Welcome to this week’s edition of Wisdom and Wealth! You can check out the podcast and YouTube video for this edition below! Thank you for reading, listening, and watching!
Our focus is primarily on private wealth management and financial planning, however, we also from time to time invite guests to the show who are niche experts that can add value. Today is no exception as I’ve invited a friend of my Jared Hasty, who Co-Founded Piedmont Jets to share how he helps clients acquire, sell and utilize their private aircraft.
If you are wondering if exploring private aviation is right for you, please check this conversation out. Given his background, Jared takes on an educational approach and makes sure you are set up for success. I’ve hit the high points below of what our conversation covers. If anything stands out please give it a listen and reach out with further questions!
Financial Considerations: Purchase vs Fractional Lease
- What is your mission? What is your need?
- Dip your toe in, start out by chartering and explore what works best for you.
- At 125 hours it starts to make more financial sense to purchase
No Going it Alone: Have a Team
- Have the right expectations
- Hire the right team, Management team (Logistics), Legal, Accounting and Maintenance etc.
- Don’t Cut Corners!
Should You Charter / Lease When not using
- It’s all about preference. If you don’t mind others using your resource, go for it!
- It can actually be good for your plane if you aren’t using it enough!
Thank you Jared for coming on the podcast!
Connect With Josh Klooz, CFP®, MBA, Wealth Advisor
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