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Old 14th August 2008 | 23:27
  #64 (permalink)  
SR71

Mach 3
 
Joined: Aug 1998
Posts: 624
Likes: 1
From: Stratosphere
For those of us in our mid-30's (or in fact anyone although the general consensus is, if you're less than 30, at least aim for BA), its easy to make a spreadsheet and work out what your career earnings will be over the period you expect/want to work for the various potential options open to you....if that kind of thing motivates you.

But what most people forget, even if they adjust for expected pay-rise(s) and expected command upgrades, is that its better to have the money in your hand now, because accelerating the rate at which you pay the mortgage off now is better than expecting to accelerate the rate at which you start paying it off in 10 years when your salary catches up, so to speak.

You have to work out the net present value of the expected cash flows and then compare.

Personally, I think the LOCO industry is still a seriously laid back life compared to what I did previously and I've been doing it 6+ years. Long haul doesn't appeal at all. My long haul mates always seem to be moaning about their circadian rhythms being fubar.

I'd be pleased if I could paid like I am to do this till I'm 60...
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