G5 SIC slots

[jonjuan]

Never use the past eight years to try and predict the next 25 years. That is short term thinkg and no one can predict that far out. The best thing to do is take the past 60 or 70 years and use that to TRY to predict the future.

You must not that Zero interest rates are going to have a tremendous effect on your returns. You cannot expect good returns in that environment.

As for your Financial Advisor. I suspect he is a guy who tells you what mutual funds to invest in. If you pay him for his time that is best, but if he is getting a commission from the funds you chose, than lose him, his interests are not aligned with yours. Besides he didn't know what the rule of 72 is and he thinks you can make 10% returns, which is BS. If he is that good he should be running a hedge fund making billions of dollars, and most of the guys who make that money in hedge funds cheat to some degree as well.

In today's environment I am happy to make 2-3% on my 401k money and be able to sleep at night knowing it is not at much risk. Sure it is horrible return on capital, but with the government/Fed keeping interest rate down at zero, it is what it is. Think of all the old people who used to live off of CD's at the bank getting 6-7% a year, they have essentially been put in the poor house by these policies.

Moral of the story is, be safe not greedy, it is you and your families future.

His advisor is telling him that the rule of 72 yields 12% per year (double in 6 years). If he wants to believe his advisor isn't trying to hoodwink him, that's his deal. He probably also told him, "I can tell that you are not only a powerful man, but a good looking one." LOL

 

[BentOver]

Ahhh,,, every pilot thinks he is always right.... I listened to another pilot once about buyinjg a certain stock..Took his advice and lost out on a 400% return.... Never let it happen again....

 

[shroomwell]

jonjuan, I explained to him in my early post what the rule of 72 is. Bottom line is most of these so called "financial advisers" are just salesmen. They don't have any formal education or training. There only training is to sell this because XYZ, without knowing what XYZ are.

 

[realityman]

His advisor is telling him that the rule of 72 yields 12% per year (double in 6 years). If he wants to believe his advisor isn't trying to hoodwink him, that's his deal. He probably also told him, "I can tell that you are not only a powerful man, but a good looking one." LOL

My adviser only makes money if I do. Uhhh, I admit right here in front of everyone that I'm not the sharpest tool in the shed, but I can't figure out how he's 'hoodwinked' me. Into what? Not following the advice of the folks on FI?

Fact is, actions speak louder than words. You can make fun of me and my adviser all you want, my money is doing what he said it would be doing if I followed his advice.

Not sure what his education is, but he's been guiding me pretty well, even through the tough market conditions we experienced recently.

Some of you folks actually seem angry that it's working out for me. Don't know why. Use whatever system works for you. If you can play the market well on your own, great. I prefer advice. I trust this guy and he's done right by me so far. I keep saying over and over that his advise and calculations have panned out very well for me, and you folks keep saying 'no it hasn't. no it won't'. Whatever.

I keep hearing over and over that it won't work out for me. Why? Based on what? What formal education in this area do you folks have that makes you smarter at this than my adviser?

Sheesh! Sorry I brought it up. I guess jonjuan will be doing well on his Delta pension, so no need to worry about the market. Oh, wait..........

I'll let all you market brianiacs talk amongst yourselves. Maybe in 25 years I'll come back to this thread and admit you were right. Or maybe I'll be too busy enjoying my well-funded retirement to bother with you. Only time will tell.

 

[jonjuan]

That's using a very basic 'rule of 72', which says your money will double every 72 months.

With the fact that you nor your advisor know the meaning of "rule of 72", you appear to be lost in a fog (that or your advisor is mis-educating you).

 

[realityman]

With the fact that you nor your advisor know the meaning of "rule of 72", you appear to be lost in a fog (that or your advisor is mis-educating you).

That's okay. Seems like good fog. My account is doing well enough based on his advice. Maybe he knows more than you think. You've never met him, the only info you have on him is what I've told you, and most of what I've told you is that over the years his advice has worked out very well for me, and somehow from all that you've determined he's a lousy adviser. I'd really hate to see your decision making abilities at work based on what you're saying here.

Okay, no more from me on this subject. Pass all the judgements you like about my adviser. What you think isn't important, because my results with him have been right on target based on what he's telling me.

 

[jonjuan]

His name must be Warren Buffet because only he has come close to 12% a year over 30 years.

 

[CRAWDADDY]

Seniority rules.

Not at Netjest

 

[NachoMamma]

Not at Netjest

Bingo!

 

[acaTerry]

Seniority in the fracs is really pointless. Look at the situation at NJA for example. Many FOs are near the 10 year payscale maxout. They can work there for 30 years and not see a dime more...EVER. Upgrades...yeah, in like another 8 years if they are lucky (that makes you a 15 year FO on a 10 year payrate). PICs will bid the new equipment (lest they wait out a displacement and possibly get a fleet they hate) and the seats they vacate will go to disposal because our company leadership has it in their head that shrinkage is growth. FO bids in the GV are all that is left. But guess what? Those are going to PICs now too. So now the SICs have one thing left to use seniority for...which of the 3 crummy schedules do we want? Option 1 where you are on the road 7 days at a time, all the while being cabin boy cleaning up after the previous crew who didn't clean the plane or bother to do Jepps? Option 2 where you do 6 on 3 off until you turn purple? Or Option 3 where you have absolutely no idea when you work each month? So aside from vacation bids, seniority means nothing anymore. You have no upgrade, no payscale increase, and no life. So I ask...does expecting progress in your career make you an entitled baby? I think not.