All posts by CarlValeri

Host of Aviation Careers Podcast. For more about me go to AviationCareersPodcast/About.
Airline Pilot, Finance, Podcast

ACP153 Tips For High-Income Pilots Part 3 – What To Do With Excess Income

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In this episode, we continue our new series titled “Tips for high-Income Pilots. This series will eventually be an online video course.

As a reminder, we are not allowed by law to give you financial advice but this is only general information. You should consult your financial advisor for information specific to your needs. We recommend your finding a fee-based certified financial planner who must comply with the FINRA rules and regulations. Fiduciary is important.

Announcements:

Wanted: Student musicians for scholarship and internship

View the new scholarships guide at AerospaceScholarships.com

Due to Hurricane IRMA we may not be able to produce an episode next week. We also discuss what happens to an airline when a hurricane is approaching.

Tips For High-Income Pilots:

What to do with excess income?

  1. Side business
  2. Investing it wisely
  3. Cash vs. self vs. business vs. investments

Side business/hobby into income considerations

  1. Keep it legitimate (hobby loss rules, proper filings, liability, etc)
  2. How to find ideas
  3. Caution with Real Estate
  4. Tax planning with a new business
  5. Upfront deductions
  6. Purchasing things wisely

Tax efficient investments

  1. Municipal bonds
  2. Index funds
  3. Master Limited Partnerships
  4. Real estate (passive and active)
  5. Where you locate your investments

 

Pick Of the Week:

Aviation is Among The Rising Careers in Polk County’s Economy

Image Credit: Shutterstock.com

Airline Pilot, Careers, Pilot, Podcast

ACP152 Choosing The Best Airline For Your Career

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There are many airlines out there to choose from. How do you go about choosing the best airline for you given the options? In some circumstance, it might be an easy choice given we might just choose the first one to call or only receive an invite from just one carrier.

Others might receive multiple offers and need to evaluate their options. Some might just be trying to decide which airlines to submit their applications to.

Many make a decision based on block hour pay alone. But is there more to consider when making what will be a major life decision? Let’s look further into different considerations when deciding on which airline will be the best fit for you.

Choosing the Best Airline

The health and longevity of the airline.

  • Stability
  • Growth
  • Financials

The airline’s mission and your flying preference

  • Long haul? Short haul?
  • Passenger/cargo

Where do you live and where are the domiciles?

  • Is commuting a viable option?
  • Are there domiciles that would be attractive to live in?

What are the schedules like for a typical line holder?

  • PBS/ Line Bidding
  • Days off
  • Trip type vs personal preference
  • Ability to drop or pick up for money
  • Vacation and accrual

Overall Contract or Quality of life extras

  • 401K match
  • Profit sharing
  • Extras earning benefits
  • Health insurance (Big one)

The overall employee/management relationship

  • This one is tricky because it is so dynamic
  • If possible get a feel for the overall Pilot groups attitude knowing there will be extreme negatives and positives on both ends of the spectrum

These are many of the considerations while making a decision on which airline to work for or at the very least apply for. In some cases, applicants may have their choice while others go just to the one that calls. If you are able to choose it is important to consider all factors, not just the pay rates alone. When considering all factors it is more likely that the choice will be made that will result in the applicant selecting an airline that suits their life.

Airline Pilot, Business Aviation, Podcast, Questions Answered

ACP151 Training for Business Aviation with Paul Grieco

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Welcome to episode 151! Today I am joined by Paul Grieco to answer several listener questions, including one related to business aviation. Let’s get started!

Announcements:

  • An updated version of the 2017 Aviation Scholarships Guide will be coming out in September, with the 2018 edition coming out in January. If you have already purchased the 2017 version, Watch your Kindle or iBooks app for the update, which can be downloaded automatically.
  • Advice from Carl: When applying for a flying job, you can check your records with the FAA, so you don’t have any surprises in the interview.

Business Aviation Guidelines and Other Questions answered:

  • 59 years old, started in 2008, just achieved instrument rating.
  • From Russ: Would a Masters in Education be helpful to have in applying for a Check Airmen job?
  • Canadian Private Pilot, working toward a certificate, should you have a full-time career when training in a club? Is training through a club the best way to go for someone who cannot commit to Monday to Friday? Is the scheduling at a regional airline flexible enough to keep my current job?
  • Does commercial/business aviation require 1500 hours and 1st class medical, and should I train on a certain type of equipment, such as a plane or simulator with glass?
Careers, Helicopter Pilot, Law Enforcement, Podcast

ACP150 California Highway Patrol Pilot Jan Sears

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CHP Pilot Jan Sears

In this episode, we interview California Highway Patrol Pilot Jan Sears. Jan is passionate about aviation and has a unique path towards his career goal and will share with us.

