As a PhD (in training), you face unique money challenges that stem from your low stipend/salary during your years of graduate school and postdoc training. Listen here for the hard-won financial wisdom of your fellow graduate students, postdocs, and PhDs with Real Jobs. From budgeting and frugality to investing and debt repayment, this podcast is your higher education in personal finance.
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The McKinsey Podcast, our new flagship podcast series, takes you inside our global firm, and features conversations with experts on issues that matter most in business and management. McKinsey & Company is a management-consulting firm that helps businesses, governments, and not-for-profit organizations realize their most important goals. Topics covered in this series include strategy, technology, leadership, marketing, operations, organization, and the role of business in society.
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Welcome to the Passive Income Pilots Podcast – the show designed to help pilots climb to new levels of financial success. Join Tait Duryea & Ryan Gibson, both airline pilots, business owners and investors, as they interview top experts and share practical knowledge on real estate, tax strategy, passive income and generational wealth. This one-of-a-kind show created specifically for professional pilots offers applicable strategies and tactics for improving your financial life. Whether you're ...
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Quantum computing has long been technology’s white whale. But in recent months, new developments suggest practical applications for this elusive technology could finally be within reach. “Quantum has been five to ten years away from fruition for many, many decades,” says McKinsey Partner Michael Bogobowicz. “Now it feels three to five years away.” …
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#107 - Take Control of Your Capital: Infinite Banking Strategy With Brent Kesler
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38:43Host Tait Duryea sits down with Brent Kesler, a seasoned life insurance strategist, to explore how pilots and high-income earners can build wealth by turning whole life insurance into a personal banking system. Brent breaks down the misunderstood "infinite banking" concept and how it can be used for real estate, debt payoff, or high-return lending—…
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Business Class Flights and Hotel Elite Status on a Grad Student Stipend
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43:30In this episode, Emily interviews Brendan Henrique, a fourth-year PhD student in education at the University of California, Berkeley. Brendan leverages his conference and research travel plus personal spending into free luxury travel by amassing credit card points and elite status at hotel chains. He breaks down how he pursues the points and miles …
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#106 – Time Freedom and Cash Strategies with Brian Herriot
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39:31Hosts Tait Duryea and Ryan Gibson welcome financial strategist Brian Herriot for a thought-provoking conversation on redefining retirement and wealth. Explore the power of time freedom, why cash might be your most underappreciated asset, and how to build passive income streams that work for pilots and professionals alike. Brian shares practical tac…
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The fashion industry faces a world in flux
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27:35
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27:35One thing is clear for the fashion industry in 2025. Due to climate change, global trade uncertainties, and consumers focused on value, growth is expected to be slow. However, despite the negative environment, McKinsey Senior Partner, Gemma D’Auria says there are opportunities to mine. On this episode of The McKinsey Podcast, she speaks with Global…
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#105 - Buying and Building a Profitable Aviation Business with James Spearman
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46:05
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46:05In this episode, Tait Duryea and Ryan Gibson are joined by James Spearman, owner of Spearman Aircraft and Iconic Rides. James walks through his journey of acquiring and scaling an aircraft maintenance business through seller financing, boosting its value through streamlined systems and strategic marketing. He shares the mindset and steps that helpe…
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In this episode, Emily shares her thoughts on whether PhDs are in a financial emergency. It’s possible that you are facing a financial emergency because you’ve been laid off or your grants have been terminated or interrupted or there’s some risk of that happening in the future. In this episode, Emily explores 1) what she learned from attending the …
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#104 - Active vs. Passive: Storage Strategies from the Flight Deck with Michael Meylor
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49:01In this episode, Tait Duryea and Ryan Gibson sit down with Michael Meylor, a seasoned pilot and self-storage investor who has built an impressive portfolio without raising outside capital. Michael shares how he transitioned from military to commercial flying, how he and his wife started investing in single-family rentals, and why they pivoted to co…
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When the career ladder breaks for women—and how to succeed anyway
