Thread regarding Chevron Corp. layoffs

I like rereading this post over and over, I’m gonna wanna believe they made it over the fence...

I recently won $2400 playing blackjack in Louisiana. I plan to invest it in the stock market and just sit back and watch it grow!

Left CVX 2 years ago for a FAANG with 7 YOE. If you're in the bay area, the salary bump is more than worth it. TC last year was $400k+ with RSUs where my base + bonus was around $120k with CVX (PSG 20). So for those who got let go; definitely look around!

I came in at PSG 24 15 years with 0.75 MM and now am a PSG 26 with just over 6 MM ... and that with no expat assignments and very consistent 2 ranking. So op does not sound unreasonable.

Cool story bro, tell it again.

Congrats on winning 3.5 million in the lottery. You are full of it.

EOI'd this year, PSG 23. I have a lawn care business and about $1,250 in my checking account. I drive a 2001 Ford. It's all good.... Have never been late on rent once this year knock on wood, LMAO!

Lots of tall tales up in here. However, I do know at least two Chevroids who were stupid enough to buy exotic cars while at modest PSGs. One a Lambo and the other a Ferrari. Both are still working, I imagine, to fund their exorbitant lifestyles.

Psg 22, 38 yrs with company. Loved my job but eoi’d. Been a lucky investor. Now own an island in south pacific and 40’ sailboat. Own a Starbucks in Houston to get steady income. Have just 1 wife 20 yrs younger then me (all i can handle). So you don’t need high psg and expat time to do well...... so there.....

I managed to con millions of Americans to send me their bank account information by telling them I was a deposed prince from N—ria who needed to transfer heavy cash out of Lagos. Netted about 200 MM USD, so as I am sure you smart people can figure out I am way ahead of all you sad sacks.

@2hxo, I have exactly what you just mentioned, but unlike you, I also inherited my rich uncle’s estate valued at $30mil. As you can appreciate, I just topped you.

I agree with @2sea, how is this layoff related? More like a who can BS the most thread.

Nonsense

I heard that there was a layoffs site somewhere, where they discuss layoff related topics, but when I click on the link, I keep on getting this area with unrelated threads. what happened to that site?

You forgot the 2 hours of daily yoga and the 4 kids in Ivy League schools.

I am a psg 25 w 33 yrs w chevron and received no inheritance. I invested well. I have 6 houses paid for, 2 on beaches, n 1 has a vineyard, an original vintage cobra, a van gogh, cessna airplane, net worth over $20mil, will donate my LS to charity, have 2 wives in different states and working on 3th one. Love my job but decided to EOI. Life is good. Beat that.

@2dcb, not a repeat, first post. seems like you have nothing to do but troll and spout hatred and envy. goodbye.

@2ziy, Keep repeating your fantasy over and over. Reality has a way of waking up everyone, some sooner than others.

Exactly what I was thinking when I read this, my story is quite similar. Don't know why it's seems so surprising. Started with net worth of $734,000. Eventually our 401K reached $5.8 million but I knew it wasn't time to retire. 401K + pension + rentals- starting to look promising. I also worked when oil and gas was king and folks don't know it, but downstream it still is. Refined hydrocarbon products and hydrocarbon derivatives rule the world and are a component in everything that we use daily including electronics and all means of transportation. And gas is clean energy comparably speaking. The demand for oil & gas will be in place for a very long time, although not always in the same quantities.

I did nearly the same. Came to EM with net worth of $256,000. By the time my 401K reached $3.4 million it was time to retire. 401K + pension + SS; it was an easy call to make. I worked during a period when oil and gas was king. It was a good run. EM treated me fair.

Keep fooling yourself or lying to the readers. You say you left Chevron after 13 years with a $4.7MM net worth? Did you live at your parents house and not travel or buy groceries in all those years while socking away 100% of every paycheck? Sorry, but to me, your claim doesn’t add up.

With 10 MM "You are in trouble to make ends meet in the Bay Area" .... yes agreed, if you are a complete id–t and put all your money under a mattress. Impossible to predict anything 50 years out (hell, there could be a thermonuclear war), but if you had a quarter million dollar spend rate on 8 MM invested in a plain vanilla low-fee balanced investment account there is a good chance that after 50 years you would have more than 8 MM invested when you die (and you could also reverse mortgage that house in the extreme worst case scenario). Anyone with a couple MM can live a very nice comfortable life essentially indefinitely with just a wee bit of common sense and some lifestyle flexibility as needed (but, I agree, perhaps requires a bit in the Bay area).

You are retired! Move somewhere cheaper.

Let’s say you are a Californian retiring early. You have $2 mm in real estate and $8mm invested. You retire at age 50 with 25 years. You plan 40+ years retirement. Given current market conditions, a 3% starting withdrawal would be appropriate yielding $240,000 per year. Income and other taxes will reduce that to $200,000. Kids in college? You are in trouble to make ends meet in the Bay Area.

“ Depending on family size and retirement location, ten million could be pretty marginal.”

No, this is a ridiculous statement detached from reality.

Depending on family size and retirement location, ten million could be pretty marginal.

Guess you wouldn't be the one sending some "mysterious box" to them.

post 2008 employees will take a million dollar hit on pension lump sums.

yes, I'm sure these people would love to share their personal finances on a layoff site with trolls. lol

“ In our case 13.7 MM was achievable”

Wow, can you give us some details, single/dual? Years of service? PSG’s?

In our case 13.7 MM was achievable, but not without sacrifices. Some like to save and invest, some like to blow their dough. We've had a good run folks, Let's just hope this new administration doesn't ruin it for us, which is entirely possible. Good luck with your new jobs or retirement, folks.

10 MM is achievable, but I wouldn’t say “easily” ( unless you are gd 28+)

Ten million is certainly feasible after 20+ years with Chevron and many achieve it easily between pension, 401K, stock, real estate and savings. The funny thing is, it is hard to get there unless you like saving money. That being the case, you probably don't need that much and should have retired sooner.

Retiring with 9MM+ is definitely posiible but is a P90 case, it requires:

• if dual income, 25+ years of service ending at gd 25 atleast
• if upper management, gd 27-28, with atleast 10 years spent gd 26+

Of course disciplined investing along the way.

P50 for a single income 30 yr career ending gd 25-26 would be ~$5.5 MM

The math shown is correct. Just keep in mind half your increase in net worth could come from your original $600K. At 10.5% CAGR that grew to $2.2MM in 13 years. Don't forget value, if any, of pension, CVX stock options, and any real estate. If all included, CVX salary cash savings could be quite modest (e.g. $1MM).

Congrats and ignore all the trolls. You have enough to live a complete and happy life and lots of time to enjoy it. Well done.

This site is really full of butt hurt a– wipes.

Says something about the value of the dollar. Not worth what it used to be.

"That's actually well into the lower half of degreed CVX retirees" 100% correct.
We have more than double that, no heavy lifting whatsoever, in San Ramon. what's the big deal?
What does this have to do with layoffs, by the way? Did I miss something?

The stock market has done exceptionally well the last 13 years. 10.5% CAGR. If you saved $70K your first year (including 401K, CVX match, etc) and 5% more each year, your savings would grow from $600K in 2007 to $4.5MM in 2020. QED.

I don’t mean to brag but you can get my profile joined in mid 30’s and spent 7 years expat. Never a 2- and they let me go!