Stolen ATP Cessna 172 Crash

JordanD said:
*gestures vaguely at everything*
I really wonder if the state of the world in general is contributing. Home ownership is basically a fantasy, rent goes up, and the very real possibility that this generation won’t be able to retire. Climate change, increasing polarization and a general • negative atmosphere with all the worst parts aggravated by social media can’t be great for a person’s mental health in their formative years. I don’t blame younger people for being riddled with anxiety.
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Like your post, but please realize that there are lots and lots of actual old people ALREADY, RIGHT NOW who are ALREADY, RIGHT NOW "unable to retire". Many of those old, unable-to folks have worked -very hard- all their lives so far. They will need to continue to do that until they die. Sadly, because companies tend to not give a *, those hard working, experienced folks will not continue to be able to be hired to work hard and competently despite their MUCH better and more profound work ethic. (You know, that thing we 'Muricans so pridefully pride ourselves for possessing in greater measure than "any other nation on earth".)

We are clowns. Clowns we are. We wear make-up to get har-hars.
 
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form810 said:
Wow! He must have at least been smarter than your average pilot these days. Though it does seem he had the typical new pilot issues with the compass and headings, he at least knew what "comms" were, that there was more than one of them, and how to pull their respective CBs. So, you know, he's got THAT going for him. In the words of Ferris Bueller, "Never had one [Systems] lesson!"

Kinda gives "Fly it like you stole it" a whole new definition.
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classy
 
roundout said:
classy
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Facts rarely have much to do with "class". Ask Thorstein Veblen.

"Class", in 'Murica, is generally appreciated simply as a function of one's personal income... 'specially if that individual is a spender and NOT a saver. When one has "enough" personal income, and is even half-smart and not a complete drug addicted moron, "class" is just a given, based on interest-induced, ever-increasing net worth - worked for, or not.
 
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form810 said:
Like your post, but please realize that there are lots and lots of actual old people ALREADY, RIGHT NOW who are ALREADY, RIGHT NOW "unable to retire". Many of those old, unable-to folks have worked -very hard- all their lives so far. They will need to continue to do that until they die. Sadly, because companies tend to not give a *, those hard working, experienced folks will not continue to be able to be hired to work hard and competently despite their MUCH better and more profound work ethic. (You know, that thing we 'Muricans so pridefully pride ourselves for possessing in greater measure than "any other nation on earth".)

We are clowns. Clowns we are. We wear make-up to get har-hars.
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There are plenty of sad stories, we all sympathize with those that have been dealt a bad hand. Most of us agree that the government could do a better job taking care of the most compromised among us.

But your post isn’t talking about those folks, your post is describing folks that must continuing working in their golden years - able-bodied folks that didn’t plan for their retirement. Working hard isn’t enough.

For relatively healthy folks, few countries provide better opportunities for a pleasant retirement than the United States. If you are triggered and ready to compare us to the social welfare states of Europe, I’ll ask you to take a deep breath.

If you don’t take advantage of the market and don’t plan for your retirement, those social welfare utopias seem pretty attractive.

If you are approaching 62 years of age, having maxed out your Roth for about 40 years and retiring without a mortgage, you are probably going to do better than folks facing retirement in Scandinavian countries. Add 401k’s and real estate investing opportunities and you’ll see that most of us do better trusting the market with good planning versus government and corporations.

Gordon Gekko wasn’t completely wrong.
 
"Take advantage of the market"

The market isn't a pension. Past performance is not an indicator of future returns, etc. etc.

I'd prefer to have a reasonable safety net that doesn't require me gambling to make up the difference between "barely afford my meds AND food" and "nothing extravagant but I want for nothing".
 
Fixtur said:
The market isn't a pension. Past performance is not an indicator of future returns, etc. etc.

I'd prefer to have a reasonable safety net that doesn't require me gambling to make up the difference between "barely afford my meds AND food" and "nothing extravagant but I want for nothing".
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A pension is still a fixed income, and can thus be inflated away rather alarmingly.
 
Fixtur said:
"Take advantage of the market"

The market isn't a pension. Past performance is not an indicator of future returns, etc. etc.
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I’m certainly not against pensions but pensions have failed and will fail at an increasing rate. Oh, pensions take advantage of the market too. While pensions that fail from bad investing make headlines, that’s pretty rare. More commonly, it’s pension criteria that is unsustainable. Police and fire fighter pensions are the most problematic but it’s a widespread problem.

Over time, bet on the market in the aggregate. I’m not suggesting day-trading.

My post was in response to the idea that folks should be rewarded by a corporation for a period of hard work or the government should take care of everybody. I’m suggesting that the best retirement is found through self-reliance and not faith in the government or pensions.

