As a pilot you have probably long realised that your financial profile and needs differ considerably
from that of people doing ‘normal’ jobs. It is therefore quite likely that you struggle to find value in
‘general’ financial advice since most of the things that are recommended are simply not applicable to you.
This was written with you, the professional airline pilot. We trust that you will find the information
beneficial and that it will be a catalyst to help you make the decisions necessary to secure your long
term financial future. Make sure that your financial planning is in order before it’s too late.

We’ll begin by discussing some of the typical financial issues faced by pilots. This will be followed by
some practical suggestions on how you can make your money work for you now, and when your
flying career is over.

It is very difficult (and somewhat dangerous) to generalise when it comes to personal finances. We
are, however, quite certain that you will see at least something of your own financial profile in the
following description:

According to CASA becoming a pilot is COSTLY!

The time it takes to obtain a licence can depend on a number of factors such as whether you are undertaking full time training or on an ad-hoc basis, aircraft availability, weather and of course your financial situation. An average student will qualify for a private pilot licence after approximately 55-60 hours. If completing training on a part time basis, say 1 hour a week, this will take just over 12 months. Full time training will take about 2 months. For a commercial licence, the 150 hour course will take approximately 12 months full time. If you elect to undertake training on an ad-hoc basis, the minimum number of hours you must have will increase to 200hrs and this will take you between 2-3 years to acquire.
The cost of flying training will be a significant factor in your decision making. The cost will vary depending on the type of aircraft you fly (the more sophisticated the aircraft, the greater the cost), how often you fly (spreading your training over a long period will invariably mean more hours to achieve your goal) and how quickly you pick up on what’s being taught. A rough guide on the cost of obtaining a licence follows:

. Private Pilot (Aeroplane) Licence - $8000
. Private Pilot (Helicopter) Licence - $17000
. Commercial Pilot (Aeroplane) Licence - $23000
. Commercial Pilot (Helicopter) Licence - $32000
. Instrument Rating - $10000 (aero), $14000 (heli) plus cost of PPL or CPL
. Air Transport Pilot (Aeroplane) Licence - $2600 + cost of CPL + cost of meeting 1500 hour experience requirement
. Air Transport Pilot (Helicopter) Licence - as for ATP(A)L

Prices do not include the cost of study material, licensing fees and medical examinations. Training requirements and therefore costs for helicopter licences can be reduced if you qualify for an aeroplane licence and then convert to helicopters.

Current estimates set training costs with CPL and 1500 hours (just multiply at $100 per hour at the very least) of experience are around $180,000. Getting the right ratings and endorsements in place will add a further $50,000 before a pilot even begins his/her career. These costs mean that most pilots enter the profession with a significant amount of debt to pay off - just as broke as an MBA graduate from Harvard or Yale.

Delayed earnings curves

It is true that some pilots earn very large salaries. This is, however, certainly not true of all pilots. Salaries in the airline industry are very dependent on rank with the highest salaries only achieved once a pilot moves into the captain’s seat.

This status can take some years to achieve which means that pilots will have to deal with significantly lower salaries while they
work their way up through the ranks. It is therefore not uncommon for pilots to reach their top
earnings potential much later than members of other professions and to do so at times when they
have significant other financial commitments (e.g. private school fees, mortgages etc.). The upshot
of this is that many pilots find it difficult to save for retirement.

A struggling industry

Airlines are currently experiencing very difficult operating environments,
with many airlines having to cut back on flights. This has resulted in widespread layoffs and
reductions in working hours and remuneration. Many flight personnel are therefore dealing with
significant job insecurity and the possibility of the loss of income.

Vulnerability to negative health outcomes

Health problems that would merely be inconvenient
for ‘normal’ workers (e.g. deteriorating eyesight) could be career stoppers for airline pilots. Add to
this the fact that burn-out is increasingly common among airline pilots, and it becomes clear why
many pilots have to leave the profession well before official retirement age. It goes without saying
that such a move could lead to a significant reduction in income if proper income protection
strategies are not in place.

Vulnerability to litigation and loss-of-license

Commercial Pilots work in high stress environments where even a small mistake could lead to expensive litigation and even the revoking of a license. Asset protection should be a key. Unfortunately many pilots are inadequately protected against
the cost and loss of income that could result from adverse events.

Cash rich, time poor

Pilots at the higher end of the spectrum earn significant incomes
based on a significant amount of time in the cockpit. This means that many pilots do not have the
time, or the energy, to devote focussed attention to financial planning when they are not flying.
All of the above should make it clear that, although many pilots have access to relatively high
incomes, their financial position is certainly not as rock solid as the big pay cheques would suggest.
A very wise person once remarked: “Unless you tell your money what to do it will simply go
walkabout!” As a very busy professional you may struggle to find the time to draw up a budget. We
want to emphasise that this should be the highest priority. A personal budget is absolutely essential
for anyone wanting to secure his/her financial future. It is even more important in cases where your
income exceeds your day-to-day needs (which may be the case if you are currently at the top of the
profession) as it will serve as a mechanism to keep you from inadvertently spending funds that
should last you a lifetime. Some basic principles of budgeting include the following:

Budgeting and Goals

This may seem like a complete no-brainer, but disregarding this rule sits at the heart of most budget
related woes. It would perhaps be possible to live beyond your means for a few months or even years, but this kind of lifestyle
will exact its toll sooner or later, usually in the form of crushing financial difficulties. The basic
function of a budget is to ensure that you do not cross the line into spending money that you
do not have.

