American Airline Pilots

What options are available to a pilot if they do not save enough for retirement? While most employees in other occupations can delay retirement and continue to work, this is not an option for pilots because of their "hard" date to retire. As you know, the FAA makes it mandatory for pilots to retire from commercial flying at age 65. Due to this work restriction, properly planning and saving for your retirement is critical so you do not outlive your assets. 

Luckily, American Airlines pays a generous defined contribution into your AA Pilot 401(k) Plan. While the amount contributed towards your 401(k) is important, security selection is equally, if not more, important.

At Griffin Financial Advisors, we have a solution for security selection. It is called BrokerageLink offered through Fidelity. BrokerageLink is a self-directed brokerage account through your 401(k) that allows you to invest in a much wider range of investments. You are no longer limited to the "core" investment options offered within the plan. 

The benefits of investing through BrokerageLink include: 

• Personalized investments that can better match your goals and risk tolerance.
• Access to over 14,000 mutual funds, ETF’s, stocks, bonds, and alternative investments. 
• Increased diversification that may reduce risk and potentially result in greater returns.
• Ongoing market updates and rebalancing recommendations. 
• Pilot/Advisor partnership. The AA Pilot's Plan allows limited trading authority on BrokerageLink accounts. 

Griffin Financial Advisors specializes in assisting pilots achieve their retirement goals. We are very familiar with the specifics within your pilot contract. Allow us to help you navigate maximizing your contribution limit, after-tax in-plan conversions, Health Savings Account (HSA) investments, profit sharing and much more. Please feel free to contact us with any questions or concerns regarding your retirement.