Flight Planning: Pilots never fly without a plan.
However, many aviators rely on a gambler’s “roll-the-dice” Wall Street roulette wheel strategy when it comes to managing their personal financial plans.
Threat consideration and robust risk management are the structural pillars aviation safety. Would you take-off without the certainty of having enough fuel to land at your destination? Pilots are risk managers first, so why not use the same risk-management skill sets in retirement planning. Incorporating training and technique into your aviation skills is not always immediate, but the best course of action in a pilot’s aviation career. The same holds true for your financial plans.
Years ago, at the beginning of a pilot’s career, the promise of a guaranteed pension by funded by airlines was a very strong reason to enter the profession. That promise has disappeared for most professional pilots, particularly those in the passenger carrier space.
To replace valuable pensions and offload risk, airlines replaced pensions with 401(k) savings plans. Yet, on a good day, 401(k) s are difficult to comprehend and highly unstable. Polluted with risks, misinformation, institutional bias and sins of omission, 401(k)s are financial chimeras that guarantee nothing.
In a state of bewilderment and not being aware of other alternative strategies, pilots frequently surrender their financial destiny to the Wall Street casino. By blindly committing to mutual funds, IRAs, 401(k) and 529 college savings plans and other like plans, aviators forgo the same certainty and safety that aviators demand in their own aircraft and for the customers they serve.
To mitigate the discontinuation of pensions, aviators would be wise to implement disciplined, long-range, conservative and mathematically sound savings programs. This approach works better over time than just leaving saving in the Wall Street gambling den. Remember, 75% of the listed stocks on the NASDAQ during the dot.com meltdown and boom in 1999 and 2000 have either disappeared or been merged out of existence. (Source: The Economist)
Join Us and Kill the Sacred Cows
At The Prosperous Pilot, we want to challenge the dangerous speculation strategy of blindly following Wall Street and the mutual fund chimera game. Join us. Kill the sacred Wall Street cows that are damaging your prosperity.
At the Prosperous Pilot, you will learn:
The headwinds and hidden costs of inflation, taxes, fees, and market risk perils embedded within your 401(k). Learn about the damaging sequence of returns problem which financial institutions do not want to talk about and how to manage this risk.
How Wall St. and giant mutual funds managing your 401(k) routinely wager and bet your savings with little transparency and zero accountability. Learn how Fidelity, Vanguard, T. Rowe Price and others gambled and lost hundreds of millions of retail 401(k) savings in illiquid risky start-up failures such as Blue Apron, Cloudera, Juul Labs, WeWork, Zenefits and others.
Why preservation of capital and increased savings rate is more important than chasing returns and increased risk.
How to reduce economic drag and headwinds. Learn how to be taxed on the seed of your savings instead of the harvest.
How to eliminate costly bank financing charges. Become your own bank. Learn how to self-finance automobile purchases, home remodeling projects, business startups, real estate investments, capital equipment and more. Learn to have personal capitalism for you and your family.
How to put guardrails and seat belts around your savings strategies as well as assets such as your home and automobiles. Learn how to weave solid risk management into your financial life.
How to de-risk your retirement IRA/401(k) nest egg. Learn why FedEx Corp., British Airways, Boeing, United Technologies, Rolls Royce, GE, Lockheed Martin, Raytheon, Northrop Grumman and hundreds of major worldwide corporations de-risk their long-term pension away from the Wall St. casino.
How to unlock the value of various retirement plans prior to 59 ½. Want to retire prior to age 65? Let us look at the possibilities. We can help you assess the best plan of action.
Learn how to protect your greatest asset, your human life value for those you love. Learn how to reposition existing assets and cash flow to turbocharge your wealth and improve velocity.