Announcements:

Facebook.com/AviationCareersPodcast page is great for learning about new episodes, asking questions and discussing careers in aviation. I am also going to be adding announcements for quick meet ups for cities I am going to be in. If you would like to meet up for a cup of coffee or lunch let me know under those posts!

Jan and I Discuss his journey to becoming a Pilot for the California Highway Patrol Pilot:

  • His passion for aviation and how it began at the young age of 10. His attempt to fly fighters and the challenges due to a medical issue as well as life as an EMT.
  • Hired by California Highway Patrol.
  • Moving to air operations with CHP.
  • The aircraft and missions of CHP.
  • His advice to aspiring pilots.

Pick Of the Week:

CHP Air Operations, Golden Gate Division

Links:

California Highway Patrol on Wikipedia

California Highway Patrol Aviators Division in Action

CHP Aviation VehiclesSan Francisco from a CHP CockpitCHP performing a rescue

Airline Pilot, Finance, Podcast

ACP149 Tips For High-Income Pilots Part 2 – Saving Smart

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In this episode, we continue our a new series titled “Tips for high-Income Pilots. This series will eventually be an online video course.

As a reminder, we are not allowed by law to give you financial advice but this is only general information. You should consult your financial advisor for information specific to your needs. We recommend your finding a fee-based certified financial planner who must comply with the FINRA rules and regulations. Fiduciary is important.

Announcements:

Aviation Careers Facebook Page
For upcoming meetups, career news, and all of the episodes.

Tips For High-Income Pilots:

  • Saving for retirement
  • What to do when you’re maxing out your retirement plan limit.
  • “Excess Benefit Plan” options
  • What if you have a 401(k), Profit Sharing Plan, and a 401(a) plan?
  • Getting within “visual range” of how much you might need – it’s not as simple as you might think

Pick Of the Week:

Airspeedandmoney.com

Image Credit: Shutterstock.com

 

Medfly, Pilot, Podcast

ACP148 Life Of A Medfly Pilot with Sean Edwards

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Have you ever heard of a Medfly pilot? Building flight time towards becoming an airline means flight instructing for most pilots. A unique way to not only build flight time but to build much sought after multi engine turbine time is as a Medfly pilot. Here to discuss this unique job is medfly pilot Sean Edwards.

Announcements:

Don’t forget to send us your questions at feedback@aviationcareerspodcast.com.

Visit our facebook page for upcoming events and news:
facebook.com/aviationcareerspodcast

Sean Discusses his Journey to Being a Medfly Pilot:

  • What is a Medfly?
  • How to find a job as a Medfly pilot.
  • The advantages of building turbine Multiengine time.
  • The Challenges of being a Medfly pilot.
  • Things you might not realize while building multi engine time as a Medfly pilot to advance your career.

Links:

A Day at Medfly

The Battle Over the Medfly

MEDITERRANEAN FRUIT FLY PREVENTIVE RELEASE PROGRAM

Image Credit:

Photograph by Scott Bauer, USDA

Color Blindness, Flight Instructing, Podcast

ACP147 Building Hours As A Flight Instructor, Color Blindness, and More.

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At Aviation Careers Podcast we receive many questions about building hours as a Flight Instructor. We also get questions about how to get over the hurdle of color blindness. In this episode Robert Guyer and Carl Valeri answer your questions about these and other topics.

Announcements:

Don’t forget to look for meet ups at on our Facebook page.

Listener Questions and Feedback:

Terminal Aerodome Forcast, Building Time as a Flight Instructor, and Color Blindness

  • A question about the Terminal Aerodrome Forecast, TAFS and how this helps with aviation and flight planning. This will be discussed in detail on a future episode and Stuck Mic AvCast.
  • Writer is 55, retiring from a 30 year career in finance industry, looking for advice on opportunities for professional pilots at his age and what kinds of things could give him a leg up.
  • Australian flight student, paid a flight school but then decided to leave, has not been able to get money paid back.
  • Comment about Dan Freeman’s comments about building time.
  • Is there a better test than the standard used for color blindness?