Debt Management - Get Rid of Non-deductible debt quickly

It is totally unrealistic, for most people at least, to go through life without ever taking on any debt. The important thing to remember is that not all debts have been created equal. Some kinds of debt (e.g. a mortgage) can have
positive effects on long term financial health as it helps to secure capital assets. There are,
however, other kinds of debts (e.g. high interest unsecured loans, credit card debts and ‘high
end’ vehicle finance) that are almost guaranteed to keep your personal budget from
balancing.

Invest

One of the most common financial mistakes that people
who are not in debt make is to simply assume that a lack of debt will automatically translate
into a secure financial future. Nothing can be further from the truth! You will still have to take
care of your money with long term investment goals in mind. Not doing so is akin to simply
leaving your cash in a box under the bed!

Get ready for a rainy day

Even the best laid plans of mice and men can go awry and
there are usually some financial implications when they do! You should do your best to
protect yourself against unforeseen circumstances by taking out adequate insurance and the
creation of a ‘rainy day fund’ .None of us like to think about the possibility of difficult circumstances coming our way, but thinking
about it (and doing our best to prepare) is an essential part of financial planning. Doing this is
especially important for pilots, given the severe impact that a career stopping event could have on
your income.

The following elements should be combined to make sure that you are adequately
prepared:

Get excellent income protection cover

We believe that Income Protection should be a key plank in the financial strategy of pilots.
However, many pilots have found that ‘general’ income protection
insurance policies do not meet their needs. This is because these policies were not designed to
take the pilot-specific factors mentioned above into account. Thankfully the insurance industry is
beginning to respond to the insurance needs of pilots by creating specialised pilot (and aircrew)
policies.

As a Pilot or Flight Engineer, you are responsible for people’s lives when you’re in the air. But down on the ground, it’s all about you and your family. Income protection for Commercial Pilots and Flight Engineers Income protection insurance protects your ability to earn an income should you suffer sickness or injury - providing financial security for you and your family. We will pay a monthly benefit of up to 75% of your income. You can choose between Income Care or Income Care Plus Cover.
Features:
. Total Disability based on ‘own’ occupation
. Benefit period two, five years or to age 60
. Maximum monthly benefit of $30,000*
. Partial Disability Benefit of two years
. Minimum 30 day waiting period
. Choice of Agreed Value or Indemnity.

There is not much to choose from as Tower and Asteron have withdrawn from the market, possibly due to a large volume of claims:

Comminsure: Income Care Aviation Cover for Commercial Pilots and Flight Attendants.

Eligibility
. Australian citizen residing permanently in Australia
. Holds an Australian Airline Transport Licence (Pilots) or Australian Flight Engineer Licence (Flight Engineers)
. Employed by a recognised fixed schedule commercial fare paying passenger airline operating within Australia
. Copy of current Civil Aviation Safety Association (CASA) medical examination and any additional tests or reports
. Minimum entry age 20 (next birthday)
. Maximum entry age 55 (next birthday)
. Expiry age 60 (minimum five year policy duration).

We highly recommend that you study the terms, conditions and benefits of each of these policies in
order to ensure that you choose one that is the best fit for you and your circumstances. It would be
even better if you get impartial, outside advice by having a financial adviser familiar with your
circumstances go through the policies on your behalf.

The reason why we recommend extensive research is the fact that the policies differ substantially in
the benefits they offer.

Some of the questions that you should ask before signing on the dotted line are:
-Will I be covered for ‘own occupation’ (i.e. will the policy pay out if I cannot work as a pilot)? And if ‘yes’, how could I structure it as part of my superannuation sighting recent legislative changes?
-Will I be covered only for base income or full earnings (base income plus allowances and
superannuation)?

-What is the waiting period before cover will commence?
-Will I be covered only whilst at work or does the policy extend 24/7 cover?

Make sure that you are comprehensively insured: We believe that income protection insurance
is of critical importance for pilots (which is why it was discussed in a separate section). There are
also some other areas of insurance to which you should pay close attention.

Personal liability insurance: This will protect you from the impact of lawsuits or compensation
claims based on your actions in the cockpit. You may be covered for personal liability by a
policy arranged by your airline. It is advisable to find out whether this is in fact the case and
whether the level of cover is sufficient.

Loss-of-license insurance: The loss of your flying license, even temporarily, can have a
significant negative impact on your income. Loss-of-license insurance policies are often
provided by airlines. Again, it would be advisable to make doubly sure that you are indeed
covered at sufficient levels.

Life insurance: A good life insurance policy will ensure that your loved ones are financially
taken care of, even if tragic circumstances mean that you are no longer there to provide for
them.

