If you had the options, which of these would you pick
1. $75,000/yr (before taxes) - you get this regardless of whether you work or not. Your income is 75k/yr for life. Never goes up, but it's guaranteed for your entire life no matter what else you do or what happens.
2. $200,000/yr (before taxes) - starts immediately, but you have to keep working your current job. If or when you leave the job this stops, and you no longer receive any money. Even if you get another job you just get whatever that job pays. So if you work at McDonalds you only get 200k for as long as you work there, if you ever try to leave McD's the deal is off. Once you retire from working this ends. If you don't have a job then you have to get one in order to get the 200k, and it only lasts for as long as you stay at that first job you get. Has to be a fulltime job and being self-employed doesn't count.
Which option we going with? Stack at the current job for X amount of years (even if you hate it) or take the lifetime option?
1. $75,000/yr (before taxes) - you get this regardless of whether you work or not. Your income is 75k/yr for life. Never goes up, but it's guaranteed for your entire life no matter what else you do or what happens.
2. $200,000/yr (before taxes) - starts immediately, but you have to keep working your current job. If or when you leave the job this stops, and you no longer receive any money. Even if you get another job you just get whatever that job pays. So if you work at McDonalds you only get 200k for as long as you work there, if you ever try to leave McD's the deal is off. Once you retire from working this ends. If you don't have a job then you have to get one in order to get the 200k, and it only lasts for as long as you stay at that first job you get. Has to be a fulltime job and being self-employed doesn't count.
Which option we going with? Stack at the current job for X amount of years (even if you hate it) or take the lifetime option?