Category: Kevin

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Kevin Pilot Money Guys Pilots Rental Real Estate Video

The Pilot’s Guide to Passive Real Estate Investing: What "Passive" Really Means


In this video, Kevin Gormley from Leading Edge Financial Planning dives into the concept of "passive" real estate investing, breaking down the realities behind the word "passive" in different scenarios. We'll cover what passive income truly means, particularly in rental real estate.

Kevin examines the distinctions in "passive" effort between three real estate approaches: hands-off investments, real estate with a property management company, and direct management without help from a property management company. He explains the tax implications, including the IRS’s definition of passive income and the impact on your taxes. Kevin also explores opportunity costs and time investment—what you’re really trading when investing in real estate. This video offers valuable insights for pilots interested in real estate to help you decide if it’s the right fit for your lifestyle.

Gina Roth interview referenced: Flight #52: Real Estate Investing with Gina Roth (youtube.com)

Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk and there can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this video will be profitable, equal any corresponding indicated historical performance level(s), or be suitable for your portfolio. Moreover, you should not assume that any information or any corresponding discussions serves as the receipt of, or as a substitute for, personalized investment advice from Leading Edge Financial Planning personnel. The opinions expressed are those of Leading Edge Financial Planning and are subject to change at any time due to the changes in market or economic conditions

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Education Kevin Pilots Video

United Airlines Benefits Open Enrollment: Key Health Insurance Options Explained

Join Kevin Gormley, CFP®, CPA and Andy Christopher, CFA from Leading Edge Financial Planning as they explore the upcoming open enrollment period for health insurance. The fall season means it’s time for United pilots to review their health plans for the upcoming year. Many individuals stick to last year’s choices without reevaluating their options, but this discussion aims to encourage informed healthcare decisions.

They break down essential terms like premiums, deductibles, co-pays, and co-insurance, emphasizing their significance in personal financial planning. The conversation also covers various health insurance plans for United pilots, including Health Savings Accounts (HSAs), Preferred Provider Organizations (PPOs), and Exclusive Provider Organizations (EPOs), as well as early retirement options and supplemental coverage as pilots transition to Medicare.

If you're a United pilot or considering your healthcare options, this episode is packed with valuable information to help you navigate the complexities of health insurance open enrollment.

Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk and there can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this video will be profitable, equal any corresponding indicated historical performance level(s), or be suitable for your portfolio. Moreover, you should not assume that any information or any corresponding discussions serves as the receipt of, or as a substitute for, personalized investment advice from Leading Edge Financial Planning personnel. The opinions expressed are those of Leading Edge Financial Planning and are subject to change at any time due to the changes in market or economic conditions

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Kevin Pilots

A Pilot's Guide to Real Estate Investing

Pilot's Guide to Real Estate Investing: Tax Benefits & Wealth Building

Kevin Gormley, CFP®, CPA presents a comprehensive overview of Real Estate Investing specifically tailored for pilots and their families. Discover why many pilots are drawn to real estate, including the potential for tax savings, passive income, and long-term wealth generation. Kevin discusses the risks and rewards of real estate investing, providing valuable insights into expected returns, market research, and the importance of informed decision-making. Whether you're considering your first investment or looking to diversify your portfolio, this guide can equip you with the knowledge you need to navigate the real estate market effectively.
 


Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk and there can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this video will be profitable, equal any corresponding indicated historical performance level(s), or be suitable for your portfolio. Moreover, you should not assume that any information or any corresponding discussions serves as the receipt of, or as a substitute for, personalized investment advice from Leading Edge Financial Planning personnel. The opinions expressed are those of Leading Edge Financial Planning and are subject to change at any time due to the changes in market or economic conditions

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Education Kevin Retirement

One Reason To Invest in Roth NOW

Tax Changes Ahead: Why Invest in a Roth IRA Now

Kevin Gormley, CFP®, CPA discusses upcoming changes in tax policy that may affect your retirement investment strategy. With the expiration of the Tax Cuts and Jobs Act on January 1, 2026, the tax landscape is set to shift significantly, potentially resulting in higher taxes for many individuals.  Kevin outlines key strategies for investing in Roth IRAs, Roth 401(k)s, and utilizing “Backdoor” Roth conversions. He emphasizes the importance of considering these options, especially if you're in your 60s and have substantial funds in traditional IRAs or 401(k)s. This discussion offers valuable insights into how these strategies may help you minimize your tax burden and maximize your retirement savings.  Please note, Roth investments and conversions can potentially affect your taxes in the current year. Consulting a tax professional is essential before implementing this strategy.

Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk and there can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this video will be profitable, equal any corresponding indicated historical performance level(s), or be suitable for your portfolio. Moreover, you should not assume that any information or any corresponding discussions serves as the receipt of, or as a substitute for, personalized investment advice from Leading Edge Financial Planning personnel. The opinions expressed are those of Leading Edge Financial Planning and are subject to change at any time due to the changes in market or economic conditions

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Kevin Retirement

Not Your Parents Long Term Care Insurance

Not Your Parents Long Term Care Insurance

Understanding Long-Term Care Costs:

New Insurance Options

Kevin Gormely, CFP®, CPA and Todd Russell CFP®, President of Private Client Strategies, LLC dive into the evolving landscape of long-term care insurance and its critical role in financial planning. With rising healthcare costs and the increasing desire to age in place, understanding the new generation of long-term care products is essential.They explore the financial risks associated with long-term care, discuss how these costs can impact your savings, and explain how modern insurance policies can help mitigate some of these risks. Whether you're planning for yourself or loved ones, this discussion offers valuable insights into making informed decisions about long-term care.

Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk and there can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this video will be profitable, equal any corresponding indicated historical performance level(s), or be suitable for your portfolio. Moreover, you should not assume that any information or any corresponding discussions serves as the receipt of, or as a substitute for, personalized investment advice from Leading Edge Financial Planning personnel. The opinions expressed are those of Leading Edge Financial Planning and are subject to change at any time due to the changes in market or economic conditions.

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Education Kevin Pilot Money Guys Pilots Retirement Uncategorized Video

United Pilots: RHA & Healthy Fear of Healthcare Costs

Kevin Gormley, CFP®, CPA and Andy Christopher, CFA and Lead Financial Planner, discuss the intricacies of Health Reimbursement Accounts (HRA) and Retiree Health Accounts (RHA), exploring how to determine the optimal amount to save for future healthcare costs in retirement. They break down the advantages and limitations of these accounts, provide mental models for effective saving, and offer practical tips for United pilots.

Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk and there can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this video will be profitable, equal any corresponding indicated historical performance level(s), or be suitable for your portfolio. Moreover, you should not assume that any information or any corresponding discussions serves as the receipt of, or as a substitute for, personalized investment advice from Leading Edge Financial Planning personnel. The opinions expressed are those of Leading Edge Financial Planning and are subject to change at any time due to the changes in market or economic conditions.

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Charlie Education Kevin Pilot Money Guys Pilots Retirement

Southwest Airlines Market Based Cash Balance Plan

SWA Market-Based Cash Balance Pension Plan (MBCBP) Tips and Techniques

Below is an overview of the topics we cover in the video:

• Market-Based Cash Balance Plan basics

• Why do we love it? 

• How to max out the MBCBP 

• How to minimize your 401k spillover if you do not want more MBCBP. 

• How to use the potential MBCBP tax savings to contribute more Roth to your retirement savings.

Leading Edge is not affiliated with Southwest Airlines.  This is informational only.  Please refer to the Southwest Airlines Pilot contract for further information.

Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk and there can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this video will be profitable, equal any corresponding indicated historical performance level(s), or be suitable for your portfolio. Moreover, you should not assume that any information or any corresponding discussions serves as the receipt of, or as a substitute for, personalized investment advice from Leading Edge Financial Planning personnel. The opinions expressed are those of Leading Edge Financial Planning and are subject to change at any time due to the changes in market or economic conditions.

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Education High Income Kevin Pilot Money Guys Pilots

Live like a Multi-Millionaire Pilot: 7 Action Steps for Success

Live Like A Multi-Millionaire Pilot: 7 Action Steps For Success

Dreaming of a multimillion dollar nest egg? Kevin Gormely, CFP®, CPA shares 7 practical actions pilots can take to significantly increase their chances of achieving financial freedom. Learn valuable tips like maximizing retirement contributions, understanding healthcare costs, and creating a strategic savings plan. The video is inspired by the wisdom of Charlie Munger, who emphasizes consistent smart financial decisions over chasing high returns. Forget the "when I get rich" fantasies and start building your wealth today!

Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk and there can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this video will be profitable, equal any corresponding indicated historical performance level(s), or be suitable for your portfolio. Moreover, you should not assume that any information or any corresponding discussions serves as the receipt of, or as a substitute for, personalized investment advice from Leading Edge Financial Planning personnel. The opinions expressed are those of Leading Edge Financial Planning and are subject to change at any time due to the changes in market or economic conditions.

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Charlie Education Kevin Pilots

United Airlines Pilot Long Term Disability Explained

United Airlines Long Term Disability

Kevin Gormley, CFP® Andy Christopher, CFA® , lead financial planners from Leading Edge Financial Planning, discuss the details of the long-term disability plan offered by United Airlines.

The key takeaways from the video are:

  • The long-term disability benefit pays out 50% of your pay until you reach age 65, which is the mandatory retirement age for pilots.
  • The benefit is tax-free.
  • The company pays for 75% of the premium, with the remaining 25% being paid by the pilot after tax. There is a cap on the monthly benefit amount.
  • The plan offers some additional benefits such as continued health insurance coverage at the active pilot rate and non-elective contributions to your 401k plan.
  • There are different waiting periods depending on whether the disability is occupational or non-occupational.
  • Pilots who are considering additional coverage on top of the United Airlines long-term disability plan can look into options offered by ALPA.

Kevin and Andy recommend that pilots carefully consider their options and do some budgeting to see if the 50% benefit will be enough to cover their expenses in the event of a disability. They also recommend having an emergency cash fund on hand to supplement the disability income.  

 

Note: Leading Edge Financial Planning is not affiliated with United Airlines.  This video is informational only.  Please consult an expert before making a decision.

Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk and there can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this video will be profitable, equal any corresponding indicated historical performance level(s), or be suitable for your portfolio. Moreover, you should not assume that any information or any corresponding discussions serves as the receipt of, or as a substitute for, personalized investment advice from Leading Edge Financial Planning personnel. The opinions expressed are those of Leading Edge Financial Planning and are subject to change at any time due to the changes in market or economic conditions.

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Charlie Kevin Video

Retirement: Everything is Different Now!

Retirement

You may be the type of person that enjoys managing your own investments.  And there’s nothing wrong with that.  However, as you approach or are in retirement things can be very different.  In fact, when your investment goal switches from accumulation to producing retirement income it may seem as though everything is different now!  

 

In this video, Kevin explains why managing your own investments is different when you are retired, and why a fiduciary financial planner may be worth the investment.  

 

Key Points:

We believe a globally-diversified investment approach is still the best plan for capturing positive returns in the long run. Furthermore, chasing the top-performing asset classes and changing your portfolio based on news headlines or current events has been shown to produce lower returns over the long run.  In other words, if you find yourself wanting to change your portfolio as soon as investment headlines turn negative, having a fiduciary financial planner may help you stay focused on your goals instead of abandoning your investment plan during a downturn.  

 

Whether you manage your investments yourself or you have a trusted advisor, here are three things everyone should do to increase your chances of success in retirement.  

  1. Write down an Investment Policy Statement to help you stay focused on your investment goals when everything in the news is negative.
    • For example; “I will invest this way to reach my goals in retirement….”
  2. Be careful chasing the high performing asset classes.
    • A diversified portfolio should stay diversified.
  3. Have someone who will hold you accountable in order to help you focus on your long-term goals when the going gets tough.

 

We appreciate your feedback! Please leave a comment on the video or reach out at https://www.leadingedgeplanning.com/ if you have any thoughts on the video!

Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk and there can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this video will be profitable, equal any corresponding indicated historical performance level(s), or be suitable for your portfolio. Moreover, you should not assume that any information or any corresponding discussions serves as the receipt of, or as a substitute for, personalized investment advice from Leading Edge Financial Planning personnel. The opinions expressed are those of Leading Edge Financial Planning as of 10/31/2020 and are subject to change at any time due to the changes in market or economic conditions.