Found this on AirlinePilot Forums...
10. Buying expensive cars every few years
9. Saving only within their 401(k), no outside savings whatsoever
8. Purchasing a plane, boat, a vacation home, and other expensive needless toys--most of which depreciate greatly in value
7. Marrying flight attendants with bad financial histories and discipline
6. Depending on a social security check being there upon retirement
5. Marrying again following their second divorces (three divorces are the equivalent of giving up 15 years of seniority and starting as a new hire with a new airline)
4. Depending on their company's A fund being there upon retirement
3. Thinking that they can outsmart the markets over time by investing in hot stock picks or following market trends like a lemming (think tech stocks in 1998)
2. Buying the largest homes they can afford
..and the largest pilot wealth-destroying mistake..
1. Marrying the wrong kind of women that end up leaving/cheating /taking upwards of half the wealth the pilot earned over decades (also called Not doing their homework on the women they sign a marriage contract with)
PS: I have done all 10. *
