tca wrote:Step 1: buy an aeroplane. Go for low acquisition/operation/maintenance costs. Speed is not a factor, in fact the slower it is, the more hours you build going places. My recommendations would include most 2 place singles, but especially the Chief, Luscombe, C120/140, Champ, Citabria, Canuck, taylorcraft, etc. It doesn't have to be pretty, but make sure that it is in good working order.
Step 2: go anywhere and everywhere that you have ever wanted to go. Go coast to coast to coast to coast. See North America as you only can from a small plane. Know your limits, and stay within them, but push them so you know how far you and your craft can go.
Enjoy!
As a general comment not directed at any particular poster, my feeling is that almost all posters that advise new low time pilots to go out and buy an airplane have never owned an aircraft themselves and therefore have very little idea of the potential pitfalls of ownership.
A true story. A fellow I know went out and bought himself a C 150 right after he got his PPL. His plan was to use it to build time and do his CPL and then sell it. He paid $16,000 for it. 3 months after he bought it the annual came due and it wasn't pretty. 3 weeks and nearly $11,000 later he got his airplane back

. It was now airworthy but still only worth $16,000

. 10 months later he finishes his CPL and wants to sell it to pay for his MEIFR. He got his $16000 asking price but it took him 10 months sell it and he had to pay for a second annual ($2500).
Bottom line
Best case: you buy a bug smasher, fly it for a year for 500 bucks of liability insurance, 600 bucks for tie down and the 30 bucks/hr for gas and oil...and then sell it for what you paid for it.
Worst case: You loose all your money........
You have got to treat it like any flight, hope for the best case, have a plan for the worst case.....