At least there's some good news with this sinking oil tanker of a company. Sure there's layoff, oil prices & EOI's but at least the interest rates are going down and our lump-sums are going up!
https://techstaffer.blog/2020/09/18/chevron-once-again-has-record-low-interest-rates/
7 replies (most recent on top)
@iyth, I EOI'd in 2016 and cashed out my lump sum in early 2018. The lump went into an IRA and today, even after the COVID crash, the value of my lump sum investments is greater than if I cashed out the lump next month. I sleep well.
These really are amazing rates. I have never seen anything like it. Those who cashed out in the last several years must be having sleepless nights.
Is that what you’re relying on? A few more dollars in the lump sum because interest rates are low? Don’t be a shallow thinker. The few extra dollars will be gone faster than you shake a stick after you can’t find a replacement job for the one you’re losing.
Segment 1 and 2 are down a small bit, but segment 3 is up a wee bit... these really are not huge moves folks. That said, it is a great time to cash out that lump!
The stars are aligning - great time to get out of the Chevron quagmire!
Need to decide whether to apply for lump sum for 1 Nov or 1Dec
1 Nov means interest rates for June, July, Aug are averaged
1Dec means that interest rates for July, Aug, Sep are averaged
July and Aug rates are the lowest so it’s a comparison between June and Sep rates. It appears they will be similar do I am thinking of taking lump sum per 1 Nov date so will get the money earlier.
By the time Chevron processes it, it will only be received by end Nov after elections
yes there is THAT