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26:56Career advancement is tough for everyone—but for women, it can feel particularly elusive. There’s a reason for that, according to the new book The Broken Rung: for every 100 men promoted early in their careers, only 81 women experience that same opportunity. On this episode of The McKinsey Podcast, the book’s authors, McKinsey Senior Partners Kweil…
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#103 - Multifamily Mastery: Building Cashflow and Legacy with Gino Barbaro
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45:35In this episode, Tait Duryea welcomes Gino Barbaro of Jake & Gino to unpack the mindset and mechanics behind building lasting wealth through multifamily real estate. Gino shares his journey from running a family restaurant to becoming a real estate investor with over 1,800 units. They explore topics like values-based decision-making, creating "happ…
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Stipend Data and Strikes on the Path to a Grad Student Union
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40:43In this episode, Emily interviews Garrett Dunne, a 5th-year PhD candidate in the College of Fisheries and Ocean Sciences at the University of Alaska Fairbanks. Realizing that they were being dramatically underpaid, Garrett and his peers used the data from PhD Stipends to advocate for a significant stipend increase in their department. Subsequently,…
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#102 - Creating True Passive Income Through Note Investing with Tom Force
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49:39
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49:39In this episode, Tait Duryea and Ryan Gibson sit down with retired airline captain and seasoned investor Tom Force to discuss a real estate strategy many overlook—note investing. They cover tax strategies, risk management, and how to get started in note investing. If you’re tired of tenant headaches and want to invest like a bank, this episode is f…
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Gen AI is evolving fast—but employee adoption is slow for most companies. On this episode of The McKinsey Podcast, we feature an episode of our technology podcast, At the Edge. Tech visionaries Navin Chaddha, managing partner at Mayfield Fund; Kiran Prasad, McKinsey senior adviser and CEO and cofounder of Big Basin Labs; and Naba Banerjee, McKinsey…
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#101 - Airbnb for Aircraft: Hangar Investing & Aviation Real Estate with Trenton Ray
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41:21
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41:21Hangar space is in short supply, but Trenton Ray is changing that. In this episode, Tait Duryea and Ryan Gibson chat with Trenton about Hangar Direct, his platform that’s like Airbnb for hangars—making it easier for pilots to find and rent space. They dive into the supply shortage, investment potential, and what to know about leasing, financing, or…
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How and Why to Become an Entrepreneurial Scholar
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38:08In this episode, Emily interviews Dr. Ilana Horwitz, a professor at Tulane University and the author of the newly released book, The Entrepreneurial Scholar: A New Mindset for Success in Academia and Beyond. Ilana explains how a grad student or academic can be an entrepreneurial scholar and why it is so beneficial in an environment of uncertainty a…
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McKinsey’s highlights from Mobile World Congress
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7:41
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7:41Companies are getting practical about how to create value from gen AI – while 5G, satellites, and innovations in phone design also take center stage. This is a special, bonus episode of The McKinsey Podcast. McKinsey Partner Ferry Grijpink joined McKinsey Editorial Director Roberta Fusaro to share some immediate takeaways from the annual Mobile Wor…
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In this special 100th episode of Passive Income Pilots, Tait Duryea and Ryan Gibson take listeners behind the scenes of the podcast, sharing how it all started and what goes into creating each episode. They also dive into their personal journeys in aviation, investing, and entrepreneurship. From buying their first rental properties to scaling multi…
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Banking has had a couple of very good years—the best, in fact, since the global financial crisis of 2007–09. Yet to some, the industry’s outlook seems less buoyant than recent profitability might suggest. On this episode of The McKinsey Podcast, McKinsey Senior Partners Klaus Dallerup and Pradip Patiath speak with McKinsey Global Editorial Director…
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#99 - Turnkey Real Estate: Passive or Problematic? A Deep Dive with Zach Lemaster
52:24
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52:24In this episode, Tait Duryea and Ryan Gibson connect with Zach Lemaster to explore the world of turnkey real estate and build-to-rent properties. They discuss the benefits and challenges of owning physical real estate, the tax advantages of rental properties, and how busy professionals can invest without becoming full-time landlords. Zach shares in…
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How Academics Can Apply Self-Compassion to Their Money and Time
