Van's Air Force
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At what point is it too much?
- Thread starter cjensen
- Start date
rocketbob
Well Known Member
I have a bit over 1100 hours now running 87 octane mogas, safely, with no problems. I just don't get why folks think they need to run 100LL. May as well light $100 bills on fire and throw them in the toilet.
Side note: a week ago Steve Hinton came up to move the F-86 maintained by a good friend. 200 gals of 100LL mixed with 200 gal of Jet A for a 20 minute flight. Now thats literally how one can burn thru a big pile of cash quickly.
Side note: a week ago Steve Hinton came up to move the F-86 maintained by a good friend. 200 gals of 100LL mixed with 200 gal of Jet A for a 20 minute flight. Now thats literally how one can burn thru a big pile of cash quickly.
We are just wrapping up our snowball, my wife and I are fans of Dave though we don't follow them to the letter. Being debt free is a marvelous thing and now we are saving for a house in a year or two and I'm saving up to buy my wings hopefully this summer.
I'm praying for a new fuel to come along in the next few years before I get to my FWF. (Or the rats in the swamp get rid of the insane ethanol policy/laws so we can all use MOGAS.)
I try not to think of the costs, I need my altitude therapy.
I'm praying for a new fuel to come along in the next few years before I get to my FWF. (Or the rats in the swamp get rid of the insane ethanol policy/laws so we can all use MOGAS.)
I try not to think of the costs, I need my altitude therapy.
ColoCardinal
Well Known Member
Anything spent beyond a few lentils, some clothes and a box to crawl in is discretionary. The cash spent on a weeks supply of Starbucks latte's will keep you in the air for an hour. Which would you rather have? I'd rather fly and drink the coffee McD's is giving away.
Partnership........50%
Chad I feel your pain especially due to the uncertainty of the future for retirement and the economy. I feel affording the airplane should be no problem but it sure would be, or should be
, a lot easier to have a partner to share the expenses.
As much as the airplane is flown it makes sense to share the project and flying with. Besides I enjoy working with other people vs working on the plane myself.
Anyone in Michigan around the Brighton area interested pm me and we'll talk.
I think we all are sharing your pain otherwise we'd all have a turbine glass air.
Chad I feel your pain especially due to the uncertainty of the future for retirement and the economy. I feel affording the airplane should be no problem but it sure would be, or should be
, a lot easier to have a partner to share the expenses.As much as the airplane is flown it makes sense to share the project and flying with. Besides I enjoy working with other people vs working on the plane myself.
Anyone in Michigan around the Brighton area interested pm me and we'll talk.
I think we all are sharing your pain otherwise we'd all have a turbine glass air.
douglassmt
Well Known Member
Club planes
A reference point: we have a club here in Missoula that costs $250 one time to join, then $60/month. For that you can fly one of three different C-172's, one of which is an XP. They rent for $53/hour (wet), with the XP going for $65/hour (wet). There is virtually always a plane available, but it's a bit harder to take one for more than a day or two. Best deal I've ever heard of, and a very cheap place to earn a license/ratings, but I'm still building a -10 because I want the performance and room and ability to use it whenever I want. I might end up with a non-owning partner if I find the right person, but still worth it if not.
A reference point: we have a club here in Missoula that costs $250 one time to join, then $60/month. For that you can fly one of three different C-172's, one of which is an XP. They rent for $53/hour (wet), with the XP going for $65/hour (wet). There is virtually always a plane available, but it's a bit harder to take one for more than a day or two. Best deal I've ever heard of, and a very cheap place to earn a license/ratings, but I'm still building a -10 because I want the performance and room and ability to use it whenever I want. I might end up with a non-owning partner if I find the right person, but still worth it if not.
cjensen
Well Known Member
Keep you priorities in order. God, Family, then work. Fly to be closer to God, take your family with you, and work so you can fly more.
That's just awesome Jeff!
I've talked with several of my local buds about this topic as well, and I think we are all (well, most of us anyway) in the same boat with regard to keeping the cost in check. That is, to keep it it on a burner so to speak. May not be the front burner, but on a burner. I plan to continue to fly, to keep the RV, to build a Hummel Bird for days when I just can't, or don't want to afford a couple hours in the RV.