Pick Of the Week:

Foundation: Redefine Your Core, Conquer Back Pain, and Move with Confidence

Terminal aerodrome forecast

 

Image Credit:

Shutterstock

Finance, Podcast

ACP146 Tips For High Income Pilots Part 1

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In this episode we start a new series called five tips for high Income Pilots. This series will eventually be an online video course. This podcast prepares you for your career as a pilot but one thing lacking is help for those pilots that listen who are high wage earners. In general in life once we start making over two hundred thousand a year there are not many avenues for advice and we hope to change that with this series.

Today I am joined by Andy Garrison, a Certified Financial Planner.

As a reminder we are not allowed by law to give you financial advice but this is only general information. You should consult your financial advisor for information specific to your needs. We recommend your finding a fee based certified financial planner who must comply with the FINRA rules and regulations. Fiduciary is important.

Announcements:

https://www.facebook.com/AviationCareersPodcast/
For upcoming meetups.

Tips For High-Income Pilots:

  1. The best three ways to reduce your lifetime taxes
    a. Don’t make it worse (minimize your investment taxes and withdrawals)
    b. If not meeting itemized deductions, bulk your giving and property taxes
    c. For charitable giving – consider assets and appreciated stocks
    d. Make the best use of your PS and RP contributions

Pick Of the Week:

Air, Speed, and Money Andy’s website, where you can sign up for his mailing list and receive a free copy of his book.

 

Image Credit:

Shutterstock

Podcast, Questions Answered

ACP145 CFI Schools, Changing Careers, and Are Low Minimums A Red Flag?

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Welcome to the Inspirational, Informational, and Transparent Aviation Career Podcast. In this episode we answer your questions regarding CFI schools, changing careers, and low minimums a red flag.

Announcements:

AerospaceScholarships.com 2018 will be published in September. We are moving to a purely electronic book version with links to current information online in the future.

Our online courses are moving to a new platform and will be complete by the end of the year. If you have a membership already we will transfer to the new platform. Currently, the course can be individually purchased at https://valeri-aviation.thinkific.com and will be available as bundles once we move all courses to this new platform.

The new studio is almost open in Lakeland. We will be moving in the middle of July and will have a meetup soon after at KLAL.

CFI schools, changing careers, and low minimums a red flag:

  • Looking into accelerated CFI training programs, questions about where to go and recommendations
  • Feedback from an Air Force Veteran using my GI Bill for flight training
  • Would Medivac or Air Evac flying Leer Jets help with my career and building time?
  • Working at a great job flying a KingAir, dispersing sterilized fruit flies low to the ground next to a mountain

Pick Of the Week:

https://valeri-aviation.thinkific.com our new membership learning program.

Podcast, Questions Answered

ACP144 Confidence In Your Aviation Career and Flying Freight To Build Hours

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In this episode, we discuss flying freight to build hours, ab-initio programs amidst the pilot shortage, and having confidence in your aviation career.

Announcements:

Scholarships Deadlines are approaching.

One example is SMS Pro’s aviation scholarship. The deadline of July 1st is swiftly approaching.

The scholarship is $1,000 and only requires three 500 word mini-essays on aviation safety. The scholarship can be found in our book on iTunes or Kindle at AerospaceScholarships.com.

Update: the deadline for this scholarship has been extended to July 7th!

Listener Questions and Feedback:

  •  I have a similar story to Jim in Episode 137. Starting at 39, have kids and lots of bills, working as an AMP-IA. I would like to know if career changers have anything in the works to help career changers move forward.
  • Avid listener, Av Geek, working in finance. Based on the shortage, do you think airlines will start ab initio programs? Do you see the future of flying eliminating the need for First Officers or even Captains?
  • After high school, I started college to study Criminal Justice but when I tried to switch to Aviation I could not get funding. So I switched to a local flight school. I then found a university that accepted my training along with online learning to obtain a Bachelor’s in Aviation Science. After instructing, I found a job flying freight in a Leer 35. Would I be hirable by the majors after flying freight?
  • Finishing up 4-year service as an officer in the US Marines, just turned 29, entering into flight training program paid by GI Bill. Considering part 121, but also flying in the reserves as C130. Which is better?

Pick Of the Week:

Aviation Safety Management Scholarship from SMS-Pro