Originally Posted by CaptainMark

sorry..gotto go..my bentley GT http://www.bentleymotors.com/Corpora...tid=1&infid=39 needs an oil change..then it's off to a round of golf at springcreek http://www.springcreekranch.org/fw/m...t.asp?DocID=14

Originally Posted by ToiletDuck

Well like I said I've had it 8yrs. I don't know how many times it's been slammed around but in and out of Kenya, China, Japan, Thailand, Morocco, England, all over the carribean, India, Cambodia, Egypt, Uganda, Hawaii, New Zealand, Australia, Canada, Mexico, and countless snow skiing trips ect. Not to mention being used weekly while in college(5yrs which got abused more than at any airline). So I'd say it's gotten tons of actual use and it's 8yrs old. I'd say it's been shoved a fair time or two and it's still in great condition. So if it ever does break. I'll get another $40 one. Just because you fly an RJ doesn't mean anything financially. I paid for all my flight training, over $40k worth on my own while holding jobs in college and investing. I had to put $2k on a visa after I graduated but that's gone. The only loan I have out is the one on my truck. So after all of my college, all of my flight trainging, living expenses ect. I have zero debt, money in savings, maxed out Roth IRA every year, ect. and I'm still a CFI. I did have to sell my stock to pay off my credit card debt from additional training. I wasn't making more than 22% on the stock so it had to go though. But I dont know of anyone my age right now that isn't just assbackwards in debt. So I'd say my financial sense is pretty good. Good enough to where yes... $300 on a bag that does everything my $40 one does isn't a wise choice. Sorry to break it. No matter how much you try and justify it, spending 2% of yearly income as a regional pilot on luggage is retarded. So if a $40 bag breaks on you in 5yrs. By then you'll be making much more and it won't be as large of a chunk of your total earnings, you can buy another $40 or get the $300 one. So if you take my $40 bag vs. your $300 bag. We'll pretend mine broke in 5yrs (even though 8yrs old and used constantly)... If you would ahve invested that $260 difference and made 15% a year on it. You would have made an extra $522.00 off that one bag. But since you haven't made it that's how much you've spent on it. If we kick it up to 8yrs. That bag cost you $795.35 more than mine did. And if you had to make payments because as an FO you didn't make as much ect to pay it all off at once you really were taken to the cleaners with 20+% interest.

You think flying a jet has anything to do with numbers you're dead wrong. There was an investing company that ran comercials all the time on this exact thing. Showing what spending a little extra now cost you in the long run. That $260=$34,625 by time of retirement(age 60). If you saved it till age 75 and never touched it you'd get over $140k....

You're just like someone trying to tell me it's better living in california vs. texas financially speaking when cali has a 76% higher standard of living cost making that $21k salary even smaller.

So you had one question for me there's one answer. If you fly a bigger, faster, more powerful aircraft than me.... You're financial decisions don't mean crap. I actually average over 15% on my Roth IRA setups so I'd say when I retire I won't be an old pilot complaining about how crappy the industry is and how after all that hard work I have nothing to show for it. There are those on here that do.

I'd still like to know why the hell you wanted to bring this into a converstion based on 121 rules, regs, and procedures of airlines. Has no place. However I'm not going to shy away from that statement. It isn't financially sound to spend a ton of money on something that can be done with a little money. If none of that makes sense to you then I'm done with your little arguement.


Duck

Originally Posted by freezingflyboy

. My portfolio is up 40% this year ).

Originally Posted by CaptainMark

u win..i have been whipped by an 8th grader

Originally Posted by fosters

40%? You must've had all your money in gold or energy. What funds did/do you own?

Originally Posted by ToiletDuck

A student of mine is very very intelligent when it comes to the market. He invested in electric companies. He started with 3k and within 8months sold for 28k. He's got the touch. I've been saving up and I'm just now starting to sit down to figure out what I want to do with my money. If I can get 20%ish I'll be a happy camper. Roth IRA's are good but I can't cash them out if I get into a pinch.

Originally Posted by CaptainMark

u win..i have been whipped by an 8th grader

Originally Posted by fosters

I'd say that was more luck than anything. Runups like that are pretty uncommon.

You can cash out your contributions to Roth IRA's anytime, at any age.

I'm thinking Chinese telecoms (ie cell phone companies). What are your thoughts? How about your friend? He sounds like a good guy to hang around with . If I can get 7% average I'll be happy. But 20%? Darn I could retire by 40.

Originally Posted by ToiletDuck

7% is a low average. Are you sure about the roth IRA. The whole point is you can take it at 59 1/2 yrs old correct? I thought once your money was in there it was in there.

Originally Posted by N261ND

I'm glad you are here to explain this kind of stuff to people. (is the captain the pic ) are you kidding me?...these are the little "extra" things that you learn at an aviation university (at least mine). so i'm glad you and this forum are here to supplement peoples knowledge database, instead of educational institutions. as long as you don't mind answering these kind of questions...keep on bashing aviation colleges.