If your employer offered you your yearly salary in a lump sum payment--would you take it?

Question

Assuming of course if you quit or get fired you owe what byou havent worked, all sick and vacation time is as normal, and Overtime would either be paid as you go or added to next years salary

Answer 1

No because I would spend it all. It's better to get it in increments, that way, you save some and spend some.

Answer 2

I'm thinking that I would if I could find a bank that would take the money and add interest to it while still letting me withdrawal a division of that money every time I need to....If you can get a setup like that I would take the money as you could end up earning more in the long run. hope this helps! EDIT: Still thinking about your question and just wondering if taking out the whole sum would affect how much tax they took off the check.

Answer 3

HECK YES! If it means lump sum at the beginning not at the end.
It would do much better getting interest in my savings account than in the employers bank account.
I would invest most of it and put some in a savings account and draw from there as needed.
oh God I wish that were possible. And yes I would be disciplined enough not to spend it all.

Answer 4

Yup, I would pay my mortgage for the year, so that I would save on paying some interest and I would put the rest of the money in an interest earning account and live like i normally do. I'm a pretty disciplined spender.

Answer 5

There are a team who promote of television, which includes JG Wentworth. notice that i'm no longer recommending them or the different such business enterprise. additionally notice that they are going to take assorted funds faraway from you for doing this. they do no longer in basic terms supply you the sum of the the rest money. additionally, you're able to flow right into a greater advantageous tax bracket.

Answer 6

Absolutely! If invested properly you can make 10-20% in a relatively conservative portfolio in this market. Even in a high yield savings account you could make around 5%.

Answer 7

No. I already get paid once a month and still manage to be broke within two weeks. Now way. Giving me that kind of money all at once, I would be homeless within 6 months. lol!

Answer 8

my gut is to say yes, but quit or get fired and having to pay it back makes me rethink it. plus i have problems with money any way. i guess what i am saying if had a choice in the matter, then no would not take it. rather weekly or bi-weekly.

Answer 9

NO BECAUSE I WOULD SPEND IT ALL BEFORE THE YEAR WAS UP.

Answer 10

oh hell no , if you give me all that money ( I make 87,000.00 a year) i would be broke *** hell