Owning in retirement

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 Apr 23, 6:13*pm, (Alan) wrote:

* You are making about $346,200 and think you are getting the short end?

* How rough it is.

I earned it, the gov't didn't.

-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

Clark wrote:
"Robert M. Gary" wrote in news:04531735-9d6d-407a-a00e-
:

On Apr 23, 6:13 pm, (Alan) wrote:

You are making about $346,200 and think you are getting the short end?
How rough it is.
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?



Let's stick to the original post.

--

Regards, Ross
C-172F 180HP
KSWI

The minimum that we all can do is develop a group of non-owning friends
willing to fly with us and share the direct expenses. It makes gas prices
less painful and helps promote GA.

--
Best Regards,
Mike

http://photoshow.comcast.net/mikenoel


"Robert M. Gary" wrote in message
...
On Apr 23, 6:13 pm, (Alan) wrote:

You are making about $346,200 and think you are getting the short end?

How rough it is.

I earned it, the gov't didn't.

-Robert

Mike Noel wrote:
The minimum that we all can do is develop a group of non-owning friends
willing to fly with us and share the direct expenses. It makes gas prices
less painful and helps promote GA.


I have always been sole owner of the plane. I have been thinking about a
partnership, but then I have someone else to work with on how it is
flown, maintainence, etc. I have never been there. Not saying it is bad
as lots of folks do it. I guess a two way partnership splits everything
50-50 except the gas, oil, and reserves. Need to look at what AOPA has
on the website.

--

Regards, Ross
C-172F 180HP
KSWI

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

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