Thread regarding Baker Hughes Inc. layoffs

I'm quitting my job. Am I crazy?

I'm 28 year old working in Saudi as an expat. I have been working hard and saving like crazy since graduating college. I currently making a very good amount of money; however, I am burnt out and plan on resigning in October and returning to the USA. We will have about 60k cash to fund the daily expenses and 700k in savings with no debts whatsoever. This is about 3 years earlier then originally planned and I will not have a job when I return due to the current downturn and the uncertainty of the merger.

What I would be giving up is a steady job that provides tax-free $20k/month in real savings and medical insurance. If I stayed here another 3 years we would be able to fully retire at 31. I am basically giving this up if I leave. Would it be stupid to quit my job and the promise of early retirement to go into such uncertainty? The truth is we are just not happy with life out here and both the wife and I are falling into a state of depression very quickly which is not good and we need to get out. I would have plenty to do in the off time as we are very active people and have many hobbies- part of the reason we are falling into depression here- locked behind walls in a camp 24/7 with armed guards protecting us. Am I crazy to leave now?

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Post ID: @OP+CX5S7TM

18 replies (most recent on top)

To Anonymous135142

So you said this????!

"Divorce the wife immediately. Give her half. Work three more years and move to Thailand. Okay mostly Brits do that but it can work for you."

** It's a-holes like you that give us good guys a bad name!

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Post ID: @5vlF+CX5S7TM

I'm calling BS on this one, but because I'm bored, let's assume it's true. You'd be stark-raving mad to piss away an opportunity that has potential to pay you enough money to retire at age 31. Sorry to hear that you and the wifey "just aren't happy here". Suck it up buttercup. If your story is true, you can do 3 more years standing on your head. You can thank me later.

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Post ID: @4vKE+CX5S7TM

Check out Mr. Money Mustache blog- especially the forums- you can do it buddy!

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Post ID: @1hBG+CX5S7TM

Mr. Saudi Expat: The guidance you and spouse are looking for is embedded in the classic book "The Richest Man in Babylon" by George Classon. Study and grow wise and rich! Sincerely, your financially independent contractor.

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Post ID: @17nv+CX5S7TM

The taxes are worse than you think. The FEIE doesn't even come close to allow you to break even because the IRS taxes everything. But I agree. Taxes are there so the government can provide services. I receive absolutely no benefits from my country yet I still have to pay taxes. There are people who don't work for US companies that do not have W2s or 1099s filed on their behalf. They can put whatever sum they want on their 1040. Of course with FACTA now in effect, it is riskier to do that. I'm not saying anyone would cheat on their taxes but.... Of course I sleep well in the knowledge that my government will rescue me if things get really bad. Just ask the 1,500 Americans abandoned in Yemen when the embassy staff and marines snuck out of Sana'a.

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Post ID: @1msc+CX5S7TM

Put your nose to the ground and keep on grinding for a few more years.

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Post ID: @1wla+CX5S7TM

If I worked in Saudi, I sure as hell would hope that I didn't have to pay taxes to a government organization from a country that I neither live in or work in (IRS). Regardless of what my citizenship is. I mean, that wouldn't even be worth it...

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Post ID: @XE2+CX5S7TM

Read the layoff.com and see what you are coming home to. Now that is depressing.

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Post ID: @oAi+CX5S7TM

What an a-hole.

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Post ID: @SWq+CX5S7TM

aye yer a knob

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Post ID: @oDd+CX5S7TM

Divorce the wife immediately. Give her half. Work three more years and move to Thailand. Okay mostly Brits do that but it can work for you.

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Post ID: @TID+CX5S7TM

I am trying to work this out. An American, or at the very least a green card holder, works for BHI in Saudi and the company files no W2s with the IRS. No bank reporting through Facta. Result is zero US tax. Either this guy is a joke, a liar or a financial genius. So I either want to laugh, buy him a beer, or attend his seminar. Just confused right now.

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Post ID: @wwe+CX5S7TM

Can't believe you are sharing such info and asking the BHI world on this site to give you a personal opinion.

Unless you plan to live off the grid in the bush - best you secure a job before resigning or a possible transfer.

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Post ID: @2Sn+CX5S7TM

This site makes me sick. A lay off page, talking about how much money you have?!? Your touched. Go post on a etrade site you idiot.

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Post ID: @ERX+CX5S7TM

By the way, how exactly do you work out that USA tax free thing? I recommend you keep that one to yourself.

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Post ID: @mTg+CX5S7TM

As young as you are, you do realize that $700K is really not very much money right?

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Post ID: @d6D+CX5S7TM

Have some cold ones and go to work.

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Post ID: @jQR+CX5S7TM

Saudi is the only safe place to be now for the oil industry. Go to Bahrain tomorrow and have a few cold ones and come back with a better attitude.

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Post ID: @4l3+CX5S7TM

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