American Eagle: A Career Airline

WacoFan said:
How safe to you think it is to be looking at the pension provided by Delta, AirTran or particularly UAL? You have seen pensions stripped in bankruptcy at other carriers, so how much are you counting/planning on it? Do you create your personal financial plan BASED upon the pension, or do you plan as if it may or may not be there and if it is then its gravy?
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I would never plan on an A-Fund pension, since current pension and bankruptcy laws allow them to be stripped away far too easily.

However, the above-mentioned carriers all have B-Fund pensions and 401k accounts, both of which are in the pilot's own name and cannot be taken away in bankruptcy or through any other proceeding. The only question is how wisely you invest your money.
 
I was using the calculators on my T Rowe Price retirement account yesterday. I typically don't like talking about personal finances online, but as an example for this thread I will.

I contribute 8% of my income into a 401(k), and another 4% into a Roth IRA. The company matches half of that 8%, and puts another 2.5% in on top of it. That will all go up this August when I hit my six-year mark. If I stay at XJT, and keep putting in the same money, my estimated retirement is $2.32 million. That's not too shabby if you ask me.

If I end up changing careers, I think I'll still fund a 401(k) and IRA as a backup to a pension, since we've seen those go away. I also hope to retire by age 57-59. The hell with working 'til I'm 65...
 
The problem with all these online calculators is they assume an average return of say 8% per year. Warren Buffett was quoted saying something to the effect of "if you think the stock market will perform in the future like it has in the past that puts the DOW at XXX,XXX points". Can't remember the numbers but basically he said no such luck in his opinion.

The stock market is a huge house of cards, the only thing that makes it go up is more people buy in than sell. No tangible value what so ever. Thats why it can fall 50% in so a short time frame.
 
ZapBrannigan said:
I have to fly on Eagle tomorrow so I sincerely hope that the flight crew both have 5000+ TT, and were furloughed TWA (or other reputable 121) or former freight dogs.
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I sincerely hope you are only joking and not that clueless. Eagle is has 10 upgrades with the top two-thirds of their seniority list at 15 years+. The amount of experience there is only matched by the amount of angst given by their 8,000 hour FOs living on 40,000 a year after 6 years in the right seat.
 
ATN_Pilot said:
You can use a 401k calculator at many of the different financial sites on the web. The numbers to use from the individual pilot contracts are:

DAL - 10% B-Fund contribution, and 2% non-elective 401k contribution
UAL - 9% B-Fund contribution, and 7% non-elective C-Fund contribution

In other words, Delta contributes 12% of a pilot's income to his retirement without the pilot contributing a dime, and UAL contributes 16%. The reason the numbers come out the same in the end despite the big difference in contributions is UAL's much lower pay rates.



I had $17,000 in my 401k when left Pinnacle at the age of 24. I'm single, but I'm also a pretty big spender.
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but you had to spend 40000 for a right seat at gulstream so in the long run you still pay to fly or have you paid all your debts??
 
Todd, I just wanted to say that I personally appreciate the way that you handle the continued Gulfstream jabs. We both know that you made your bed and now you have to lay in it, but I'll give you credit for standing up and taking your medicine without complaint. :beer:

On a related note I'll also tell you publicly that I've noticed your overall posting style over the last few months has been more in line with Doug's Living Room (tm) guide lines. More reasoning + less venom = better communication. In the past I gave you grief for overly venomous posting, so now I'll give you kudos for making strides in turning that ship in a different direction. I've said it in the past, I'll say it again now: I (and I think the others as well) try not to moderate this site based on message, but on delivery. It's not what people say, but how they say it that gets them in trouble (PG-13 guidelines notwithstanding).

To the regulars around here re the Gulfstream topic: he screwed up, he admits it, he owns it...do we really need to rub his nose in it all the time? Maybe limit the Gulfstream jabs to topics that are pertinent? Or maybe cut back to once a month or so just to keep him humble? On second thought, once a month probably wouldn't suffice for that... :D
 
He's still off my jummpppseeeeat!!! :D

On a serious note, have to respect a man who has fine taste in steak......
 
SteveC said:
On a related note I'll also tell you publicly that I've noticed your overall posting style over the last few months has been more in line with Doug's Living Room (tm) guide lines. More reasoning + less venom = better communication. In the past I gave you grief for overly venomous posting, so now I'll give you kudos for making strides in turning that ship in a different direction.
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Having been a full-time politician for the past year and a half has probably taught me some restraint. Hopefully I haven't gotten too soft, though. ;)

MikeD said:
On a serious note, have to respect a man who has fine taste in steak......
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Just had a great surf and turf at the Capital Grille on Pennsylvania Avenue last week. Marvelous! :rawk:
 
ATN_Pilot said:
Having been a full-time politician for the past year and a half has probably taught me some restraint. Hopefully I haven't gotten too soft, though. ;)
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I know we've had our differences too, but I have to say +1 to Steve's comment. For all ALPA's issues & politics, I do have respect for the people like you who are there working and trying to make things better.
 
SteveC said:
To the regulars around here re the Gulfstream topic: he screwed up, he admits it, he owns it...do we really need to rub his nose in it all the time? Maybe limit the Gulfstream jabs to topics that are pertinent? Or maybe cut back to once a month or so just to keep him humble? On second thought, once a month probably wouldn't suffice for that... :D
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He enjoys the tolerence that he refuses to give to others. Guys from Skybus, Freedom, etc are persona non grata in his eyes. He graciously accepts your forgiveness, but refuses to forgive others. What has he learned?
 
skydog2 said:
He enjoys the tolerence that he refuses to give to others. Guys from Skybus, Freedom, etc are persona non grata in his eyes. He graciously accepts your forgiveness, but refuses to forgive others. What has he learned?
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Evidently you haven't read my posts. I'm willing to forgive anyone that admits fault and decides to change things. I've taken a bit of heat from some people here because of my statements that I have no problems forgiving even a scab if he is truly sorry for what he did. People make mistakes.
 
skydog2 said:
He enjoys the tolerence that he refuses to give to others. Guys from Skybus, Freedom, etc are persona non grata in his eyes. He graciously accepts your forgiveness, but refuses to forgive others. What has he learned?
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Is this necessary?
 
MQAAord said:
ATN_Pilot said:
Having been a full-time politician for the past year and a half has probably taught me some restraint. Hopefully I haven't gotten too soft, though. ;)
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I know we've had our differences too, but I have to say +1 to Steve's comment. For all ALPA's issues & politics, I do have respect for the people like you who are there working and trying to make things better.
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oh whatever:laff:
 
Todd is wrong about Democratic politics and policies, User fees for GA, and Danica McKellar.

Other than those issues (the last of which is irreconcilable and will keep him off my jumpseat) I admire the way he takes the jabs. Takes a lot of guts to admit what you did, and still come out the way he does. Bravo.


(and if you reply with "butterface" I promise I will hit you in the nose at NJC)
 
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