I've thrown in the towel and my last day at work is around December 15. I may not be ready to go home but I'm ready to quit XOM.

I've been busy making myself a paycheck for next year. I can get a retirement annuity based on a 4% discount rate or a lump sum of approximately 6 years salary.

It wasn't much of a choice as the annuity doesn't increase and is guaranteed to decrease in purchasing power with inflation. I've getting the lump sum and will be investing in dividend stocks(ETF funds like SDY currently yielding around 4% or stocks like Chevron(3.5%), Proctor and Gamble(3.2%) etc. The ETF will likely keep pace with inflation and I am expecting dividends to increase as the economy recovers. XOM also provides the same medical coverage as an employee until 65 thank goodness.

I'll have to be content next year with citrus tree growing/selling, antique car restoring, home remodeling, and furniture making!

Wishing you well on your retirement Mr Texas! Now you will have more time with citruses, perhaps expand a lot more.

Investments are bad at the moment still lost about half. But I don't really know if I have retired myself. I do the things most people do on their retirement such as this plant hobby, wine making, fishing, multiple career interests, and still enjoying all of them like playing. But I haven't been an employee for more than 10 years now.

I guess I am retired when we'll have enough funds to travel to various parts of the world but that would be another 10 years when our youngest finish college.

So do you have plans to see the world?

My adopted boy and girl are 6 and 10 preclude seeing the world but I'm not complaining. We just got two foster girls, 3 and 4 to be with us about 6-12 months. It's much noisier around here but a very happy noisy!

This is the third time I've seen my investments go off the abyss, 1987, 2001, and now 2008. They came back in 1987 and 2001 and I'm sure they will come back this time. I highly recommend XOM stock paying 2.5% dividend and currently lagging the market having only recovered by about 27% to $70 from the low last November of $55 vs 50% for the broader market (I wish I had bought more XOM than 200 shares on black Friday last November when the Congress did not approve the bailout the first time and the stock market tanked). XOM peaked at $94 a share when oil was $140+. I expect oil to be $100+ when the economy recovers.

Forgot to mention that I also feel grateful and blessed to be a chemical engineer from the University of Washington in Seattle. Jobs have always been easy to find as there is a long standing shortage and the pay is exceptional. I think only medical doctors and very successful lawyers make more on average than engineers and the hours a a LOT better.

Phil, wishing you the VERY BEST in your retirement. You add a lot to this Citrus Forum, and now that you will have more time, we hope to see even more of you. The citrus trees that I have purchased from you over the years have all done well. Thanks for everything. The next time your in Golden, Colorado you can purchase another high well bike, so you and your wife can both take morning rides together. Take care. - Millet (1,194-)

Hooray for you, and I'm so happy to hear you are not going to be bored in your retirement. I volunteered for a layoff a few years back and it's been the best thing that ever happened to me. Life is beautiful! Summer vacation 365 days a year! Wahoo!

Congratulations! I hope you enjoy it as much as I do.