Age 67

Hahahahahahahahahahah I was hoping the boomer in you said this. Because I knew you would. You’re the silver brick buyer after all :bounce:

Nah. I check my 401k like once every 6 months. I’ll just let it do its thing long term.


So owning a boat means you have no money? You always stereotype people after 5 minutes of conversation or just at work?

No. Taking the overall picture in context. There were some more comments which I didn’t write out.
 
Nah. I check my 401k like once every 6 months. I’ll just let it do its thing long term.




No. Taking the overall picture in context. There were some more comments which I didn’t write out.
The whole point was because you made an ignorant comment about taking on debt with very low interest, when in todays world with our technology is massively easy to invest in. And like I said if you invested in a mutual fund, or just simply the S&P, you would never have to look at anything and let your money work for you. The same concept as your 401k.

Unless you’re a perma bear? Woe Is me, my YTD return is 13% down even though the last 3 years prior I got 71% return (not me, simply the S&P). Wtf? LOL. But 2 months ago you were flexing around your spirit shares during the discussions of mergers… AIRLINE shares! o_O

Todd was pretty much spot on. This is why people don’t take advice for investing from pilots. With our wages people would laugh at how we spend our money and have no sense of awareness about investing.
 
7580-CB7-D-F318-4-D75-9833-98-CC59-DDD9-D9.jpg
 
You know how @Derg is always saying to never take financial advice from a pilot? The above is exhibit A. Successful, wealthy people don’t pay cash for things they can get 2% loans for. Apparently this is why @Cherokee_Cruiser is always so obsessed with his 401k. He makes such terrible financial decisions that his 401k is all that he’s got.

In his defense, and I hate to do it. But I think that his thinking is probably more cultural.
 
Define afford. I can afford to do a lot of things. Doesn’t mean it’s a financially wise/sound decision.


Had a FO ask (out of the blue) what kind of boat I owned. I said I don’t have one. He was shocked. Then he showed me pics of his boat. Later in another convo he said he likes to do 100 hr credit months. I think it’s “have to” instead of “likes to.”

If working 100 hour months provides him the quality of life that he wants, then that’s none of your business.

Being able to afford something is not a complicated question. Either you have the income to cover it or you don’t. As a major airline pilot making a minimum of $150k/yr, if you can’t afford an $80k car payment, then again, you are incredibly incompetent at managing your finances.

In his defense, and I hate to do it. But I think that his thinking is probably more cultural.

I don’t allow culture to be an excuse for anything. If it can’t be defended with reason, then it’s bad culture.
 
If working 100 hour months provides him the quality of life that he wants, then that’s none of your business.

Being able to afford something is not a complicated question. Either you have the income to cover it or you don’t. As a major airline pilot making a minimum of $150k/yr, if you can’t afford an $80k car payment, then again, you are incredibly incompetent at managing your finances.



I don’t allow culture to be an excuse for anything. If it can’t be defended with reason, then it’s bad culture.

I bought two mountain bike tires yesterday:

Maxxis, DD, Max Grip DHF and a DHR, DH, Max Grip. Granted these are top of the line DH tires for racing but they were $200 on a 30% off sale. 3 years ago it would have been about $120.

Property taxes are going to kill me this year. My house was purchased 3 years ago for 595K. Hardly and extravagance. Considering I sold my home in California for 737K but King County is coming at me for 1.1 million valuation on property taxes.

All of this on no raise since 2019. I'm definitely not having a good time right now.
 
I bought two mountain bike tires yesterday:

Maxxis, DD, Max Grip DHF and a DHR, DH, Max Grip. Granted these are top of the line DH tires for racing but they were $200 on a 30% off sale. 3 years ago it would have been about $120.

Property taxes are going to kill me this year. My house was purchased 3 years ago for 595K. Hardly and extravagance. Considering I sold my home in California for 737K but King County is coming at me for 1.1 million valuation on property taxes.

All of this on no raise since 2019. I'm definitely not having a good time right now.

