I’m a 50+ year old employee with almost 30 years of service in the industry. My goal has always been early retirement. I’m not quite there yet but I’m very close. I’m getting nervous about my age being a factor in my ability to find another job if layoffs occur. My wife thinks I’ll worry myself to death and would rather I take the plunge since she’ll still be employed and her health insurance can cover us. I’m tempted but I want to stick to the plan. Has anyone experienced early retirement and how did it work out for you?
8 replies (most recent on top)
I took it up the a-s once ive never been the same since!
Just ride it out! They have to be headed towards another VERP, but, with every VERP comes a major loss in knowledge so, whoever is left will have to deal with it. You can tell how bad NOV is by how much they are trying to diversify. Can't tell you how many times management has said no to non-oil field opportunities. Now, that's all they are looking for. I used to want to help my kids get on with NOV. Now.....not really....no! I miss Pete! He wasn't perfect but he knew who mattered......the people and NOV's customers!
I took early retirement, took a VERP package a few years back. i was 64 at that time, put the money in the bank and found another job working in a machinery repair shop. The only thing i had to be careful about was where i went to work....you cannot work for NOV's competition.
With 30 years invested, stay there and ride it out. If another VERP is offered in the near future, take it. The compensation you get from the VERP will be considerably more. Of course if no VERP is offered and they lay you off, you will still get a healthy severance pay.
Really just kick back and enjoy the ride until the end. No need to worry about it. Over here at Holmes Rd, i have been here 24 years now, several co-workers have 30, 40 and 45 years here. We are training the young g-ns now but oh my god, they can't do sh-t without a phone in their hands !!!
Stick to your plan and don't worry never be in a hurry and relax and eat a curry certainly dont lusten to others it will get you in a flurry if you do get laid off you could always drive a lorry.
Gud luk
You have health insurance so don't worry about it. There's no law that says you have to get an oil industry type job. You can get any type of job to make money until retirement.
Age is a huge factor. You should ride it out as long as possible. Companies want 25 yr olds with degrees. Over 50? Don't let your resume show it. I had to cut 10 years of mine. Experience means nothing. Good luck!
you will be fine. The younger gen do not know how or want to work.