Investing 101 For Pilots!

The Wealthy Pilot's Podcast: Financial Flight Controls for Today's Commercial Airline Pilots

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Treść dostarczona przez Scott Osborn. Cała zawartość podcastów, w tym odcinki, grafika i opisy podcastów, jest przesyłana i udostępniana bezpośrednio przez Scott Osborn lub jego partnera na platformie podcastów. Jeśli uważasz, że ktoś wykorzystuje Twoje dzieło chronione prawem autorskim bez Twojej zgody, możesz postępować zgodnie z procedurą opisaną tutaj https://pl.player.fm/legal.

On the Bus with Troy Vollhoffer

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From Backroom Bars to Broadway with Dustin Lynch 36:27

16 dni temu36:27

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36:27

Not many artists actually hail from Tennessee, but the scenic valleys and rolling hills of The Volunteer State are part of Dustin Lynch’s DNA. In this episode of On the Bus, Country Thunder CEO Troy Vollhoffer sits down with Dustin to discuss his journey from playing fraternity parties and weddings across the southeast to being the first country artist with a club residency at the Wynn in Las Vegas. Plus, stick around for our new segment, Thunder Strike, where Troy features upcoming festival performer Riley Green’s hit song “Damn Good Day to Leave” to give you a taste of what’s to come at Country Thunder in 2025.…

rok temu 13:12

MP3•Źródło odcinka

This week on The Wealthy Pilots Podcast, we're diving into one of the key components of a solid financial strategy: investing. We'll be discussing the unique challenges and opportunities pilots face when it comes to managing their investments and more with Scott Osborn, the Pilot’s Planner.
Here’s some of what we discuss in this episode:

0:00 – Intro

0:40 – DIY planning vs working with an advisor

6:20 – Self-directed brokerage accounts

10:00 – Main tenets of a good investment plan
Resources:

Schedule A Call with Scott: http://callosborn.com/
Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii
The Pilot's Planner Website: https://thepilotsplanner.com/
Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner

34 odcinków

#Trading #Careers #Business #Scott Osborn #Pilot #Retirement #Pilot's Planner #Financial Planning

Investing 101 For Pilots!

The Wealthy Pilot's Podcast: Financial Flight Controls for Today's Commercial Airline Pilots

published rok temu

Udostępnij

MP3•Źródło odcinka

0:00 – Intro

0:40 – DIY planning vs working with an advisor

6:20 – Self-directed brokerage accounts

34 odcinków

#Trading #Careers #Business #Scott Osborn #Pilot #Retirement #Pilot's Planner #Financial Planning

Wszystkie odcinki

1
Liberation Day: Is 2025 A Bad Time To Retire? 14:26

2 dni temu14:26

14:26

Plenty of people have concerns about stock market volatility, a potential recession on the horizon, and fears for the economy amidst federal layoffs and tariffs. What if you’ve had 2025 marked on the calendar for a while as the year you plan to retire? Is this a bad time to do it? Here’s some of what we discuss in this episode: 0:00 – Intro 2:08 – Headline response to market 3:49 – Sequence of returns risk 6:19 – Different market sectors 8:07 – The tendency to chase performance 9:36 – Investor sentiment and diversification Resources: Schedule A Call with Scott: http://callosborn.com/ Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii The Pilot's Planner Website: https://thepilotsplanner.com/ Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner…

1
Infinite Banking: The Smarter Way to Build Wealth 52:49

16 dni temu52:49

52:49

What if you could become your own banker and take control of the way you finance your life? Today we’re excited to welcome on Brian Moody and Hans Tooey of Remnant Finance to explore the Infinite Banking Concept- a financial strategy designed to help you protect, save, and grow your wealth without relying on traditional banks. Here’s some of what we discuss in this episode: 0:00 – Intro 1:00 – Background on our guests 4:50 – The Infinite Banking concept 13:25 – Flipping financing 22:03 – Controlling the banking function 25:07 – Different types of insurance policies 36:05 – Case study 40:08 – How value accrues 47:30 – Final thoughts Resources for this episode: Learn more about Remnant Finance: https://remnantfinance.com/ Resources: Schedule A Call with Scott: http://callosborn.com/ Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii The Pilot's Planner Website: https://thepilotsplanner.com/ Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner…

