This is the Golden Age of Aviation

[denverpilot]

But the topic was about whether or not it is the 'golden age of aviation', not someone asking for investment advice or whether or not they should finance. Not sure how we got there, but we often do.

That guy I can excuse.

Oh true. Someone spoke or whether or not the whole world could afford airplanes, paraphrased of course. LOL.

They can’t. But we do still enjoy the vast majority of the planet’s recreational aviation here by a huge margin.

First world problems as they say. Most of us here won’t starve if our airplane habit bankrupts us.

Think the real trick is to time the bankruptcy for the instant the heart stops for some, others want to leave some sort of legacy behind after they’re checking out whatever is next.

Kinda hard to do either without a plan. And no plan survives first contact with the enemy.

But the simplest plans usually work best.

Kinda like fad diets. Isn’t one of them that doesn’t boil down to “eat less and exercise more”.

Money. The first principle of making it, is earn some. Second is, don’t spend it all. Third is, never pay more for something than you have to.

The rules never change. Just the schemes that don’t work. Haha. Like the fad diets. It’ll work for a little while. If it doesn’t follow the base rules, or you don’t, you’ll be fat again soon. Heh.

Excitement only goes so far. Buckle up for boring and methodical and focused and the fads come and go while real progress is made.

Diet analogy breaks though at risk. Life throws fiscal hand grenades at everybody. It usually doesn’t throw fat grenades. Hahaha.

Anywhoo. Don’t really care if it’s the golden age, either I can go flying or I can’t. Right now I can’t but that’s a personal circumstance. Most here can. They might have to cut cable and drive an old car. Not too bad a time to be alive.

I’m sure someone enjoyed the seventies more with the oodles of shiny new stuff being delivered out of Wichita, but that was long over with by the time I started flying, so I never knew I was supposed to miss it until the early internet told me.

I know I’m not buying a new Cirrus anytime soon! Haha.

If presented with the usual way to analyze sunk costs — if you had the pile of money you’ve spent on it, sitting on the table in front of you, would you spend it again?

Yep. Sure would.

Can’t say that about all of my hobbies. And definitely not about any of the three Ford trucks I’ve owned!

Got the third one back from the shop again today. Pretty much every component of the brake system is new. Since it’s a Ford, should last about three months. Hahaha.

Will this really be the last time I make that same fiscal mistake or will there be a fourth Ford someday?

I’m rooting for me but three times stupid shows a pattern of co-dependence that may never be broken. ROFL!!!

 

[Everskyward]

Oh true. Someone spoke or whether or not the whole world could afford airplanes, paraphrased of course. LOL.

They can’t. But we do still enjoy the vast majority of the planet’s recreational aviation here by a huge margin.

First world problems as they say. Most of us here won’t starve if our airplane habit bankrupts us.

Think the real trick is to time the bankruptcy for the instant the heart stops for some, others want to leave some sort of legacy behind after they’re checking out whatever is next.

Kinda hard to do either without a plan. And no plan survives first contact with the enemy.

But the simplest plans usually work best.

Kinda like fad diets. Isn’t one of them that doesn’t boil down to “eat less and exercise more”.

Money. The first principle of making it, is earn some. Second is, don’t spend it all. Third is, never pay more for something than you have to.

The rules never change. Just the schemes that don’t work. Haha. Like the fad diets. It’ll work for a little while. If it doesn’t follow the base rules, or you don’t, you’ll be fat again soon. Heh.

Excitement only goes so far. Buckle up for boring and methodical and focused and the fads come and go while real progress is made.

Diet analogy breaks though at risk. Life throws fiscal hand grenades at everybody. It usually doesn’t throw fat grenades. Hahaha.

Anywhoo. Don’t really care if it’s the golden age, either I can go flying or I can’t. Right now I can’t but that’s a personal circumstance. Most here can. They might have to cut cable and drive an old car. Not too bad a time to be alive.

I’m sure someone enjoyed the seventies more with the oodles of shiny new stuff being delivered out of Wichita, but that was long over with by the time I started flying, so I never knew I was supposed to miss it until the early internet told me.