At least for me, and the direction that my wife and I intend to take our family finances, that this topic has to be on the front burner, and talked about whenever needed. I'm not going to ignore it (like some people have hinted at). I can't ignore it. Living life to the fullest includes responsibility to keep life in check, right? That's what this thread is all about to me.
I think maybe I need to go fly today.
jferraro17
Opulence, I has it...
Find a guy who needs a safety pilot, and let him pay for the gas...in exchange for RV stick time and buying his 7 dollar burger! Works great for me!!
Jack Tyler
Well Known Member
Looking at the large number of posts in such a short time, it's obvious Chad's hit one of the tender spots.
Chad, here's my suggestion: Seriously consider selling a share in your RV by forming a partnership. We were going to sell our a/c (ultimately, because we were sailing off in a few years and didn't have the $$ for flying plus prepping a boat) but got cold feet when we looked at the condition of the rental planes available to us. I got the AOPA partnership package, spent time thinking about how to modify the agreement to address a few specific concerns we had, and began looking for several other partners. After partner #1 was added (my former IFR instructor), he became involved in choosing #2 and reshaping the agreement, and so forth.
In our case, we ended up with 4 partners owning a plane that, 11 years later, is still flying under the same partnership - and with great success. Some of the partners have changed over time (one left to buy a half-share in an RV-4) but the biggest worry, loss of access to fly when one wants, was never a problem. One reason for this, aside from a nice group of partners, is that we chose partners based on mixed work- and life-styles: one retired, one United pilot doing South America runs, and two working stiffs.
We Americans have this entitlement habit of not only wanting to possess all kinds of non-essential things but wanting to own them exclusively. Your plane is probably just like ours was: tied town or in a hangar 98% of the time and unused. Before asking 'ultimate' questions like is flying too expensive for you, your preferred lifestyle and your budget, why not ask less dramatic ones like 'Just how much of a compromise would it be to share my a/c?'
I enjoyed a great visit to a local aerodrome outside of Brisbane last week, and my 'host' - a SP CFI there - was telling me how excited he was to be flying a brand new microlight (the equivalent here of LSA a/c). The joy didn't seem to be diminished a iota by the fact their 'consortium' numbered 10 co-owners. Think about it...
Jack
WHOOSH, currently berthed in Manly, QLD
Chad, here's my suggestion: Seriously consider selling a share in your RV by forming a partnership. We were going to sell our a/c (ultimately, because we were sailing off in a few years and didn't have the $$ for flying plus prepping a boat) but got cold feet when we looked at the condition of the rental planes available to us. I got the AOPA partnership package, spent time thinking about how to modify the agreement to address a few specific concerns we had, and began looking for several other partners. After partner #1 was added (my former IFR instructor), he became involved in choosing #2 and reshaping the agreement, and so forth.
In our case, we ended up with 4 partners owning a plane that, 11 years later, is still flying under the same partnership - and with great success. Some of the partners have changed over time (one left to buy a half-share in an RV-4) but the biggest worry, loss of access to fly when one wants, was never a problem. One reason for this, aside from a nice group of partners, is that we chose partners based on mixed work- and life-styles: one retired, one United pilot doing South America runs, and two working stiffs.
We Americans have this entitlement habit of not only wanting to possess all kinds of non-essential things but wanting to own them exclusively. Your plane is probably just like ours was: tied town or in a hangar 98% of the time and unused. Before asking 'ultimate' questions like is flying too expensive for you, your preferred lifestyle and your budget, why not ask less dramatic ones like 'Just how much of a compromise would it be to share my a/c?'
I enjoyed a great visit to a local aerodrome outside of Brisbane last week, and my 'host' - a SP CFI there - was telling me how excited he was to be flying a brand new microlight (the equivalent here of LSA a/c). The joy didn't seem to be diminished a iota by the fact their 'consortium' numbered 10 co-owners. Think about it...
Jack
WHOOSH, currently berthed in Manly, QLD
hours
how did you arrive at that number? I posted a survey here on that question back in the late summer or early fall, and based on the votes I saw I would guess the number is higher than that.