1
How Side Gigs Impact Your Retirement Portfolio 11:24

23 dni temu11:24

11:24

Thinking about starting a side gig? Many pilots explore side hustles like real estate or passion projects, but how do these extra income streams impact retirement planning? Are there tax advantages you should be taking advantage of? And how can you ensure your side hustle is working for you, not creating extra stress? In this episode, Scott breaks down the impact of side gigs on your long-term financial plan. We’ll discuss the most common side hustles for pilots, the tax benefits of structuring them properly, and why having multiple income streams can be a game changer for your financial security. Here’s some of what we discuss in this episode: 0:00 – Intro 2:11 – Real estate as a side gig 3:13 – Consulting and passion projects 5:01 – Tax efficiency and diversification of income 9:02 – Final thoughts on side gigs Resources: Schedule A Call with Scott: http://callosborn.com/ Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii The Pilot's Planner Website: https://thepilotsplanner.com/ Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner…

1
Do Smart Investors Need a Financial Advisor? 13:43

4 weeks temu13:43

13:43

If you’ve spent years successfully managing your own investments, do you really need a financial advisor? Scott works with a lot of highly skilled, intelligent professionals. So, for someone like this, is working with an advisor just an extra expense, or could it actually add real value? In this episode, we break down when and why even experienced investors might benefit from professional guidance and when they’re probably fine on their own. Here’s some of what we discuss in this episode: 0:00 – Intro 1:21 – Defining what an advisor is 4:11 – Behavioral biases in investing 5:38 – Do you have the time? 7:22 – What are you focused on? 10:56 – Finding the best fit for you Resources for this episode: https://www.businessinsider.com/forgetful-investors-performed-best-2014-9 Vanguard Article: https://corporate.vanguard.com/content/corporatesite/us/en/corp/articles/quantifying-evolution-advice-and-value-investors.html Resources: Schedule A Call with Scott: http://callosborn.com/ Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii The Pilot's Planner Website: https://thepilotsplanner.com/ Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner…

1
What Do Proposed Tariffs Mean For Your Portfolio? 10:19

5 weeks temu10:19

10:19

The day President Trump took office, he announced plans to implement a 25 percent tariff on goods from Mexico and Canada. Additional tariff conversations have exploded since that day. How might this impact your personal finances and the economy? In this episode, we’ll take a closer look at the backstory of tariffs - what they are, why governments impose them, and the historical context of them. We’ll also break down the new tariffs that have been introduced, their potential impact on everyday people, and what you can do to navigate this shifting financial landscape. Here’s some of what we discuss in this episode: 0:00 – Intro 1:25 – Tariff impacts on consumers and companies 3:41 – Tariffs as a tool for fair trade + market reactions 5:55 – Keeping a long-term perspective Resources for this episode: https://wolfstreet.com/2025/02/03/what-trumps-tariffs-did-last-time-2018-2019-had-no-impact-on-inflation-doubled-receipts-from-customs-duties-and-hit-stocks/ Resources: Schedule A Call with Scott: http://callosborn.com/ Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii The Pilot's Planner Website: https://thepilotsplanner.com/ Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner…

1
Money Questions Every Couple Needs To Discuss 14:15

6 weeks temu14:15

14:15

Valentine’s season is all about love, but let’s be honest, money plays a huge role in any relationship. Whether you’ve been together for decades or are just starting out, financial stress can put a strain on even the strongest partnerships. So, how do you talk about money without killing the romance? In today’s episode, we’re looking at the questions every couple should ask about finances and retirement. Here’s some of what we discuss in this episode: 0:00 – Intro 1:25 – Keeping financial peace between couples 3:57 – Balancing family support without compromising retirement 6:53 – Do separate finances complicate things? 8:41 – The importance of communication 10:39 – Starting the estate planning conversation Resources: Schedule A Call with Scott: http://callosborn.com/ Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii The Pilot's Planner Website: https://thepilotsplanner.com/ Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner…

