investments for pilots?

[Ninja chauffeur]

Now that most of us are stuck in lock down, paid 50% (QA, EK, EY...), and probably seeing colleagues, if not ourselves, get fired soon, it's time for me to think a bit more about the financial future.

One of the 3 airlines has paid 3 days of salary as a "bonus" to it's employees in Feb, pre-corona, while sneakily removing multiple tens of thousands of dirhams in End of Service Benefits, Health insurances, school fee allowances, internet allowances, etc... behind the backs of their employees.

Getting tired of depending on employers who dictate our lives. What are you all doing about pensions, replacement income, top up to monthly salaries, your financial future?

Gold?
Stocks?
Bitcoin?
Real Estate?
Forex?

What are your tips, opinions, plans to handle the future? Never waste a good crisis, they say...

[Adam Barfy]

NEVER ask a pilot for investment advice

[Airbubba]

Just buy a restaurant. What can go wrong?

[Python27]

Originally Posted by Airbubba

Just buy a restaurant. What can go wrong?

​​​​​​.... or a property down in the sandpit

[Neektu]

Originally Posted by Adam Barfy

NEVER ask a pilot for investment advice

Sound advice

[777boyo]

Investment for Pilots 101

1. Invest for the long term by making regular purchases
2. If it feels too good to be true, it probably is
3. Diversified portfolio - geographically as well
4. Low cost Index Trackers
5. Don't try to "time the market"
6..Get professional advice from reputable sources, read the small print very carefully especially about fees and (my opinion, others may disagree) - avoid Insurance Based products.
7. DON'T waste your time and money on "get rich quick" Commodities, Forex Trading, Futures Trading and other similar courses! There's a reason it takes the professionals years to reach a proficient skill level!
8. Don't get divorced!!!

I'm sure others can - and will - add to this list!
Best of luck.
7B

[Lcb86]

Read...

Start by reading Millionaire Expat, great book and easy to read. It is kind of oriented to expats but the principle of how to prepare for retirement, how to invest, etc applies to everyone.

[Ninja chauffeur]

Great advices. Especially the "don't buy in the sandpit" one. I made that mistake already.

I read all the books (Millionaire Fastlane, all the Kiyosaki's, 4 hour work week, Tim Robbins Unshakable, Intelligent Investor, Makers and Takers, .... and many more).

I do have real estate in 3 different continents, stock portfolio, crypto portfolio, art, ... etc.

I'm def NOT into any grow rich quick schemes, I only invest for the long term. Actually found just the investment for me that works out great overseas.

Just interesting to know what like minded colleagues invest in. Would be nice to have an exchange or motivational group! Always on the hunt!

[bringbackthe80s]

Best investment is cash in the house. Lots of it possibly.

[14 6]

I read all the books (Millionaire Fastlane, all the Kiyosaki's, 4 hour work week, Tim Robbins Unshakable, Intelligent Investor, Makers and Takers, .... and many more).

I do have real estate in 3 different continents, stock portfolio, crypto portfolio, art, ... etc.

..................…....and then you die!

[Ninja chauffeur]

Originally Posted by 14 6

..................…....and then you die!

Owwwkaayyy..? So back to getting drunk on Dom P and ordering the new G class AMG in between the Calcutta turnarounds then.

Where would you all consider real estate and what do you consider good returns/safe investment?

[14 6]

[QUOTE=Ninja

Where would you all consider real estate and what do you consider good returns/safe investment?[/QUOTE]

For one, don't build your house on sand.......ancient piece of wisdom!

[14 6]

Originally Posted by Ninja chauffeur

Owwwkaayyy..? So back to getting drunk on Dom P and ordering the new G class AMG in between the Calcutta turnarounds then.

Is that what you think I am doing? 😄

[Ninja chauffeur]

Hope not. Just wondering what the point of your answer was... Don't understand it at all.
Would you recommend flying until 65 and then become SFI, work until 75 and then drop dead on the job? I guess not, so, better take action in my thirties... Hence, the post. Always looking for advice, valid points, ideas, constructive feedback, ...

