TERA -- worth the adventure?
12-20-2013, 03:38 AM
#1
Gets Weekends Off
Thread Starter
Joined APC: Jun 2013
Posts: 256
TERA -- worth the adventure?
ALCON (esp AF types):
Pending notification of eligibility, is it wise to punch your early retirement ticket (17+ yrs) to gain an airline position?
Obviously every person's situation will be different?
I would assume that the "best of both worlds" is to eject and collect AND get a class date all within the same short timeframe. I, on the other hand, would LOVE to punch, but the financial uncertainty of NOT immediately finding employment is daunting, especially with 3 teenage kids, has me doubting.
Anyone else out there eligible for TERA considering the option?
Pending notification of eligibility, is it wise to punch your early retirement ticket (17+ yrs) to gain an airline position?
Obviously every person's situation will be different?
I would assume that the "best of both worlds" is to eject and collect AND get a class date all within the same short timeframe. I, on the other hand, would LOVE to punch, but the financial uncertainty of NOT immediately finding employment is daunting, especially with 3 teenage kids, has me doubting.
Anyone else out there eligible for TERA considering the option?
12-20-2013, 06:45 AM
#2
Line Holder
Joined APC: Dec 2013
Position: B717
Posts: 56
I am in a similar situation. After my upcoming deployment I will have 19 years in; if they offer it to the 11X AFSC, I may consider it. There are lots of opportunities out there, so I say do the math and figure out how much you lose by retiring early versus the realistic gain of starting an earlier second career, regardless of your new career path!
12-21-2013, 09:19 AM
#4
Prime Minister/Moderator
Joined APC: Jan 2006
Position: Engines Turn Or People Swim
Posts: 40,205
If you want to be an airline pilot eventually anyway, and have the opportunity to retire early and get a legacy airline job go for it.
There's some risk of course but odds are it will pay off financially and in QOL.
There's some risk of course but odds are it will pay off financially and in QOL.
12-21-2013, 10:53 AM
#7
Gets Weekends Off
Joined APC: Apr 2013
Posts: 3,705
Run the numbers in excel or any other calculator. It is worth it.
After you are eligible to retire, you are working for a fraction of your pay. In the case of the standard 20 year retirement it is 50 percent. Of course there is that 2.5 percent boost per year, but why languish on active duty when you could get a seniority number and collect your mil retirement? With 2014 looking like it is, I would punch immediately if I could. I have to wait until Jan 2015.
Worst case scenario, collect a retirement check and work at Home Depot waiting for a call. If you need to stay current, get your CFI and moonlight.
After you are eligible to retire, you are working for a fraction of your pay. In the case of the standard 20 year retirement it is 50 percent. Of course there is that 2.5 percent boost per year, but why languish on active duty when you could get a seniority number and collect your mil retirement? With 2014 looking like it is, I would punch immediately if I could. I have to wait until Jan 2015.
Worst case scenario, collect a retirement check and work at Home Depot waiting for a call. If you need to stay current, get your CFI and moonlight.
12-21-2013, 11:53 AM
#8
Line Holder
Joined APC: Dec 2013
Position: B717
Posts: 56
Holy Cow: A Free for All, Almost
After I saw your post I went searching. Couldn't download the official memo, but the summary bullets offer enough insight to figure out who is eligible. This is a big game changer for a lot of people!
I say do the math and figure out the best COA for the future airline/corporate pilots. I know I am! I better get cracking on those apps.
12-21-2013, 04:24 PM
#9
Gets Weekends Off
Joined APC: Dec 2013
Position: 73N FO
Posts: 179
Sounds like you hit the nail on the cranium there...thinking long term vs. short term.
12-21-2013, 04:53 PM
#10
Gets Weekends Off
Joined APC: Aug 2006
Position: C130
Posts: 303
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