How Side Gigs Impact Your Retirement Portfolio | The Airline Advisor

On this episode:

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.

What You’ll Learn in This Episode:

✈️ How some pilots balance side gigs with their flying careers
🏡 Real estate investing- Is it worth it?
💰 Tax benefits of starting an LLC for your side hustle
📊 The importance of income diversification for pilots
🤔 How side gigs fit into a long-term retirement plan

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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

Schedule A Call with Scott

Scott’s Book, A Pilot’s Guide To Maximizing Wealth & Cashflow In Retirement

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Opinions expressed herein are solely those of Patriot Wealth Planners and our editorial staff. The information contained in this material has been derived from sources believed to be reliable but is not guaranteed as to accuracy and completeness and does not purport to be a complete analysis of the materials discussed. All information and ideas should be discussed in detail with your individual adviser prior to implementation. Advisory services are offered by Patriot Wealth Planners an Investment Advisor in the State of Ohio. Being registered as an investment adviser does not imply a certain level of skill or training.

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Purchases are subject to suitability. This requires a review of an investor’s objective, risk tolerance, and time horizons. Investing always involves risk and possible loss of capital.

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©2024. All rights reserved.

All content is for information purposes only. It is not intended to provide any tax or legal advice or provide the basis for any financial decisions. Nor is it intended to be a projection of current or future performance or an indication of future results.

Opinions expressed herein are solely those of Patriot Wealth Planners and our editorial staff. The information contained in this material has been derived from sources believed to be reliable but is not guaranteed as to accuracy and completeness and does not purport to be a complete analysis of the materials discussed. All information and ideas should be discussed in detail with your individual adviser prior to implementation. Advisory services are offered by Patriot Wealth Planners an Investment Advisor in the State of Ohio. Being registered as an investment adviser does not imply a certain level of skill or training.

The information contained herein should in no way be construed or interpreted as a solicitation to sell or offer to sell advisory services to any residents of any State other than the State of Ohio or where otherwise legally permitted.

Images and photographs are included for the sole purpose of visually enhancing the website. None of them are photographs of current or former Clients. They should not be construed as an endorsement or testimonial from any of the persons in the photograph.
Purchases are subject to suitability. This requires a review of an investor’s objective, risk tolerance, and time horizons. Investing always involves risk and possible loss of capital.

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©2024. All rights reserved.