I agree there is no magical cutoff cost, but if gas were 10/gal, i would certainly pack it in, sell the RV and hangar and buy some really nice (much cheaper) toys for my other hobby (music). Maybe buy a cottage or something.
I'm not as devoutly religious about flying as many people here (perhaps I don't truly "belong" in the community) - to me it is a luxury, a hobby, but not something I am willing to sacrifice too many other luxuries on behalf of my wife and child. At $25-30/hr for fuel, I fly slow and maybe only 60 hours per year. If it went to $50/hr I would probably decrease that to below 50 hrs/year. If it exceeded $75/hr I'd almost certainly say enough is enough and enjoy the big wad of cash I'd get from selling the plane and hangar.
how did you arrive at that number? I posted a survey here on that question back in the late summer or early fall, and based on the votes I saw I would guess the number is higher than that.
I agree there is no magical cutoff cost, but if gas were 10/gal, i would certainly pack it in, sell the RV and hangar and buy some really nice (much cheaper) toys for my other hobby (music). Maybe buy a cottage or something.
I'm not as devoutly religious about flying as many people here (perhaps I don't truly "belong" in the community) - to me it is a luxury, a hobby, but not something I am willing to sacrifice too many other luxuries on behalf of my wife and child. At $25-30/hr for fuel, I fly slow and maybe only 60 hours per year. If it went to $50/hr I would probably decrease that to below 50 hrs/year. If it exceeded $75/hr I'd almost certainly say enough is enough and enjoy the big wad of cash I'd get from selling the plane and hangar.
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cjensen
Well Known Member
Can't do it...I'm a firm believer in the old saying that "the only ship that won't sail, is a partnerSHIP."
I've been in two in the past, neither was fun or worth it, but that's just my personal experience. I'll own it, or I won't. If it was about buying, fixing, making money, then maybe, but not do own. I snipped out most of your post Phil, but only because it's right above...we think a lot alike...
John Clark
Well Known Member
Assumptions
The reality is that your "big wad of cash" is going to decrease as the cost of fuel, and flying in general, goes up.
John Clark ATP, CFI
FAA FAAST Team Member
EAA Flight Advisor
RV8 N18U "Sunshine"
KSBA
The reality is that your "big wad of cash" is going to decrease as the cost of fuel, and flying in general, goes up.
John Clark ATP, CFI
FAA FAAST Team Member
EAA Flight Advisor
RV8 N18U "Sunshine"
KSBA
Indeed, that is a good point (albeit a depressing one).
Actually, now that I think about it, there is an alternative. Assuming Mogas stayed reasonably affordable, maybe i would invest in some sort of transport and storage mechanism to get mogas out to my plane - a trailerable fuel drum or something (assuming I could find a source of ethanol-free high-octane gasoline). My engine manufacturer has indicated I could run premium autogas in my O-320 as long as it doesn't contain ethonol.
RVbySDI
Well Known Member
debt issues
Chad,
You originally posted about dealing with this question as it relates to your attempts at reducing/eliminating debt via following the systems of Dave Ramsey.
A question I have concerning this: Do you believe you would be able to eliminate your debt while still spending money on flying? If you believe this is doable then perhaps you will have to create, and then stick to, a budget that includes flying as part of your household budget.
I can attest to the benefits of living debt free that Dave Ramsey professes. Although my wife and I still have a mortgage on our house (we are just about to get it payed off), and a couple of various voluntary short term loans over the years (that were all payed off in less than a year from their inceptions), we have managed to pay cash for all of our purchases. That has included having the great fortune to pay for my RV in full as I built it. I know this position is not the norm and I am very grateful that I have been able to be in this position. Except for the voluntary short term loans and our home mortgage, we have enjoyed the debt free life for 18+ years now.
Let no one convince you that debt is good. It is truly amazing how liberating emotionally not owing to anyone can be. I believe freedom cannot be had unless first one breaks from the bondage of debt. It is as devastating to our emotional freedom as actual chains are to our physical freedom. I applaud your efforts and the efforts of anyone else reading who is pursuing the debt free life. Good luck with your contemplations and the final decision(s) you make.
