Four Questions Every Schlumberger Employee Should Answer Before Retirement

Use This Guide To Make Sure You Are Prepared For Retirement

As a Schlumberger employee, you have worked hard to achieve where you are in your career. As you look towards the next phase of your life, the uncertainty that comes with retirement can sometimes be unsettling. Before you say farewell to your fellow Schlumberger employees and move into retirement, here are four questions you should have answered.

Do my Schlumberger Retirement Benefits allow me to live the retirement I envision?
This question seems easy on the surface but can be challenging to nail down on your own. You will need to consider if you plan on keeping a lifestyle similar to the one you live now or if you plan on making significant changes such as moving, buying a vacation home, traveling the world, or starting a new hobby.

There are other expenses you might currently have that will go away in retirement. It is essential to take inventory of your current spending habits and how you plan to live in retirement to develop financial goals and have peace of mind. By sitting down with a financial planner, you can better identify your yearly cash flows and goals in retirement. They will help you determine the best saving methods to fund your retirement goals. The sooner you consult a financial planner, the greater the likelihood of reaching your retirement goals early or on time.

What will my Schlumberger Retiree Medical Plan cover, and what will it not?

While you might be in good health now, that might not always be the case. Few people think and plan for future health costs they might incur. Whether it be long-term care provided in a facility or medical expenses related to an injury or illness, health-related expenses must be added to one’s financial plan. While Schlumberger offers retiree medical plans, these can sometimes have inadequate coverage or not be the most cost-effective option available.

How impactful is my Schlumberger stock on the legacy I would like to leave?

Often Schlumberger Retirement Benefits alone are not enough to allow you to leave the lasting legacy you desire. Having a financial planner can help you navigate your specific retirement goals and identify the steps you need to take to achieve your particular legacy. A financial planner will also work with you to help set up your legacy in the most tax and cost-efficient manner. A person’s legacy can vary dramatically depending on the person. Whether it be paying for your grandchildren’s college, providing for a loved one when you are gone, giving a large donation to a charitable organization, or being known as a world traveler, you will need to plan for the expenses created by the desire to achieve these goals. The last thing you would want to have happen is to leave your loved ones with nothing, knowing that with a little bit more planning, you could have provided for some of their needs.

How should I optimize my Schlumberger Retirement Benefits with other retirement strategies?

Many factors calculate a Schlumberger employee’s ability to reach their financial goals. Schlumberger has many retirement benefit programs to help its employees reach these goals. Some of the more common benefits Schlumberger provides are their 401K program, Employee Stock Purchase Program, Restricted Stock Units, or Incentive Stock Options. While these are helpful financial tools that can be used to achieve retirement goals, they can sometimes not be adequate on their own. Sometimes the answer to this question requires an employee to implement retirement strategies outside the Schlumberger organization to meet their goals.