My options?
 

Hello everybody!!

Right, as some of you are aware, I recently got binned by the world's favourite (pfff not mine anymore!!) and am now in the position of making a few decisions about the next 3-5 years.

I do not want to go heavily in to debt cos I need a financial backup. I have no big money I can get my hands on, apart from obviously the banks, so I have I think 2 real options about pursuing a flying career. Currently I am 27 and am fortunate enough to live at home and therefore able to save a considerable percentage of my hard earned cash.Options:

1. Go heavily into debt for the madium term, without ANY guarantees or fallback options financially if it all goes tits up, or

2. Buy a house and sit in it a few years, and hopefully release a little equity from it in a few years and then go for it.

What does everyone think of this little idea?
Just interested really in what people think.

BA are history in my mind now, and I do thank EVERYONE so much for their encouraging words a few weeks ago. I am now done with feeling pissed off, and so I am looking to the future and the options open to me.

LORI

LORI,

Commiserations on the BA thing, saw the posts a while back. Dust off and move on man,which is what you seem to be doing!! I don't have the answers you're looking for, but I'm in a similar position. I'm 26 now, I have applied to BA but I'm viewing it as something to keep on the back burner - if it happens, excellent, if not - well, keep truckin' as they say!

I take it you're probably a zero hours man, like myself at the moment. (Apologies if you have a PPL or something!) I too am trying to put a plan into action - where does one get the cash??

The house option could be a runner, but then there's the mortgage payments, which could be split with some mates I s'pose.

I'd say that doing the PPL in the States could be an economical way of getting the ball rolling, then doing a bit of hour building there towards the CPL afterwards. It's a hard one to call, I'm looking for the answers too.

Then of course we could go b%lls out and borrow the £35k and make damn sure it works out! Maybe it's missing the point, but I wouldn't let the fact that there's no guarantee of a job at the end of it all put me off. The nature of this whole game is one big, expensive risk. The only guarantee you, me or anyone can have is to decide that, right, I WILL have a job out of this, otherwise I wouldn't be doing it.

Easier said than done, I know. And not the answer you need, but there you have it. Nice to have met you anyway!! Talk to you again soon, and good luck with your plans.

WD

Carpe diem and all that. If I don`t get in with bmi this time round its get a big loan time and get on an integrated course.
Its a risk but hopefully one that is worth it. Hope you make the right decision.

Cheers

Hi there!

What about the modular route?

You are in a very good position for that! If you don't have a huge financial commitment such as a mortgage and all related expenses that derive from owning a house, any average job should be able to finance a carefully planned modular route. This might be quicker then waiting for that sum of money required for an integrated. And it is also safer ...

But this is jst an opinion! Whatever you do, don't spend to much time thinking! Life is short!

All the best!



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TheNavigator

Don't buy a house mate, with the economy slowing down etc, and house prices at an all time high, it is quite feasible that the boom soon turns to bust.

Personally I would just go for it, if I was you. Do it why u have the opportunity before life takes u down a path that leads away from flying etc. U never know what is going to happen around the corner.

Best of luck mate

Sagey

Just go for it !
I`m 28 on my second wife, just sold my beloved sports car and will have the house up for sale within the next couple of months
(yes my wife backs me 100% for moving back into my mothers home)
Like most I know its a risk but so is running your own business !
For me its the modular route whilst I try to balance it with my full time job, but as I cruise down the runway at Manchester Airport next-week I will be thinking "well at least I will have something to tell my children if it all goes tits up"

Good Luck,
You have only one life, so use it !

Similar position with me...26, no commitments, reasonablly well paid job, no substantial wads of cash saved.

I'm considering the modular route, firstly getting the ppl (in the US). The only thing I'm concerned about is how to take time out for flying and also keep the job which will be funding it?? I mean 5 weeks in the US for ppl is possible but that would be all my holiday used up for the year, so I'd have to wait a year before going off to do the next stage.

I could use the local flight schools, but living in the south west (nr Exeter) the only schools around charge approx £100 per hour-- not the cheapest way to do it!!

(Then there's the problem of not having a mortgage and not likely to be able to get one for another few years whilst training, do I want to be paying a mortgage into my 60s, the clocks ticking and all that!)

These are the concerns I am currently juggling in my head, but having said that I am sure it will all be worth it in the end...this is where you reassure me..! :) :)

Hi Newborn Aviators,

I was reading your postings and must say it reminded me of my position some 15....sorry 18 years ago(..i´m getting old).

Well to make a long story short..(because it was a long story). I just decided to get a huge loan and go for it, times has been differcult, but I loved every minute of it.

Today I´m flying the Boeing 767 with one of the majors as a senior F/O, and things has settled a bit.

I was young and hungry, but never really understood where my actions would bring me....

I did get a job rather fast, but lost it due to recession, and had to leave my home country and work abroad.....it would take a further 5 years before I could return back home, and that commuting back and forth to my Base from home.

The commuting lifestyle is something I have got used to, and now I can see that I have one of the best jobs in the industry with quality of life to go with it....but it took time...

So I had a lot of fun and a lot of shattered social life....and now life begins to settle. So if you are in for a ride and willing to fight and be flexable with lots of uncertanty....Go for it!!!
If you want to have a good and stable life without risks and challanges for atleast the next 7-8 years....Forget it.

What ever your choices are, once you are going down that runway....passed V1...do not stop!! You are and have to be 120% commited.

Good Luck to you all!!

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Born to fly, taxed out of the sky.....

One big kiss and another big hug for AirbornRanger! :-)

jlms

[This message has been edited by jlms (edited 03 May 2001).]