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49:20In this episode, Emily interviews Dr. Danielle De La Mare, a career wellness coach and facilitator and the person behind Self-Compassionate Professor. Danielle recounts how she reached a crisis point in her career and personal life that led her to quit her tenured professorship. This crisis included a financial component due to her avoidant money m…
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#98 - The Right Coverage: Property Insurance Strategies with Valerie Cusano
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49:46
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49:46In this episode of Passive Income Pilots, Tait Duryea and Ryan Gibson sit down with Valerie Cusano, an insurance expert with a background in law and decades of experience in commercial and residential insurance. Val dives deep into the critical aspects of real estate insurance, particularly for condo and rental property owners. She explains the dif…
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CEOs are confronting double the number of critical issues today compared with ten years ago. On this episode of The McKinsey Podcast, McKinsey Senior Partners Daniel Pacthod and Kurt Strovink, along with McKinsey Senior Advisor Wyman Howard, join McKinsey Editorial Director Roberta Fusaro to discuss the characteristics today’s business leaders need…
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#97 - Creative Deal Structuring: Smart Real Estate Strategies with Chris Prefontaine
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53:27
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53:27In this episode, Tait Duryea and Ryan Gibson dive into creative real estate financing with Chris Prefontaine, founder of Smart Real Estate Coach. Chris shares powerful strategies like seller financing, subject-to deals, and lease purchases, revealing how investors can acquire properties without banks—even in today’s high-interest rate environment. …
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Financial Hacks Unique to Graduate Students
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47:57In this episode, Emily interviews Kyle Smith, a sixth-year graduate student at Penn State, about the financial strategies and hacks he's used during grad school to increase his income and optimize how he spends and manages his money. In addition to side hustles and credit card and banking bonuses, they discuss how graduate students can benefit from…
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#96 - Airplane Write-Offs, IRS Audits, and Smart Tax Planning with Ryan DeMoor
49:44
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49:44Have you ever wondered how you could write off an airplane? In this episode, Ryan DeMoor joins hosts Tait Duryea and Ryan Gibson to break down the tax benefits of aircraft ownership. Ryan shares how pilots and business owners can strategically use aircraft purchases for tax deductions, the IRS rules around business use, and why proper record-keepin…
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The World Economic Forum was buzzing as leaders confront a world in flux. In this episode of The McKinsey Podcast, McKinsey senior partners Daniel Pacthod, Rodney Zemmel, and Tracy Francis talk with McKinsey global editorial director, Lucia Rahilly, about what happened in Davos last week (originally recorded for our webinar series, McKinsey Live). …
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#95 - Franchise Investing 101: Insights and Opportunities with Cliff Nonnenmacher
53:31
53:31
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53:31In this episode of Passive Income Pilots, hosts Tait Duryea and Ryan Gibson explore the world of franchise ownership with franchise expert Cliff Nonnenmacher. Cliff brings decades of experience as a franchise consultant and serial entrepreneur, sharing insights into how pilots and professionals can invest in or operate franchises to build wealth. T…
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Financial Questions from an International Graduate Student Who Hopes to Become a Permanent Resident
42:49
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42:49In this episode, Emily interviews Gauri Patel, a first-year grad student in biomedical engineering at the University of Texas at Austin. Gauri is on an F-1 visa, but she has lived in the US for over 10 years. The financial questions Gauri has encountered are different from those typically asked by both US citizens and new international students. Ga…
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#94 - Fail Fast, Succeed Faster: Wealth-Building and Investment Strategies with Christian Schiller
47:51
47:51
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47:51In this episode, Tait Duryea and Ryan Gibson sit down with Christian Schiller, an accomplished investment banker with a wealth of experience buying, selling, and evaluating businesses. Christian shares his investment journey, including lessons from early failures, how he refined his investment strategy, and why knowing your limits is key to success…
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Navigating the new geopolitical uncertainty
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18:53
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18:53Yes, the changing geopolitical reality presents new risks—but like all disruptions, it may also create new opportunities. On this episode of The McKinsey Podcast, Cindy Levy and Shubham Singhal, global coleaders of McKinsey’s geopolitics work, speak with global editorial director Lucia Rahilly about how leaders can orient themselves within this evo…