[lfbb]

I'd recommend the book "The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life"... until last month the sand pit was the perfect place for an intelligent pilot to reach financial independence and never have to put up with the ups and downs of aviation ever again. Not sure what the future holds but I'm glad to see that people like you are finally questioning the rat race.

[Private jet]

777boyo has outlined most of the salient points. What I would add is that investment is a game you start young, due to the major effect of compounding returns. If you are thinking that investment will save you and you are age 35 then you will be eventually disappointed. If you are age 45+ then forget it, you have missed the boat completely.

[macdo]

Originally Posted by Private jet

777boyo has outlined most of the salient points. What I would add is that investment is a game you start young, due to the major effect of compounding returns. If you are thinking that investment will save you and you are age 35 then you will be eventually disappointed. If you are age 45+ then forget it, you have missed the boat completely.

Hi, I agree with your first comment, but to say that you are out of the game if starting at 45 is not really true. You just have to commit more of your income to equity investment with no dumb risks or get rich quick schemes, don't hire an expensive financial guru or gold plated investment company, take every tax break your government offers and hope you don't retire in the year of the biggest financial crash since 1929. Oops, I nearly got it all correct, but even though I have suffered a big hit in the last few weeks, I still have enough to last me the next 30 years. And I started my pension saving seriously at 45.
Tips
Always have 3-5 years spending cash on deposit.
Don't waste your money on things that depreciate.
If you are a Captain, live on a FO's salary.
Oh, and don't get divorced.

[Ninja chauffeur]

Good stuff. Ordered your book @lfbb, haven't read that one yet.
I'm mid thirties and been investing for the last 8 years so hopefully not too old yet. On a captain salary but not even spending like a cabin crew, while still having a very nice life style, I believe.
(I really do want to quit this industry asap)

I wouldn't say any age is too late to start though.
@Macdo, I def don't have 3 to 5 years of spending, need to work on that. (Been buying inflation adjusted government backed assets whenever I can lately)
I do have a bit of savings but I keep thinking my EOSB would last me a year or two without working, since I don't have any loans or debts except for mortgages paid by tenants.
Would you recommend building up more cash? I'm more into cash flow than cash reserves, but it's all about finding the right balance I agree.

Love the tips and opinions, keep 'em coming.

[14 6]

Originally Posted by Ninja chauffeur

Hope not. Just wondering what the point of your answer was... Don't understand it at all.
Would you recommend flying until 65 and then become SFI, work until 75 and then drop dead on the job? I guess not, so, better take action in my thirties... Hence, the post. Always looking for advice, valid points, ideas, constructive feedback, ...

I don't blame you for not understanding! You mention a whole list of "stuff" you have already accumulated on a "pilot's forum" and then expect to receive good advice on how to get even more. None of this stuff can be taken to the grave anyway, so why bother? Real wisdom you will find somewhere else, not here. "He who dies with the most toys wins" is a big lie which I read on a t-shirt once!

[Ninja chauffeur]

I understand this thread is not interesting to you, but then don't participate, because your answers add zero value to the thread.

I don't have any "toys". I drive a 12 year old car, unlike you I don't have a fancy Breitling or other things to brag about, nor do I want them. A desert camping trip watching the sunset does it just as much for me.
I can't take my investments to the grave but my 2 boys will sure be grateful I did them one day. And I'm sure they'll benefit me sooner or later too.
My goal is to become independent of a salary, independent of employers who are dictating what we do, even in our days off. Hopefully having a choice in life, to continue to work if we want to, not because we have to. Unfortunately I don't get a fancy GCC pension so I need to take care of it myself, now.

I find there's lots of our colleagues with the same mindset. Hence this thread. Bragging is the last thing on my mind. Good tips and opinions of like minded pilots to achieve my goals sooner, is the first.