Welcome back to another episode of Passive Income Pilots! Today, we have a fantastic conversation with Jason Depew, a captain with a US major airline and certified Top Gun. Jason has a wealth of knowledge about pilot finances, having written for various aviation magazines and authored the book "Pilot Math Treasure Bath." In this episode, Jason shares his journey from military pilot to airline captain, his financial strategies, and insights into market-based cash balance plans. Whether you're looking to optimize your retirement savings, invest in real estate, or diversify your income streams, Jason's practical advice and personal experiences will provide invaluable guidance.
Timestamped Show Notes
(00:55) Introduction of guest Jason Depew
(02:27) Importance of having an open mind in investing
(03:52) Jason’s background: From Air Force to airline pilot
(06:23) Financial advice for new airline pilots
(08:42) Tait’s personal saving strategy for newly upgraded captains
(10:00) Jason’s approach to financial independence
(11:34) Explanation of the 4% rule for retirement withdrawals
(13:19) Comparing accumulation vs. cash flow strategies
(16:30) Importance of having an anti-fragile portfolio
(18:19) Advantages of tax-advantaged accounts and additional investing
(19:40) Ryan’s questions about initial investment strategies
(20:17) Jason’s high yield savings account strategy
(23:27) Liquid investments and asset allocation
(25:30) Diversifying into syndications and angel investing
(26:29) Introduction to market-based cash balance plans
(29:07) Example of how cash balance plans work
(30:08) Opting out of market-based cash balance plans
(32:46) Strategies to control contributions to market-based cash balance plans
(35:47) Relieving tax burdens with strategic investments
(36:16) Rolling over cash balance plans into self-directed IRAs
(39:55) Importance of protecting scope clauses in pilot contracts
(41:36) Innovative provisions in pilot contracts
(42:16) Soft pay provisions and their impact on quality of life
(44:19) Jason’s book "Pilot Math Treasure Bath" and financial spreadsheets
(46:22) Recommended resources for financial education
(48:08) Lessons learned about market-based cash balance plans
(49:46) Closing remarks and how to connect with Jason
Referenced Materials
pilotmathtreasurebath.com/bible/
pilotmathtreasurebath.com/2020/05/13/high-yield-savings/
Your Money or Your Life by Vicky Robin and Joe Dominguez
#55 - First Class Intro to Angel Investing with OfferUp Founder Nick Huzar
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Legal Disclaimer
The content of this podcast is provided solely for educational and informational purposes. The views and opinions expressed are those of the hosts, Tait Duryea and Ryan Gibson, and do not reflect those of any organization they are associated with, including Turbine Capital or Spartan Investment Group. The opinions of our guests are their own and should not be construed as financial advice. This podcast does not offer tax, legal, or investment advice.