Chad,
You originally posted about dealing with this question as it relates to your attempts at reducing/eliminating debt via following the systems of Dave Ramsey.
A question I have concerning this: Do you believe you would be able to eliminate your debt while still spending money on flying? If you believe this is doable then perhaps you will have to create, and then stick to, a budget that includes flying as part of your household budget.
I can attest to the benefits of living debt free that Dave Ramsey professes. Although my wife and I still have a mortgage on our house (we are just about to get it payed off), and a couple of various voluntary short term loans over the years (that were all payed off in less than a year from their inceptions), we have managed to pay cash for all of our purchases. That has included having the great fortune to pay for my RV in full as I built it. I know this position is not the norm and I am very grateful that I have been able to be in this position. Except for the voluntary short term loans and our home mortgage, we have enjoyed the debt free life for 18+ years now.
Let no one convince you that debt is good. It is truly amazing how liberating emotionally not owing to anyone can be. I believe freedom cannot be had unless first one breaks from the bondage of debt. It is as devastating to our emotional freedom as actual chains are to our physical freedom. I applaud your efforts and the efforts of anyone else reading who is pursuing the debt free life. Good luck with your contemplations and the final decision(s) you make.
Hi Chad, remember me?
I got to the point you are at now about 3 years ago. That's why I made the decisions I did. I couldn't justify the RV-4 any more. Now I have a Rans Coyote, burn auto fuel, and go a lot slower. But I'm still in the air.
Flying is part of what defines me, but it does not singularly define me.
I got to the point you are at now about 3 years ago. That's why I made the decisions I did. I couldn't justify the RV-4 any more. Now I have a Rans Coyote, burn auto fuel, and go a lot slower. But I'm still in the air.
Flying is part of what defines me, but it does not singularly define me.
Bob Kuykendall
Well Known Member
Can't do it...I'm a firm believer in the old saying that "the only ship that won't sail, is a partnerSHIP."
I don't understand. Who was it you were discussing this with back at the beginning of the thread?
cjensen
Well Known Member
Oh yeah...we budget every month down to the last dollar for the money we make in our career work. I work two extra jobs to pay for flying...
I hear you 100% Steve, and thanks! I can't say that I didn't borrow to finish the airplane as that was "pre-Dave Ramsey", but working hard to eliminate it, and never do it again!! Can't wait!
It started with my wife a couple nights ago...if that's what you mean.
Yeah, yeah...partnership. That's love tho man! Hehe...As with any statement about emotions, that's a very personal thing. I, for one, don't feel particularly devestated by my mortgage or credit line. I view debt much like any other bills (don't get me wrong, I don't carry a credit card balance and certainly live well within the debt I can carry). I have to pay the utilities companies every month to have gas and electricity, the phone company to have comms, and the bank to be able to live in my house while I earn the money it costs to pay for it. The point is, most people want to do things like go to university, live in houses and drive cars early in life before they have had the many years it takes to accumulate the money to do those things. I think debt is a wonderful thing from that perspective. In a day and age where money is relatively cheap, it allows us to get much more out of our precious few years on the planet.
If debt really stresses a particular individual out, then sure, that person should strive to eliminate it at all costs as early as possible, but not all people are that stressed out by debt.
bkc3921
Well Known Member
My 0.02
Chad..Here is a somewhat "philosophical" answer to your question "do I want to afford it" and the statement that gas at some point "Has to be too much"..Well, I'm not so sure.... It may be a cliche, but flying is not only a hobby..it's a way of life. For every hour in the air, there are many hours at the airport meeting friends, telling stories..and the sense that we are all part of something greater than ourselves. As a student of history, I am humbled by the thought that I am lucky enough to live in a time when powered flight is even possible..something many take for granted! Now, people get pissed if their flight through a soupy mess is delayed by 20 minutes..hard to believe! Furthermore, one the biggest reasons I love aviation is because it is a discipline where you "can never learn it all"..There is always another lesson, another challenge, another skill to be mastered. I am fully convinced that being a lifelong part of this type of learning situation keeps the mind young..How many 75-85 years old guys do you see at the airport, with sharp minds living life to the fullest?? Thousands! ....I'll bet anybody $50. that the incidence of Alzheimer's among older pilots is lower than the general population.
