I was excited about the EOI. I thought it would be a great parting gift from Chevron before leaving the company. However, now that my 401k has lost 30% of its value. It doesn’t seem like such an awesome idea.
24 replies (most recent on top)
@vbs, I can smell BS a mile away and it's all over you buddy, lol.
@1kl, Yeah, suggesting that people who are more knowledgeable and experienced and devoted most of their lives to a field should be kicked to the curb for the benefit of incompetent, entitled do-nothing new-comers is pretty low. Couldn't agree more.
CVX PE is 45 better than 60 before the downturn. It'll take a long time to come back up.
Good enough for Chevron.
You displayed your level and it is pretty low.
You will turn 60 also one day. Only lucky people turn 60.
Your statement will hurt you one day.
Throw the retirement age people over the side without severance. There is no sympathy or caring in business - It’s dog eat dog out there
The retirement age people can’t leave now because they’re broke.
Maybe this will finally get retirement age employees to stop hanging off of the CVX teat for years past their expiration date in hopes of an early retirement package. Too many 60 year olds who haven't done real work for years being paid too much and won't retire until there's a package offered. Serves them right.
@xmk, Except you didn't - I actually did accidentally- for other purposes, not having a clue. lmao!
The definition of Crazy is doing the same thing over and over, hoping for a different outcome. Continuing to maintain our dividend aristocrat status is akin to Crazy.
On the contrary, CVX dividend is very safe. In fact, it is safer than your chances of continued employment. Chevron is a dividend aristocrat and will continue to raise its dividend every single year, even if just by a penny. This company will borrow money to pay the dividend, as it did in 2016.
Non oil stocks will rebound quickly once a vaccine Is rolled out. Cvx will take longer. The dividend will be dependent on how long and how much FCF is challenged.
I moved a substantial portion of my 401k to money market about a month ago. Y’all are the ones whining about losing all your money, not me. Too bad, so sad.
@jcg, Precisely!
Well how would that have helped me if I only knew about it and posted about it after the fact, like @vbs?
You should have just consulted with @vbs. He has been able to accurately back-predict all of the last stock market crashes no later than 2 weeks after they happened!
This was about the easiest crash to see coming of all time. There was a two week window in February where China had locked down about 700 million citizens and the market barely reacted. That was your chance.
Take the EOI, get your separation pay now (up to 52 weeks of pay)
Leave your 401K alone, don't touch it for the next (3 - 5) years while it recovers
File your paperwork and collect your pension now: interest rates are at all time lows
Live off your savings, brokerage accounts & pension funds (either lump sum or annuity)
If you can't do that, you aren't financially prepared to retire; plain and simple
In that case, keep working and get yourself ready so one day you can
Easy....in your case don’t retire
We are not clairvoyant like you are.
You do realize that a market sell off can happen at anytime and that is what you need to take into account in retirement planning. You should be able to withstand a downturn!
mine too and EOI is no more a good proposition. Chevron may decline to severance due to Company's financial condition. Scary time. Let us pray for wellness of everyone.