Owning in retirement

"Clark" wrote ...

"Robert M. Gary" wrote ...
I earned it, the gov't didn't.

How much would you have earned if the government
didn't exist or hadn't provided for infrastructure?

Here's one: A while back one of my coworkers told me (with a straight face)
that the only reason he doesn't steal or hasn't killed someone is because
he's afraid of going to jail.

Thinking about that,... I'm pretty glad the government provides that
infrastructure!

Back on topic: ..... I doubt I'll be able to keep flying, much less owning,
in retirement. I'm the backside of the baby boom curve, there'll be nothing
left when I'm ready (Pension or SS). Once the boomers stop feeding their
401K plans, and the flow into the market reverses,... well that's the
trifecta.

OK,... can you tell I had a crappy day in the office? ;-)

richie rich mr bigshot give seniors some money huh?
Robert M. Gary submitted this idea :
*Your not paying state income tax*???? Christ, I just paid the state
of California over $30,000 in income tax. Man, I need to get some of
that FL myself. I'm paying $600/month in property taxes for my house
and I can't even write it off (AMT). I just bought a used boat and had
to pay almost $2000 in use tax. I think I'm getting the short end.

-Robert

On Tue, 22 Apr 2008 06:54:05 -0500, Ross wrote:

I am getting close to this event. I was wondering how those that have
already retired keep an airplane. I am fortunate that I have a
moderately priced hangar, reasonable (this is relative) fuel for my
area, and perform owner assisted annuals. But, I am concerned on keeping
the flying going and not feel that I have to let it sit more than I
should. I have always been the sole owner since I purchased it over 10
years ago. Thanks.

I think you'd be best off posing this question to a financial planner.
Prior to my retiring, I did some financial planning to ensure I would have
sufficient funds to support my "habit".
--ron

Ron Rosenfeld wrote:
On Tue, 22 Apr 2008 06:54:05 -0500, Ross wrote:

I am getting close to this event. I was wondering how those that have
already retired keep an airplane. I am fortunate that I have a
moderately priced hangar, reasonable (this is relative) fuel for my
area, and perform owner assisted annuals. But, I am concerned on keeping
the flying going and not feel that I have to let it sit more than I
should. I have always been the sole owner since I purchased it over 10
years ago. Thanks.

I think you'd be best off posing this question to a financial planner.
Prior to my retiring, I did some financial planning to ensure I would have
sufficient funds to support my "habit".
--ron

Oh, I am already doing that and have been for several years. I just
wanted to know what pilots WITH airplanes were doing. My adviser is a
tennis player not a pilot.

--

Regards, Ross
C-172F 180HP
KSWI

On Thu, 24 Apr 2008 07:46:14 -0500, Ross wrote:

Oh, I am already doing that and have been for several years. I just
wanted to know what pilots WITH airplanes were doing. My adviser is a
tennis player not a pilot.

That's probably the best you can do, as every one has individual needs and
wants. I "wanted" to be able to own my airplane by myself. (I fly 125-160
hours/year). I enjoyed the knowledge that no one else was flying it; and
however I left it -- that's how it would be when I came back to it. I was
fortunate enough to be able to arrange things so I could afford it, in
retirement.

--ron

I presume you are concerned about the cost of flying. One trick I
started after the Katrina aftershocks was to buy energy stocks. That
way, if fuel prices keep going up, many energy share prices will also
rise. If they fall, then you may be compensated with a fall in the
price of 100LL.

This scheme is not without flaws. You have to buy companies with proven
reserves instead of mainly refiners. There's always the concern about
nationalization and foreign corruption, so you need a diverse set of
companies. A couple of diverse possibilities are the ETF 'XLE' and
Vanguard's Energy fund.

Another approach would be to buy gasoline futures but that idea has more
flaws, in my opinion. Southwest Airlines has managed their fuel costs
somewhat this way, but eventually they will run out of low-cost hedges.

Another idea is to re-assess your insurance options. If you (and
others) have confidence in your skills, you might consider dropping the
hull component of your insurance, at least the in-motion part. I
probably wouldn't do this, however, if the airplane represents more than
5% of your net worth.

Finally, have you considered employment at the airport? You could do
anything from man the counter to wash planes. You would still be around
aviation and for each hour you worked, you could probably buy at least
one gallon of fuel!

Hope this helps.