1
Need Cash Fast? The Best (and Worst) Ways for Pilots to Borrow Money 9:10

8 weeks temu9:10

9:10

Whether it's for a home remodel, a major purchase, or just to cover unexpected expenses, where should you turn for cash when you need it? In today’s episode, Scott breaks down the three primary avenues for obtaining cash: 401(k) loans, Home Equity Lines of Credit (HELOCs), and personal loans. We’ll explore the pros and cons of each option and what pilots should keep in mind before borrowing. As always, be sure to consult a qualified professional for guidance on your specific situation. With the right knowledge and planning, you can navigate big financial moves with confidence! Here’s some of what we discuss in this episode: 0:00 – Intro 0:32 – Pulling money from 401(k) 3:03 – Borrowing money from HELOC 6:27 – Balancing borrowing and spending 7:20 – Personal loans Resources: Schedule A Call with Scott: http://callosborn.com/ Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii The Pilot's Planner Website: https://thepilotsplanner.com/ Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner…

1
Should You Own Airline Stock? 12:51

9 weeks temu12:51

12:51

Should you own airline stock? With the airline industry experiencing a rollercoaster of performance this past year alone, it’s an interesting question to discuss. In this week’s episode, Scott and Marc explore the complexities of investing in airline stocks and how emotional biases can influence investment decisions. Here’s some of what we discuss in this episode: 0:00 – Intro 2:24 – Company bias and emotional investing 6:47 – Diversification and long-term investing 10:01 – Final thoughts United Airlines' Holdings https://www.barrons.com/market-data/stocks/ual/research-ratings Resources: Schedule A Call with Scott: http://callosborn.com/ Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii The Pilot's Planner Website: https://thepilotsplanner.com/ Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner…

1
What Pilots Should Do With Their Profit-Sharing Bonus 10:39

10 weeks temu10:39

10:39

Delta’s record-breaking $1.4 billion profit-sharing payout for 2024 has employees buzzing, with many set to receive an average of five weeks’ pay as their share. If you’re a pilot benefiting from this bonus, what’s the best way to put it to good use? Join Scott and Marc as they explore how to strike the right balance between celebration and strategic financial planning. From bolstering emergency funds to maxing out 401(k) contributions early in the year, they share practical steps to make the most of your windfall. Here’s some of what we discuss in this episode: 0:00 – Intro 1:40 – Delta’s record profits 3:24 – What to do with it? 7:57 – Final takeaways Delta Profit Sharing Article: https://news.delta.com/delta-employees-receive-average-five-weeks-pay-annual-profit-sharing Resources: Schedule A Call with Scott: http://callosborn.com/ Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii The Pilot's Planner Website: https://thepilotsplanner.com/ Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner…

1
Fiduciary Failure? Lessons From the American Airlines ESG Lawsuit 9:32

11 weeks temu9:32

9:32

In this episode, Scott and Marc chat about a recent lawsuit filed by an American Airlines pilot, which challenged the integration of ESG criteria into the company’s 401k plans. This opens up a wider discussion about the importance of transparency and fiduciary responsibility in retirement planning. Listen in as Scott explains the difference between fiduciary and suitability standards and why understanding this could help you make more informed investment choices. Tune in for practical insights on how to get the most out of your 401(k) plan, whether you're a pilot or not! Here’s some of what we discuss in this episode: 0:00 – Intro 0:39 – Overview of ESG 2:26 – Fiduciary duty vs suitability standards 3:38 – American Airlines lawsuit 5:52 – Understanding and optimizing your 401(k) plan Lawsuit Article https://finance.yahoo.com/news/american-airlines-focus-esg-401-183725452.html Resources: Schedule A Call with Scott: http://callosborn.com/ Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii The Pilot's Planner Website: https://thepilotsplanner.com/ Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner…

