Just curious.... What's your current retirement.
I'm 50 and my 401k + Pension combined is $2M.... 18 years with CVX
I would like to obtain more benchmarks. Feel free to share. TY
22 replies (most recent on top)
@2hp can barely get by on that these days if you want to not be trashy
Lollllll $9mm so you can peel off $360,000 a year for life yet you still at cvx
There is a simple formula for the pension and the formula about the same for everyone (with variations for, say, Texaco employees or Unocal). Highest years of salary and total years of service are the drivers.
401K depends on how you invest it and could range from ten of thousands to tens of millions.
If you aren't getting LTIP, there's really no point in staying here- salaries are not extraordinary anymore and the ELT is rubbish. Most who are long haulers are making millions via their stock b/c they get grants 2 x per year. It's a fact.
@q3 This amount is about right for me, too - 2.4 for 401k and pension.
Late 40’s dual Chevron for 20+ years (grade 24’s)
Total net worth ~9 MM.
@q3 lollll
So somehow many of you have saved like +40% of your after tax pay since day 1 and earned a 9% return for 18 years. Lol right
Why are some of you even still working in this god awful place if you have several million in your 40s? I doubt most of the number even though the market run has been amazing.
Most of you are brown bagging it in Katy and driving Hondas and have no real life or major expenditures so why? Health insurance?
@pq I'll keep my Roth IRA and my traditional IRAs. Thanks though.
Late 40’s, 18 years CVX. 401K plus pension 2.4. Additional outside investments 4.0.
@bt You should consider consolidating all your retirement accounts into the 401(k) for easier management and tracking. The investment fees in the 401(k) are very low.
@e2 did you hear BB's boyfriend at investor day pontificating about seismic and geophysical attributes? guess he learned something from his GF.
40 yr old. 14 years with CVX and 4 years prior I rolled over. ~1.8mm with 1.4 in 401k and 400k pension.
- 17 years with CVX. Pension + 401k = $2MM. Additional $800M in outside mutual funds. Hoping to be close to $4MM total by the time the next package rolls around in 3 years
@bn Are you looking for a Beatrice replacement? ‘Cause I sure could use a sugar daddy.
30, 750Gs
Late 40s. 20 yr cvx.
~1.8 in 401k. Cash out value of pension is ~$550. Have ~400 in other liquid assets.
mid 40s, 17 yrs cvx, combined 401k+pens is $2.1 MM.
Another $450k in Roth. Been doing megabackdoor +backdoor roth every year
37 years old, 14 years at cvx.
~1.3 MM combined. Just under 1 in 401k/Roth, rest in pension
I'm still newer to the company through an acquisition so I'm still trying to understand the pension ordeal after vesting. Trying to treat it as not real until it vests. That being said, I'm 39 and have about 800k spread out among various retirement accounts through the years. I only made about 65/yr up until 2022 so I've had very few years at my higher pay. If all goes according to plan, I'd like to stop working altogether at 45 with ~2mil saved.
I’m 62 and have almost 40 years with the company. 401k sitting at about $81,000,000. Pension about $25,000,000. Stock options about $29,000,000. Hoping to get to $200 mil in the next few years!