Therefore, I have concluded that as long as I am not living in a dumpster behind Wal-Mart, I will continue to find some way to afford aviation..the friends I have made, the experiences I had had, my own sense of mental health and self-worth, and the quality of my overall life demand that I continue...And I will. Price of Gas be damned.
Chad..Here is a somewhat "philosophical" answer to your question "do I want to afford it" and the statement that gas at some point "Has to be too much"..Well, I'm not so sure.... It may be a cliche, but flying is not only a hobby..it's a way of life. For every hour in the air, there are many hours at the airport meeting friends, telling stories..and the sense that we are all part of something greater than ourselves. As a student of history, I am humbled by the thought that I am lucky enough to live in a time when powered flight is even possible..something many take for granted! Now, people get pissed if their flight through a soupy mess is delayed by 20 minutes..hard to believe! Furthermore, one the biggest reasons I love aviation is because it is a discipline where you "can never learn it all"..There is always another lesson, another challenge, another skill to be mastered. I am fully convinced that being a lifelong part of this type of learning situation keeps the mind young..How many 75-85 years old guys do you see at the airport, with sharp minds living life to the fullest?? Thousands! ....I'll bet anybody $50. that the incidence of Alzheimer's among older pilots is lower than the general population.
Therefore, I have concluded that as long as I am not living in a dumpster behind Wal-Mart, I will continue to find some way to afford aviation..the friends I have made, the experiences I had had, my own sense of mental health and self-worth, and the quality of my overall life demand that I continue...And I will. Price of Gas be damned.
Ok, I guess I'm in an argumentative mood. Not my intent to p*ss anyone off, but I have to respectfully offer a different point of view. Don't get me wrong, i'm an aviation nut too (I build an RV after all), but I do find it strange how some aviation folks seem to think that our particular hobby has god's stamp of approval as fundamentally better than all others. I find it a bit elitist.
Most people who are passionate about their hobby would say the same thing.
Like any hobby, however, we don't NEED to fly to survive. We don't NEED to do it to feed our families (those who fly for a living obviously notwithstanding). And, like any other hobby there is, or should be, a limit.
Most people who are passionate about their hobby would say the same thing.
Almost all hobbies have a similar social element.
This is true of almost everything in any area of interest.
Like any hobby, however, we don't NEED to fly to survive. We don't NEED to do it to feed our families (those who fly for a living obviously notwithstanding). And, like any other hobby there is, or should be, a limit.
LOL, I don't know if that was a serious comment (you actually think flying is the only hobby that provides mental stimulation? And you think it wards off Alzheimer's??), but I would definately take that bet!
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cjensen
Well Known Member
cjensen
Well Known Member
Good...
Debt stresses the living daylights out of me. I do have a mortgage, and I hate it. I do have student loans, and a couple credit cards to payoff (they're closed, and cut up, debit card only for two years now!), and those stress the living daylights out of me. We're sort of getting off topic here, but that's it in a nutshell as far as how I feel about debt.
well I should perhaps acknowledge that I am able to not be stressed about debt because i don't have that much of it. My equity in my house is at least double what i owe on the mortgage. If I sold the hangar I would erase my line of credit instantly (I owe nothing for the plane above that), and my car loan has a very low interest rate and will be paid off in 6 months. No ongoing credit card balance or student loans. I also have great job security working for the federal government. I imagine debt would stress me out if I had a lot more of it... so like all things I think debt is ok - in moderation (kind of like beer!).
cjensen
Well Known Member
Well now we're back in agreement! LOL!!
We don't have a mountain of debt, and the shovel is pretty good, but I'd still rather do without...