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#93 - Stock Market Insights and Tax Strategies for High-Income Earners with Brian Feroldi
55:19
55:19
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55:19In this episode, Tait Duryea and Ryan Gibson welcome Brian Feroldi, author of Why Does the Stock Market Go Up? to unpack the fundamentals of the stock market and explain strategies tailored for pilots and high-income professionals. Brian demystifies the difference between Roth and traditional 401(k) contributions, shares insights into dividend inve…
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Sustainably Moving in the Right Direction in Your Finances (with Dr. Kate Henry)
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44:54
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44:54In this episode, Emily interviews Dr. Kate Henry, a productivity coach for academics. Kate was a workaholic who equated her work with her worth until her declining health forced her to stop overworking. Now, she coaches grad students and academics in how they can achieve career success in a sustainable manner. Together, Kate and Emily explore sever…
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#92 - Opportunity Zones for Passive Income: Unlock Tax Savings and Growth with Nathan Sosa
51:28
51:28
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51:28Dive into the intricacies of Opportunity Zones with this episode of Passive Income Pilots. Hosts Tait Duryea and Ryan Gibson are joined by CPA Nathan Sosa of Hall CPA, who demystifies Opportunity Zone (OZ) investments and their potential for tax deferral and appreciation. Whether you're an active investor or prefer passive opportunities, learn how …
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#91 - Interest Rates, Submarkets, and CRE's Future with Spencer Levy
49:12
49:12
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49:12Spencer Levy, a leading expert from CBRE, joins Tait Duryea and Ryan Gibson to break down the current state of commercial real estate (CRE). He explains how rapid interest rate changes are reshaping the market, highlights key megatrends like reshoring and live-work-play neighborhoods, and offers advice on navigating submarkets. Whether you’re a sea…
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#90 - Balancing Flying, Business Ownership, and Financial Growth with Carl Valeri
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49:22
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49:22In this action-packed episode of Passive Income Pilots, Tait Duryea and Ryan Gibson sit down with Carl Valeri, an airline captain and experienced entrepreneur, to share actionable strategies to balance a flying career with building a passive income. Carl dives into creative ways to start or buy a business, reduce your tax burden, and even transitio…
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Replaying a full year of The McKinsey Podcast—in just ten minutes
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15:19
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15:19Technology, talent, decarbonization—we explored these and many other topics this year on The McKinsey Podcast. A range of McKinsey partners joined us on the mic and offered their perspectives on the pivots that global business leaders have made to compete more effectively. On this episode, we revisit a few those discussions and offer quick takes fr…
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#89 - Air Traffic, Pilot Pay, and Airline Economics with A4A's Chief Economist John Heimlich
41:04
41:04
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41:04In this episode, Tait Duryea and Ryan Gibson sit down with John Heimlich, Chief Economist for Airlines for America (A4A), to unpack the challenges and wins shaping the airline industry. From air traffic control staffing shortages to the impact of pilot pay increases and aircraft delivery delays, John shares key insights into the state of U.S. airli…
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Catching Up with Prior Guests: 2024 Edition
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21:54
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21:54Emily published the first episode of this podcast in July 2018. This is the 223rd episode, and over the last six and a half years, the podcast has featured over 300 unique voices in addition to my own. For our last episode in 2024, we are catching up with the guests from Seasons 12 through 14, and a few from earlier seasons as well. The guests were…
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The industries reshaping our global economy
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19:02
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19:02“A bank and a steel company can walk into a bar and not have much to do with each other. But once one of the arena companies walks in, we’re all involved.” That’s McKinsey Global Institute director Chris Bradley. On the latest episode of The McKinsey Podcast, Chris spoke with global editorial director Lucia Rahilly about a new report delving into t…
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#88 - Flight Schools and Passive Income: Insights from Gordon Alvord
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46:34
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46:34In this episode of Passive Income Pilots, hosts Tait Duryea and Ryan Gibson talk with Gordon Alvord, Alaska Airlines captain and co-founder of Rainier Flight Service. Gordon shares how a 2008 furlough led to creating Washington State’s largest flight school, with over 70 aircraft and a reputation for innovation. Discover how he and his partner used…