Your asset investment went from 595k to 1.1 million in 3 years. Congrats :) What else has provided a return like that.

Technically you’re still going down the ladder and getting a raise that way. The 12 yr guys are the ones without a legit raise since 2019. Hang in there, apparently is TA is around the corner (though I won’t hold my breath).
 
If working 100 hour months provides him the quality of life that he wants, then that’s none of your business.

Being able to afford something is not a complicated question. Either you have the income to cover it or you don’t. As a major airline pilot making a minimum of $150k/yr, if you can’t afford an $80k car payment, then again, you are incredibly incompetent at managing your finances.



I don’t allow culture to be an excuse for anything. If it can’t be defended with reason, then it’s bad culture.

I think you and I define “afford” differently. As I said, you’re looking at strict monthly payment towards a 80k car based on 150k salary. Me, I look at if it makes financial sense to do so, in that sense Max is correct culturally. I could afford to buy a Ferrari and cover its monthly payments. But it doesn’t make sense to. This is where some of us Asians look at the American culture and think dang man, some of y’all are making bad financial decisions, even if you can afford it now on paper. The entire culture here seems to be on taking on tons of debt on crap you don’t need and things you really can’t afford.
 
I bought two mountain bike tires yesterday:

Maxxis, DD, Max Grip DHF and a DHR, DH, Max Grip. Granted these are top of the line DH tires for racing but they were $200 on a 30% off sale. 3 years ago it would have been about $120.

Property taxes are going to kill me this year. My house was purchased 3 years ago for 595K. Hardly and extravagance. Considering I sold my home in California for 737K but King County is coming at me for 1.1 million valuation on property taxes.

All of this on no raise since 2019. I'm definitely not having a good time right now.

Good god, dude, you’re about to make $250k+ even as a lazy captain at a major airline. The median household income in this country is $59k. I’m all about you fighting for all you can get. But you’re already doing extremely well.

I think you and I define “afford” differently. As I said, you’re looking at strict monthly payment towards a 80k car based on 150k salary. Me, I look at if it makes financial sense to do so, in that sense Max is correct culturally. I could afford to buy a Ferrari and cover its monthly payments. But it doesn’t make sense to. This is where some of us Asians look at the American culture and think dang man, some of y’all are making bad financial decisions, even if you can afford it now on paper. The entire culture here seems to be on taking on tons of debt on crap you don’t need and things you really can’t afford.

Yes, words do mean things, and you can’t redefine them because of your “culture.”
 
Good god, dude, you’re about to make $250k+ even as a lazy captain at a major airline. The median household income in this country is $59k. I’m all about you fighting for all you can get. But you’re already doing extremely well.



Yes, words do mean things, and you can’t redefine them because of your “culture.”

I didn’t re-define words. I just said it doesn’t make sense to. So that guy with 3 kids had $0 saved for college. No 529 college fund or any other cash set aside. So I’d argue, instead of that boat payment, perhaps put something aside per month for the 3 kids’ education future.

Noticw how I didn’t redefine anything. Simply stated that he has a better course of action he could do, and that he can’t afford to have a toy like a boat while ignoring his kids’ educational fund.
 
I didn’t re-define words. I just said it doesn’t make sense to. So that guy with 3 kids had $0 saved for college. No 529 college fund or any other cash set aside. So I’d argue, instead of that boat payment, perhaps put something aside per month for the 3 kids’ education future.

Noticw how I didn’t redefine anything. Simply stated that he has a better course of action he could do, and that he can’t afford to have a toy like a boat while ignoring his kids’ educational fund.

No, as you frequently do, you’re distracting from what I was referring to in one of your posts by bringing up another post. What you said was that an airline pilot can’t afford an $80k car unless they pay $80k cash for it. That’s wrong and asinine.
 
Good god, dude, you’re about to make $250k+ even as a lazy captain at a major airline. The median household income in this country is $59k. I’m all about you fighting for all you can get. But you’re already doing extremely well.