Some insurance companies market products aimed at pilots that combine some or all of the
different types of insurance listed above. Some of these policies represent good value for money
while others are nothing more than fancy ‘wrappers’ for standard policies (Putting ‘pilot’ on a
portfolio of products is no guarantee that it is indeed suited to the needs of pilots!) A competent and
independent financial adviser should be able to help you sort the wheat from the chaff.

Cash Buffer
Although taking out insurance is very important it should certainly
not be the sum total of your ‘rainy day preparations’. Increase your preparedness by establishing an
emergency fund that can only be accessed under certain predefined circumstances.

Get your Wills in order
Far too many professionals do not have a proper will in
place. This is a pitfall you should do your best to avoid for the sake of your loved ones. The
necessity of proper estate planning is even more acute if you have a relatively high net worth since
ill-defined or ‘unprotected’ estates can lead to massive tax liabilities and/or to your estate not being
distributed in line with your wishes.

Investments
It is our opinion that the key investment focus of pilots should be long term wealth creation. In
practice this would mean following a fairly conservative strategy geared toward securing a steady
income after your flying days are over. Your investment strategy should also ideally deliver lump
sum income to deal with major life events like the kids going to university, major relocations and
retirement.

Only if you are satisfied that the ‘bases are covered’ by using a more conservative wealth creation
and preservation strategy should you even begin to consider more aggressive speculative
investments. Far too many investors have burnt their fingers at exactly this point. You can avoid
getting burnt yourself by:

-Being highly suspicious of ‘get rich quickly’ schemes. Responsible investment is much more
of a ‘get rich slowly’ affair.
-Diversifying risk. Putting all your financial eggs in one basket is asking for trouble and should
therefore be avoided at all costs.
-Always making use of the services of an independent and professional financial adviser
before making major investment decisions.

Tax matters
Many pilots are unsure about their tax positions and the deductions they might be able to claim.
Unfortunately this uncertainty often translates into under-claiming as a means of taking the easier
and simpler route to filling in a tax form. Obviously this approach can cost quite a bit of money over
the long term.
The best way you can protect yourself against giving Caesar more than his due is to spend some
time listening to what Caesar himself has to say. The Australian Taxation Office (ATO) maintains a
web page dedicated to tax issues, deductions and rulings relevant to airline staff. This page can be
found at ato.gov.au and should be your first port of call before you begin to fill in your tax return.
If you make use of a tax adviser you should also make sure that he/she is aware of this resource before
work begins on your return.

Retire in style
Planning for your retirement should be one of the cornerstones of personal financial management.
Therefore it is imperative that you take the time to do a few projections of the likely state of your
finances in retirement. If the results of your projections are less than satisfactory you should
obviously do your best to improve the position as much as possible before you actually reach
retirement age.

The one area that you should pay particular attention to is the state of your superannuation fund(s).
Make sure that you regularly bolster your super by making personal contributions. There are two
distinct benefits to doing so: not only will you have more money when you reach retirement age, you
will also have grown your fund in a very ‘tax friendly’ way.
As you count down the years to retirement it is very important that you ’stay on top’ with what is
happening with your super. Here are a few suggestions for doing so:

-Stay up to date: Make sure that you keep all documents relating to superannuation in one place and
that you carefully read all correspondence and statements. This will allow you to have a consistently
accurate picture of where your fund is heading.
-Keep your details up to date: The best way to prevent your super from ‘getting lost’ is to make sure
that your fund has your latest contact details.
-Make sure that your super fund has your tax file number (TFN): You may be paying more tax on
your super than you have to. Giving your fund access to your TFN will reduce the likelihood of this
happening.
-Consolidate your funds: If you have worked for a few different employers or airlines it may be that
you have small amounts of super in a few different funds. It’s worth investigating whether you will not
be better off combining these funds into a single super fund. This will make your funds easier to
manage and will, in most cases, reduce the fees and charges you are required to pay. The key
questions you will need to ask before you consolidate funds are: Are you losing valuable insurance
cover by doing so, or if the funds that you belong to charge such high ‘exit fees’ that moving will not
be worth your while.
-Keep a close eye on your fund: It is very important that you carefully read all correspondence from
your fund. This will, among other things, help you understand the investment approach that governs
your fund. You should also benchmark the performance of your fund against that of similar funds. If
you are unhappy with either the investment approach or performance (or both) it might be a good idea
to move to another provider. It is, however, highly recommended that you get professional financial
advice before doing so.

-Keep a close eye on the market and economy: Unless you want a repeat of Ansett, get yourself a good financial adviser who will act for you according to changes in economy, industry and markets. You don’t let an auto-pilot do all the work, so don’t leave your super to an empty cockpit.

-Take control: Consider a self managed superannuation to take control where your money is invested. It may workout much cheaper for you to pay few hundred dollars a year for accounting rather than pay 1%-3% on your balance each year.

Good luck.