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#87 - The Mega Backdoor Roth and How Pilots Can Maximize Retirement Contributions with Timothy Pope
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50:41
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50:41In this episode of Passive Income Pilots, Tait Duryea and Ryan Gibson welcome back financial expert Timothy Pope to unravel the complexities of retirement strategies for high-income professionals, focusing on the Mega Backdoor Roth. Timothy explains how this powerful tool allows pilots to contribute significantly more to their 401(k) accounts, unlo…
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This Former Prof Found True Flexibility and Profitability in Her Academic Editing Business
31:03
31:03
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31:03In this episode, Emily interviews Dr. Paulina Cossette, a former professor and the owner of Acadia Editing. Paulina followed the prescribed academic path, but found herself profoundly unhappy in her faculty position. After leaving academia, Paulina stumbled into academic editing and eventually started working under her own brand. As a business owne…
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#86 - Mapping the Skies: The Tech Behind Real-Time Flight Tracking with Ian Petchenik
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33:52Welcome back to another episode of Passive Income Pilots! In this episode, Tait Duryea and Ryan Gibson step outside financial strategies to explore the world of real-time flight tracking with Ian Petchenik, Director of Communications at FlightRadar24. Ian shares insights into the app that has become essential for aviation enthusiasts and profession…
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What will it take for working women to rise?
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27:15
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27:15Ten years of research on women in the workplace, conducted by McKinsey in partnership with LeanIn.Org, reveals what’s better, what’s worse, and what all of us can do now to help more women advance—more quickly—at work. On this episode of The McKinsey Podcast, McKinsey senior partners Alexis Krivkovich and Lareina Yee speak with global editorial dir…
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#85 - Cost Segregation: The Tax Strategy You Can’t Afford to Ignore with Erik Oliver
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47:59
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47:59Welcome back to another episode of Passive Income Pilots! In this episode of Passive Income Pilots, Tait Duryea and Ryan Gibson are joined by Erik Oliver, Vice President of Cost Segregation Authority, to dive deep into cost segregation. Erik explains how this tax strategy accelerates real estate depreciation, enabling investors to unlock substantia…
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Negotiation and Long-Term Thinking Effected Financial Success for This International PhD
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45:35In this episode, Emily interviews Wen, who recently earned a PhD in plant pathology from the University of Wisconsin-Madison. Wen came to the US for her master’s degree immediately after finishing undergrad and started learning about the US financial system, even though she had an avoidant money mindset. After overdrafting her checking account, she…
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Special episode: Climate adaptation is one key theme at COP 29
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2:36This is a special, bonus episode of The McKinsey Podcast. McKinsey partner Alexis Trittipo joins us from the UN climate change conference (aka COP 29) in Baku to share what she’s hearing about climate adaptation. See www.mckinsey.com/privacy-policy for privacy informationBy McKinsey & Company
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#84 - Tax-Free Growth & Infinite Loans: Whole Life Insurance Strategies for High-Earners
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39:52Welcome back to another episode of Passive Income Pilots! In this episode, Tait Duryea hosts Rod Zabriskie and Brenyn McConnell from Money Insights to explore how whole life insurance can be a powerful investment tool. They discuss how pilots and high-income earners can use structured whole life policies to build tax-free growth and take policy loa…
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CEO Tufan Erginbilgiç on reinventing Rolls-Royce
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25:30Since Tufan Erginbilgiç took the helm of the iconic brand, its share price has surged. Profits have more than doubled. How he did it is a case study in the art of corporate transformation. In conversation with McKinsey senior partner Michael Birshan. See www.mckinsey.com/privacy-policy for privacy information…
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#83 - Market-Based Cash Balance Plans with Jesse Reed
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53:55
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53:55In this episode, hosts Tait Duryea and Ryan Gibson welcome back financial planning expert and pilot Jesse Reed to dive deep into market-based cash balance plans—a retirement vehicle being implemented by airlines specifically for high-earning pilots facing 401(k) spillover limits. Jesse unpacks how pilots can strategically manage these plans to maxi…
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