Regional Retirees?

[Bluto]

I'm curious how many of you out there know of people retiring (due to age 60)from the regionals who are not able to retire in the conventional sense. I guess it should be pretty commonplace considering regional wages, I just don't recall hearing about it happening very often. Are there any regional retirees going off to play golf in Florida? Or are they all looking for second careers as Wal-Mart greeters, or Fractional Pilots?

 

[GMY]

Welcome to Wal-Mart. would you like a cart?

 

[Palerider957]

You don't "retire" from the regionals, you get fired for age.

 

[Palerider957]

The only reitrement you are going to have is the one you make for yourself. Start planning early on, and keep focused.

EVERYONE who flies for a regional needs some kind of second gig. I am working in realestate, which has proved to be pretty lucrative (well in excess of the pittance ASA pays).

No matter what your field, or station, if you leave your retirement planning up to your company you might well get screwe.d Lorenzo style.

Having a second gig will also make you feel MUCH better about telling the company to go F**k them selves if it ever gets to be too much.

 

[GMY]

You don't "retire" from the regionals, you get fired for age.

Bravo Palerider, well said!!

 

[Nindiri]

I can see where people retiring from regionals in the past would have been in a bad way financially. I'm in a better position because regionals pay better now, and I contribute faithfully to my own retirement account. 10-15% of 60-100K annually plus whatever the company contributes adds up big over time. No jobs for me after retirement, I plan to travel and golf.

The trick is don't depend on the company to do it for you.

 

[Whiskerbizkit]

Retirement at a regional=working in the training dept!

 

[Singlecoil]

I don't work for a regional anymore, but one strategy a lot of folks need to take better advantage of is putting the max pre-tax amount into your 401K that the government allows. This year it is $14,000 for those under 50, and $18,000 for those 50 and above.

I know, you can't afford it. I say you can't afford not to. If you don't put it into your 401K, the government is going to take 15% or so in taxes (whatever your tax bracket is). Right there you get a 15% return on your investment. Yes, you'll pay tax on it when you take it out in retirement, but only based on how much you take out. Hopefully not much per year if you own your home by then.

 

[CarjCapt]

You don't "retire" from the regionals, you get fired for age.

That is my answer to "did you retire?" since September 2004

 

[skyboat]

CarjCapt-


I wonder how many people know what your Avatar is?

Not many, I suppose. Back in the day when Comair pilots were still unified.