G5 SIC slots

[OPECJet]

OJ..I'm talking about the poster who believes the 70 y/o should leave to make an opportunity for a younger pilot. It's his job; he should be able to stay until he decides to leave or unable to pass muster. JMHO.

Fair enough. Part of me agrees with you. My wallet however.....:smash:

 

[OPECJet]

Yes the baby boomers aren't retiring and many will never retire, but it's not necessarily because they're greedy. Unlike the baby boomers parents, who lived in the same craftsman home for 50 years and retired off of a pension, millions of baby boomers chose to keep buying/mortgaging bigger homes, bigger boats and better cars every time they got an extra $100/week raise all while not putting any/enough money away for retirement.

The current generation of retired baby boomers has record credit card debt, a mortgage and even back in '06 they said the average baby boomer only had an avg of $60K in retirement savings.

Unlike their parents, keeping up with the Jones has come full circle to bite the boomers in the arse.

You're dead nuts right. The trickle down from this is folks my age will not get the chance to enjoy the lifestyle our parents did. The opportunity isn't there.

 

[rajflyboy]

You're dead nuts right. The trickle down from this is folks my age will not get the chance to enjoy the lifestyle our parents did. The opportunity isn't there.

You are forgetting about the fat cat pensions that many employers used to have and no longer do.

Only the government employee's have the big pensions now

Yes. You are paying tax dollars for many people to live big

 

[OPECJet]

You are forgetting about the fat cat pensions that many employers used to have and no longer do.
No, I think those lost pensions are the reason behind baby boomers working past the traditional retirement age. Sure there's some who are married to Helga and "enjoy the flying", but I think they're the exception.
Only the government employee's have the big pensions now

Yes. You are paying tax dollars for many people to live big Not so. I'm working for a Gov't Contractor now. The Gov't folks I work with have a version of a 401K and must contribute just as we do. Their insurance benefits are more expensive than what we have. The only place they have a benefit advantage over the private sector is in leave. They are also under an ever present threat of a RIF. Couple in the hiring freeze that's on right now and workloads have been steadily and rapidly increasing as the budget cuts are answered with early retirements and those positions are not backfilled. I've heard the rhetoric from Rush about Gov't employees and he's flat wrong, at least at the Federal level. It's not the cake job it used to be.

..........

 

[realityman]

the old farts that won't go away. That's MUCH, MUCH worse.... a few months ago i had recurrent with a 70 year old guy. This dying dinosaur has no live at home, so he hangs around and takes an opportunity away from a younger guy. Selfish A-HOLE...It pisses me off to no end

Were you in my recurrent class? I was in recurrent a few months ago and my sim partner was/is 72. No life at home and he only does this to get out of the house.

He is one of the old guys that has a reputation for doing NOTHING except flying the plane (no bags, interior cleaning, Jepp revisions, etc...).

However, he is still sharp as a tack mentally, and flies the plane very well. Based on his physical condition and mental and motor skills in the aircraft, there is absolutely no reason to remove him from the cockpit. And he has many years of invaluable experience if the brown stuff hits the fan.

On the other hand, based on the fact that there is a lot more to this job than just flying (bags, interior cleaning, Jepp revisions, etc...), if he can't, or won't, do ALL the work that comes with this particular job, then I agree, he should get out.

I just finished a tour with a guy who is in his upper 60's. Based on his performance doing the ENTIRE job, I can find no good reason to force or ask him to leave his position. The guy was sharp, exercised good judgement, flew very well, and did all the other heavy lifting (including throwing bags and moving the raft in and out of the aircraft). I've flown with much younger guys here who did a lot less.

As for the rest of it, it's a personal decision. I think that if you set a goal for retirement (for example, I will retire when I have $2 million in my 401K) then it is the right thing to do to retire when that goal is met. There are younger folks who are just starting out, struggling, with families who could use the pipeline to move a bit more in order to have a shot at it. The trouble is, you just don't know someone's personal circumstances.

I really enjoyed the guy on here who said if your pension vanishes and/or your 401K tanks that it's your fault and you should have planned better. Spoken like someone who has yet to have life really kick them in the balls! Not to mention the absolute ridiculousness of saying someone should be able to forecast what a company will do with a pension or what the market is going to do with your 401K. How about a serious illness in a family member that may not have medical insurance? Suppose a pilot helps out a nephew with Leukemia, in order to keep him from dieing. That may take a huge financial toll to supply that help. Poor planning from the pilot? Please. That's BS. The pilot made a good moral decision, but then should be forced out of the cockpit while his finances are in shambles just because someone younger thinks it's their turn?

As I said, I think there are times when the older pilot should make the ethical decision to retire, especially if they've met their own personal goals to retire on. But the younger folks may be closing doors they might need later in life if we start forcing people out just because they believe it's their turn. It'd be a real karmic bitch to grow old, have life take a nasty turn on you later in life, and then listen to some younger creep tell you that it's only because of poor planning that you're in the situation you're in and you should get out.

Be careful what you wish for.

 

[rajflyboy]

..........

You are mostly uninformed about government retirements. Many of the government workers who retire actually get a pay raise >> because they also collect social security on top of what they collect in retirement.

Although in the future I hope these types of retirements go away. This country can't afford it.

 

[Semore Butts]

Why not give something back to the younger guys for the great career that you had?

What exactly did they give to me that I need to give something back to them?

Trust me young geniuses, I'm saving as much as I can to get out of your way.

I always hear these young guys talk about how messed up some of these old guys are. I would be curious to hear the old guys opinion of these very same young guys?

Where will you be in 5 years? I promise, you don't know. (Divorced? Being sued? Terminaly ill?)

I'm glad I didn't waste alot of time responding to this thread....Geez, what a goat screw!

 

[shroomwell]

If you are gonna have 2 million in your 401k at retirement and be young enough to enjoy it, than you ought to get into the hedge fund business.

There is no way you will get that kind of return from max contributions to get to 2 million.

 

[OPECJet]

You are mostly uninformed about government retirements. Many of the government workers who retire actually get a pay raise >> because they also collect social security on top of what they collect in retirement.

Although in the future I hope these types of retirements go away. This country can't afford it.

We don't represent the entire Gov't retiree population, but my family hasn't seen it. Dad spent 30+ yrs working for the Army, uncle spent 30+ working for the state of NJ. Neither hit the lottery upon retirement.

Talking to the guys in the office getting ready to hit the door, they aren't leaving as millionaires either. The younger guys in here have the same type of retirement we do, just under a different name.

Used to be that you traded salary for job security and retirement by going to work for Uncle Sam. Now, you get paid more than the private sector but lost the retirement and job security unless you claim veterans preference.

 

[BentOver]

If you are gonna have 2 million in your 401k at retirement and be young enough to enjoy it, than you ought to get into the hedge fund business.

There is no way you will get that kind of return from max contributions to get to 2 million.

If you maxed it out for 30 years it's $720K....Compounded interest, dividens and such one could easily reach 2 million assuming they started young and retired around 65...