To get yourself a good financial adviser, visit the website: http://inkom.com.au/

As a pilot you have probably long realised that your financial profile and needs differ considerably
from that of people doing ‘normal’ jobs. It is therefore quite likely that you struggle to find value in
‘general’ financial advice since most of the things that are recommended are simply not applicable to you.
This was written with you, the professional airline pilot. We trust that you will find the information
beneficial and that it will be a catalyst to help you make the decisions necessary to secure your long
term financial future. Make sure that your financial planning is in order before it’s too late.

We’ll begin by discussing some of the typical financial issues faced by pilots. This will be followed by
some practical suggestions on how you can make your money work for you now, and when your
flying career is over.

It is very difficult (and somewhat dangerous) to generalise when it comes to personal finances. We
are, however, quite certain that you will see at least something of your own financial profile in the
following description:

According to CASA becoming a pilot is COSTLY!

The time it takes to obtain a licence can depend on a number of factors such as whether you are undertaking full time training or on an ad-hoc basis, aircraft availability, weather and of course your financial situation. An average student will qualify for a private pilot licence after approximately 55-60 hours. If completing training on a part time basis, say 1 hour a week, this will take just over 12 months. Full time training will take about 2 months. For a commercial licence, the 150 hour course will take approximately 12 months full time. If you elect to undertake training on an ad-hoc basis, the minimum number of hours you must have will increase to 200hrs and this will take you between 2-3 years to acquire.
The cost of flying training will be a significant factor in your decision making. The cost will vary depending on the type of aircraft you fly (the more sophisticated the aircraft, the greater the cost), how often you fly (spreading your training over a long period will invariably mean more hours to achieve your goal) and how quickly you pick up on what’s being taught. A rough guide on the cost of obtaining a licence follows:

. Private Pilot (Aeroplane) Licence - $8000
. Private Pilot (Helicopter) Licence - $17000
. Commercial Pilot (Aeroplane) Licence - $23000
. Commercial Pilot (Helicopter) Licence - $32000
. Instrument Rating - $10000 (aero), $14000 (heli) plus cost of PPL or CPL
. Air Transport Pilot (Aeroplane) Licence - $2600 + cost of CPL + cost of meeting 1500 hour experience requirement
. Air Transport Pilot (Helicopter) Licence - as for ATP(A)L

Prices do not include the cost of study material, licensing fees and medical examinations. Training requirements and therefore costs for helicopter licences can be reduced if you qualify for an aeroplane licence and then convert to helicopters.

Current estimates set training costs with CPL and 1500 hours (just multiply at $100 per hour at the very least) of experience are around $180,000. Getting the right ratings and endorsements in place will add a further $50,000 before a pilot even begins his/her career. These costs mean that most pilots enter the profession with a significant amount of debt to pay off - just as broke as an MBA graduate from Harvard or Yale.

Delayed earnings curves

It is true that some pilots earn very large salaries. This is, however, certainly not true of all pilots. Salaries in the airline industry are very dependent on rank with the highest salaries only achieved once a pilot moves into the captain’s seat.

This status can take some years to achieve which means that pilots will have to deal with significantly lower salaries while they
work their way up through the ranks. It is therefore not uncommon for pilots to reach their top
earnings potential much later than members of other professions and to do so at times when they
have significant other financial commitments (e.g. private school fees, mortgages etc.). The upshot
of this is that many pilots find it difficult to save for retirement.

A struggling industry

Airlines are currently experiencing very difficult operating environments,
with many airlines having to cut back on flights. This has resulted in widespread layoffs and
reductions in working hours and remuneration. Many flight personnel are therefore dealing with
significant job insecurity and the possibility of the loss of income.

Vulnerability to negative health outcomes

Health problems that would merely be inconvenient
for ‘normal’ workers (e.g. deteriorating eyesight) could be career stoppers for airline pilots. Add to
this the fact that burn-out is increasingly common among airline pilots, and it becomes clear why
many pilots have to leave the profession well before official retirement age. It goes without saying
that such a move could lead to a significant reduction in income if proper income protection
strategies are not in place.

Vulnerability to litigation and loss-of-license

Commercial Pilots work in high stress environments where even a small mistake could lead to expensive litigation and even the revoking of a license. Asset protection should be a key. Unfortunately many pilots are inadequately protected against
the cost and loss of income that could result from adverse events.

Cash rich, time poor

Pilots at the higher end of the spectrum earn significant incomes
based on a significant amount of time in the cockpit. This means that many pilots do not have the
time, or the energy, to devote focussed attention to financial planning when they are not flying.
All of the above should make it clear that, although many pilots have access to relatively high
incomes, their financial position is certainly not as rock solid as the big pay cheques would suggest.
A very wise person once remarked: “Unless you tell your money what to do it will simply go
walkabout!” As a very busy professional you may struggle to find the time to draw up a budget. We
want to emphasise that this should be the highest priority. A personal budget is absolutely essential
for anyone wanting to secure his/her financial future. It is even more important in cases where your
income exceeds your day-to-day needs (which may be the case if you are currently at the top of the
profession) as it will serve as a mechanism to keep you from inadvertently spending funds that
should last you a lifetime. Some basic principles of budgeting include the following:

Budgeting and Goals

This may seem like a complete no-brainer, but disregarding this rule sits at the heart of most budget
related woes. It would perhaps be possible to live beyond your means for a few months or even years, but this kind of lifestyle
will exact its toll sooner or later, usually in the form of crushing financial difficulties. The basic
function of a budget is to ensure that you do not cross the line into spending money that you
do not have.

