Thread regarding Fidelity Investments layoffs

@e0 like the last person told you, you’re angry, bitter and mean. You can try to bully, I distance myself from you. Still agree with your diatribe although a little whiny.

The poster left the firm, but came back to this board to enlighten us with their sage advice?

I feel honored to bask in their afterglow.

@nd you better get out while you have some life left. I retired at 52, never to go back. Get out while you can. You cannot take the money with you into the afterlife.

This is true. I started working for Fidelity when I was really in my 40s. And, my wealth accumulation has been much better than anywhere else.

The profit sharing and bonus are a big lift every year.

So, there's that.

It’s true. I’m a little over 30 years , did not max out most years and have a little over $4 million with about 3 years left till I’m 60 and leave.

@ch you forgot naive

For those asking how to retire a multimillionaire, do you have a 401(k) with Fidelity and do you contribute at least 7% of your before-tax pay?

Let’s say you make $100k total including your bonus, and you contribute $7k per year. Fidelity matches that so you’re contributing $14k. But then they also put 10% of your total pay into your 401k every January, so now you’ve contributed a total of $24k, of which only $7k was your earnings. If you started doing that at 25, you’d have $8M at retirement with a 10% annual rate of return. Even if the market did badly you’d still be a multimillionaire by just contributing the minimum to your 401k to get the match. And then think if you invested more on top of that as you get older.

Don't work for fidelity.
Your just a number and they will let you go in a heartbeat.
I was there 10 years with multiple awards !
If your not related to someone or have a manager pushing for you then your wasting your time !!!
Go work for Goldman Sachs and make
Money !

@OP Thank you for sharing your views as it won’t help us but will help others. People like you who are willing to share to help others are the true servants to society. Thanks again for your service to others.

@h8 Thank you for seeing the big picture and calling out a pouty fraud. DW obviously serves himself and he has the right to do that. Good luck to him 🤣.

@dw congratulations! Seriously. You mind sprinkling what you did with Fidelity that other people who start early can do, too? I assume it’s something like “do a decent job at work and invest the money you make”, but dive more into details of how you built your wealth if you can and feel comfortable. Thank you!

I worked for Bass Pro Shops and it was very similar.

OP here responding to @dz+1jzy1cetp:

It seems you've misread my post as some sort of greenlight for your "politics." I smell them even from here and I distance myself from you. Bye.

@OP The most recent post is spot on. I had 15 amazing years at Fidelity that started under Ned Johnson. He was a visionary who kept his politics to himself and smart enough to respect others. That’s no longer the case and the mob now rules. The environment is toxic with people reporting people to HR for having a differing opinion outside of work. The physical work environment in Jacksonville is disgusting. The guy who’s been there 28 years commenting he’s a multi millionaire because of the company. I’m a multimillionaire outside of Fidelity’s help and only completed 15 years. Being a multimillionaire isn’t a badge of honor when it’s not hard to accomplish anymore with time in the market. As for the firm, we’re just numbers now, what’s your abadge? The mid level leaders in Jacksonville are a joke and talk about each other behind each other’s backs. Tarshima White was never at work and has a side business. She jokes about Fidelity being her day job and has the loyalty of an alligator. In two years she changed the culture alright, it was great, now it’s pathetic. If you look at the people leaving, they are leaving quietly and going to places that walk the walk. Good luck su-k ups who stay just remember to take the advice from others, don’t cooperate and tell it like it is. Tell them what they want to hear and smile. Don’t feel guilty either because those above you did the same to get ahead.

Been there for 28 years. Love seeing the whiners on here. My experience has been the exact opposite over the years...and I have never been in management. Those that hate it are usually the problem. Those that leave often return at some point - once they grow up and realize how good they had it at Fidelity. I will retire in the next 5 years as a multi-millionaire. Very few companies can do that for you, or are more committed to your personal success.

I heed a different philosophy than OP. I slack and coast as I like and can but whatever I touch that bears my fingerprints, I wow folks around me. When I got no notice after I stand tall or become a target, I leave the place. Mediocrity is a sin to me.

OP here responding to @cb+1jzy1cetp:

Im not mean. In fact, being too nice and honest got me sc--wed over.

I am angry just a wee bit about not knowing about the game and how it really worked. I probably should write a guide to corporate America book for young folks.

"Lo! I am weary of my wisdom, like the bee that hath gathered too much honey; I need hands outstretched to take it." -- Frederick Nietzche

Hey OP -You sound angry, bitter and mean. That's a sad way to go through life. I feel sorry for you