What To Do Now With My Money?

[GREGCART]

Hi Folks,

I ve just finished my FAA MULTI INSTRUMENT RATING, I have a commercial with 500 hrs total time.
As I have been working for the last 15 years, I can say that I ve saved quite a lot of money to build time if necessary to have any chance to get hired.
So, if you were me what would you do with that money (70,000 euros) to maximize the chance to find a suitable co pilot position anywhere in the world?
Thanks for advice.

Greg

[Captain_djaffar]

give me....








:E:E:E

[Deano777]

Keep current, invest it and sit tight for 18 months to ride out the storm.

[redsnail]

The FAA license is good for most parts of the world however, it isn't much use for Europe.

If working in Europe on a member state aircraft, you'll need to convert it.

I'd start working on the JAA ATPLs part time. Plan to take 12 months or so to do it. Then work on converting the flying part. By the time you've done all of that, it should be about 18 months down the road so to speak. Much better idea of how things are going economy wise and you'll be current and in a reasonable chance of finding something, given you're not a "brand new pilot".

[MIKECR]

I would start tragetting N reg biz/corporate stuff. King Air or citation perhaps. With 500 hours you might just strike lucky. Start looking at flightglobal, IPA,etc. Lots of Middle East jobs advertised just now for crews for N reg biz jets.

[GREGCART]

Okay thanks for your answer. However, I think that I should build some multi time, what do you think about eaglejet time building programs?

[nich-av]

what do you think about eaglejet time building programs?


Are you seriously considering to pay to work?
Do you have any idea of how many years you will need to work to regain the money you'll spend??

Many schools are looking for instructors, go that way and save your money. If you want a jet job and you want it now, go to the middle-east, you'll find plenty, and you'll be paid.

[MIKECR]

Personally I think these schemes(assuming you mean 'pay to work' type stuff) are an utter disgrace, but hey...thats just my opinion.

As I said earlier, I would start targetting the N reg market.

[lazy george]

Bet it all on black and double your money!! The airline industry is a bigger gamble than roulette. Fact!

[zondaracer]

How about get your CFI, CFII, and MEI. Use the remaining money to invest/save so once you get hired by a regional you can survive the first two years FO pay. Get a part time job as a CFI or even a fulltime and build hours that way. Get paid to build hours instead of blowing your wad, so to speak. That's what I would do.

[petesevenseven]

If I were you I would go to africa and get some real flying experience and have lots of fun at the same time.

Your FAA Licence would have to be converted but thats not a big issue.

A good place to start would be tanzania:ok: Loads of operators some good some bad but they definately need crew down there a good place to start out.

Happy Landings!!!!!



Pete77

[B2N2]

Don't waste your money, you already have 500 hrs. Not a whole lot but should b e enough for entry level operators.
Start looking for operators that might be interesting for you.
Talk to them. Take training specifically for the plane they fly.
Cessna Caravan type training initial is like $4K

[THE WELSH WIZARD]

DO WHAT YOU FEEL LIKE DOING, (WHAT YOUR HEART SAYS).

ITS YOUR MONEY AT THE END OF THE SECTOR.!!!!!

GOOD LUCK ANY WAYS.


:ok: WW

[corsair]

The first thing I would do is convert to a JAA licence. Then you would at least be employable in Europe. I would not having anything to do with the the pay to fly schemes. They are an utter disgrace as MikeCR says. Better to become an Instructor or go to Africa as someone suggested. Your aim right now should be to hang onto as much of that money as possible and get someone else to pay you to fly. Skydive pilot, glider tug pilot etc. Plenty of that in France?