Debt Management - Get Rid of Non-deductible debt quickly

It is totally unrealistic, for most people at least, to go through life without ever taking on any debt. The important thing to remember is that not all debts have been created equal. Some kinds of debt (e.g. a mortgage) can have
positive effects on long term financial health as it helps to secure capital assets. There are,
however, other kinds of debts (e.g. high interest unsecured loans, credit card debts and ‘high
end’ vehicle finance) that are almost guaranteed to keep your personal budget from
balancing.

Invest

One of the most common financial mistakes that people
who are not in debt make is to simply assume that a lack of debt will automatically translate
into a secure financial future. Nothing can be further from the truth! You will still have to take
care of your money with long term investment goals in mind. Not doing so is akin to simply
leaving your cash in a box under the bed!

Get ready for a rainy day

Even the best laid plans of mice and men can go awry and
there are usually some financial implications when they do! You should do your best to
protect yourself against unforeseen circumstances by taking out adequate insurance and the
creation of a ‘rainy day fund’ .None of us like to think about the possibility of difficult circumstances coming our way, but thinking
about it (and doing our best to prepare) is an essential part of financial planning. Doing this is
especially important for pilots, given the severe impact that a career stopping event could have on
your income.

The following elements should be combined to make sure that you are adequately
prepared:

Get excellent income protection cover

We believe that Income Protection should be a key plank in the financial strategy of pilots.
However, many pilots have found that ‘general’ income protection
insurance policies do not meet their needs. This is because these policies were not designed to
take the pilot-specific factors mentioned above into account. Thankfully the insurance industry is
beginning to respond to the insurance needs of pilots by creating specialised pilot (and aircrew)
policies.

As a Pilot or Flight Engineer, you are responsible for people’s lives when you’re in the air. But down on the ground, it’s all about you and your family. Income protection for Commercial Pilots and Flight Engineers Income protection insurance protects your ability to earn an income should you suffer sickness or injury - providing financial security for you and your family. We will pay a monthly benefit of up to 75% of your income. You can choose between Income Care or Income Care Plus Cover.
Features:
. Total Disability based on ‘own’ occupation
. Benefit period two, five years or to age 60
. Maximum monthly benefit of $30,000*
. Partial Disability Benefit of two years
. Minimum 30 day waiting period
. Choice of Agreed Value or Indemnity.

There is not much to choose from as Tower and Asteron have withdrawn from the market, possibly due to a large volume of claims:

Comminsure: Income Care Aviation Cover for Commercial Pilots and Flight Attendants.

Eligibility
. Australian citizen residing permanently in Australia
. Holds an Australian Airline Transport Licence (Pilots) or Australian Flight Engineer Licence (Flight Engineers)
. Employed by a recognised fixed schedule commercial fare paying passenger airline operating within Australia
. Copy of current Civil Aviation Safety Association (CASA) medical examination and any additional tests or reports
. Minimum entry age 20 (next birthday)
. Maximum entry age 55 (next birthday)
. Expiry age 60 (minimum five year policy duration).

We highly recommend that you study the terms, conditions and benefits of each of these policies in
order to ensure that you choose one that is the best fit for you and your circumstances. It would be
even better if you get impartial, outside advice by having a financial adviser familiar with your
circumstances go through the policies on your behalf.

The reason why we recommend extensive research is the fact that the policies differ substantially in
the benefits they offer.

Some of the questions that you should ask before signing on the dotted line are:
-Will I be covered for ‘own occupation’ (i.e. will the policy pay out if I cannot work as a pilot)? And if ‘yes’, how could I structure it as part of my superannuation sighting recent legislative changes?
-Will I be covered only for base income or full earnings (base income plus allowances and
superannuation)?

-What is the waiting period before cover will commence?
-Will I be covered only whilst at work or does the policy extend 24/7 cover?

Make sure that you are comprehensively insured: We believe that income protection insurance
is of critical importance for pilots (which is why it was discussed in a separate section). There are
also some other areas of insurance to which you should pay close attention.

Personal liability insurance: This will protect you from the impact of lawsuits or compensation
claims based on your actions in the cockpit. You may be covered for personal liability by a
policy arranged by your airline. It is advisable to find out whether this is in fact the case and
whether the level of cover is sufficient.

Loss-of-license insurance: The loss of your flying license, even temporarily, can have a
significant negative impact on your income. Loss-of-license insurance policies are often
provided by airlines. Again, it would be advisable to make doubly sure that you are indeed
covered at sufficient levels.

Life insurance: A good life insurance policy will ensure that your loved ones are financially
taken care of, even if tragic circumstances mean that you are no longer there to provide for
them.

