What would you buy with a 50k budget?

On Sun, 18 May 2008 09:00:10 -0500, Mike Spera
wrote:



.stuff snipped.
What would you
buy if all you had was 50k...?
.other stuff snipped.

Others have chimed in with various options. My reply is a bit more
pessimistic.

$50k ain't gonna do it for a certificated beast. Kitplanes have their
own economics but I am not going there in this analysis.

Sure, you can buy an older tin can for that price, but may not be able
to fly it long. The various expenses will likely cost you enough to
double that figure in several years. Experiences vary, but you could pay
lots in the near future for unseen problems (or ADs). Or, you may pay
that out over 5-7 years IF you get lucky and don't fly a lot.

10GPH X $5.00/gal once a week is $2600 annually. Fly 2 hours a week and
double that. $800-$1200 for insurance. $800-$3000 annually for cheap tie
down on up to basic hangar. Throw in $2k for annual. Another $2k for odd
repairs and you can see how the bill mounts. On the low end, that adds
up to $8200 a year. In 6 years you paid another $50k to operate the
beast. Florida? I would strongly consider weather detection. Add another
$2k one time expense for the Garmin and $360 a year for the subscription.

Many on this group scoff at these prices and boast about how "they did
it cheaper". The ones who could not afford it don't pipe up about how
the expenses swamped them into selling. Sure, IF you have the tools, and
IF you have the hangar to work in, and IF you have the one in a hundred
mechanic that will let you do the work, and IF you have the know how,
and IF you have the time, and IF you can search for cheap parts, and IF
your wrench will let you use them, etc. things can be cheaper. You got
those? Many don't. Most pay "retail" as I estimated above.

So, I say that $50k is a good start. If you have the $8k - $10k in
annual expenses also figured into the budget, you may make it work.

By the way, make sure you have $15k or so lying around just in case the
engine decides to go out to lunch.

Good Luck,
Mike

Mike,

Thanks to you and to the others who have responded. I have to say that
your comments mirror the thoughts that have been going through my mind
since I woke up this morning. What I have learned over the course of
the last few days, is that the professional degree I obtained 20 years
ago has me stuck in a career that does not give me the financial means
to fuflill this passion I have had for 40 years. I was able to get my
ticket in 1998 and thought that I would be able to accumulate time and
afford the hours to become a proficient pilot. I even looked into
getting an instrument rating, but that expense was far above my means
then as it is now.

As far as VFR flying was concerned, things looked hopeful but flying
only 15 or so hours a year is not going to satisfy my quest to become
a proficient aviator. I thought that perhaps just tooling around the
neighborhood in a little 152 or so would satisfy the urge, but in the
pathetic 150 hours I have amassed over the last ten years I am already
beyond that. Confining myself to local hops around the pattern does
not hold much appeal any longer if I cannot mix it up with some good
XC's every so often. The thought of taking those relatively longer XC
flights to places further than 100 miles from the home base are part
of what motivated me to obtain that license. But, sadly, the longest
XC I have ever flown in that time is the one required for the PPL.

Of course you all know that to become a good aviator requires XC
flights that will expose a pilot to many different situations. (A
totally obvious statement I know.) But that experience I crave
requires flights that I cannot begin to fund either in renting or
owning. Even though some posters have mentioned rentals over owning,
the rental market at the FBO's near me is really not a valid option
due to the limited availabilty of the aircraft. A club could be an
option in the right locales, but for some reason clubs are almost
nonexistent in northern Florida.

The only way to acheive the lofty goal of becoming an experienced
pilot, would require an aircraft in the 80k to 100k price range. Add
to that the cash reserves for the gotchas and the typical operating
costs and let's just say I will have to wait until I win the lotto to
see this dream come true.

In the meantime, I have decided to push this long standing, all
consuming passion out the door. It will be difficult to turn in my
wings, but necessary.

Cheers
Kirk