News on the new Skywest pay package
07-22-2017, 04:16 PM
#1054
Gets Weekends Off
Joined APC: May 2009
Posts: 2,035
Originally Posted by amcnd
3 year line captain full year as Captain averaging 95hrs (in the 700, thats the mid point 200vs 900. ) plus perdiem plus Bonuses =W2 would be 97,900.
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.
07-22-2017, 05:32 PM
#1055
Gets Weekends Off
Joined APC: Jan 2009
Position: 737 right
Posts: 285
Originally Posted by amcnd
I lucky started when i was in my early 20's. Have always only done the company match.+ $100 a paycheck . glad i took the advice of senior guys back then. Im in my mid 40's now. And will be very set at retirement. Even compared to my friends that left for the majors, I'm ahead of them money wise if i stay here at OO...(they did go through a 5-8 year bouncing around tell recall though.)
07-23-2017, 06:01 AM
#1056
Gets Weekends Off
Joined APC: Oct 2014
Position: Retired from APC.
Posts: 507
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.
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.
07-23-2017, 06:27 AM
#1057
Gets Weekends Off
Joined APC: May 2016
Posts: 1,609
Originally Posted by FTFF
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.
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.
07-23-2017, 08:12 AM
#1058
Gets Weekends Off
Joined APC: Oct 2014
Position: Retired from APC.
Posts: 507
Originally Posted by Pedro4President
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.
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.
07-23-2017, 11:42 AM
#1059
Gets Weekends Off
Joined APC: Mar 2016
Posts: 1,111
Originally Posted by Pedro4President
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.
07-23-2017, 10:47 PM
#1060
Gets Weekends Off
Joined APC: Sep 2006
Position: ERJ CA
Posts: 1,082
Originally Posted by Paid2fly
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.
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