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? ;-)

"Mike Isaksen" wrote in message
news:%E9Qj.15005$Zk5.4777@trnddc05...
Back on topic: ..... I doubt I'll be able to keep flying,

I am wondering about that myself. My "backup plan" is this: If my flying
cash (and thus flying hours) is reduced to the point that my skills deteriate, I
will forget my medical certificate and drop my renter's insurance. Thereafter,
I will fly with one of my FBO's instructors. Considering the cost of my
renter's insurance, I will probably save money on the deal and be safer at the
same time.


I'm the backside of the baby boom curve, there'll be nothing left when I'm
ready (Pension or SS).

I have been wrong before, but I don't see collapse of the SS system.
Ultimately, I see higher taxes and/or reduced benefits.

Once the boomers stop feeding their 401K plans, and the flow into the market
reverses,... well that's the trifecta.

Those 401 plans aren't going to all get drained on day one. Their owners
will need to make them last for decades. At the same time, there will be plenty
of younger workers plowing money into their own accounts, which will tend to
replace the dollars being withdrawn by the retirees. Heck, a few accounts will
actually continue growing after retirement. That said, I am delighted to be
among the lucky few who have managed to hang on to a traditional (defined
benefit) retirement plan.

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

We all have those occasionally.

Vaughn

"Newps" wrote in message
. ..
Robert M. Gary wrote:

*Your not paying state income tax*???? Christ, I just paid the state
of California over $30,000 in income tax.


How can you not know this? There are a handful of states that do not have
state income tax. WA, WY, TX, SD, FL, AL and NV. NH and TN only tax
dividend income. California has some nice scenery but people that
actually live there have lost their ever lovin' minds.

As a resident of Alabama, I'm pleasantly surprised to hear that we have no
state income tax. I'm going to be applying to the Alabama Dept. of Revenue
to get a refund for the several hundred thousand dollars in state income
taxes that I've paid over the past few years. I'll be sure to mention that
I heard about it here

-Mike

P.S. I'm also firing my accountants, since they are obviously not as smart
as some guy on Usenet.

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.

"RG" == Robert M Gary writes:

RG 160 knots on 10 gal/hr is hard to best though.

Any RV (except the -12) will easily best that. Buy a used one for
less than the Mooney.

--
Cancel the kitchen scraps for lepers and orphans! No more merciful
beheadings! And call off Christmas!
~ The Sheriff of Nottingham

On Apr 24, 7:57*pm, Bob Fry wrote:
"RG" == Robert M Gary writes:

* * RG 160 knots on 10 gal/hr is hard to best though.

Any RV (except the -12) will easily best that. *Buy a used one for
less than the Mooney.

If you don't mind flying something an unknown person built.

-Robert

Robert M. Gary wrote:


If you don't mind flying something an unknown person built.

I don't know anyone who built my Beech. G

Clark wrote:
"Robert M. Gary" wrote in news:ceadf210-c923-4f43-b70f-
:

On Apr 24, 2:18 pm, "Matt W. Barrow"
wrote:

False Alternative.

It also misses the proper functions of government.

It also misses the nature of government.

Oh-for-three!
Plus, I would argue that with less gov't infrastructure I would have
made more money. I don't look towards the gov't to provide my
necessities and in areas it does anyway; it usually does it less
efficiently than I could myself.

Nope you wouldn't. You would have to provide for security, roadways, mails,
etc. Open your eyes and realize how much you take for granted.



I have no problem paying the local, state and federal government for
those items. What I have problems with is paying for social engineering
programs.

try fractional ownership ( llc or s corp ) with 5-10 other
folks....it keeps the costs under control, with a limited
number of users or owners....if managed right, its a breeze...

imho, flying is a trade off for other activities, as i get older, i
ask myself is the enjoyment worth the trade off of other activities...
so far, yes...as income decreases in retirement, i plan on flying as
long as "the body & eyes" hold out......

cheers & good luck !!






On Apr 22, 5:54*am, 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.
--

Regards, Ross
C-172F 180HP
KSWI

On Apr 24, 8:42*pm, Clark wrote:
"Robert M. Gary" wrote in news:ceadf210-c923-4f43-b70f-
:





On Apr 24, 2:18*pm, "Matt W. Barrow"
wrote:

False Alternative.

It also misses the proper functions of government.

It also misses the nature of government.

Oh-for-three!

Plus, I would argue that with less gov't infrastructure I would have
made more money. I don't look towards the gov't to provide my
necessities and in areas it does anyway; it usually does it less
efficiently than I could myself.

Nope you wouldn't. You would have to provide for security, roadways, mails,
etc. Open your eyes and realize how much you take for granted.

Yes, and all those would be more efficient than the gov't provided
services we have today. For what I pay in state taxes I could hire a
full time armed guard and a fireman to stand watch on my house 24x7.

-Robert