Could it actually be more economical for UMC families to charter a private jet together?

[Anonymous]

Anonymous wrote:

Anonymous wrote:My ILs went in on a private jet with another family. My nephew is a pilot.

However, they are NOT UMC. They’re worth at least $7M.

$7MM is UMC around here... for full networth of a couple including retirement.
No way is that considered "rich"...

BULLSH*T!

[Anonymous]

Anonymous wrote:

Anonymous wrote:My ILs went in on a private jet with another family. My nephew is a pilot.

However, they are NOT UMC. They’re worth at least $7M.

$7MM is UMC around here... for full networth of a couple including retirement.
No way is that considered "rich"...

No

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My ILs went in on a private jet with another family. My nephew is a pilot.

However, they are NOT UMC. They’re worth at least $7M.

$7MM is UMC around here... for full networth of a couple including retirement.
No way is that considered "rich"...

If you were to invest $7M, and draw 2%, that would give you at least $140,000 income for at least 50 years.

…and $140,000 a year isn’t rich.

[Anonymous]

From an environmental point of view it's not worth it. But that will not interest you.

[Anonymous]

Anonymous wrote:From an environmental point of view it's not worth it. But that will not interest you.

Yeah, we're on page 3 before someone points this out. But they don't care.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My ILs went in on a private jet with another family. My nephew is a pilot.

However, they are NOT UMC. They’re worth at least $7M.

$7MM is UMC around here... for full networth of a couple including retirement.
No way is that considered "rich"...

If you were to invest $7M, and draw 2%, that would give you at least $140,000 income for at least 50 years.

…and $140,000 a year isn’t rich.

It’s not, but if you have housing and healthcare taken care of and you don’t have to work, it can be pretty comfortable.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My ILs went in on a private jet with another family. My nephew is a pilot.

However, they are NOT UMC. They’re worth at least $7M.

$7MM is UMC around here... for full networth of a couple including retirement.
No way is that considered "rich"...

If you were to invest $7M, and draw 2%, that would give you at least $140,000 income for at least 50 years.

…and $140,000 a year isn’t rich.

Why would you only draw 2%?

4% would give you $280k and you should be able to do that without decreasing the principle.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My ILs went in on a private jet with another family. My nephew is a pilot.

However, they are NOT UMC. They’re worth at least $7M.

$7MM is UMC around here... for full networth of a couple including retirement.
No way is that considered "rich"...

If you were to invest $7M, and draw 2%, that would give you at least $140,000 income for at least 50 years.

…and $140,000 a year isn’t rich.

$140k/year passive income in a paid-off house is rich, yes. Remember we’re assuming the person drawing the income doesn’t work.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My ILs went in on a private jet with another family. My nephew is a pilot.

However, they are NOT UMC. They’re worth at least $7M.

$7MM is UMC around here... for full networth of a couple including retirement.
No way is that considered "rich"...

If you were to invest $7M, and draw 2%, that would give you at least $140,000 income for at least 50 years.

…and $140,000 a year isn’t rich.

$140k/year passive income in a paid-off house is rich, yes. Remember we’re assuming the person drawing the income doesn’t work.

np. We have a $3M portfolio and a paid off house. Most of the investments are in retirement accounts, and they're almost 100% stocks. If our investments generate 5%, then I guess that's $150k passive income.

We have a combined earned income of about $250k, of which we try to keep contributing a good amount to retirement accounts. The fact that the investments have been flat, overall, for over two years now, plus the rising prices on everything, has made us feel very, very un-rich.

We've got three college educations starting in two years to think about.

[Anonymous]

There is *so* much Covid money sloshing around Washington and state capitols right now. People are getting paid, often people you least expect. When you see a flashy chartered jet for a family vacation, that is evidence of a recent windfall.

[Anonymous]

Anonymous wrote:There is *so* much Covid money sloshing around Washington and state capitols right now. People are getting paid, often people you least expect. When you see a flashy chartered jet for a family vacation, that is evidence of a recent windfall.

WDYM covid money?

[Anonymous]

Anonymous wrote:From an environmental point of view it's not worth it. But that will not interest you.

This. Climate criminals against their own children.

[Anonymous]

I"ve looked into this. A private jet is $1k-4k/hour depending on the size. It works best when you're going to a place < 3 hours away, that you can't get there directly from DC. It could be either a place that requires a connection, or one where the nearest airport is 2+ hours away. This can happen with a lot of vacation spots.

For example, Outer Banks has no commercial air service, and the nearest airport is 100+ miles away. They do have Dare County Airport you can fly a private jet into.

Indeed the arrivals today are private jets, including one from Manassas;
https://flightaware.com/live/airport/KMQI

So that's a 1-hour flight. Let's say it's $3k to charter for 4 people = $6k total. Compare that to buying 4 tickets on United from Dulles fro $500 each = $2000 each way = $4,000 round-trip. Is it worth spending 50% more and saving hours of time and hassle? For a lot of people, it is.

[Anonymous]

12:15 here. My math is wrong, the $500 on United is round-trip not one-way, so private costs more than 50% higher. It's $2k vs $6k.

[Anonymous]

I think that estimate is low. DH flies private jets. It’s 6K/hour for propeller based planes, $8K/hour for a jet. The plane sits 8 people max.

The convenience is skipping the main terminal and flying out of the FOB. You drive up, park right here, walk-in and fly.