You’ve likely never thought about it before, but there’s a lot we can learn about retirement from flying. Yes, many of the same processes and principles that are used by pilots and planes can be applied to our financial plan. We’ll take you through those on this episode.
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Think about the last time you boarded a plane and took off for another destination. You probably didn’t consider it at the time, but that flight can teach you a lot about your retirement plan.
There are many comparisons between the two, and we’ll identify a few on this episode of Your Money & Your Life. Don Cash will walk us through some of the key elements to flying and explain how you can take those lessons and apply them to your plan. There’s a lot to learn from pilots in order to reach our final destination in retirement.
We’ll also answer a mailbag question from a listener that’s approaching retirement and worried about a possible market crash in the next six months. Does she have a legitimate concern?
And we’ll finish the show as we always do, by asking a question for Don that will help us get to know him a little better.
Listen to the entire show above or click the timestamps below to skip ahead to a specific segment.
[1:08] – Setting up today’s conversation on flying and retirement.
[2:45] – The first thing pilots do is log their flight plan.
[4:57] – Turbulence affects people in different ways.
[7:28] – Even pilots have help along the way.
[8:31] – Going through the different phases of investing.
[12:46] – Mailbag question: I’m retiring in six months and I’m wondering what will happen if we have another crash before I get to the finish line. Do you think I’ll be ok?
[15:54] – Getting to Know Don: What’s a movie or play you’ve seen recently that you really enjoyed?
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Donald W. Cash – CPA, CFP® is an independent advisor. Don began his career in 1985 as an accountant after graduating Rutgers University. In 1990 he entered the field of Estate Planning with a concentration in long term care planning. Don has been advising clients in the baby boomer and retirement market for 20 years. He has helped over 1,000 families with their planning needs. He advoctaes a holistic approach to Estate and Financial Planning as has relationships with other professionals including Attorneys, CPA’s, Mortgage Specialists, Insurance Specialists and Asset Managers. Don is married to Cathy and have 4 children, Carly, DJ, Nick and Tori. They live in Freehold, NJ.