And Supplementing Your Income Along the Way
Given the turbulence of 2020, the airline industry has a challenging flight path ahead. If you’re an airline pilot, you may be interested in earning supplemental income to help ensure a smooth ride toward financial independence. You may be looking for a partner to help you plan for your financial future. Aviation Financial Freedom can help.
Airline pilots face unique challenges – professionally, personally and financially. Spending so much time in the air means that your time at home with your loved ones is precious. You don’t want to spend it trying to manage your finances and investments. Yet, your profession presents you with unique financial challenges that you must be prepared to navigate.
At Aviation Financial Freedom, we understand. We partner with pilots to create customized financial plans to help them arrive at their personal financial destination. We believe everyone can benefit from having a financial plan in place, not just the wealthy. But implementing and adhering to a financial plan is especially vital for aviation professionals for several reasons.
1. An Unpredictable Industry
The airline industry is known for being volatile. Bankruptcies, bailouts, mergers and acquisitions have become commonplace, and external factors such as the COVID-19 pandemic and the 9/11 terrorist attacks can be devastating to airlines and their employees.
The career uncertainty faced by aviation professionals means that proactive saving, smart investing and detailed retirement planning are vital for achieving financial independence. The best way to accomplish these goals is with a financial plan. (A little supplemental income never hurts, either.)
2. Mandatory Retirement
With a mandatory retirement age of 65, there are no missed approaches or go-arounds in retirement planning. Having a financial plan in place can help you strategically save and invest for retirement
3. Expectations
Airline pilots are known to have high salaries and often face pressure from co-workers, family members and friends to showcase a certain lifestyle. Trying to live up to these expectations can take a toll on your long-term financial security. A solid financial plan can help you live comfortably within your means while remaining focused on the future.
4. An Unexpected Medical Condition
If, during your airman medication certificate renewal, you are diagnosed with a disqualifying medical condition, you may be at risk for losing your job. A financial plan can help you be prepared for an unexpected event such as a disqualifying health condition.
Having a plan is essential to building, understanding and achieving your goals. Planning can help increase your level of confidence and comfort, result in more constructive financial behavior, and help ensure your family will be provided for in unexpected circumstances. Ultimately, a good financial plan puts you in control of your future.
Starting a financial plan may seem like chore, but it doesn’t have to be. If you find you’re having a hard time taking the first step, a fiduciary advisor can help.
Aviation Financial Freedom is a specialty practice of Creative Planning, one of the largest independent wealth management firms in the country. Each of our dedicated teams specializes in working with pilots and flight crews and includes an attorney, a CPA and a CERTIFIED FINANCIAL PLANNER™ practitioner. These experienced professionals work with clients to develop personalized financial plans that take into consideration a wide range of factors, including their current financial situation, goals for the future and any challenges they may face.
We have extensive experience helping pilots navigate the unique challenges and turbulence of their financial lives, but we can’t do it alone…
Partner With Us
We are seeking to partner with experienced pilots who will join our strategically selected group to assist us in expanding our base of aviation clients. We offer you a referral fee and an opportunity to help your fellow pilots achieve financial freedom by working with a nationally recognized wealth management firm.
In these uncertain times, who wouldn’t welcome a supplemental source of income? Learn more about how you can help your fellow pilots achieve financial freedom while earning extra income.
