What would you do?

[dueguard1]

I just recieved some inheretence that is enough for me to back to school for a career change from my current job. I have 600 hours tt and my Comm SEL, CFI, CFII but I have not been able to find many students. My question is, should I invest (i.e. blow it) in buying some ME time and maybe moving to another area of the country where I might be able to do more instructing? Or should I try something else? I am 35 now and is there a reasonable chance that I could get on with a regional airline, or is there just too many people and too few jobs?

Thanks

Simple..My Man....Invest in some property think Long Term!....Party with the rest or buy something else that you've always wanted.....Pad the the Logbook, and click enter for that Regional gig you're looking for! Everyone's Hiring! Also pickup "The Millionaire Next Door" great book that changed my whole financial battleplan for life.

 

[FN FAL]

There is bad debt, and 'good' debt. Debt to buy toys, food, etc, is bad......if the thing you buy cannot return anything, it's bad debt.

Good debt has returns. You borrow money at 6% to make 15% on it -- net is 9% in your pocket (in general - taxes affect this).

if an investment is fleeting, you might just have to use credit in order to capture the opportunity.

I used a 21% credit card to capture an investment opportunity which doubled in value within a month after I invested. I had to use the card to secure the purchase of this investment because I didn't have the cash on hand and the bank would give me a personal loan. The item could have sold within hours and be gone. I used the card, then paid off the card with a low interest loan against my life insurance. In three years, the investment has literally tripled in value and will continue to do so unless something fubar happens with a couple of federal acts.

 

[Checklist]

You listed SE COMM, CFI, CFII. Is it safe to say that you have 0 ME time? If so you must make a decision. Is this for 100% sure the career that you want. If so you must

1. Realize that you have 25 years left. If it takes you two years to get on with a regional you will be 37. If it takes min another 7 years to have a shot at the majors you will be 44 with 16 years left in the industry. Please don’t take this as a deterrent from starting, just take it into consideration. If you choose to go to the airlines, you might consider making a career out of a solid regional like horizon or express jet.

2. Get your COMM ME. Once you get your COMM ME then you can start building some valuable time.

My advice if you choose to pursue this career is, research jobs flying light piston twins. Once you found a possible job move to that town and get your COMM ME in that town while networking at the company. Refuse to ever pay for another hour of flight time from that point forward. Once you are rated use the investment that you made to produce a return. Any PFT is a sad mistake, whether it be airline placement programs or just buying ME time.

A friend of mine built some great time flying Texas pipeline in a 310.

 

[FN FAL]

1. Realize that you have 25 years left. If it takes you two years to get on with a regional you will be 37. If it takes min another 7 years to have a shot at the majors you will be 44 with 16 years left in the industry. Please don’t take this as a deterrent from starting, just take it into consideration. If you choose to go to the airlines, you might consider making a career out of a solid regional like horizon or express jet.

25 years left? Don't make it sound so final, he can come and fly Caravans with me after he turns age 60 and leaves the regionals. We hired an age 60 Embraer Captain from a regional last winter, so life doesn't end at age 60.

 

[Regul8r]

I just recieved some inheretence that is enough for me to back to school for a career change from my current job. I have 600 hours tt and my Comm SEL, CFI, CFII but I have not been able to find many students. My question is, should I invest (i.e. blow it) in buying some ME time and maybe moving to another area of the country where I might be able to do more instructing? Or should I try something else? I am 35 now and is there a reasonable chance that I could get on with a regional airline, or is there just too many people and too few jobs?

Thanks

It sounds like your goal is airlines, no? Why don't you tell us what you THINK an airline job entails, and that way the people on here can let you know if your expectations are in the ball park or not. If airlines are not your goal...disregard

 

[airplane wizard]

Airlines or Corporate..either one would be fine. I know the pay and QOL suck at the regionals, but corporate flight departments usually require more multi and turbine experience. I have no ME time at all right now, and I am not currently instructing.

 

[learflyer]

You mentioned you have a business degree that is "getting you no where"? That is the most versatile degree out there! Take your money and look into buying a franchise. Or go to monster .com and see all the stuff you can do with your eduacation......Pharmacuetical sales, manager, airport manager.....ever consider an mba and just fly for fun?

 

[Mercury]

Learflyer beat me to it by a few minutes, but I would definately get the MBA seeing as you already have the business degree. But then again I'm a little biased because I'm currently trying to find a way (time &money) to get an MBA.

Good luck with your choices and let us know what you do with the money!

 

[bubbers44]

at what age did you keep trying bubbers?

I got my airline job at 35 and was in the middle of my class age wise. I was 30 when I quit my electronics job and took a huge, 50%, pay cut to persue flying full time. Read Jonathon Livingston Seagull one too many times.