1
Additional Places to Save Beyond Your 401(k) in 2025 12:58

12 weeks temu12:58

12:58

We’ve all heard about the importance of contributing to a 401(k) for retirement. But is it really enough on its own? For some, maybe it is, but it’s always wise to explore other options and keep an open mind. In this episode, Scott dives into a range of strategies that could help you build wealth for retirement, from Roth IRAs and the "backdoor" Roth to life insurance, real estate investments, and tax loss harvesting. Here’s some of what we discuss in this episode: 0:00 – Intro 1:05 – Figuring out how much you need to save 2:45 – Backdoor Roth 5:34 – Life insurance and real estate 8:39 – Tax loss harvesting 11:02 – Closing thoughts Resources: Schedule A Call with Scott: http://callosborn.com/ Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii The Pilot's Planner Website: https://thepilotsplanner.com/ Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner…

1
Where Pilots Should Contribute Their Earnings In 2025 11:34

13 weeks temu11:34

11:34

In this episode of the Wealthy Pilots Podcast, Scott Osborn breaks down where to contribute your money in 2025. Learn why diversifying your savings across Roth, tax-deferred, and taxable accounts can help you retire with more flexibility and fewer tax headaches. Discover simple tweaks that can make a big difference for your future—whether you’re just starting or already maxing out your 401(k). Here’s what you’ll learn on this episode: •The importance of diversifying retirement savings across different tax buckets (Roth, tax-deferred, taxable) to mitigate future tax rate increases •The benefits of contributing to a Roth 401(k) vs a traditional pre-tax 401(k) •The concept of in-plan Roth conversions and how they can be used to strategically build tax-free retirement savings Episode chapters: 0:00 – Intro 0:46 – Happy New Year 1:20 – Healthy Financial Habits 3:40 – Different Buckets of Money 4:50 – Why Roths Are Worth Investigating 6:45 – Roth 401(k)s & In-Plan Conversions 8:45 – Balancing Your Tax Burden 9:40 – A Regret You Don’t Hear Resources: Schedule A Call with Scott: http://callosborn.com/ Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii The Pilot's Planner Website: https://thepilotsplanner.com/ Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner…

1
United Airlines Pilots Reject Their 2024 Contract? 10:20

14 weeks temu10:20

10:20

In this episode of The Wealthy Pilot's Podcast, we discuss recent developments in market-based cash balance plans within the airline industry, focusing on United Airlines pilots’ rejection of their proposed 2024 contract. Scott and Marc break down how these unique retirement plans work and why pilots are concerned about their long-term financial benefits. They also explore the trade-offs between opting into market-based cash balance plans versus taking the money upfront and investing it independently. Tune in for valuable insights into these plans and what pilots should consider when deciding on their retirement strategies. Here’s some of what we discuss in this episode: 0:00 – Intro 0:53 – How the plans work 4:09 – What drove United’s choice? 5:41 – Taking control of our finances 8:19 – Looking ahead Resources: Schedule A Call with Scott: http://callosborn.com/ Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii The Pilot's Planner Website: https://thepilotsplanner.com/ Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner…

1
What Fed Rate Cuts Could Mean for Your Finances in 2025 11:54

15 weeks temu11:54

11:54

In this episode of The Wealthy Pilot's Podcast, Scott and Marc break down the latest Federal Reserve rate cuts and explore what they mean for the economy, businesses, and financial planning. With interest rates on the decline, they discuss how this could impact mortgage affordability in 2025 and why large companies are likely to make more aggressive investments. They also dive into the potential opportunities these rate cuts present for investors. Throughout the conversation, Scott and Marc talk about the importance of diversification, tax strategies, and proactive financial planning in navigating this shifting economic landscape. Tune in to understand how these changes might affect your finances and how proactive planning can help you make the most of these shifts as we head into 2025! Here’s some of what we discuss in this episode: 0:00 – Intro 1:06 – Scott’s thoughts on Fed rate cuts 3:20 – The importance of diversification in portfolios 5:54 – Fed rate cut’s anticipated impact 6:36 – Looking at inflation 9:00 – Staying focused on the big picture Resources: Schedule A Call with Scott: http://callosborn.com/ Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii The Pilot's Planner Website: https://thepilotsplanner.com/ Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner…

