Thread regarding Occidental Petroleum Corp. layoffs

Future

I feel for our children, grandkids, and their children in the future with the amount they will be taxed, and their ability to get jobs that keep up with inflation. I was going to retire in 2023, but now I am sticking with it until I get chased off or inflation comes down.

I can make it into the office with no problem for three days. The bigger issue with us older ones continuing to work is that it cost younger people their entry into a good paying job. With my salary they could hire two younger people, so for the short-term that is is someone younger not taking my place.

It is just too unstable now to take a chance with retirement.

I see all the interns we have and they are really good, but they might hire 20 out of a 100, and there are many more on the streets looking for jobs after graduation. i was looking forward to retiring and opening the door for the younger people, but not right now.

I think this is going on with a lot of boomers.

by Anonymous
| 2921 views | | 4 replies (last December 12, 2022) | Reply
Post ID: @OP+1jCPaaam
Comment! It's anonymous!

4 replies (most recent on top)

Retire b4 u die

by Anonymous
| | Reply
Post ID: @xjek+1jCPaaam

I walked straight out of university in 1983 into an imploding oil industry. I learned my craft with almost no raises till 1988. New hires in 1989 were paid more than what they were paying seasoned professionals. Had to increase our pay to make us competitive with new hires! Industry was flat during the 90's...Lots of consolidation and downsizing. Lost many friends during layoffs that were too frequent to count. This generation is not the first to sail into headwinds; they will adapt and survive like professionals before them.
When we made it to the good times (2000-2014) I was smart enough to remember the two decades previous and started saving every bonus check I received, maxed out my 401k ...Was able to retire just fine.

by Anonymous
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Post ID: @6xqs+1jCPaaam

Your kids and grandkids will have jobs, and if you guide them maybe a high paying job too. If they go for social studies, maybe not. People with experience are not as valued and respected as before, so yes, hang in there until next age layoff.

by Anonymous
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Post ID: @1mvn+1jCPaaam

Your decision to continue work is sound from a financial point of view. However we don’t live forever and you cannot count on having good health and quality of life in the future. So don’t work until you die. My advice is to have a rational short term financial goal and when you reach that pull the plug on work.

by Anonymous
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Post ID: @mgb+1jCPaaam

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