the time...

Maybe if you're in SLC... There are many that rarely if ever get the opportunity to fly the 7 or 9. Please stop chugging your Kool-aid.

I worked at Toys R Us through high school and college. I was allowed to enroll in the 401k at 17. I contributed what they matched, they had some really good years when I was there. They would also put in the financial rewards. Now at 35 that little bit of money has given me a fairly sizeable roth IRA. I have also contributed what SkyWest matches from day one plus a little extra. Even if I stay at SkyWest retirement should be fairly nice.

Hi guys,

Sorry to crash your thread but I was searching for 401K info and read thru the last few pages. Just wanted to comment to the youngins: I did, on average, about a 4.5% contribution when I was at the regionals which was matched at different rates while I was there. I also carried in some small 410K balance from my flight instructor days. After 13+ years at the regionals (I was part of the lost generation) I rolled over a little more than $100K into my UPS 401K. So yes, even a tiny bit adds up over time. One thing that was ubiquitously stressed my first year at Brown was to always max out the 401K. That mentality went so far as to even suggest taking a loan year one to ensure maxing it out (we have industry losing year 1 pay). Looking back I wish I had done at least 10% from the first day I worked, graduating to max-out a couple of years after upgrade. The guys who did are now looking at early retirement whilst I'll have to play catchup and work more years. Anyway, something to consider.

Best of luck to you guys.

Although I would never advocate taking a loan out for first year pay the rest of the info is spot on. Contribute EARLY and consistently is the only trick when it comes to building a retirement fund. Also, if you have no idea what to invest in then I would go with the advice of Warren Buffet. Research what he says about low cost S&P 500 index funds.

I did a target retirement fund for my regional years. All over index funds now.

If you run math for taking out an $18K loan vs skipping a 401K year and looking down the road 10, 20, 30 years with just that 1 year of 18K it's a no brainer:

After 10 years: 401K value = $29,250 vs $0
20 years = $47,759 vs $0
30 years = $77,794 (minus loan interest fees) vs $0

*401calculator.org
*5% annual rate of return

Kicking myself for not doing it. Had a home equity line, probably wouldn't have cost me more than a few hundred dollars in interest fees. Regardless, I just wanted to encourage the younger guys and gals to get on it even though the pay sucks at the beginning. Your older self will thank you.

I just have mine set up to contribute to the Wells Fargo fund SkyWest automatically suggests based off your retirement year.

I can assure you there are no 3rd-year captains in SLC....