Re: What would you buy with a 50k budget?

On Sun, 18 May 2008 11:27:48 -0700, "RST Engineering"
<jim@[EMAIL PROTECTED]
> wrote:

>Horsefeathers.  I just looked in the latest Trade-A-Plane with its
somewhat 
>inflated prices and you can get a '56 172 with a 700 hour engine for
$27.5 
>and that's the ASKING price.  A '59 for $29.5.  A '59 Tripacer for $27. 
A 
>'53 for $19.5.  A '64 Cherokee 140 for for $24.9 and another one for
$24.9.

I have seen those ads, but from the reading I have done I am getting
the impression that we would need perhaps 15k to 20k in cash lying
around for any used airplane that we purchase plus the down payment.
On a monthly basis we could easily afford the payments on a ten year
note for a 50k aircraft and be able to afford the fuel, but that
reserve cash for those never ending maintenance items is not readily
available to us and is the deal breaker right now. One or our
considerations is to take out signature loans of about 8k to 10k each
but not sure yet if that is really an option. I think the best thing
right now is to quit renting / flying for the next two years and put
as much as I can afford each month into a purchase fund. Perhaps then,
I can treat myself to a 1/2 partner****p in a reasonably sound XC
aircraft when I turn 57. All the while though we will keep our medical
current... FAA willing.

>My hit on it is that you wanted a reason to stop flying and the idiots in

>this ng gave you that reason.
>
>Jim

I have never wanted to stop flying, ask my wife. She is tired of
hearing about it constantly, but she doesn't understand what it means
to me. All she wants is the boat and couldn't care less about flying
in a single engine spam can. Next year the boat will be paid for. Then
I can put a few more dollars away for another year. After that it will
be MY turn. But there are so many variables that can pop up over a 2
year period that we have no control over. Just gotta keep our fingers
crossed.

But two years go by very quickly at this age. My pilot friend and I
only hope we will be able still fly into our eighties (if we make it
that far) as Bob Hoover was able to do. Maybe then we will consider
ourselves adequate pilots.

Kirk