Originally Posted by illini90

You’ve all flown with those captains that bragged about getting to 150 hours/month or more, working their tails off to make a pile of money. One of my favorite guys retired recently, hardly able to walk anymore, but hit 180 hours/month regularly. Now he’s 65, and probably hasn’t taken his kids or grand kids fishing or skiing in the last ten years, because there was flying to be had, money to be made. “Sorry, kiddo, I was going to take you fishing today, but Skeds just called with a greenie…maybe next week, depending on the coverage.” With the money we pull down, working a normal ALV, and investing what will be 18% in a couple years…how can you be trading time today for incremental gains in the future? What do you want to do with a zillion dollars when you’re 65? Count it all day? I’m sipping an Aberlour 18 yr whiskey as I type this, that I picked up today on a layover for $140. I made that back before I turned the landing lights off, passing 10,000’. My buddy would have had a heart attack, spending that much out of his 180 hour month. I choose to enjoy it today, because I’m pretty sure 18% of my W2, over the years, will set me up just fine. I don’t want to look back and see what I could have done with this pile of gold, if only I would have used some of it earlier to be with my friends and family, or buy the fishing pole or hockey stick I always wanted. That’s why I’ll max out my 401K, take my spill cash, and make my own decisions with it. You can do all your analysis, all day long…knock yourself out. I’ll be in the South Platte River, with my family and my dog, reeling in some sweet rainbow trout, enjoying life.

Originally Posted by capncrunch

September 21, 2016
16-14
VEBA Update

This death benefit, while available, is limited to the pilot’s spouse or eligible dependent(s). It was previously communicated that upon your death and the death of your spouse, amounts remaining in your VEBA account up to $50,000 could be paid to a designated beneficiary. Further research has uncovered an IRS ruling that prohibits a death benefit in conjunction with a Health Reimbursement Account or VEBA to a beneficiary other than your spouse or eligible dependents.

Originally Posted by Gone Flying

I'm curious, if the opt out rate is well over 50% for those hired in the last 10 years if the union will find a way to make it optional for new hires.

Originally Posted by Scoop

OK - I just passed the 59 1/2 YO Milestone and at first look (more research is needed) I am thinking about enrolling for this reason. Please tell me where I am going wrong. After reading this statement:

• An in-service withdrawal option is available prior to retirement, annually for pilots who have reached age 59 ½. This option is available as long as the pilot’s MBCBP balance is at least the sum of all contributions and does not require any Company “plus up” as outlined above.

Does this mean that I can opt in - enjoy the 1.8% ALPA savings on my excess and then once every year pull it out and use it exactly as I could my excess as long as the plan is not negative?

Thanks Scoop

Originally Posted by First Break

I’ll also add that there are no doubt pilots who have legitimate reasons to opt out and will be better off by doing so, but I’ve yet to see a single example discussed in this thread.

Originally Posted by RedeyeWarrior

Been here 20+ years…I have less than $1000 total in excess cash…so saying a new hire is stuck with this for 3 decades isn’t accurate.

Originally Posted by crewdawg

Pilots with a decent amount of real estate investments who can file as real estate professionals. Agree that a vast majority of the pilot group won't ever fall into that bucket, but there are more than a handful out there.





Are you front loading your 401a? Many are, thus they're getting to the limits much faster than most.

Originally Posted by CBreezy

What do we think the average pilot is getting with respect to excess cash

Originally Posted by First Break

So, could the MBCBP take the place of your other low risk assets, freeing those funds up to seek a greater return in your 401k? If so, why would you want to abandon the obvious benefits provided by tax deferral?

Originally Posted by Gunfighter

You don't need the biggest pile, if you have a steady stream of income.