I’m betting that most folks that have to work into their 70’s pay rent or still have a mortgage.

Owning a home is almost a retirement necessity. Our tax code understands this and encourages retired homeowners to downsize to further fund their retirements.
 
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Pilot Fighter said:
I’m certainly not against pensions but pensions have failed and will fail at an increasing rate. Oh, pensions take advantage of the market too. While pensions that fail from bad investing make headlines, that’s pretty rare. More commonly, it’s pension criteria that is unsustainable. Police and fire fighter pensions are the most problematic but it’s a widespread problem.

Over time, bet on the market in the aggregate. I’m not suggesting day-trading.

My post was in response to the idea that folks should be rewarded by a corporation for a period of hard work or the government should take care of everybody. I’m suggesting that the best retirement is found through self-reliance and not faith in the government or pensions.

I’m betting that most folks that have to work into their 70’s pay rent or still have a mortgage.

Owning a home is almost a retirement necessity. Our tax code understands this and encourages retired homeowners to downsize to further fund their retirements.
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Sometimes, unfortunate things are nobody’s fault and simply result from unexpected consequences.

Retirement planning was easier in 1965 when life expectancy for men was 67. Now, it’s 77. Did corporations just get greedy or did the math change over time? Probably both.
 
Roger Roger said:
Gee, I wonder why housing is getting unaffordable. Couldn’t be because instead of a necessary commodity we’ve decided it has to be an investment.
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Please define commodity as you understand it. It might make sense if housing was a cookie-cutter product with an economic pressure towards perfect competition. Are you suggesting that housing should chase the commodity model?
 
Pilot Fighter said:
Please define commodity as you understand it. It might make sense if housing was a cookie-cutter product product with an economic pressure towards perfect competition. Are you suggesting that housing should chase the commodity model?
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I’m saying that the idea that real estate values should increase beyond the level of inflation forever, is ludicrous and leads to a lot of idiotic policy decisions to try to keep that line going up. And a lot of that idea is because real estate investment is such an integral part of so many peoples retirement planning. Just on the surface it doesn’t make any sense that an asset that wears out should get MORE valuable each year, unless you’re investing capital in improving it.
 
Roger Roger said:
I’m saying that the idea that real estate values should increase beyond the level of inflation forever, is ludicrous and leads to a lot of idiotic policy decisions to try to keep that line going up. And a lot of that idea is because real estate investment is such an integral part of so many peoples retirement planning. Just on the surface it doesn’t make any sense that an asset that wears out should get MORE valuable each year, unless you’re investing capital in improving it.
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Okay, even if a home didn’t appreciate a dime it’s still a vital part of retirement planning. In fact, when looking to buy a house it should make financial sense even without appreciation. Old Walmart greeters are bored, have a mortgage, or pay rent. Recall the post to which I was responding.

On a related note, if you look at Cincinnati, Lexington, Louisville, Memphis, and Nashville, you can save about half on the cost of a house if you are willing to commute one hour. There are probably 50 major cities where this is true.

Mid-career pilots act like poor folks, asking what they can afford versus what they need.
 
Roger Roger said:
Gee, I wonder why housing is getting unaffordable. Couldn’t be because instead of a necessary commodity we’ve decided it has to be an investment.
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That’s one reason. Another one is homeowners “got theirs” and pulled the ladder up. Eg, passed laws, zoning regulations, caps on new construction, etc. that made new construction much, much harder. Throw in the fear post 2010 about making new homes, and new home construction was down for 2011-2020. Add the fact the population continued to grow, but housing never kept up.


And this is before we even mention the post 2020 boom and investment groups buying homes like crazy.



I don’t hate on old people, but when it comes to housing, absolutely their generation got theirs and passed rules and regs to make it harder for future generations to build homes. The American dream died thanks to them. The amount of real estate increase they saw (some seeing 200% in 5-7 yrs) will not happen for my generation and younger, going forward from now.
 
Cherokee_Cruiser said:
That’s one reason. Another one is homeowners “got theirs” and pulled the ladder up. Eg, passed laws, zoning regulations, caps on new construction, etc. that made new construction much, much harder. Throw in the fear post 2010 about making new homes, and new home construction was down for 2011-2020. Add the fact the population continued to grow, but housing never kept up.


And this is before we even mention the post 2020 boom and investment groups buying homes like crazy.



I don’t hate on old people, but when it comes to housing, absolutely their generation got theirs and passed rules and regs to make it harder for future generations to build homes. The American dream died thanks to them. The amount of real estate increase they saw (some seeing 200% in 5-7 yrs) will not happen for my generation and younger, going forward from now.
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Another example is the push-back against tiny homes and small homes.
 
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