There has been a 10,000 reduction in staff since Q3 2025 (227,000). How close is the firm to the 20,000 reduction in staff goal?
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@fw 4.2M NVDIA did some heavy lifting for me the last 8years even as I sold off 50% of my position in to the Q’s along the way. I’d still be nervous if my wealth was all in my IRA but I’ll inherit more than that from a brokerage acct.
I wasn’t until the last year when things got so toxic that I really started putting #’s in to excel. Built a he-l of a spreadsheet watched a lot of you tube retirement videos and compared my scenario with retirement tools from Fidelity and Boldin. Really suggest if your starting to think about it that you started with a detail budget think about the things you want to spend on that you haven’t because of work (travel hobbies) and the use those retirement tools. If you’re an experienced and well read investor you don’t need a financial advisor.
@be how much did you have when u decided to retire? $2M, $4M, more?
@a1 it will stop when Jane gets tired of firing people and laughing about it
150K or bust!
Not me! I had the good sense to retire in Jan. My reasonable advice if your are over 58 and been saving and investing scrupulously you are likely ready to retire. Depending on how your accounts are structured. (More Roth and brokerage) you are likely going to die with a multiple of your current net worth. Should be able to support an annual draw of 5% in the early years after which it will naturally drop.
Also helped to have a large inheritance in the near future.
Honestly at 62 it’s been one of the best decisions I ever made (except for the fact I wait 2 years longer than I should have).
thank you for posing these, it's good to keep track of things.
@a2 Jan 2027.
@a1 When is the divesture expected to be finalized?
@OP We were at 240,000 at our peak. Don't forget the Banamex divesture will drop the headcount another 40K or so. That will put us at 177K after the divesture is complete. And they're not done cutting. When will it stop?