23 Jun 2025, 19:28 [ UTC - 5; DST ]
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Post subject: Re: If the Mustang does your mission, it's darn near perfect  Posted: 11 May 2025, 13:40 |
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Joined: 12/03/14
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Username Protected wrote: Curious how far apart the median and mean numbers are, in most populations of aircraft owners, there are probably some extreme outliers. If Warren Buffet owned one SR22, what would that do to the mean? Buffet's net worth $160B. Total SR22 sales 8300 units. That would be average of $19.3M if everybody else who owned an SR22 was totally broke. "Average" is one of those stats which is often highly misleading. Median is very often much more informative, especially when dealing with variables that can have a few high extreme values. If Buffet bought a second one, the average net worth of owners would double! Mike C.
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Post subject: Re: If the Mustang does your mission, it's darn near perfect Posted: 11 May 2025, 13:52 |
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Joined: 12/24/17
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I bet the actual median net worth is probably under $1MM. We don't have a savings culture in the country.
If a meaningful figure for SR22 owners would be that high, I would be very scared for GA. So maybe it's time to be scared! It used to be that average income earners would not only be able to easily afford a house, they might also own a nice piston twin. If you now have to be a multimillionaire in order to own a simple piston single, I'd be very afraid.
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Post subject: Re: If the Mustang does your mission, it's darn near perfect Posted: 11 May 2025, 14:01 |
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Joined: 05/23/13
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Location: Franklin, TN 615-739-9091 chip@jetacq.com
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Username Protected wrote: I bet the actual median net worth is probably under $1MM. We don't have a savings culture in the country. I certainly hope that isn’t accurate. My net worth is north of $1MM and I am NOT in the market to buy a new Cirrus! But, yes a lot of folks went the highly leveraged route to create wealth, so I guess it is possible…
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Post subject: Re: If the Mustang does your mission, it's darn near perfect Posted: 11 May 2025, 15:49 |
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Joined: 11/30/12
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Username Protected wrote: Curious how far apart the median and mean numbers are, in most populations of aircraft owners, there are probably some extreme outliers. If Warren Buffet owned one SR22, what would that do to the mean? Mike C.
Buffett (two Ts) doesn't own one.
I would bet the median and mean net worths of owners are within $2M of each other.
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Post subject: Re: If the Mustang does your mission, it's darn near perfect Posted: 11 May 2025, 16:02 |
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Joined: 12/24/17
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Username Protected wrote: I bet the actual median net worth is probably under $1MM. We don't have a savings culture in the country. I certainly hope that isn’t accurate. My net worth is north of $1MM and I am NOT in the market to buy a new Cirrus! But, yes a lot of folks went the highly leveraged route to create wealth, so I guess it is possible…
There's a difference between generations. Older generations (and yes, those might be more likely to own planes) save a lot more. The younger generations born in the 80s and onward, who are relatively high earners with household incomes of $500k+, don't save nearly as much.
I know many of them. Many (most, probably) barely have a $1MM saved away, in spite of owning several cars, a house, a cabin in the mountains, and possibly a SR22.
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Post subject: Re: If the Mustang does your mission, it's darn near perfect Posted: 11 May 2025, 19:23 |
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Username Protected wrote: I bet the actual median net worth is probably under $1MM. There is a big difference between $1M net worth and having $1M discretionary funds. Net worth includes retirement accounts, real estate value, material goods, and, yes, discretionary funds. The Fed estimates 12% of all households in the US have a net worth exceeding $1M. That is about 12 million households give or take. I am quite certain the vast majority of SR22 owners have net worth over $1M. Mike C.
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Post subject: Re: If the Mustang does your mission, it's darn near perfect Posted: 11 May 2025, 19:30 |
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Username Protected wrote: I would bet the median and mean net worths of owners are within $2M of each other. We got no data on SR22 owners, so your bet is safe. It doesn't take many individuals to wildly separate mean and median net worth. For example, the mean house hold net worth in the USA is $1.06M, while the median is $193K. More than a 5 to 1 ratio. Some notable SR22 owners, at one time or another: Angelina Jolie, Tim McGraw, Ken Griffey, Jr., Brad Pitt. People like that will skew mean versus median quite a lot. Mike C.
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Post subject: Re: If the Mustang does your mission, it's darn near perfect Posted: 11 May 2025, 19:32 |
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Username Protected wrote: I bet the actual median net worth is probably under $1MM. What are we betting? I'm in!  . Chip-
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Post subject: Re: If the Mustang does your mission, it's darn near perfect Posted: 11 May 2025, 20:12 |
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Joined: 09/20/14
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Username Protected wrote: Dierks Bentley. One of my friends has a brand new PC12NGX and one if the first PC12 pro positions, as well as an M600. But recently sold his Cirrus. There is some crazy money over there at COPA. I am one that brought the average down. At least after my divorce. My ex got the equivalent of a lightly used P300.   Ouch, sorry to hear that Chuck. I spent a little time hobnobbing with the COPA people at Osh a few times before I converted my brother from SR-22 to A-36, and I'd agree. There be some deep pockets over there.
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Matt Beckner
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Post subject: Re: If the Mustang does your mission, it's darn near perfect Posted: 11 May 2025, 22:09 |
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Username Protected wrote: It’s entirely realistic that fuel to FL410 would be reduced enough to provide 100 miles of cruise. That would only be 150 lbs of fuel. The winglets will probably weigh about that. They have not come with a gross weight increase so I wouldn't expect one for the Mustang STC. The Mustang is not blessed with a lot of useful load with full fuel. Mike C.
Says who? There’s over 800 pounds of useful load with full fuel. That’s 4 adults, luggage and 1000 nm. Thats pretty dam good in my book, and definitely far better than any of my previous aircraft. I didn’t transition into the Mustang to haul around 10 passengers. I’ve said it before, but it is crazy how misrepresented the Mustang is.
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Tony
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Post subject: Re: If the Mustang does your mission, it's darn near perfect Posted: 12 May 2025, 08:46 |
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Joined: 01/12/10
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Username Protected wrote:
Says who? There’s over 800 pounds of useful load with full fuel. That’s 4 adults, luggage and 1000 nm. Thats pretty dam good in my book, and definitely far better than any of my previous aircraft. I didn’t transition into the Mustang to haul around 10 passengers. I’ve said it before, but it is crazy how misrepresented the Mustang is.
Wellll, actually it’s 680 lbs at best (observing the 2580 fuel capacity (which most get 2650 in it).,5350 avg empty + 2580 = 7980 + 35 lbs minimal bags .. really it’s a 3 person plus bags airplane.
It’s a wonderful single pilot jet though. Maybe the best.
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Post subject: Re: If the Mustang does your mission, it's darn near perfect Posted: 12 May 2025, 09:38 |
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Username Protected wrote: My first thought was "no one with a 1MM net worth is flying around in a newer cirrus, it's just not possible financially to have a net worth of 1MM and afford the payments and down payment on a newer cirrus" Then I gave it some thought and I suppose you could be making 500K a year, living in a swanky rented apartment, leasing sports cars etc and have plenty of money to pay for a Cirrus while also having no actual net worth. And that does seem like the cirrus type  You see some, but not a lot of professionals flying new Cirri. Most seem to be pretty successful businesspeople living their best life. There is a healthy used market that allows we poor people to enter the fold. Probably takes around 200K per year, if honest with yourself to own and operate a new Cirrus factoring in cost of capital, depreciation, fixed and operating costs.
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Chuck Ivester
Piper M600
Ogden UT
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