I was hoping to fly this evening to alleviate some of the stress...but rain is coming, and the winds are picking up...dang it.
bkc3921
Well Known Member
Wow, Phil
Phil..I never mentioned God..and I'm not an elitist..and never said that aviation people were "better" than anyone..and I never said that aviation was the only hobby that provided mental stimulation. Those are all things you chose to read into the post..I am simply trying to state that aviation is great exercise for the mind..and I do believe that keeping an active mental and physical life is important to overall wellness....including the prevention of many diseases... ....Also, I believe that aviation has a certain "romance" not provided by many other interests,which is my personal view...that makes me passionate..not elitist. In short, I could not disagree more with your reply to my post.....Thanks for your "different point of view"..but I like mine better.
Phil..I never mentioned God..and I'm not an elitist..and never said that aviation people were "better" than anyone..and I never said that aviation was the only hobby that provided mental stimulation. Those are all things you chose to read into the post..I am simply trying to state that aviation is great exercise for the mind..and I do believe that keeping an active mental and physical life is important to overall wellness....including the prevention of many diseases... ....Also, I believe that aviation has a certain "romance" not provided by many other interests,which is my personal view...that makes me passionate..not elitist. In short, I could not disagree more with your reply to my post.....Thanks for your "different point of view"..but I like mine better.
Sorry Brian, i shouldn't have picked-on your post in particular. My apologies. I know you didn't say that aviation folks were better, and nobody has every said this to be in so-many words, but having been among pilots for a long time there is this phenomenon I've sensed out there that (some) pilots do think that their status as a pilot is... well... elite. Not everyone, but it's out there. Top Gun (my favourite movie) of course probably contributed to this.
I agree there is romance in it.
I was using "god's stamp of approval" in a colloquial way... i'm actually agnostic.
If you maintain that there should be no financial limit to flying (or any other hobby), however, which was what I did get out of your post (the first two lines), then I respectfully, and whole-heartedly, disagree
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bkilby
Well Known Member
really care what gas costs, if i can get it i will continue to keep flying. period!!!!! end of story. time to blast off. see ya.
Ah Turbo! With a tagline like yours (live in Florida, Connecticut, and the Virgin Islands) and can still pay for fuel! Bless you!
Mile High Relic
Well Known Member
Sorry to add to the thread drift, but be careful here. "Long term" returns for the last 10-12 years frankly suck. The 10 year on the Dow and Nasdaq are roughly 15% total (~1%/yr) and the S&P is essentially flat. Move that to 9 years and it looks better, but still not great, and if you move it to 11 years it looks a lot worse. The 11 year return, 1/1/2000 to now, is negative on both the S&P and Nasdaq (IXIC ~30% down) and barely positive on the Dow.
Paying off your house is a very personal thing, but the point is that there is no guarantee you'll get better returns elsewhere. IMO, with multiples where they are today, we are almost guaranteed sub 5% stock market appreciation over the next decade.
I hope we see your "much better returns," but I doubt it.
java
Well Known Member
The way I look at it, while I'm on my deathbed, will I think to myself, "I really wish I wouldn't have spent that money on flying." So long as I feel I will be at peace with my decisions, I'll keep flying. That may (and has) required adaptations along the way.
This is a very personal decision, due both to differing earning opportunities and desires. There is no right or wrong answer. It is up to each of us.
This is a very personal decision, due both to differing earning opportunities and desires. There is no right or wrong answer. It is up to each of us.
Life is about choices. Aviation and flying have always been my passion. We are
so fortunate that we have the Van's series of aircraft that actually make
this hobby affordable for most. I frequently consider a minimalistic approach
to this hobby (like a late 60's C-150 or a 140 tied down outside). But my RV-8A
is fast and economical and allows me to spend weekends in Yellowstone if
I choose. Nothing but an RV can match this performance and affordability.
So if you have the means, don't fret it. If you don't, work on your choices.
My fixed costs are 8K/yr (hangar, insurance, property taxes) before turning
a prop. For now I can afford it, but don't believe for a second I would not make
a different choice if life demanded it. Maybe the first step would be a RV-12
parked in my garage at home. But for now I'm trying to figure out how
many weekends I can spend in Yellowstone this summer!
so fortunate that we have the Van's series of aircraft that actually make
this hobby affordable for most. I frequently consider a minimalistic approach
to this hobby (like a late 60's C-150 or a 140 tied down outside). But my RV-8A
is fast and economical and allows me to spend weekends in Yellowstone if
I choose. Nothing but an RV can match this performance and affordability.
