Airline Pilot Central Forums - Contract extension

Quote:

Originally Posted by Swedish Blender (Post 2986863)

IMO, they weren’t retiring anyway. If they had gone to any of the retirement shows put on by the union or had any common sense, they wouldn’t have been that exposed to the recent drop. You don’t leave that much in the stock market when you are close to retiring.

Quote:

Originally Posted by MoosePileit (Post 2986875)

Red Zone is 5 years to pulling retirement. IF this caught them they were not ready. Will likely pull less than 18 checks in retirement. Suggest the 20 year annuity A plan.

Logically speaking yes, you’re correct.
However, I wonder how many of our retirees actually follow such “common sense” advice?

I bet many stay heavily invested in stocks.. In the last few years I’ve flown with 6 guys/gal who’re within a couple of years of retiring. I picked their brains about their retirement plans and to my surprise all but one had a large portion of their retirement savings ‘parked’ in stocks. They’re willing to take a risk because they had backup income (pension, IRAs and in one case military retirement).

This mindset is probably more common than we think. By the way, I’m not criticizing them, it’s entirely their prerogative. Just highlighting the idea ‘early retirement’ numbers might change because of the stock market drop.