Career Earnings
07-23-2017, 12:56 PM
#11
On Reserve
Joined APC: Mar 2007
Posts: 12
Ok, let's look at 100 TFP per month. You could do that easily flying 3 days a week without even trying.
Year 4: $123.23 = $147,876
Year 5: $139.04 = $166,848
Year 6: $149.45 = $179,340
Year 7: $158.03 = $189,636
Year 8: $162.18 = $194,616
Year 9: $164.01 = $196,812
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Year 4: $123.23 = $147,876
Year 5: $139.04 = $166,848
Year 6: $149.45 = $179,340
Year 7: $158.03 = $189,636
Year 8: $162.18 = $194,616
Year 9: $164.01 = $196,812
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11-14-2017, 10:13 AM
#13
New Hire
Joined APC: Nov 2017
Posts: 5
I'm new to all of this retirement stuff, so please excuse my lack of knowledge. But 7mil in you're retirement? That seems outrageously high! Not in a bad way though...I'm just entering flight school and some of my calculations I've done have shown about 2.5-3mil in retirement. But 7? Like I said I'm really new to this so any explanation would be great. Thanks!
11-14-2017, 10:37 AM
#14
New Hire
Joined APC: Nov 2017
Posts: 5
I'm on the younger side and was hired this year. Using a spreadsheet provided to me in class with conservative growth; I have a projected lifetime earnings of 6.6m. with over 7m in my retirement. That's all assuming currently pay rates and retirement contributions. Fwiw.
I tried to reply to this and my computer froze, sorry if you're getting it twice...How do you calculate 7mil in retirement? I'm still new to all of this 401k retirement stuff. Thanks!
11-14-2017, 10:52 AM
#15
Gets Weekends Off
Joined APC: Sep 2011
Posts: 1,027
I'm new to all of this retirement stuff, so please excuse my lack of knowledge. But 7mil in you're retirement? That seems outrageously high! Not in a bad way though...I'm just entering flight school and some of my calculations I've done have shown about 2.5-3mil in retirement. But 7? Like I said I'm really new to this so any explanation would be great. Thanks!
Maybe they used SWApA Math?
11-14-2017, 11:07 AM
#16
Gets Weekends Off
Joined APC: Jul 2008
Posts: 843
Compound interest is a powerful thing.
He said he's on the younger side, so let's figure a 30-year-old newhire who defers 10% of his income, plus the 15% (as of 1/1/19) company contribution. He'll have 35 years to build the account.
I don't have a spreadsheet so can't give you the specific math, but a $200,000 income over 35 years, with the above contributions, would have $6.5 Million in the account, assuming a 7% annual return according to this Bankrate 401k calculator. 8% return would put it over $8 million.
He said he's on the younger side, so let's figure a 30-year-old newhire who defers 10% of his income, plus the 15% (as of 1/1/19) company contribution. He'll have 35 years to build the account.
I don't have a spreadsheet so can't give you the specific math, but a $200,000 income over 35 years, with the above contributions, would have $6.5 Million in the account, assuming a 7% annual return according to this Bankrate 401k calculator. 8% return would put it over $8 million.
11-14-2017, 11:46 AM
#17
Gets Weekends Off
Joined APC: Dec 2010
Posts: 353
Compound interest is a powerful thing.
He said he's on the younger side, so let's figure a 30-year-old newhire who defers 10% of his income, plus the 15% (as of 1/1/19) company contribution. He'll have 35 years to build the account.
I don't have a spreadsheet so can't give you the specific math, but a $200,000 income over 35 years, with the above contributions, would have $6.5 Million in the account, assuming a 7% annual return according to this Bankrate 401k calculator. 8% return would put it over $8 million.
He said he's on the younger side, so let's figure a 30-year-old newhire who defers 10% of his income, plus the 15% (as of 1/1/19) company contribution. He'll have 35 years to build the account.
I don't have a spreadsheet so can't give you the specific math, but a $200,000 income over 35 years, with the above contributions, would have $6.5 Million in the account, assuming a 7% annual return according to this Bankrate 401k calculator. 8% return would put it over $8 million.
11-14-2017, 12:15 PM
#18
Gets Weekends Off
Joined APC: Jul 2008
Posts: 843
I get that -- I'm in first year well. I said average, considering that a 30-year-old pilot hired today, upgrading in 13 years (just a guess), will enjoy 22 years of captain pay. I think $200k as an average salary over the career is a conservative estimate.
Consider that even at 88TFP per month, a 12+ year PIC at the end of this contract is making $259,395. The average over a 35-year career would thus be higher than $200K; I just picked it as a round number.
11-14-2017, 01:03 PM
#19
Gets Weekends Off
Joined APC: Jun 2015
Posts: 191
Wow. My first year on the old contract I averaged 14 days off a month and did north of 100k. Are you giving away everything?
11-14-2017, 01:57 PM
#20
Gets Weekends Off
Joined APC: Oct 2006
Posts: 2,920
I'm on 2nd yr, pick up a day trip or a 2 day a month. Usually end up with 14-16 off and live in base. I'm averaging 125/mo and will make around $160k this year without counting per diem or profit sharing.
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