1
End of Year Financial Planning for Airline Pilots 18:19

16 weeks temu18:19

18:19

As the year draws to a close, it's the perfect time to take a step back and review your financial planning. In this episode, Scott discusses important year-end strategies to help you optimize your finances before December 31. He covers key topics like Roth conversions, tax loss harvesting, HSA contributions, and other essential tasks that could make a big impact on your financial situation. Plus, Scott offers a look ahead to 2025, with insights into changes in tax brackets, contribution limits, and how strategic adjustments today can set you up for a more secure financial future. Tune in for some great insights before the year wraps up! Here’s some of what we discuss in this episode: 0:00 – Intro 1:40 – When you need to get contributions in 3:54 – Tax loss harvesting 6:20 – Considerations for business owners 8:21 – Contribution limits 10:11 – HSAs 13:51 – Federal tax brackets 15:50 – The power of small adjustments Resources: Schedule A Call with Scott: http://callosborn.com/ Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii The Pilot's Planner Website: https://thepilotsplanner.com/ Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner…

The Wealthy Pilot's Podcast: Financial Flight Controls for Today's Commercial Airline Pilots

1
Protecting Your Finances During Airline Turmoil 10:38

17 weeks temu10:38

10:38

In this episode of The Wealthy Pilots Podcast , Marc and Scott dive into the current state of the airline industry and chat about both the challenges and successes some airlines are facing. From record travel numbers to struggling airlines like JetBlue and Spirit, they discuss how rising fuel costs and labor issues are affecting profitability. With larger airlines doing well, smaller regional carriers are left to fight for better contracts and compensation. Whether you’re dealing with furloughs or enjoying high earnings, Scott shares valuable insights on how to plan for both the good and the bad times ahead. Here’s some of what we discuss in this episode: 0:00 – Intro 1:00 – Contributing factors 3:01 – The trends of larger carriers vs smaller carriers 5:30 – You need a plan for if/when things go wrong 6:52 – An example of good planning Resources: Schedule A Call with Scott: http://callosborn.com/ Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii The Pilot's Planner Website: https://thepilotsplanner.com/ Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner…

The Wealthy Pilot's Podcast: Financial Flight Controls for Today's Commercial Airline Pilots

1
Got A Side-Hustle? Make Sure You Learn About BOIR E-Filing 12:23

19 weeks temu12:23

12:23

In Scott’s line of work, it’s common to see pilots who are juggling a side hustle or business. That’s why this week, we’re diving into the Beneficial Ownership Information Report (BOIR), part of the Corporate Transparency Act (CTA). What is it, why does it matter, and how does it impact pilots and their side hustles? Join us as Scott breaks down the penalties for non-compliance and what you need to do to ensure you’re squared away before the January 1 deadline. If you’re a pilot balancing a career in the cockpit with an LLC on the side, this episode is a must-listen! Here’s some of what we discuss in this episode: 0:00 – Intro 1:05 – Common side hustles among pilots 3:00 – Understanding the BOIR-E 6:46 – Getting your ducks in a row with the right team Resources for this episode: FinCEN.Gov https://fincen.gov/ Jason Watson’s FinCEN Blog Post https://wcginc.com/blog/fincen-beneficial-ownership-information/ Resources: Schedule A Call with Scott: http://callosborn.com/ Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii The Pilot's Planner Website: https://thepilotsplanner.com/ Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner…

The Wealthy Pilot's Podcast: Financial Flight Controls for Today's Commercial Airline Pilots

