Paying down debt vs. investing

SFLAX said:
That is all great, now factor in, income, living expense, kids, and maybe a okay job for the wife. And don't forget, 100k, is a little light on a 3 bedroom in a good school district. Don't forget the flying debt. I would love to put money away like that, but we are pilots and life has far exceeded our pay.
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$400/month is hardly unrealistic for anyone to put away. You could do BFRs private-owner students for ONE DAY a month at $50/hour and make an extra $400.

But the numbers I ran were for the purpose of demonstrating that the $400/month is far better spent on a Roth IRA than paying down mortgage principle.
 
SFLAX said:
Great idea, but if I paid myself first, the people I owe would take it. I believe how can you invest at 8% ROI, while paying off CC debt or other high interest stuff. Now for mortgages and other low interest long term loans, I plan on accelerating my pay off. But that's just me.
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SFLAX said:
That is all great, now factor in, income, living expense, kids, and maybe a okay job for the wife. And don't forget, 100k, is a little light on a 3 bedroom in a good school district. Don't forget the flying debt. I would love to put money away like that, but we are pilots and life has far exceeded our pay.
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It sounds like you don't understand how money works and you've made some bad choices in life.
 
I do know how money works, And I guess your right I made some bad decisions , like working for a fractional that went out of business and got furloughed after 6 years, watching old dudes over 60 not get out of my seat, watch as the two planes I worked on we're repod by the banks, working as bus boy with a college degree in accounting, my CPA, and going to interviews and gettig nothing as 100s of people with more current experience got them, because there were 1000s of pilots and CPAs on the street. Worked so my ass off looking for a flying job, doing as much contract work as I could so my little boys could have something. Networking and keeping my record clean for 10 plus years. I guess I must of made some mistakes, screw you. Good thing all that paid off, as I run my own show now, and I got a great job and getting my life back on track. I have always paid it forward, helped out anyone that I could and when I post in the next few months, one of highest paid corporate jobs available, and I don't work weekends, holidays and have not seen the jet in 5 weeks and have 1 overnight this month. Please don't apply.
 
SFLAX said:
I do know how money works, And I guess your right I made some bad decisions , like working for a fractional that went out of business and got furloughed after 6 years, watching old dudes over 60 not get out of my seat, watch as the two planes I worked on we're repod by the banks, working as bus boy with a college degree in accounting, my CPA, and going to interviews and gettig nothing as 100s of people with more current experience got them, because there were 1000s of pilots and CPAs on the street. Worked so my ass off looking for a flying job, doing as much contract work as I could so my little boys could have something. Networking and keeping my record clean for 10 plus years. I guess I must of made some mistakes, screw you. Good thing all that paid off, as I run my own show now, and I got a great job and getting my life back on track. I have always paid it forward, helped out anyone that I could and when I post in the next few months, one of highest paid corporate jobs available, and I don't work weekends, holidays and have not seen the jet in 5 weeks and have 1 overnight this month. Please don't apply.
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The majority of us can all write the same story and have been drug through the mud in this industry it's just that some of us have prepared better than others.
 
SFLAX said:
I do know how money works, And I guess your right I made some bad decisions , like working for a fractional that went out of business and got furloughed after 6 years
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Who hasn't worked for someplace that went out of business? Hell, other than my current employer, not a single past one is still around.

But anyway, we all have setbacks in life. Don't see what that has to do with my model or numbers.
 
You have just been luckier or born richer or have not had to care for other people that had nothing. But to say to someone that has a somewhat differing view or opinion that they are basically not as perfect as you, please save us all. I could go on and on and make some low ball comments. But I won't .
 
And your model is fine, it works for you and like any model, that what it's is a snap shot of assumptions that are run and then adjusted to to various outcomes. Use it all the time when I do forecasting cash in order to help small businesses deal with issues. But don't let Mr. Perfect tell you other wise.
 
SFLAX said:
That is all great, now factor in, income, living expense, kids, and maybe a okay job for the wife. And don't forget, 100k, is a little light on a 3 bedroom in a good school district. Don't forget the flying debt. I would love to put money away like that, but we are pilots and life has far exceeded our pay.
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100k a little light? You living in SFO?
 
I plan on marrying a girl who makes more money than me (probably a senior pilot), hanging out for 12 years, divorcing her for a woman that makes even more money who I have been cheating on her with, then forcing her to pay alimony to me while I blow it all on lavish parties and sleep around very publicly on facebook. That's how to level the playing field, pay off the ol' sallie mae, and invest in retirement.

Also, if you were planning on being offended by this post and typing about it, dust off that old sarcasm detector you left in the closet.
 
SFLAX said:
You have just been luckier or born richer or have not had to care for other people that had nothing. But to say to someone that has a somewhat differing view or opinion that they are basically not as perfect as you, please save us all.
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I don't think that the question had anything to do with being born rich or being lucky. My answer certainly assumes neither. The numbers I posted were both a worst case and average case scenario, or in other words, no luck to extremely bad luck. The numbers are also not an opinion, they are math, which is either correct, or not. If you have numbers to support a different view, by all means, please do share them. I for one would love to be shown wrong, and be able to retire sooner.
 
I did and owned in San Francisco, sold out and moved near Chicago . SF was a tough place to get by. And numbers to lie, and you can do a lot with numbers, take a stats class or watch Anchor man, remember it works 60% of the time, 100% of the time.
 
SFLAX said:
I did and owned in San Francisco, sold out and moved near Chicago . SF was a tough place to get by. And numbers to lie, and you can do a lot with numbers, take a stats class or watch Anchor man, remember it works 60% of the time, 100% of the time.
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It scares me that you are responsible for other people's money.
 
Why? Never meet me, never seen what I do, can do. That's okay. I just love people that are so right and feel that way. And say something, even its sarcastic, and insult a person online, or at least take the a@@hole approach. If you wish I can give the number of my last client I just helped. PM me.
 
Good thing I proof read stuff, usually don't care about how I spell or really don't care about my grammar is online. As for math, if you believe that math is an absolute and always correct, that is fine. I have seen so many bad assumptions over the years in models and especially dealing with audit statistics that the client does not agree with. But your right, what I do for people, will never concern you, and I won't have to worry about it. Maybe one of these years at the annual get to gether we can discuss what I do more in depth.
 
SFLAX said:
Good thing I proof read stuff, usually don't care about how I spell or really don't care about my grammar is online. As for math, if you believe that math is an absolute and always correct, that is fine. I have seen so many bad assumptions over the years in models and especially dealing with audit statistics that the client does not agree with. But your right, what I do for people, will never concern you, and I won't have to worry about it. Maybe one of these years at the annual get to gether we can discuss what I do more in depth.
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The problem is that you help people but cited Dave Ramsey as a good person to follow. Yes, there have been studies that show the psychological benefits but if you are advising people you have a fiduciary duty to have them save the most money by paying high interest first and investing the savings. If they followed Ramsey there are thousands they lose out of between savings and investing.
 
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