So if you have the means, don't fret it. If you don't, work on your choices.
My fixed costs are 8K/yr (hangar, insurance, property taxes) before turning
a prop. For now I can afford it, but don't believe for a second I would not make
a different choice if life demanded it. Maybe the first step would be a RV-12
parked in my garage at home. But for now I'm trying to figure out how
many weekends I can spend in Yellowstone this summer!
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panhandler1956
Well Known Member
Amen to that!
I refuse to save money my whole life to then try to enjoy it when I'm too old (or worse) to enjoy it. I am putting money back, but I'm not compromising on my dreams to do it.
Amen, amen!
Everybody is different, and a lot depends on where you are in life.
I'm 55. On the paternal side, my great-grandfather, grandfather, and father all had their first heart attack before 55; two died. Maybe I'll have better luck. On mom's side everybody lives to be 90....but maybe I should hedge and have some fun now.
There was a long stretch when I didn't fly. No good rental airplanes in the neighborhood and I was doing the responsibility thing; new house, new baby, new business. Not one but two mortgages, house and commercial property, both short term, both paid out early. I understand when I hear a younger man ask about priorities.
My little girl graduates from Auburn on May 10th, my business has weathered the recent storms, and I have a new airplane. Perhaps I'll live a long time and regret a few years of playing the grasshopper, but friends, I've been an ant long enough.
RV7Guy
Well Known Member
Interesting
I've read all the posts. Chad is one of my early friends from the RV World. He's a young guy. After taking nearly 5 years to get him talked out of some sort of alternative engine, he finally came around I'm very proud of him for being so fiscally aware at his age.
The Dave Ramsey plan absolutely works. It can be structured to meet your needs. In his most aggressive form, "Gazelle speed," virtually every nonessential expense is eliminated to get debt paid down. From there, cooperative compromise can get the job done but allow other activities such as flying.
As this economy continues to tank, debt reduction is the only sure thing. For me, I was in public safety for 30 years and now fly medical helicopters. I've been able to do quite well on a livable but not extensive income. This was done by being conservative and avoiding all unnecessary debt.
Now, I have a mortgage which I'm actively buying down. I have a car loan that I took on a 4 year note to get all the rebates. (Also used the EAA X plan) If I pay the loan off within 30 months, I cheat the bank our of $2400. I'm 16 months in and will be paid off before Oshkosh.
Everybody can do it with discipline and dedication.
I've read all the posts. Chad is one of my early friends from the RV World. He's a young guy. After taking nearly 5 years to get him talked out of some sort of alternative engine, he finally came around
I'm very proud of him for being so fiscally aware at his age. The Dave Ramsey plan absolutely works. It can be structured to meet your needs. In his most aggressive form, "Gazelle speed," virtually every nonessential expense is eliminated to get debt paid down. From there, cooperative compromise can get the job done but allow other activities such as flying.
As this economy continues to tank, debt reduction is the only sure thing. For me, I was in public safety for 30 years and now fly medical helicopters. I've been able to do quite well on a livable but not extensive income. This was done by being conservative and avoiding all unnecessary debt.
Now, I have a mortgage which I'm actively buying down. I have a car loan that I took on a 4 year note to get all the rebates. (Also used the EAA X plan) If I pay the loan off within 30 months, I cheat the bank our of $2400. I'm 16 months in and will be paid off before Oshkosh.
Everybody can do it with discipline and dedication.
panhandler1956
Well Known Member
That's awesome! And the best part is you kept your airplane.
Dave Cole
Well Known Member
Well said
My dad died of a heart attack at age 55, when I was 29 years old. Since that day, I have lived my life with one eye on the present and one on the future. I'm 61 now, but I never forgot the bitter lesson that your future may never happen. In my life, I have made financial plans for the future, but I have always been preferential to the present.
My dad died of a heart attack at age 55, when I was 29 years old. Since that day, I have lived my life with one eye on the present and one on the future. I'm 61 now, but I never forgot the bitter lesson that your future may never happen. In my life, I have made financial plans for the future, but I have always been preferential to the present.
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