Some insurance companies market products aimed at pilots that combine some or all of the
different types of insurance listed above. Some of these policies represent good value for money
while others are nothing more than fancy ‘wrappers’ for standard policies (Putting ‘pilot’ on a
portfolio of products is no guarantee that it is indeed suited to the needs of pilots!) A competent and
independent financial adviser should be able to help you sort the wheat from the chaff.

Cash Buffer
Although taking out insurance is very important it should certainly
not be the sum total of your ‘rainy day preparations’. Increase your preparedness by establishing an
emergency fund that can only be accessed under certain predefined circumstances.

Get your Wills in order
Far too many professionals do not have a proper will in
place. This is a pitfall you should do your best to avoid for the sake of your loved ones. The
necessity of proper estate planning is even more acute if you have a relatively high net worth since
ill-defined or ‘unprotected’ estates can lead to massive tax liabilities and/or to your estate not being
distributed in line with your wishes.

Investments
It is our opinion that the key investment focus of pilots should be long term wealth creation. In
practice this would mean following a fairly conservative strategy geared toward securing a steady
income after your flying days are over. Your investment strategy should also ideally deliver lump
sum income to deal with major life events like the kids going to university, major relocations and
retirement.

Only if you are satisfied that the ‘bases are covered’ by using a more conservative wealth creation
and preservation strategy should you even begin to consider more aggressive speculative
investments. Far too many investors have burnt their fingers at exactly this point. You can avoid
getting burnt yourself by:

-Being highly suspicious of ‘get rich quickly’ schemes. Responsible investment is much more
of a ‘get rich slowly’ affair.
-Diversifying risk. Putting all your financial eggs in one basket is asking for trouble and should
therefore be avoided at all costs.
-Always making use of the services of an independent and professional financial adviser
before making major investment decisions.

Tax matters
Many pilots are unsure about their tax positions and the deductions they might be able to claim.
Unfortunately this uncertainty often translates into under-claiming as a means of taking the easier
and simpler route to filling in a tax form. Obviously this approach can cost quite a bit of money over
the long term.
The best way you can protect yourself against giving Caesar more than his due is to spend some
time listening to what Caesar himself has to say. The Australian Taxation Office (ATO) maintains a
web page dedicated to tax issues, deductions and rulings relevant to airline staff. This page can be
found at ato.gov.au and should be your first port of call before you begin to fill in your tax return.
If you make use of a tax adviser you should also make sure that he/she is aware of this resource before
work begins on your return.

Retire in style
Planning for your retirement should be one of the cornerstones of personal financial management.
Therefore it is imperative that you take the time to do a few projections of the likely state of your
finances in retirement. If the results of your projections are less than satisfactory you should
obviously do your best to improve the position as much as possible before you actually reach
retirement age.

The one area that you should pay particular attention to is the state of your superannuation fund(s).
Make sure that you regularly bolster your super by making personal contributions. There are two
distinct benefits to doing so: not only will you have more money when you reach retirement age, you
will also have grown your fund in a very ‘tax friendly’ way.
As you count down the years to retirement it is very important that you ’stay on top’ with what is
happening with your super. Here are a few suggestions for doing so:

-Stay up to date: Make sure that you keep all documents relating to superannuation in one place and
that you carefully read all correspondence and statements. This will allow you to have a consistently
accurate picture of where your fund is heading.
-Keep your details up to date: The best way to prevent your super from ‘getting lost’ is to make sure
that your fund has your latest contact details.
-Make sure that your super fund has your tax file number (TFN): You may be paying more tax on
your super than you have to. Giving your fund access to your TFN will reduce the likelihood of this
happening.
-Consolidate your funds: If you have worked for a few different employers or airlines it may be that
you have small amounts of super in a few different funds. It’s worth investigating whether you will not
be better off combining these funds into a single super fund. This will make your funds easier to
manage and will, in most cases, reduce the fees and charges you are required to pay. The key
questions you will need to ask before you consolidate funds are: Are you losing valuable insurance
cover by doing so, or if the funds that you belong to charge such high ‘exit fees’ that moving will not
be worth your while.
-Keep a close eye on your fund: It is very important that you carefully read all correspondence from
your fund. This will, among other things, help you understand the investment approach that governs
your fund. You should also benchmark the performance of your fund against that of similar funds. If
you are unhappy with either the investment approach or performance (or both) it might be a good idea
to move to another provider. It is, however, highly recommended that you get professional financial
advice before doing so.

-Keep a close eye on the market and economy: Unless you want a repeat of Ansett, get yourself a good financial adviser who will act for you according to changes in economy, industry and markets. You don’t let an auto-pilot do all the work, so don’t leave your super to an empty cockpit.

-Take control: Consider a self managed superannuation to take control where your money is invested. It may workout much cheaper for you to pay few hundred dollars a year for accounting rather than pay 1%-3% on your balance each year.

Good luck.

