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How to Navigate an Aviation Down-Turn
Manage episode 401792867 series 3532176
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Tim hosts Dylan and Max from the 21. Five Show in this episode. Dylan and Max reflect on their experiences during various aviation downturns, spanning their 20-year careers. Max shares his proactive approach to mitigating career risks by diversifying his skill sets. Dylan talks about getting laid off right before his wedding and emphasizes the necessity of maintaining an emergency fund to weather unforeseen challenges. They caution against making long-term financial commitments at the peak of prosperity, urging newcomers to exercise restraint and avoid overextension. Dylan highlights the value of networking and building relationships within the aviation community, emphasizing its role as a safety net during career turbulence.
What You'll learn from this episode:
- Why an emergency fund is an important foundation to your financial plan
- What should your emergency fund target be based on your family’s income and industry facts
- Can you have too much or too little cash and how to reconcile your risk tolerance and your risk capacity
- How networking can have a direct impact on your financials
- Why diversifying beyond retirement accounts can help stabilize your finances during a down-turn
Resources
21.Five Podcast
21.Five Show LinkedIn Page
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Send Us Your Questions: pilotmoneypodcast@ceterainvestors.com
Disclosure:
Timothy Pope is a Certified Financial Planner™ offering securities and insurance products offered through Cetera Investment Services LLC, member FINRA, SIPC. Advisory services are offered through Cetera Investment Advisers LLC. Tim’s Branch Office is located at 5200 77 Center Drive, Suite 330, Charlotte, NC 28217. The branch phone number is 704-717-8900.
The views depicted in this material are for information purposes only and are not necessarily those of Cetera Investment Advisers.
This Podcast is designed to provide accurate and authoritative information on the subjects covered. It is not, however, intended to provide specific legal, tax, or other professional advice. For specific professional assistance, the services of an appropriate professional should be sought.
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