Yes, words do mean things, and you can’t redefine them because of your “culture.”

The average person is stuck at work 160 hours a month. I’m stuck at work 300 hours a month. The numbers check out. I’d hardly call it lazy but that’s just me.


Sent from my iPhone using Tapatalk
 
Your asset investment went from 595k to 1.1 million in 3 years. Congrats :) What else has provided a return like that.

Technically you’re still going down the ladder and getting a raise that way. The 12 yr guys are the ones without a legit raise since 2019. Hang in there, apparently is TA is around the corner (though I won’t hold my breath).

I guess it’s just the ladder just doesn’t go as high as it used to. I’m also in the fun part of the ladder that levels off. The slope that has been acknowledged by everyone as needing to be fixed.

When I took out a HELOC for the strike fund the value of the house came in at 1.6

It doesn’t do me any good until I sell of course. Until then it’s just more money gone to cover the taxes which combined with interest is getting painful.

I’d like to be hopeful about a TA and I’ve heard the same rumors. However, I’d put even odds on management delaying the process as soon as the economic environment changes or attrition stops. As I would put odds on something worth voting yes on.

The rumors I hear and the sources lead me to think it’s a management strategy desperate to keep us working and picking up extra to keep the airline afloat until the inevitable downturn.


Sent from my iPhone using Tapatalk
 
No, as you frequently do, you’re distracting from what I was referring to in one of your posts by bringing up another post. What you said was that an airline pilot can’t afford an $80k car unless they pay $80k cash for it. That’s wrong and asinine.

It’s the mindset. You said rich people (apparently pilots are rich now) take 2% loans (Who’s giving 2% loans on 80k cars these days) to buy a car. The assumption being, they can take the 80k and invest it elsewhere and do better than the APR on the car. And keep raking in cash that way.

I’m not talking rich people. I’m talking people with paycheck jobs. Don’t take out a loan. Far too many people get a car loan, then end up being upside down on said loan, go get another car 5 yrs later and roll over their negative equity. It’s a pit trap.

You’re free to live by whatever rules you like. My own personal mindset rule is if I can’t pay cash for a car, then I can’t afford it. It works for me - you don’t have to believe the same. It’s a financial mindset.

You are, of course, free to make fun of me all you’d like. That I’d be stupid to put 80k into a car, instead of a 2-3% loan and then invest the 80k into another asset source that makes more than 2-3%. Sure.

But then again, I don’t have a 80k car either.
 
It’s the mindset. You said rich people (apparently pilots are rich now) take 2% loans (Who’s giving 2% loans on 80k cars these days) to buy a car. The assumption being, they can take the 80k and invest it elsewhere and do better than the APR on the car. And keep raking in cash that way.

I’m not talking rich people. I’m talking people with paycheck jobs. Don’t take out a loan. Far too many people get a car loan, then end up being upside down on said loan, go get another car 5 yrs later and roll over their negative equity. It’s a pit trap.

You’re free to live by whatever rules you like. My own personal mindset rule is if I can’t pay cash for a car, then I can’t afford it. It works for me - you don’t have to believe the same. It’s a financial mindset.

You are, of course, free to make fun of me all you’d like. That I’d be stupid to put 80k into a car, instead of a 2-3% loan and then invest the 80k into another asset source that makes more than 2-3%. Sure.

But then again, I don’t have a 80k car either.
Audi is offering 1.99% on A6 and A8 sedans on 72 month loans.

Mazda is offering 1.99/36 month loans on its 25-35k cars.
 
Audi is offering 1.99% on A6 and A8 sedans on 72 month loans.

Mazda is offering 1.99/36 month loans on its 25-35k cars.

Dang, that’s nuts. Good for them.

I still think if you need a loan for an Audi you probably shouldn’t buy it. But please, let America America itself. :)

We’d be much more screwed if Americans weren’t spending money and taking loans this year.
 
Back
Top