I know I’m not buying a new Cirrus anytime soon! Haha.

If presented with the usual way to analyze sunk costs — if you had the pile of money you’ve spent on it, sitting on the table in front of you, would you spend it again?

Yep. Sure would.

Can’t say that about all of my hobbies. And definitely not about any of the three Ford trucks I’ve owned!

Got the third one back from the shop again today. Pretty much every component of the brake system is new. Since it’s a Ford, should last about three months. Hahaha.

Will this really be the last time I make that same fiscal mistake or will there be a fourth Ford someday?

I’m rooting for me but three times stupid shows a pattern of co-dependence that may never be broken. ROFL!!!

Yes, most of us here on the board are pretty lucky. As you said, first world problems. I was lucky enough to have made much, much, more than I spent on flying. I could still do it, but I have decided to do other things. Of course those other things are a bit limited right now.

 

[kayoh190]

I feel like it's a lot harder to be an airport bum these days. Maybe it's just nostalgia, but when I was younger most airports seemed a lot more accessible for hanging out, talking to pilots and getting to sit in airplanes, etc. Guess it's a function of security theatre from 9/11 and the slow decline in (recreational) GA activity, but it's a bummer nonetheless. I know there are still a couple of pockets where this still exists, but overall I think GA has become much less inviting to casual interest.

 

[Snowmass]

I don’t know about “financially smart.” Financing something like an airplane or a boat is not smart in my perception. If financially smart means you have squirreled away enough money to write a check for it then, yeah that’s financially smart.

Right on. People lose almost all their assets because they can't deal with postponed gratification. This happened to so many of my friends at the last economic down turn and it's happening right now with the pandemic.

 

[Pugs]

I feel like it's a lot harder to be an airport bum these days. Maybe it's just nostalgia, but when I was younger most airports seemed a lot more accessible for hanging out, talking to pilots and getting to sit in airplanes, etc. Guess it's a function of security theatre from 9/11 and the slow decline in (recreational) GA activity, but it's a bummer nonetheless. I know there are still a couple of pockets where this still exists, but overall I think GA has become much less inviting to casual interest.

Agreed and I don't think we can count on the flight schools to do that outreach and welcoming. One of my flying club members and I were chatting the other day about an FBO at a nearby airport that had two instructors and a front desk person completely ignore him for 10 minutes while they had their conversation. He turned around and walked out to another airport. That airport remains pretty much dead to GA.

Belonging to two clubs, one in Gaithersburg MD and one in Frederick MD the two airports should be very similar. Lots of active GA, some decent business traffic, nice diners on both fields and both should have a great airport culture.

GAI though has locked gates to keep people away that don't have the gate codes. No one hangs out at their hangars much. Perhaps the gates are because it's TSA run amuck as it's inside the capital SFRA. Fredrick on the other hand has no gates and on a Saturday afternoon of good weather there are usually at least 6-8 hangars open and a couple will have chairs and a BBQ going. It's a vibrant community.

Airport open houses would be great and I think schools/FBOs would be wise to look at doing some of that at their unending stream of students wanting to be airline pilots is going to be scant for a bit and perhaps some reemphasis on us recreational types who do it for the love of aviation would help fill that gap. Post-covid perhaps EAA chapters can team with FBOs?

 

[Snowmass]

I assume that we are talking GA. As someone that has actually experienced GA starting in 1952 I would not say this is NOT the golden age. I bought my first plane, an Aeronca Chief in good condx, for $500. AVGAS 80 was about the same price as MOGAS because you got a tax refund on AVGAS (cuz you didn't use the highways). And my Aeronca got 23 MPG when cars got 16 MPG. I paid my instructor $3/hour. I flew this plane into LAX no radio (light from tower) and no fees. In 1963 bought we a new C-210 for $25K. Adjust the prices to constant dollars, about a factor of six. Imagine buying a new C-210 (you could use a C-206 as a guide) for $150K. Now that's a golden age. OK no GPS but maps, compasses, clocks, pilotage and ADFs do work, really).