Tim Boyle, founder of The Boyle Group Wealth Management, has been working with employees of major oil and gas companies since 2007, and he has helped people transition from the working on the Slope and other refinery locations to new phases of career such as contract work, consulting on safety and shut downs, and simply retiring from the local refinery to enjoy the next stage of life.
Working in the oil refinery industry provides some fantastic perks in terms of income and retirement benefits, but it also presents challenges like shift work, time away from family, not to mention the strenuous physical and mental nature of the work itself. Effective financial planning during the demanding working years can make a significant impact on your financial options later.
Helping you achieve your highest probability of success is our focus. Retiring from a refinery is different than many other fields for a variety of reasons. For a personalized review of your situation, please reach out. The scope of our focus typically includes:
· Pension analysis and strategies for taking that benefit
· Asset location and tax efficient investing
· Early retirement/buyout package modeling
· Strategies for accessing retirement funds if a buyout or layoffs force an early retirement
· Evaluation of contract work options post retirement
The financial components are important, but of course there’s life to live as well. Maybe it’s due to the welcome time off after years of shift work, or maybe it’s just a fun-loving group of people who get into oil & gas in the first place, but lifestyle and toys are part of most of the retirement plans we build. Fishing boats, vacation homes, RVs and motorcycles are more common than not. Having a realistic idea of purchasing, enjoying, maintaining, and eventually selling these types of assets is important to making sure your retirement goals and corresponding financial plan really work the way you envision.
If you’d like to hear how this process might work for you, schedule an introductory call here.