News reporting FAA raises age to 65

[Jim Smyth]

Whats that I hear? It must be the fat lady singing!

 

[Cobraair75drvr]

Jim,

In all seriousness, how is 65 not age discrimination also? When you guys reach 64 are you going to start this again? Also why does someone have to be under 60?

 

[SKLJ]

So true...

...it is the right thing to do.

Airfogey

Exactly right.

 

[BLUE BAYOU]

well, controllers get a government pension at 55. Would you push to work till 65? Many pilots have lost or don't have defined benefit retirements, so, working longer means more 401K money, etc.

Hit the nail on the head! Of course, most Ray Ban wearing, back pack toting Embry-Riddle and Comair Academy grads aren't concerned about saving for their non-existent retirement-- because pensions as we know it are history and it will take you to age 67 to get full Social Security benefits (if it even exists when we retire).

 

[BoilerUP]

Hit the nail on the head! Of course, most Ray Ban wearing, back pack toting Embry-Riddle and Comair Academy grads aren't concerned about saving for their non-existent retirement-- because pensions as we know it are history and it will take you to age 67 to get full Social Security benefits (if it even exists when we retire).

This 23 year old regional FO is saving well over 20% of my combined income for retirement. Social Security will not exist when I turn 67 or 67 or 70; even if it did, it would be a pittance. Now I'll have to work an additional 5 years to get to retirement and I'll still never make back the money I could have made with a career progression based upon the Age 60 rule as it stands today.

My financial security for retirement is my responsibility...and its painfully obvious none of my industry colleagues will look out for me. Perhaps somebody should have told that to the older pilots fighting hardest for this change, most of whom have been in the top 3% of wage earners in this country for the last twenty years of their lives.

Oh yeah, thats right...they've been too busy living the high life then crying broke post 9/11, asking to change the rules that they've benefited from their entire career.

 

[svcta]

This only means NPRM......nothing has been done yet. Let's all take a deep breath. (and realize that changing 60 is no bueno....did I say that out loud)

 

[Flybynite]

This 23 year old regional FO

dam son, you got forty two more years. Thats a long time to be miserable.

 

[BoilerUP]

dam son, you got forty two more years. Thats a long time to be miserable.

I'm not miserable pops, but thanks for the pep talk.

 

[Charlie Brown]

Boiler,
You make an interesting point; these guys want to change one of the very laws they benefited from. Hypocritical? I don't see how anyone could think this is a good idea, unless of course you either:

A) Are nearing retirement and didn't plan properly, so you wish to avoid being the newest greeter down at the local Wally World.

B)Are nearing retirement and have no life outside of work.

-OR-

C) Both of the above.


Just because someone didn't plan accordingly and/or hate their miserable life shouldn't make the rest of us suffer with longer upgrades, fewer good job opportunities and the restructuring of pay/bennies to practically force the rest of us to drudge on past 60.


(And yes, I have a few gray hairs, no I did not attend Comair Academy or ERAU, I do own a backpack, but it is for hiking, and the only gel I use is when my herpes flare up.)

 

[Lear70]

(And yes, I have a few gray hairs, no I did not attend Comair Academy or ERAU, I do own a backpack, but it is for hiking, and the only gel I use is when my herpes flare up.)

That's WAY too much information there, buddy...

Incidentally, you forgot option D. "My dad is over 60 and lost his retirement to a bad investment just prior to the crap hitting the fan".

His own fault for not playing more reserved with his retirement so close to the end game, but I'm willing to take an extra 5 years if it gives him an extra 5 as well, but that's 'cause he's my dad and for everything he's done for me, I'd say I owe him one (or two or three or five).

Plus, I have longer to do more not only with saving my aviation income, investing properly, but also to have 2 other companies, invest in real estate, and slowly build my wealth one deal at a time.

If luck holds, I'll be out before 55 anyway. If not, I'll enjoy flying 'til 65. Maybe they'll let me do it part-time after age 55.