Years of service
401k amount?
29 replies (most recent on top)
13 years 680k
I’m an experienced hire with a $300k+ salary, if you’re a recent grad you’re not going to have anywhere near what I’ve saved in 2 years. The point is to always contribute the max that you can, get the company match, do the after tax Roth conversion every year. Then when your in your 50s or maybe even 40s you won’t be all twisted up about work like so many people here because you can just quit or wait to get fired.
180k in two years what are they paying you.
Normal people will save max 23000 per year.
That is 46k. Average growth 10% puts you at 50,600.oo what are we missing. We are not asking about outside investment s like bit coin. Please don't give unrealistic expectations for what employees can expect to earn. Sure you can put your whole salary into the 401k but at the cost of paying taxes on the money over 23k. Not many can afford to max out their 401k contributions much less put all their salary into it. The exxon 401k growth is slow because of the limited investment choices.
$180k in 2 years as an experienced hire, do the after tax Roth conversion, it will pay off big when you retire.
Total net worth over $5M. You can do it if you max max all accounts, invest after tax dollars outside EM, and live well within your means.
Anyone who thinks the numbers here are inflated doesn’t understand budgeting and investing.
- 5 after 22.5 years in with the Company. Was NSI'd out last year @55. Welcome to EM.
Tiger has Claws.
The $1M for the lump sum (have run the calc's but not taken it yet) is a pittance by comparison - although a happy pittance - better than a kick in the teeth, eh?
@2kjt+1vXdeh0G best reason to do after tax contributions is the in-plan Roth 401k conversion.
33 600k
IRS max since day 1, heavy into US equities. It would be really tough to have significantly more without after tax contributions.
And if you’re doing that… why? The investment options are dog sh-t in Voya
I believe some if these post are BS
Age 59, 3.4 mil., 33 yrs. of service, mix of XOM stock, S&P 500 index, extended market index, never sold anything, 18% contribution for 30 yrs. with 6 to 7% match, only regret is not contributing to Roth 401k which became law in 2006 but not sure when it was available in XOM plan. Retired at 57 yo.
11 years, $1M
The old employees before me had the benefit of buying stock at 5.00 and 6.00 per share. They also had like 3 or 4 stock splits over the course of 40 years. This along with the ability to work for 35 to 40 years at exxon without getting piped allowed these oldies to retire with 3 to 5 million dollars. I was a young buck when I worked with these guys who are now in their 70's and 80's. They taught me a lot about how exxon works both the good and the bad. I kept quiet listened and learned from them. it was not like now with the young ones who think they know it all. This generation x z or whatever they are called cannot be trained because they know it all. I miss the oldies and the old days.
14 yr; 670k. Been maxing only the past 6-7 years.
For all those mid career people sitting on 1 or 2 M$, congratulations but don’t presume this crazy bull market is going to run forever. Take some advice from an older guy who watched his early M$ go sideways for a decade: keep doing what got you where you are today…keep socking away that max. Not just the pretax max but also the post tax max with the annual Roth conversion. You’re going to need 5M$ to retire early a decade from now. Inflation is a B.
@odv+1vXdeh0G, I’m the one sitting on the 2.6. For advice, I always max out the pre-tax IRS limit. I usually maintain a 50/50 split of US small market and large market (the Voya overseas fund su-ks - it’s Europe and not emerging markets).
The reason my number is so high is I actually went all-in on XOM (not just pretending I did) during the pandemic.
Luck > skills any day.
Don’t feel bad. Some of these replies are either not true, include other 401Ks, or include a LOT of after-tax contributions above the federal limit. If the latter, would recommend diversifying outside the company 401k.
13 Years, 1.3M
Age: 30
Been with Exxon 5 years
Voya balance: $135k
Sure makes me feel inadequate seeing all these 30yos sitting on a milly
I contribute 10%. How much are yall putting in?
14 years, 1.4M in 401k
$15
32 years old and 600k in my Voya
@kbq+1vXdeh0G with $1.5M at 20 years you’re doing fine. You will get a least another doubling by 30 years plus continued contributions. You’ll finish around $4M + pension. Just keep doing what you are doing and life will be good.
12 years in 978K. I transfered 125k in when I joined. So in 12 years I made over 800k. I started at earlier so total years saving at both companies was 19 years. Don t think the value is due to the match. It was due to myself. Back in oct 2020 I bough Exxon stock at 35 .00 per share. A few years later I sold at 95.00 per share. I did the same with an outside investment account and made about 270k. I also made some money with bitcoin and doge coin. So with all of this and the lump sum pension I am sitting on 2.5 million waiting to retire. Financial freedom is priceless. I do not owe on anything. I am to put it simply free.
18 YEE
- 5 M
Wow. I am 20 years servixe but only 1.5M. If people posting are real, then I did poorly
35 yrs old
1 solid M!!!
Post your 401k balance with your personal info blacked out for the 40 year old saying they have 2.6 M.
Us not sharing finances, allows Exxon to have all of the control over the messaging on salary, pension, etc. Financial privacy is a fallacy here, designed to weaken your choices/power as an employee.
Age: 40 years
Balance: 2.6M
My 401k value is 10x my pension value. Not really a strong set of golden handcuffs.
19 YEE
- 4 $M
What a joke asking such.
Worry about your own finances.