-John T.


Ross wrote:
I am getting close to this event. I was wondering how those that have
already retired keep an airplane. I am fortunate that I have a
moderately priced hangar, reasonable (this is relative) fuel for my
area, and perform owner assisted annuals. But, I am concerned on keeping
the flying going and not feel that I have to let it sit more than I
should. I have always been the sole owner since I purchased it over 10
years ago. Thanks.

John T wrote:
I presume you are concerned about the cost of flying. One trick I
started after the Katrina aftershocks was to buy energy stocks. That
way, if fuel prices keep going up, many energy share prices will also
rise. If they fall, then you may be compensated with a fall in the
price of 100LL.

This scheme is not without flaws. You have to buy companies with proven
reserves instead of mainly refiners. There's always the concern about
nationalization and foreign corruption, so you need a diverse set of
companies. A couple of diverse possibilities are the ETF 'XLE' and
Vanguard's Energy fund.

Another approach would be to buy gasoline futures but that idea has more
flaws, in my opinion. Southwest Airlines has managed their fuel costs
somewhat this way, but eventually they will run out of low-cost hedges.

Another idea is to re-assess your insurance options. If you (and
others) have confidence in your skills, you might consider dropping the
hull component of your insurance, at least the in-motion part. I
probably wouldn't do this, however, if the airplane represents more than
5% of your net worth.

Finally, have you considered employment at the airport? You could do
anything from man the counter to wash planes. You would still be around
aviation and for each hour you worked, you could probably buy at least
one gallon of fuel!

Hope this helps.

-John T.


Ross wrote:
I am getting close to this event. I was wondering how those that have
already retired keep an airplane. I am fortunate that I have a
moderately priced hangar, reasonable (this is relative) fuel for my
area, and perform owner assisted annuals. But, I am concerned on
keeping the flying going and not feel that I have to let it sit more
than I should. I have always been the sole owner since I purchased it
over 10 years ago. Thanks.

I really have thought of doing something at the airport or the city
which owns the airport. it would totally different than what I have done
for the last 33 years.

--

Regards, Ross
C-172F 180HP
KSWI

Ross wrote:

I really have thought of doing something at the airport or the city
which owns the airport. it would totally different than what I have done
for the last 33 years.

Observing numerous retired friends and acquaintances, I've noticed that
the happiest are those that take up something that looks like a job, i.e.
has a regular schedule or structure to it.

It doesn't seem to matter if it is a real full time job, part time job,
volunteer work, or a constructive hobby (such as building or restoring
something), as long as it gets you out of the house on a regular scheduled
basis.

Those that don't do this seem to tend to develop more marital problems
and die sooner than those that do.

Just an observation for what it's worth.


--
Jim Pennino

Remove .spam.sux to reply.

On Apr 24, 10:15*am, wrote:
Ross wrote:
I really have thought of doing something at the airport or the city
which owns the airport. it would totally different than what I have done
for the last 33 years.

Observing numerous retired friends and acquaintances, I've noticed that
the happiest are those that take up something that looks like a job, i.e.
has a regular schedule or structure to it.

I have a friend who retired young (mid 50's), bought a house at the
airport, got his A&P and now runs an informal maintenance shop from
his house hanger. Its flexible enough that he can take off and travel
but enough obligation that it keeps him busy. Its great for owner
assisted annuals.

-Robert

Well...

It is early yet. But 3 years ago (almost 4) , with a partner, I
started a business that , so far, produces enough extra cash (and
more) to operate the aircraft.

Each of us average about an hour a day input, more if we take on a fun
project.

At least that's the plan, so far so good.

My business partner is also a partner in the ownership of the
aircraft. His own business allows for flexible time, I retired last
year and have the time.

So the extra income operates the aircraft, and adds some "walking
around" $$$ for me, and adds to his ability to save for retirement.
(He is half my age)

We will see how this works...

Dave


On Tue, 22 Apr 2008 06:54:05 -0500, Ross wrote:

I am getting close to this event. I was wondering how those that have
already retired keep an airplane. I am fortunate that I have a
moderately priced hangar, reasonable (this is relative) fuel for my
area, and perform owner assisted annuals. But, I am concerned on keeping
the flying going and not feel that I have to let it sit more than I
should. I have always been the sole owner since I purchased it over 10
years ago. Thanks.