1
Post-Election Check In: Talking TCJA, DOGE, Tariffs & More 14:49

20 weeks temu14:49

14:49

Election season has finally come to a close and we’re turning our focus to the potential impacts on the economy and financial planning in the coming years. While many of the proposed changes are still in the early stages and subject to change, today’s episode dives into some of the major topics that could shape 2025 and beyond. From tax policy to corporate strategies, it’s time to start thinking ahead. Here’s some of what we discuss in this episode: 0:00 – Intro 0:38 – A Tax Cuts and Jobs Act extension? 4:06 – The corporate tax cut conversation 6:04 – Market reactions post-election 11:48 – Buy and hold with rebalancing Resources: Schedule A Call with Scott: http://callosborn.com/ Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii The Pilot's Planner Website: https://thepilotsplanner.com/ Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner…

The Wealthy Pilot's Podcast: Financial Flight Controls for Today's Commercial Airline Pilots

1
What Elections Mean For Taxes 14:21

21 weeks temu14:21

14:21

Election week 2024 is upon us, so today, we’re taking a close look at what political shifts could mean for taxes and your overall financial strategy. With the national debt skyrocketing to $36 trillion, the results of this election could significantly influence future tax policies. Join us as we explore the differing approaches to taxation from the two major political parties and how these changes might shape the economic landscape in the years ahead. Here’s some of what we discuss in this episode: 0:00 – Intro 2:16 – The tax implications of this election 6:07 – What both parties agree on 9:03 – Fiscal responsibility Resources: Schedule A Call with Scott: http://callosborn.com/ Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii The Pilot's Planner Website: https://thepilotsplanner.com/ Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner…

The Wealthy Pilot's Podcast: Financial Flight Controls for Today's Commercial Airline Pilots

1
Do Elections Really Impact Your Investments? 16:02

22 weeks temu16:02

16:02

Halloween isn't the only thing spooking people this week. With the election just days away, many investors are wondering how this season will impact their portfolios. So in today’s episode, we’re going to spend some time talking about the impact of political shifts on the stock market. Here’s some of what we discuss in this episode: 0:00 – Intro 3:39 – Not letting politics influence your investment decisions 6:53 – External factors that will impact the market 9:16 – Procrastinating investment decisions 12:35 – Building a retirement plan that works in any environment Resources: Schedule A Call with Scott: http://callosborn.com/ Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii The Pilot's Planner Website: https://thepilotsplanner.com/ Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner…

The Wealthy Pilot's Podcast: Financial Flight Controls for Today's Commercial Airline Pilots

1
Career Contingency Strategies for Pilots 14:03

23 weeks temu14:03

14:03

In the world of aviation, pilots are trained to handle unexpected challenges like turbulent weather or technical malfunctions. Yet, one area that often gets overlooked is planning for potential setbacks in their own careers. In today’s episode, we’re discussing strategies to help pilots stay prepared for unexpected career disruptions. Scott and Marc focus on two major areas of concern for pilots: furloughs and the loss of a Class 1 Medical Certificate. By dedicating just a short amount of time to think through these potential scenarios, you can ensure you’re prepared for any possibility. Here’s some of what we discuss in this episode: 0:00 – Intro 2:22 – Preparing for furloughs 5:32 – Having a proper emergency fund 9:10 – Losing Class 1 Medical Certification Resources: Schedule A Call with Scott: http://callosborn.com/ Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii The Pilot's Planner Website: https://thepilotsplanner.com/ Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner…

The Wealthy Pilot's Podcast: Financial Flight Controls for Today's Commercial Airline Pilots

1
Disability & Long-Term Care Planning for Pilots 11:12

24 weeks temu11:12

11:12

As we continue our discussion on contingency planning, today's focus shifts to disability and long-term care. Disability insurance is a vital component of a pilot's financial strategy. Given the unique nature of their profession, pilots face specific risks that can impact their ability to work. It’s important for them to ensure their income is adequately protected, especially in the event of unforeseen circumstances. Long-term care is another critical area that many overlook until they are nearing retirement. The costs associated with long-term care can be staggering, and without proper planning, they can quickly deplete one’s life savings. Join Marc and Scott as they explain why planning for both disability and long-term care now is so important. Here’s some of what we discuss in this episode: 0:00 – Intro 1:12 – Disability planning for pilots 5:29 – Long-term care considerations 9:45 – Getting it done + Final thoughts Resources: Schedule A Call with Scott: http://callosborn.com/ Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii The Pilot's Planner Website: https://thepilotsplanner.com/ Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner…

