If you were to log in, you'd be able to get more information on your fellow community member.
As a co-techie contemplating aviation as a hobby, I carried out a similar back-of-the-envelope risk assessment recently, with similar conclusions. However, I approached it by trying to answer the question 'How likely is it that I will die in a plane during a lifetime of recreational flying?'. Assuming, say, 4hrs flying for just under half the weekends in a year, spread over 30 years of active flying gives an approximate lifetime total of 2500hrs. So the chance of dying is (16/10^6)*2500 - a rather scary 4%. But compare that to a lifetime of commuting 20,000 miles a year and you get around a 1.4% chance of dying in a car. So flying isn't so bad after all.