THE WEALTHY PILOT’S PODCAST
Welcome to The Wealthy Pilot’s Podcast: Financial Flight Controls for Today’s Commercial Airline Pilots, where we navigate the skies of financial success with your host, Scott Osborn, The Airline Advisor.
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Contingency Planning- Creating Your “When I Die” Plan
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.
What Is Contingency Planning? (And Why It’s Important!)
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.
Tax Prep Vs Tax Planning: What’s The Difference?
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.
What You Need To Know About Fed Rate Cuts (Sept 2024 Update!)
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.
Dealing with Market Volatility
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.
Tax Planning: 401k Vs Roth 401k
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.