The Wealthy Pilot's Podcast: Financial Flight Controls for Today's Commercial Airline Pilots

1
Contingency Planning- Creating Your “When I Die” Plan 13:54

25 weeks temu13:54

13:54

Having both an “if I die young” and a “when I die” plan is something we all need. In this week’s episode of the Wealthy Pilots Podcast, Scott and Marc discuss an often avoided but essential topic: contingency planning. While it might not be the most enjoyable conversation, it's one that can’t be ignored. Tune in as we discuss the importance of having a comprehensive strategy in place, particularly for pilots and families with young children. From determining the right life insurance coverage to preparing a “when I die” binder, we’ll share tips to make things easier for your loved ones in case of an unexpected event. Don’t wait until it’s too late- take proactive steps today to ensure your family is cared for and equipped to handle the future, no matter what it might bring. Here’s some of what we discuss in this episode: 0:00 – Intro 1:30 – The “If I die young” plan 4:28 – Getting a plan in motion 6:52 – The “When I die” plan 9:58 – When you don’t have a plan Resources: Schedule A Call with Scott: http://callosborn.com/ Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii The Pilot's Planner Website: https://thepilotsplanner.com/ Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner…

The Wealthy Pilot's Podcast: Financial Flight Controls for Today's Commercial Airline Pilots

1
What Is Contingency Planning? (And Why It’s Important!) 12:45

26 weeks temu12:45

12:45

In life, not everything goes according to plan. Whether you're flying a plane or managing your finances, unexpected challenges can arise at any moment. That’s why it’s so important to have a plan for when things go wrong. In today’s episode, we’re talking about contingency planning- what it is and why it’s important for your financial life. We'll explore how being prepared for the unexpected can help you maintain control and confidence in your financial decisions. If things take an unexpected turn, will you be ready? Here’s some of what we discuss in this episode: 0:00 – Intro 0:47 – What is contingency planning? 2:50 – The importance of contingency planning 7:42 – Your family is counting on you Resources: Schedule A Call with Scott: http://callosborn.com/ Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii The Pilot's Planner Website: https://thepilotsplanner.com/ Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner…

The Wealthy Pilot's Podcast: Financial Flight Controls for Today's Commercial Airline Pilots

1
Tax Prep Vs Tax Planning: What’s The Difference? 11:25

27 weeks temu11:25

11:25

Most of us think about taxes once a year, around April 15th. We gather our documents, either to do it ourselves or hand them over to a CPA. This is tax preparation- looking back at the past year, compiling necessary forms, and filing your taxes. Tax planning, on the other hand, is a proactive strategy. It involves looking ahead and making decisions that will minimize your tax liability in the future. Join Scott and Marc as they discuss how effective tax planning can create significant financial advantages for high-earning pilots. Here’s some of what we discuss in this episode: 0:00 – Intro 2:09 – How CPAs relate to tax planning 4:59 – It’s not what you make, it’s what you keep 7:36 – Why a team approach is crucial Retirement Planning Tax Checklist https://drive.google.com/file/d/1eEkjGQibGP0zdiHk-uMSsMWFK-EVmzBT/view?usp=sharing Resources: Schedule A Call with Scott: http://callosborn.com/ Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii The Pilot's Planner Website: https://thepilotsplanner.com/ Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner…

The Wealthy Pilot's Podcast: Financial Flight Controls for Today's Commercial Airline Pilots