To get yourself a good financial adviser, visit the website: http://inkom.com.au/

Only when we step into adulthood do we realize that we were not thought about many things. Unfortunately, the education system does not prepare students to be successful in business and more importantly, in life. Because of this, millions of people are looking up to gurus and experts who claims that they are able guide everyone through their personal and professional lives.

This is where the Brendon Burchard’s Experts Academy takes its spot. It might not yet come into your realization, but you, yourself is an expert. Your life experience is your expertise, as visionary leader, Brendon Burchard believes. You might not be an expert in one area, but maybe you are in another? You might not be so good with studies, but when it comes to fitness and body makeover, you are an expert. You might be great at plumbing, or even in styling hair. Everyone is an undiscovered expert.

The experts academy elite online provides opportunity to anyone to share their expertise, and be identified and regarded as an expert. This is very high in value, and it could even get you highly paid. Today, according to statistics, people had spent over billions of dollars altogether, seeking help from experts.

You are an expert if you:
- Know ways to help reduce the suffering of others, help others to save money, and help others to overcome a certain problem.
- You can help to resolve difficulties faced by plenty of people.
- You have the knowledge to help people strive easily in a certain field, subject or topic.
- You can help others to have a better personal and professional life.
- You have something to provide to people that they can learn from.

So yes, most of you are already experts without even realizing it. The Experts Academy will assist you in finding your inner expert, so you will be able to use your gift and knowledge to help others in need, and perhaps even own your own multi-million business in time. Learn how you too can become a highly paid expert from the Experts Academy Elite Online.

All you need to do is to find out what you know that have value, decide what you want to share with others, and decide on the medium where you want to deliver your massage. The Experts Academy, or the Experts Academy Elite Online will be able to help you from there by establishing you as a published author, lead seminars, become a highly paid speaker, become an online marketer and provide coaching. Learn the principles of success and take the first step today to discover the inner expert in you by enrolling into the Experts Academy.

Frank Johnson has been helping thousands of people succeed, overcoming personal challenges and creating a life of their dreams, as well as finding and living their life purpose with Experts Academy.

Only when we step into adulthood do we realize that we were not thought about many things. Unfortunately, the education system does not prepare students to be successful in business and more importantly, in life. Because of this, millions of people are looking up to gurus and experts who claims that they are able guide everyone through their personal and professional lives.

This is where the Brendon Burchard’s Experts Academy takes its spot. It might not yet come into your realization, but you, yourself is an expert. Your life experience is your expertise, as visionary leader, Brendon Burchard believes. You might not be an expert in one area, but maybe you are in another? You might not be so good with studies, but when it comes to fitness and body makeover, you are an expert. You might be great at plumbing, or even in styling hair. Everyone is an undiscovered expert.

The experts academy elite online provides opportunity to anyone to share their expertise, and be identified and regarded as an expert. This is very high in value, and it could even get you highly paid. Today, according to statistics, people had spent over billions of dollars altogether, seeking help from experts.

You are an expert if you:
- Know ways to help reduce the suffering of others, help others to save money, and help others to overcome a certain problem.
- You can help to resolve difficulties faced by plenty of people.
- You have the knowledge to help people strive easily in a certain field, subject or topic.
- You can help others to have a better personal and professional life.
- You have something to provide to people that they can learn from.

So yes, most of you are already experts without even realizing it. The Experts Academy will assist you in finding your inner expert, so you will be able to use your gift and knowledge to help others in need, and perhaps even own your own multi-million business in time. Learn how you too can become a highly paid expert from the Experts Academy Elite Online.

All you need to do is to find out what you know that have value, decide what you want to share with others, and decide on the medium where you want to deliver your massage. The Experts Academy, or the Experts Academy Elite Online will be able to help you from there by establishing you as a published author, lead seminars, become a highly paid speaker, become an online marketer and provide coaching. Learn the principles of success and take the first step today to discover the inner expert in you by enrolling into the Experts Academy.

Frank Johnson has been helping thousands of people succeed, overcoming personal challenges and creating a life of their dreams, as well as finding and living their life purpose with Experts Academy.

White Magic is something that is all around us. In beauty, life, miracles and most importantly love. When something goes wrong in our life we often turn to something else that will give us a feeling of hope. For some it could be religion and for others it could be magic.

White magic is by sure the best magic around when it comes to all things pure and honest which is one reason why White Magic Spells are used 70% more than other magic spells. This is because either people are either weary of using magic and don’t want anything harmful to happen to them or anyone else or they have used magic before and know how powerful and potent white magic can be.

WhiteWitchSpells has perfected the art of spell casting to manipulate a wide variety of situations in a way where everyone is a winner. Using ancient materials that are directly given to us by nature mixed with ancient white witch spell chants the success is over whelming. This magic also manages to energise, strengthen and calm any situation making the one who has requested the spell a feeling of new born happiness and excitement. With these wonderful vibrations the spell goes to work on all things positive which is why magical events happen and change lives. The same process happens when people choose bad magic or black magic over white magic Spells. This magic can be negative and destroy all good things. The one who requests this magic may have good results at first but will soon see the effects diminish and could also start sliding down a slippery slope where everything starts going wrong and ends in disaster. Using this type of magic is dangerous and should only be used if you know what you are doing and are willing to suffer the consequences.

