Net Worth

[SlowtoRoll]

Reading through the How many years to $100k thread got me thinking. Income is only a part of the equation. If you make $100k but you spend $100k to live your lifestyle - that still makes you 'paycheck to paycheck'. If you make $80k per year but can invest $10k per year on that income - you're killing it and growing your net worth.

Net worth is simply your assets minus your liabilities. Or what you own minus what you owe. Everyone thinks their house is worth more than it really is so try to be conservative.

Soooo - without making it a d!ck measuring contest - how many years flying, what kind of flying and what's your net worth?

I often wonder if I'm doing it all wrong but here it is: I'm 20 years in - $700k paid for house and $750k in investments/pension (not including CPP/OAS) and no debt. Non-Airline.

[porcsord]

Flying is my side hustle.
I would do it as a hobby anyways but since I get paid for the few days a month I work, it's technically a side hustle.

You're not really doing a fair comparison with piloting as a career.... and some back of the napkin math shows that if you averaged 10% ROI ever year for 20 years, you've averaged 1200 per month into investments. Presumably also paying off a mortgage 700k mortgage in that time at say.... and average of 3% interest, would be a payment of 3100 per month, with a down payment of 140k.... or another way to look at it is you've managed to put away (in investments or mortgage) an average of 51k per year with 140k initially to spend on the house. So, I'm going to say that given I've made some pretty generous assumptions, this is in fact a dick measuring contest and you're looking for a bit of an ego boost comparing yourself to the average pilot.

Unlucky for you, I'm 19 years in and have a net worth of 1.451 million.

[SlowtoRoll]

Ok porcsord.
You’ve failed to apply increase in real estate values. 3x increase in my neighbourhood home values and my partner has worked for those same 20 years. Investments started small but increased dramatically over the years.

I suppose I should say household net worth.

Ego boost, please. I’m actually interested in knowing when financial freedom happens for pilots. Unfortunately, 1.4m is not financial freedom for many places in this country.

[TG]

Financial freedom happens when the kids becomes really independent.
Do the two of you above have (Grownup) Kids? If yes I applaud your personal net worth.

[cdnavater]

Financial freedom happens when the kids becomes really independent.
Do the two of you above have (Grownup) Kids? If yes I applaud your personal net worth.

I’m doubting that someone with a 20 year career has a net worth that includes a paid off mortgage has any kids, let alone grown kids.
I’m 30 years into my aviation career, 37 since my first job as a dishwasher for a dive cafe, two grown kids that we got through university, wouldn’t miss my wife’s income, she works part time to keep from being completely bored.
My net worth is around 1 million, give or take 100,000.
To be fair though, I spend on toys, boat, ATV, motorcycles and we both drive brand new(not cheap) vehicles. However, as I am getting closer to retirement age I will be focusing on making sure I don’t have any debt in about 10 years when I retire.
I’m sure if I lived a much more boring life(to me), I could have quite a bit more but I have always felt you can’t take it with you and I would rather enjoy my life while I can, what good is money if you can’t do the things you love while you’re young.
As long as I have enough to pay my bills and travel a bit when I retire, that is how I will view my true net worth and life well lived.

[‘Bob’]

I'm a hundredaire.. soon to be a thousandaire.

[Reinhard]

Buy crypto. Split your stack between BTC, ETH, Arbitrum, Klatyn, and Dero. Sell in Q4 2025.

Not intended as financial advice.

Screenshot this.

[SlowtoRoll]

No kids, that’s correct.

Honestly, I was expecting to hear something from the airline crowd with their 20 + year earnings rate being quite substantial. I have always been super jealous of their earning potential.

[CpnCrunch]

No kids, that’s correct.

Honestly, I was expecting to hear something from the airline crowd with their 20 + year earnings rate being quite substantial. I have always been super jealous of their earning potential.

They probably don't feel the need to enter a dick measuring contest that they can easily win.

[trey kule]

Maybe its just me, or old fashioned values, but this thread is only marginally about aviation, and, at least, in my opinion , quite boorish. When did discussing our net worth with a bunch of strangers become interesting?

[‘Bob’]

No kids, that’s correct.

Honestly, I was expecting to hear something from the airline crowd with their 20 + year earnings rate being quite substantial. I have always been super jealous of their earning potential.

Perhaps addictions and alimony have taken an unhealthy toll on it.

Remember 2020. I bet quite a few burned through a bunch of cash if their lifestyle creeped with their earnings.

[LR200]

I'm a hundredaire.. soon to be a thousandaire.

This made me lol

[North Shore]

26 years in: wheels, floats, skis, fire, medevac, corporate.

$500