Thread regarding ExxonMobil Corp. layoffs

Savings

Curious to hear - for those still at EM, at what point would you feel like you've saved up enough to just bail from EM and either retire or just go do something else?

Obviously savings matter less if you're jumping to another job, but a decent nest egg at least gives some flexibility to do something you might like better even at a pay cut.

I think most rank and file employees - certainly most on this board - don't love the environment at EM so are mainly sticking around for the paycheck and benefits. Depending on what job you have and your years of service, there's the opportunity at EM to have a fair bit saved up by the time you hit mid to late career even without relying on the pension. Just interested at what point y'all would call it a day.

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Post ID: @OP+1f9sEYIV

7 replies (most recent on top)

E&Y or another financial planner. Build a plan and test scenarios. Good insights to be found.

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Post ID: @2nly+1f9sEYIV

Stop with the admin bs on every thread already will ya…

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Post ID: @1zwp+1f9sEYIV

If you haven’t noticed, you can bail on xom and make a ton more money, not take a decrease. If you’re concerned about saving for retirement, you should head somewhere that pays you significantly more. It’s actually fairly easy, XOM underpays significantly. Most are sticking around due to laziness and fear of the unknown. They know (or at least are confident) they’re not getting PIPed, and don’t care so much about taking a small risk and going elsewhere.

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Post ID: @mqs+1f9sEYIV

I bought a couple of rentals over the year and it has reached the point where I make as much from those as I did from my salary.

Ended up taking a $50,000 pay cut to move to the mountains and work fewer hours in less stressful environment.

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Post ID: @bvb+1f9sEYIV

26 gazillion.

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Post ID: @opq+1f9sEYIV

Replace your income or at least get to a very comfortable lifestyle with your savings and a job you love.

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Post ID: @myx+1f9sEYIV

15 Million is my number

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Post ID: @dds+1f9sEYIV

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