Delta’s record-breaking $1.4 billion profit-sharing payout for 2024 has employees buzzing, with many set to receive an average of five weeks’ pay as their share. If you’re a pilot benefiting from this bonus, what’s the best way to put it to good use?

Join Scott and Marc as they explore how to strike the right balance between celebration and strategic financial planning. From bolstering emergency funds to maxing out 401(k) contributions early in the year, they share practical steps to make the most of your windfall.

Here’s some of what we discuss in this episode:

0:00 – Intro

1:40 – Delta’s record profits

3:24 – What to do with it?

7:57 – Final takeaways

Delta Profit Sharing Article:

https://news.delta.com/delta-employees-receive-average-five-weeks-pay-annual-profit-sharing

Resources:

Schedule A Call with Scott: http://callosborn.com/

Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii

The Pilot's Planner Website: https://thepilotsplanner.com/

Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner

In this episode, Scott and Marc chat about a recent lawsuit filed by an American Airlines pilot, which challenged the integration of ESG criteria into the company’s 401k plans. This opens up a wider discussion about the importance of transparency and fiduciary responsibility in retirement planning.

Listen in as Scott explains the difference between fiduciary and suitability standards and why understanding this could help you make more informed investment choices. Tune in for practical insights on how to get the most out of your 401(k) plan, whether you're a pilot or not!

Here’s some of what we discuss in this episode:

0:00 – Intro

0:39 – Overview of ESG

2:26 – Fiduciary duty vs suitability standards

3:38 – American Airlines lawsuit

5:52 – Understanding and optimizing your 401(k) plan

Lawsuit Article

https://finance.yahoo.com/news/american-airlines-focus-esg-401-183725452.html

Resources:

Schedule A Call with Scott: http://callosborn.com/

Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii

The Pilot's Planner Website: https://thepilotsplanner.com/

Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner

We’ve all heard about the importance of contributing to a 401(k) for retirement. But is it really enough on its own? For some, maybe it is, but it’s always wise to explore other options and keep an open mind.

In this episode, Scott dives into a range of strategies that could help you build wealth for retirement, from Roth IRAs and the "backdoor" Roth to life insurance, real estate investments, and tax loss harvesting.

Here’s some of what we discuss in this episode:

0:00 – Intro

1:05 – Figuring out how much you need to save

2:45 – Backdoor Roth

5:34 – Life insurance and real estate

8:39 – Tax loss harvesting

11:02 – Closing thoughts

Resources:

Schedule A Call with Scott: http://callosborn.com/

Scott's Book, A Pilot's Guide To Maximizing Wealth & Cashflow In Retirement: https://amzn.to/3xSn1ii

The Pilot's Planner Website: https://thepilotsplanner.com/

Watch the podcast on YouTube! https://www.youtube.com/@ThePilotsPlanner