1
What You Need To Know About Fed Rate Cuts (Sept 2024 Update!) 14:23

28 weeks temu14:23

14:23

As of yesterday, the Federal Reserve announced a larger-than-expected interest rate cut of 50 basis points, surprising many who anticipated a smaller 25-point reduction. Scott has had several clients reach out to him about this unexpected move. So in today’s episode, we’ll talk about the implications of this decision, especially for those nearing retirement or facing major financial decisions. Here’s some of what we discuss in this episode: 0:00 – Intro 2:14 – Chatting with David Walker 4:14 – What do interest rates mean to the public? 7:04 – Maintaining a sound economic plan 9:20 – Rate cut impact on the market 12:14 – Final thoughts Resources: Schedule A Call with Scott: http://callosborn.com/ Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii The Pilot's Planner Website: https://thepilotsplanner.com/ Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner…

The Wealthy Pilot's Podcast: Financial Flight Controls for Today's Commercial Airline Pilots

1
Dealing with Market Volatility 13:13

30 weeks temu13:13

13:13

If you’ve ever flown on a plane, you’ve likely experienced some turbulence along the way. While it’s an uncomfortable feeling, in most cases, it often doesn't significantly impact the overall journey. Similarly, market volatility is a natural part of investing, but it doesn’t have to derail your plan. Here’s some of what we discuss in this episode: 0:00 – Intro 2:14 – Making adjustments along the way 4:40 – Staying the course despite turbulence 7:22 – Getting better investment performance over time 8:51– It’s vital to have a plan Resources: Schedule A Call with Scott: http://callosborn.com/ Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii The Pilot's Planner Website: https://thepilotsplanner.com/ Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner…

The Wealthy Pilot's Podcast: Financial Flight Controls for Today's Commercial Airline Pilots

1
Tax Planning: 401k Vs Roth 401k 12:01

31 weeks temu12:01

12:01

Tax planning might not be the most exciting topic, but it's certainly an important one. In this week’s episode, Scott and Marc chat about the differences between traditional 401ks and the increasingly popular Roth 401k when it comes to taxes. For pilots, the 401k is often the largest wealth-building tool, so it’s very important to understand how to navigate them and how they could affect your taxes now and in the future. Here’s some of what we discuss in this episode: 0:00 – Intro 1:09 – Sub-accounts in a 401k 3:45 – Advantages of Roth 401ks 5:31 – Tax planning checklist 7:22 – Company matches 9:44 – Getting your 401k debt free Check out the Tax Planning Checklist HERE Resources: Schedule A Call with Scott: http://callosborn.com/ Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii The Pilot's Planner Website: https://thepilotsplanner.com/ Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner…

The Wealthy Pilot's Podcast: Financial Flight Controls for Today's Commercial Airline Pilots

1
Understanding Interest Rates and Stock Investments 10:56

32 weeks temu10:56

10:56

This week on the Wealthy Pilot’s Podcast, we’re focusing on interest rates and their impact on the stock and bond market. With recent fluctuations in the market and potential rate changes on the horizon, it's crucial to understand how these factors can affect your financial strategy, especially for those nearing retirement. Stay tuned as we break down how interest rates impact various sectors and the historical effects of rate cuts on the stock market. We’ll also discuss the importance of having a diversified investment strategy, especially in volatile markets. Here’s some of what we discuss in this episode: 0:00 – Intro 0:53 – Interest rates impact on investments 4:49 – Historical performance of rate cuts on stock market 6:27 – Having a diversified, well-structured investment plan Resources: Schedule A Call with Scott: http://callosborn.com/ Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii The Pilot's Planner Website: https://thepilotsplanner.com/ Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner…

The Wealthy Pilot's Podcast: Financial Flight Controls for Today's Commercial Airline Pilots

1
Election Cycles & Your Investments: What Pilots Need to Know 10:24

33 weeks temu10:24

10:24

Election years can stir up uncertainty, especially in the financial markets. But how should pilots, with their unique financial situations, navigate this turbulence? Stay tuned as Scott and Marc dive into the effects of election cycles on investing, finance, and retirement planning. Here’s some of what we discuss in this episode: 0:00 – Intro 0:38 – The stock market’s volatility 5:08 – Staying invested through political changes 7:07 – Being intentional with long-term decisions Resources: Schedule A Call with Scott: http://callosborn.com/ Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii The Pilot's Planner Website: https://thepilotsplanner.com/ Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner…

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