Tim hosts Dylan and Max from the 21. Five Show in this episode. Dylan and Max reflect on their experiences during various aviation downturns, spanning their 20-year careers. Max shares his proactive approach to mitigating career risks by diversifying his skill sets. Dylan talks about getting laid off right before his wedding and emphasizes the necessity of maintaining an emergency fund to weather unforeseen challenges. They caution against making long-term financial commitments at the peak of prosperity, urging newcomers to exercise restraint and avoid overextension. Dylan highlights the value of networking and building relationships within the aviation community, emphasizing its role as a safety net during career turbulence.
What You'll learn from this episode:

• Why an emergency fund is an important foundation to your financial plan
• What should your emergency fund target be based on your family’s income and industry facts
• Can you have too much or too little cash and how to reconcile your risk tolerance and your risk capacity
• How networking can have a direct impact on your financials
• Why diversifying beyond retirement accounts can help stabilize your finances during a down-turn

Resources
21.Five Podcast
21.Five Show LinkedIn Page
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Timothy P. Pope is a Certified Financial Planner™and principal owner of 360 Aviation Advisors, LLC (“360 Aviation Advisors”), a registered investment advisory firm. Investment advisory services are provided through 360 Aviation Advisors, in its separate and individual capacity as a registered investment adviser. Podcast episodes are provided through Pilot’s Portfolio, in its separate and individual capacity.

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