I'm watching another meltdown of the financial markets today and while I understand the "don't panic" mantra that leads to the "do nothing" approach, the "do nothing approach" does nothing for the future when you get to be my age. Retirement isn't that far off, or so I thought.
So far this year, I'm down $80,000 in the retirement account. I know for a lot of you pilot-types, that's walking-around money. For me, it's real dough. Coupled with the losses of the last few years, and the fact that since this particular administration took office the economy has been a disaster, some of its own making, some not -- I'm now faced with the very real prospect of not being able to retire in anything near a comfortable level.
In this environment, how can I justify soaking money into an experimental airplane project?
My RV-7A has 1,800 invested in it. A new IO-360 Mattituck engine is sitting in the box. The canopy is about done. There's little wiring done yet. STrobe system, a PS Engineering intercom (the four-place simple one), Artex new 406 mhz ELT, ICom A-210 are sitting in boxes. The TruTrak one-axis autopilot is installed. It's up on the landing gear although I haven't set the breakout force of the wheel yet.
I've probably got $45,000-$50,000 invested in it with the engine and as you know, I've loved this project like a child.
But given the events of the last few months, I don't see how I can't listen if someone is interested in making an offer.
However, if you're just bottom-feeding looking for a sucker, move along. I'm really looking at mere survival here.