GA Flying Down 20%

Jay Honeck writes:

$1 million dollars, without so much as putting it in a passbook
savings account, will net you $50K per year for 20 years. That's two
decades.

In two decades, it will be worth only $27,000 in constant dollars. After
allowing for taxes and other expenses, it will hardly amount to anything.

I could live quite comfortably on that, without so much as a part-time
job...

You've probably already earned considerably more than that. Where is it now?

Sylvain writes:

I believe this is what is called rationalization.

It's called having been there and having done that.

There are a lot more people who want to live in Paris than in Iowa City.

I always figure it's an IQ test.
--
Jay Honeck
Iowa City, IA
Pathfinder N56993
www.AlexisParkInn.com
"Your Aviation Destination"

Jay Honeck writes:

I always figure it's an IQ test.

I doubt it. It's a matter of personal preference, and (in some cases)
professional obligation.

Human beings, for the most part, seem to enjoy living together. Even when
there's plenty of space, they gather to form villages, towns, and cities.
There are some people who enjoy small towns and wide-open spaces, but most
people seem to like cities, either for their own sakes or because of
advantages of city life, such as centralization, variety, etc. Some people
are obligated to live in large cities to work; they usually are unhappy.

Paris is a beautiful city with a lot to offer, so it's a popular place to
live, and since the city itself is quite small, the price of housing is very
high (although London, Manhattan, and Tokyo are much worse).

From an aviation standpoint, Paris is not necessarily very attractive. There
are three major airports serving the city, but they are quite a distance
outside the city limits, and they are limited mainly to commercial airline
traffic and cargo. The most active GA airport is apparently the tiny
Toussus-le-Noble airfield just south of Versailles, but it is not served by
public transportation and doesn't have much in the way of facilities compared
to many large GA airports in the U.S. France as a whole isn't very favorable
to GA; it was early to enter the aviation field but today many obstacles make
it extremely difficult to fly for fun in the country.

Mxsmanic wrote:
writes:

I have no idea what the interest rate or term is for that loan is nor
do I care.

Then your entire original argument is invalidated.

No child, the only thing that happens is the 28 year term goes
to some other number of years.

Even if the payment is off it doesn't change the point that if
one were to suddenly receive $1M, one can finance a house and live
for a long time on the original principal before it goes to zero..

Since you don't know or care about the details, this assertion is pretty much
worthless.

No child, the only thing that happens is the 28 year term goes
to some other number of years.

One can live quite well and for many years on $1M simply by leveraging
the money and a few intelligent investments.

Only a child would blow it all at once.

A lot of people think $1 million is a lot of money--often because they don't
know or care about the details. That's one reason why many lottery winners
are right back in the same boat a few years after winning their prizes: they
spend and spend without caring about the details, and before they know it,
that "unlimited" sum of money is gone.

Yes, there are lots of childish, immature people in the world just like
you that given a large sum of money haven't a clue how to handle it.

I personally know a couple that about 15 years ago inherited about $5M.

Three years later it was all gone spent on parties, chartered trips
to rock concerts around the world and nose candy with nothing of substance
to show for it but a 2 year old van and a drum set.

To this day they whine about the world much like you do.

--
Jim Pennino

Remove .spam.sux to reply.

"Jay Honeck" wrote in message
oups.com...
Decades? I think not. Not when a nice house alone costs more than a
million
dollars, and a mediocre house costs half a million.

A million dollar home in Iowa is bigger than the White House. A half
million dollar home is a castle.

Our four-bedroom, 2.5 car garage, 3 bath ranch is valued at $220K.

I don't know about homes in France, but if your prices are accurate,
it sounds worse than California...

Insert Iowa Real Estate joke here { }

:~)

Where? And at what inflation rate?
$1 million dollars, without so much as putting it in a passbook
savings account, will net you $50K per year for 20 years. That's two
decades.

Where I come from you can't live comfortably on that. And if the
inflation rate is (say) five percent, then in twenty years that $50K
would buy what $19K buys now.

Jose
--
There are two kinds of people in the world. Those that just want to
know what button to push, and those that want to know what happens when
they push the button.
for Email, make the obvious change in the address.

I don't know about homes in France, but if your prices are accurate,
it sounds worse than California...

Insert Iowa Real Estate joke here { }

:~)

If you fly out over rural Iowa, you will find the usual mix of farms,
tiny communities, and the like.

Interspersed at wide intervals you will see literal castles,
surrounded by hundreds of acres of farmland (that they lease out) and
a few dozen acres of groomed gardens and landscaping. With five-car
garages, out-buildings, and (some with) grass air strips.

These are the people who bought homes in the Chicago area, or southern
California, in the 1970s for $42,000, and sold them in 2003 for $1.2
million. They cashed out, built their dream home for $450,000, and
banked the rest.

Like I said, it's an IQ test.
--
Jay Honeck
Iowa City, IA
Pathfinder N56993
www.AlexisParkInn.com
"Your Aviation Destination"

$1 million dollars, without so much as putting it in a passbook
savings account, will net you $50K per year for 20 years. That's two
decades.

Where I come from you can't live comfortably on that. And if the
inflation rate is (say) five percent, then in twenty years that $50K
would buy what $19K buys now.

You can't live comfortably on $50K per year? Remember, you would be
incurring NONE of the expenses inherent with earning a living (I.E.:
Commuting, clothes, etc.)

Your tastes are obviously richer than mine. $50K annually, for 20
years, without lifting a finger, would be just fine by me...
--
Jay Honeck
Iowa City, IA
Pathfinder N56993
www.AlexisParkInn.com
"Your Aviation Destination"

Jay Honeck writes:

You can't live comfortably on $50K per year?

I couldn't live comfortably on $50K a year twenty years ago.