Singing Pig

Landplanningassociates:

Why don't you buy an aeroplane Clottie? It should make it much easier. You can get your hands on a Spitfire for around £500,000 I'm told. Now there's a real aeroplane ! But you need to weave from side to side when you taxi because you can't see past its huge nose pointing skywards at about 35 degrees.

 

Buying a plane isn't necessarily a bad financial decision, if you are going to fly anyway (and rent one when you do).

My partner bought his plane for £26k before he started to learn to fly. When he's not using it, it's rented out to other people. He can reserve it for his own use whenever. Planes are better flown more often, as some problems arise when they are unused. And it's maintained to a commercial standard, as it's rented out.

 Overall, including saving for the regular replacements every X hours, and on-going maintance costs, he's well in profit. The tax rules for owning planes are ludicrously generous.
 

Landplanningassociates:

"

wiganer  """My problem is that I've been too trustworthy in the past, and expected people to act with the same integrity and ethics that I have.""

Too trusting ?  Oh yes, tell me about it ! ! !

 

In my mind, it's worth getting ripped off once in a while rather than going through life thinking everyone you ever meet is a scam artist, etc.  

Hmm   My problem is I trust folks until they prove otherwise,  just had to set my Partner (the accountant) onto someone with a big stick,  they paid once they got word the bailiffs were coming though.

We always pay our bills, so why should someone take us for a few £££,   as mentioned there is no integrity or ethics nowadays sadly.

As for the aircraft,   buy one you won't regret it,  ours keeps My Partner out of trouble for hours and you can get about a lot quicker than by road,  and theres probably some financial benefits too,  which I am sure she knows about.

Cheers

BBB 

 

What an interesting thread :)

 Regrets - not too many, I am happy with life and where I am going.  If I have any regret it is that I did not get straight into accountancy and business after leaving Uni, but went into IT instead and effectively wasted 10 years.  (I did a joint degree in Computer Science and Business Studies, to explain that strange choice!)

 Actually though, that's not a fair assessment ... I have done well in IT and it's given me the chance to set up a Ltd Co, get some cashflow behind me and paid me through my AAT.  I do wonder where I would have been if I had gone straight with what I loved rather than the quick money option, but I guess the answer is that I wouldn't have been the person I am now and I would have missed some valuable lessons.  All being well I will see my last Microsoft book in 9 months time and get chance to do more with proeprt yand work on my MBA and tax exams :)

 

What an interesting thread :)

 Regrets - not too many, I am happy with life and where I am going.  If I have any regret it is that I did not get straight into accountancy and business after leaving Uni, but went into IT instead and effectively wasted 10 years.  (I did a joint degree in Computer Science and Business Studies, to explain that strange choice!)

 Actually though, that's not a fair assessment ... I have done well in IT and it's given me the chance to set up a Ltd Co, get some cashflow behind me and paid me through my AAT.  I do wonder where I would have been if I had gone straight with what I loved rather than the quick money option, but I guess the answer is that I wouldn't have been the person I am now and I would have missed some valuable lessons.  All being well I will see my last Microsoft book in 9 months time and get chance to do more with property and work on my MBA and tax exams :)

 

What an interesting thread :)

 Regrets - not too many, I am happy with life and where I am going.  If I have any regret it is that I did not get straight into accountancy and business after leaving Uni, but went into IT instead and effectively wasted 10 years.  (I did a joint degree in Computer Science and Business Studies, to explain that strange choice!)

 Actually though, that's not a fair assessment ... I have done well in IT and it's given me the chance to set up a Ltd Co, get some cashflow behind me and paid me through my AAT.  I do wonder where I would have been if I had gone straight with what I loved rather than the quick money option, but I guess the answer is that I wouldn't have been the person I am now and I would have missed some valuable lessons.  All being well I will see my last Microsoft book in 9 months time and get chance to do more with property and work on my MBA and tax exams :)

Someone tell me more about owning and renting out a plane!   ... although my husband is speaking hopefully about doing the same with a boat   There's a couple for the 5 year plan!

to get a pilots license you need to do a minimum of 45 hours training  (if you are over 30 this could be much more - if you are "mature" this could double or even triple )!!!   you have to pass 7 written exams, a 3 hour flying test, and a practical radio exam.  current costs are around £150 an hour and rising fast with fuel costs.

 

many new pilots buy a share in a plane  1/4   1/6  1/12  depending on the number of folks in the syndicate   from £5-8k  to  £20k depends on the aircraft - then your hire rates can be half of what you would pay for private hire from a flying school 

That's great thanks Clottie - you are a mine of information about all sorts of surprising things!  I didn't know that you did flying - what a great hobby!