Quote:
Originally Posted by C402B
A relative of mine passed away recently. I stand to inherit some money. I currently have a PPL and have struggled to continue with my flight training because of the costs involved. In a perfect world I would like to work for a Part 135 operator in about 2 years. The grand goal would be fat and happy flying in Europe living on the coast of the Med... long way away.
Flying in Europe will be hard unless you have the legal right to work there.
Quote:
Originally Posted by C402B
Option one:
Buy a house. Either live in it or rent it out. I looked at one by the airport that would make a great crash pad... I thought about running one while going to school.
Two:
Invest ALL the money.
I would suggest a combination of these two. Invest, but diversify.
Buy a house/condo/townhouse which meets these criteria...
- Likely to appreciate: Location, Location, Location. Don't buy in an area populated primarily by autoworkers, etc, etc. If you can afford to buy in a highly desirable area (waterfront, etc), it will always appreciate and will not lose too much in downturns. But now is the time to buy real estate if you can.
- You would like to live there.
- Can be rented for an amount which will provide a reasonable return on your investment (10%+). This is important since you want to be a pilot...you will likely have to move around, but you can live in your house when career permits, and rent it out at other times.
- The cost is low enough to leave a significant portion of your assets for investment. Get some professional investment advice...from someone who ONLY sells advice, and does not sell/manage investment products. That way you get unbiased advice, which you can then utilize when you hire a investment broker.
Quote:
Originally Posted by C402B
Three:
Say "Eff It" and move to Spain... work would eventually work it's way out. PS. I am not too worried about that Army crap.. I would just get transferred to the IRR.
If you really want to fly there, you will need to get the right work in europe and get established over there...but I would probably develop a plan first. If you go without work rights you will basically be on an extended vacation, burning through your cash.
Quote:
Originally Posted by C402B
Four:
Get some ratings and flight instruct until hiring picks up. Maybe buy an airplane to train in. Perhaps keep the plane and flight instruct with it??? Maybe even do a lease back or something.
Forget about buying an airplane. If you want to fly in europe some day, it will be cheaper and easier to get your ratings and some entry-level flight time in the states, so you might as well get started now.
Quote:
Originally Posted by C402B
I will more than likely finish my A&P associates degree. I have a year yet to go with that.
By all means. You have the luxury of going to school and eventually work with less financial pressure than most folks. If you approach it with the right attitude, it could actually be enjoyable. If you can work on your terms and enjoy it...that's just free money on top of what you already have.