Those numbers matched my first nine years +/- 5K. Not including retro pay, profitsharing

did you mostly just do a 3 day each week, nothing extra? Lotsa days off?

I'm new to all of this retirement stuff, so please excuse my lack of knowledge. But 7mil in you're retirement? That seems outrageously high! Not in a bad way though...I'm just entering flight school and some of my calculations I've done have shown about 2.5-3mil in retirement. But 7? Like I said I'm really new to this so any explanation would be great. Thanks!

I tried to reply to this and my computer froze, sorry if you're getting it twice...How do you calculate 7mil in retirement? I'm still new to all of this 401k retirement stuff. Thanks!

I'd like to know too......

Maybe they used SWApA Math?

Compound interest is a powerful thing.

He said he's on the younger side, so let's figure a 30-year-old newhire who defers 10% of his income, plus the 15% (as of 1/1/19) company contribution. He'll have 35 years to build the account.

I don't have a spreadsheet so can't give you the specific math, but a $200,000 income over 35 years, with the above contributions, would have $6.5 Million in the account, assuming a 7% annual return according to this Bankrate 401k calculator. 8% return would put it over $8 million.

Hmmm, 200k as an average? Maybe if you don't have a life and pick up everything you can. I'm here the first year, live in a base and it looks like my income will be around 70-75k first year. It will be a decade or more for me to get $200,000 (basically till I upgrade).

I get that -- I'm in first year well. I said average, considering that a 30-year-old pilot hired today, upgrading in 13 years (just a guess), will enjoy 22 years of captain pay. I think $200k as an average salary over the career is a conservative estimate.

Consider that even at 88TFP per month, a 12+ year PIC at the end of this contract is making $259,395. The average over a 35-year career would thus be higher than $200K; I just picked it as a round number.

Wow. My first year on the old contract I averaged 14 days off a month and did north of 100k. Are you giving away everything?

If a new hire were to do a 110 avg on yr 5 pay (147.5 in 2019) and you can pull near $200k without counting per diem, profit sharing, etc.

I'm on 2nd yr, pick up a day trip or a 2 day a month. Usually end up with 14-16 off and live in base. I'm averaging 125/mo and will make around $160k this year without counting per diem or profit sharing.