67 is dead,
05-08-2024, 08:40 AM
#623
Gets Weekends Off
Joined APC: Jan 2019
Posts: 903
/S/ If you work til 65 you need to fund 17 years of retirement. If you work til 67, you only need to fund 15. That's a 12% reduction in retirement years. The benefit is even bigger than 12%, because you are eliminating the two healthiest, most active, able bodied years of your retirement. /S/
I'm resisting the siren song of correcting math errors on the internet. Can we just accept the financial calculations as proof of cognative decline and move on?
I'm resisting the siren song of correcting math errors on the internet. Can we just accept the financial calculations as proof of cognative decline and move on?
05-08-2024, 09:47 AM
#624
Gets Weekends Off
Joined APC: Sep 2014
Posts: 919
05-08-2024, 12:09 PM
#625
Can’t find crew pickup
Joined APC: Jun 2021
Posts: 2,300
05-08-2024, 12:49 PM
#626
Gets Weekends Off
Joined APC: Apr 2007
Posts: 4,666
Inflation is a design feature of the central banking system. Invest in some income producing real estate with long term fixed rate debt and let the Fed printing press do the heavy lifting.
05-08-2024, 02:04 PM
#627
Gets Weekends Off
Joined APC: May 2022
Posts: 339
Yep. I'm actually against raising the age, as it is amusing to see how guys only "see the light" about the unfairness of Age 65 only when they themselves are approaching retirement (but it wasn't "unfair" a decade earlier).
That said, the math is pretty easy. Age 66. Senior WB captain. If you are flying, you can make $500K without too much effort, and you get 17% (or higher) to add on to the significant retirement accounts that you should have accrued over a career. You are not only not tapping into any savings at all, retirement or not, but you still are adding to them, and probably in a significant manner (house is likely paid for by now, kids are likely on their own, etc). Or, you could be enjoying retirement, but the spigot of impressive income and company-provided contributions to retirement have gone to zero. That's not bad at all--enjoy retirement that you have earned! But the math is real, and math doesn't have agendas--only numbers.
That said, the math is pretty easy. Age 66. Senior WB captain. If you are flying, you can make $500K without too much effort, and you get 17% (or higher) to add on to the significant retirement accounts that you should have accrued over a career. You are not only not tapping into any savings at all, retirement or not, but you still are adding to them, and probably in a significant manner (house is likely paid for by now, kids are likely on their own, etc). Or, you could be enjoying retirement, but the spigot of impressive income and company-provided contributions to retirement have gone to zero. That's not bad at all--enjoy retirement that you have earned! But the math is real, and math doesn't have agendas--only numbers.
05-08-2024, 04:38 PM
#630
Gets Weekends Off
Joined APC: Sep 2017
Posts: 1,005
The math just does not equal anywhere close to $2m though. I'm not saying I agree or disagree with 67, just that you can't count $1m in income and also count another million because you didn't pay expenses out of your 401k like the retired guy did. Its like $1.2-1.5m extra, maybe.
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