wabower
Touchdown! Greaser!
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Wayne
How much $ do you make per year as an individual?
- Thread starter MSPAviator
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wabower
Touchdown! Greaser!
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Wayne
Late sixties were good. Early 60's were still working at the accounting/consulting firm learning the trade and paying the dues.
If you were making $50K per year in the early to mid 60's, you certainly could have bought and maintained a pretty nice airplane!
gismo
Touchdown! Greaser!
I tried to make some money last week but the copier got jammed.
MSPAviator
Cleared for Takeoff
James_Dean
Pattern Altitude
Generally if you own part of an LLC or LLP, profit flows right to your personal income. Those type entities don't pay income tax and avoid the double taxation that a traditional corporate structure demands. I would guess this scenario is applicable for a majority of the 1%'ers.
Tony_Scarpelli
Pattern Altitude
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Tony_Scarpelli
When my income was in groups 7 and 8, my mad/fun/aviation budget used to be higher than the first and second groups well into third group. Those were good years, I hope they return.
These years, I am living on equity and net income might not be much higher than my highest aviation budgets in the past.
(excluding poor working pilots) I agree you can be a renter pilot and fly in the very top of group 1 if you live at home, group 2 if you are thrifty but you probably likely be at least in the middle of the third group or higher or have a wife that is an asset rather than a liability to be an airplane owner.
There are exceptions. You can probably be in club or partnership or have a leaseback situation in the top of Group 1 or 2.
These years, I am living on equity and net income might not be much higher than my highest aviation budgets in the past.
(excluding poor working pilots) I agree you can be a renter pilot and fly in the very top of group 1 if you live at home, group 2 if you are thrifty but you probably likely be at least in the middle of the third group or higher or have a wife that is an asset rather than a liability to be an airplane owner.
There are exceptions. You can probably be in club or partnership or have a leaseback situation in the top of Group 1 or 2.
supernovae
Line Up and Wait
So far over 50% are 6 figure earners.. Interesting numbers. As stated before, almost double the national / median average.
schmookeeg
En-Route
I'm not terribly surprised. Don'tcha think the distribution would be similar for other high-cost hobbies? like, RV Owners, Boat Owners, etc?
I bet something like "Lexus Owners" would be a similar curve too.
Maybe I'm just jaded by the company I keep
supernovae
Line Up and Wait
I'm not terribly surprised. Don'tcha think the distribution would be similar for other high-cost hobbies? like, RV Owners, Boat Owners, etc?
I bet something like "Lexus Owners" would be a similar curve too.
Maybe I'm just jaded by the company I keep
I think RV and Boats are lot more accessible than airplanes.. and even though I love Aircraft, I wouldn't waste a dime on a Lexus
I've been in the "how to make GA more affordable thread" a lot lately hehe
schmookeeg
En-Route
I suppose... but I've seen some seriously Nimitz-class RVs heading out to the dunes... I suspect some of these marble and US-Flag encrusted battlewagons cost multiples of my home value. I'm left wondering if I could trade one of them for a king air in this market.
supernovae
Line Up and Wait
This is true.. i'm guessing they ditched their depreciating & upside down homes and just chose to get out of dodge
Dean
Pattern Altitude
Flying is affordable on just about any budget, it's just what are you will to give up to be able to fly?
wsuffa
Touchdown! Greaser!
Don't forget the flip side: where you live drives cost of living. $100,000 in rural America might end up with about the same take-home as $300,000 in DC, NY, etc.
Consider DC area where hangars might be $400 a month, it takes 45 minutes to get to an airport with a hangar, 30+ minute commutes to work with $15/day parking (or $12 subway rides w/parking at station) etc, etc. And $400K-$600K houses in middle-class neighborhoods.
Consider DC area where hangars might be $400 a month, it takes 45 minutes to get to an airport with a hangar, 30+ minute commutes to work with $15/day parking (or $12 subway rides w/parking at station) etc, etc. And $400K-$600K houses in middle-class neighborhoods.
Tony_Scarpelli
Pattern Altitude
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Tony_Scarpelli
Ditto with most car guys! 1998-2006 was a very good time to be in the car business!!2008-2010, not so much.
I was just due for car rotation when this economic chaos hit....now I am past due so you have some pent up demand that will likely explode this year.
I wish I were in the car business this year and next year.
flav8r
Line Up and Wait
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David
Well at least it's nice to know that I'm with the majority of the pollsters on income.
I just wish I didn't have to give up boating to support my flying habit even though I get much more boat for the same amount of flying money.
I also drive a 2002 Chevy so that I can avoid the dreaded car payments all in an effort to support my flying addiction.
I just wish I didn't have to give up boating to support my flying habit even though I get much more boat for the same amount of flying money.
I also drive a 2002 Chevy so that I can avoid the dreaded car payments all in an effort to support my flying addiction.