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Roll it over to an IRA





Roll it over to an IRA   

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Author: Financial advisor   Date: 7/15/2021 9:13:44 AM  +1/-1   Show Orig. Msg (this window) Or  In New Window

Here's where lots of pilots mess up. Most of us do not know enough financial details to properly invest. My suggestion is to get a financial advisory in your 30's. Don't wait like me to get one in my 50's. Stats show that those with a financial advisor early 4-7% more that those who try to go it alone. 


The real problem is that company plans do not provide enough diversity to weather the ups and especially the downs. So many pilots, especially the young ones, think they have it all figured out. Get a professional.


My example is consistent with many I worked with. I did a career in public safety and promoted up the food chain so I have a great retirement. From there 14 years of HAA and only made over 100K for 3 years. (Was just under it for 3 more years) At 58, I got in touch with a long time friend and financial advsisor. He's also fiduciary. I always thought he was one of the high end type of financial professionals. Finally I asked and he said he would rather get someone involved younger than older to get them on path to financial independence. I signed up and he really changed my financial future. 


He also manages a few other pilots from my former company. One who was able to retire a year earlier than planned. For me, I retired with a paid off house, a new car and an airplane. Most importantly, never have to worry about money again. This was accomplished in roughly 8 years. Think what he could do with someone who gets set up in their 30's. I'll be happy to provide the name if you post your email. I get nothing except the satisfaction of helping Brother or Sister professional with their financial future. Great stuff.

 
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