Eighteen Year Restoration - Then This

[CFI A&P]

Serious question for the brain trust:

say if you had around $2 million at age 30, would you be in a position to own a plane? What kind of a/c could you justify purchasing?

let’s also assume you have no debt.

Absolutely. Is that $2M only for acquisition costs, or also to operate the aircraft? The hard part would be choosing your fetish. Hard IFR, warbirds, splash and go's, going inverted...

 

[///AMG]

Serious question for the brain trust:

say if you had around $2 million at age 30, would you be in a position to own a plane? What kind of a/c could you justify purchasing?

let’s also assume you have no debt.

If I'd had $2M at age 30, I wouldn't have been asking a bunch of people on an internet forum what to do with my money

That being said, at that age, I'd prioritize "investing" into some sort of an appreciating asset (real estate?), or into retirement savings/investments

 

[bimmerphile]

Serious question for the brain trust:

say if you had around $2 million at age 30, would you be in a position to own a plane? What kind of a/c could you justify purchasing?

let’s also assume you have no debt.

uhh, take a gander at barnstormers
if you have $2m and can't figure out if you can afford a 100k airplane I wonder how you got the $2m in the first place

 

[Pilot Fighter]

Please tell me you just forgot to type the "TW" at the end of "Yak-52".

... these interrogations are tough. My past tailwheel efforts suggest I might avoid the Yak-52TW. My ego is big but not bigger than my wallet.

 

[Pilot Fighter]

Serious question for the brain trust:

say if you had around $2 million at age 30, would you be in a position to own a plane? What kind of a/c could you justify purchasing?

let’s also assume you have no debt.

If I had $2M at 30, I would have moved to a cheap place, bought a cheap house, bought a share in a 172, and lived frugally for another ten years, allowing my $2M to grow.

Then, maybe purchase something like a Bonanza or 210.

 

[Boris Badenov]

If I had $2M at 30, I would have moved to a cheap place, bought a cheap house, bought a share in a 172, and lived frugally for another ten years, allowing my $2M to grow.

 

[Pilot Fighter]

Or, maybe I'd spend four years reading the classics.

 

[ajm757]

If I had $2M at 30, I would have moved to a cheap place, bought a cheap house, bought a share in a 172, and lived frugally for another ten years, allowing my $2M to grow.

Then, maybe purchase something like a Bonanza or 210.

10 years is a long time though! I’m big into delayed gratification, so I could see that angle to it though.

 

[🦈💜]

10 years is a long time though! I’m big into delayed gratification, so I could see that angle to it though.

See also:
Orgasm denial

 

[ajm757]

If I'd had $2M at age 30, I wouldn't have been asking a bunch of people on an internet forum what to do with my money

That being said, at that age, I'd prioritize "investing" into some sort of an appreciating asset (real estate?), or into retirement savings/investments

Let’s say the majority of it is invested in a diversified portfolio. Then a smallish part of it is a home you own. You’ll still plan on using your airline income to max out 401k, Roth IRA, and HSA. Plus you’ll get the DC contribution from your employer.

 

[NovemberEcho]

If I had $2m at age 30 I’m not sure I’d have been alive at 31. But I guess that depends if I built up $2mil or if someone just gave it to me as a birthday present.

 

[Hacker15e]

Serious question for the brain trust:

say if you had around $2 million at age 30, would you be in a position to own a plane? What kind of a/c could you justify purchasing?

let’s also assume you have no debt.

It depends on how you acquired that $2M in cash. Do you have it because of assets you own that are generating that wealth, and the $2M is you skimming some of that cash flow to buy tools for business or just toys for pleasure? If it is just cash, and you don't have cash flow assets (businesses, real estate, investment holdings), then that's where I'd put that cash.

 

[bimmerphile]

It depends on how you acquired that $2M in cash. Do you have it because of assets you own that are generating that wealth, and the $2M is you skimming some of that cash flow to buy tools for business or just toys for pleasure? If it is just cash, and you don't have cash flow assets (businesses, real estate, investment holdings), then that's where I'd put that cash.

Sounds like he's got it invested from the above post, #170. Welcome back, BTW, I feel like I haven't seen you post in a few years(?)

@ajm757 so what is the question? You want to know how to pay for an airplane with assets you own?

 

[knot4u]

If you have $2M at 30 years old and you want to blow it on a “warbird trainer” I hope you have someone you respect giving you sound conservative financial advice. $2M, sadly, isn’t what it used to be.

 

[Richman]

$2M, sadly, isn’t what it used to be.

Neither is Mars…

If I had $2m at age 30 I’m not sure I’d have been alive at 31. But I guess that depends if I built up $2mil or if someone just gave it to me as a birthday present.

Some say it’s better to burn out, than fade away…..

 

[ajm757]

If you have $2M at 30 years old and you want to blow it on a “warbird trainer” I hope you have someone you respect giving you sound conservative financial advice. $2M, sadly, isn’t what it used to be.

Even if you’re still working and continue to invest in retirement accounts…and a paid off home? What do you think is “minimum” to get into a trainer? What plane would you recommend instead?

 

[guywhoflies]

Even if you’re still working and continue to invest in retirement accounts…and a paid off home? What do you think is “minimum” to get into a trainer? What plane would you recommend instead?

Don't you still live at home? But you have a home that is paid off? Is this another hypothetical like your "Delta vs United" thread?

 

[knot4u]

Even if you’re still working and continue to invest in retirement accounts…and a paid off home? What do you think is “minimum” to get into a trainer? What plane would you recommend instead?

Your profile is blocked so I have no idea regarding your experience. If you want to get the real WWII trainer experience why not buy a Stearman first and then transition into a T-6? Both are fine investments. Then maybe you’ll be ready for a P-51 or a Corsair, with some more instruction.

 

[ajm757]

Don't you still live at home? But you have a home that is paid off? Is this another hypothetical like your "Delta vs United" thread?

I live at home but also own another home that is paid off. More of a rental property but the numbers right now makes more sense to sell it.

 

[ajm757]

Your profile is blocked so I have no idea regarding your experience. If you want to get the real WWII trainer experience why not buy a Stearman first and then transition into a T-6? Both are fine investments. Then maybe you’ll be ready for a P-51 or a Corsair, with some more instruction.

Yeah I was thinking more along the lines of a T-6, Birddog, etc. It seems like that segment of GA holds value well and even has gone up. Plus I think they're fun to fly.

Don't think I'd be able to pull of a P-51 or Sea Fury unless my investments and income shot up and I partnered with a couple of like minded people. But you never know. I've doubted myself before and things turn out ok usually lol.