Magic exists, there is no doubt so if you are considering using it for any reason, stick to White Magic Spells as they are 100% full proof.

To find out more about White Magic, White Magic Spells and White Witch Spells, visit: http://www.whitewitchspells.com

White Magic is something that is all around us. In beauty, life, miracles and most importantly love. When something goes wrong in our life we often turn to something else that will give us a feeling of hope. For some it could be religion and for others it could be magic.

White magic is by sure the best magic around when it comes to all things pure and honest which is one reason why White Magic Spells are used 70% more than other magic spells. This is because either people are either weary of using magic and don’t want anything harmful to happen to them or anyone else or they have used magic before and know how powerful and potent white magic can be.

WhiteWitchSpells has perfected the art of spell casting to manipulate a wide variety of situations in a way where everyone is a winner. Using ancient materials that are directly given to us by nature mixed with ancient white witch spell chants the success is over whelming. This magic also manages to energise, strengthen and calm any situation making the one who has requested the spell a feeling of new born happiness and excitement. With these wonderful vibrations the spell goes to work on all things positive which is why magical events happen and change lives. The same process happens when people choose bad magic or black magic over white magic Spells. This magic can be negative and destroy all good things. The one who requests this magic may have good results at first but will soon see the effects diminish and could also start sliding down a slippery slope where everything starts going wrong and ends in disaster. Using this type of magic is dangerous and should only be used if you know what you are doing and are willing to suffer the consequences.

Magic exists, there is no doubt so if you are considering using it for any reason, stick to White Magic Spells as they are 100% full proof.

To find out more about White Magic, White Magic Spells and White Witch Spells, visit: http://www.whitewitchspells.com

Chess is one of the world’s most renowned games as per the fact that people all over the world are known to play the game on a daily basis. With its birth in southern Europe in the 15th century, chess has quickly adapted to countries such as Asia and North America. The game itself is played between two individuals on a chess board that has 64 squares of both colors black and white. These 64 squares are arranged into 8 columns and 8 rows. Learning how to play chess is a simple task but learning how to play effectively can prove to be a difficult venture which is why schach books have proven to be very beneficial.

When an individual becomes interested in playing schach, there are a wide variety of different methods that can be used to play the game. Whether they are more prone to playing physical matches or if schach online has proven to be more appealing, chess is available to everyone and anyone who is interested. With the wide popularity of this game you can expect that experts can be found within every city in every country. Learning how to play schach like a professional can prove to be more simple with the implementation of chess books. Within chess books you will be enlightened to the various strategies that you can use to beat your opponent with a small amount of moves.

Determining what your favorite and easiest strategies are can be the deciding factor to whether you will win a game of schach or not. When you begin to play within the lower ranks of the game, practicing your new strategies can prove to be more simple but as you progress through the ranks the higher up players will have stronger strategies than you. Luckily, there are a wide array of different chess books available to you to teach beginners the most veteran moves available.

Chess has become one of the most important games in the world with its abundance of mental and physical benefits, there are a copious amount of things to adore about the game. Whether you are a beginner looking to learn new strategies or if you have been playing schach for an extended period of time and are looking to refine your skills, chess books can help you learn new strategies. With the implementation of these books and strategies, winning a schach game is a simple yet fun venture.

To learn more, visit schach along with bridge.

Chess is one of the world’s most renowned games as per the fact that people all over the world are known to play the game on a daily basis. With its birth in southern Europe in the 15th century, chess has quickly adapted to countries such as Asia and North America. The game itself is played between two individuals on a chess board that has 64 squares of both colors black and white. These 64 squares are arranged into 8 columns and 8 rows. Learning how to play chess is a simple task but learning how to play effectively can prove to be a difficult venture which is why schach books have proven to be very beneficial.

When an individual becomes interested in playing schach, there are a wide variety of different methods that can be used to play the game. Whether they are more prone to playing physical matches or if schach online has proven to be more appealing, chess is available to everyone and anyone who is interested. With the wide popularity of this game you can expect that experts can be found within every city in every country. Learning how to play schach like a professional can prove to be more simple with the implementation of chess books. Within chess books you will be enlightened to the various strategies that you can use to beat your opponent with a small amount of moves.

Determining what your favorite and easiest strategies are can be the deciding factor to whether you will win a game of schach or not. When you begin to play within the lower ranks of the game, practicing your new strategies can prove to be more simple but as you progress through the ranks the higher up players will have stronger strategies than you. Luckily, there are a wide array of different chess books available to you to teach beginners the most veteran moves available.

Chess has become one of the most important games in the world with its abundance of mental and physical benefits, there are a copious amount of things to adore about the game. Whether you are a beginner looking to learn new strategies or if you have been playing schach for an extended period of time and are looking to refine your skills, chess books can help you learn new strategies. With the implementation of these books and strategies, winning a schach game is a simple yet fun venture.

To learn more, visit schach along with bridge.