WWYD: 1Mil yr job or wait for a check?

[bsfins]

Strange out of the blue scenario...

The choice is...
1.) Take a job,with the opportunity to make 1 million dollars in 2014 (working from January through December).The job is your to keep,if you can handle it...

 Clarification- It's not a Porn Job, Photo shoot naked,a job in your current field (or a field of interest to you),just ramped up to make it worth paying you the high salary.It's not your current job paying you 1 mil dollar salary,it's like your bosses,boss type stress,long hours,etc,etc.You still have have to pay all your normal income taxes,SSI,Federal,and state or local taxes...

2.) A check of 1 million dollars will be paid to you on Jan 1 2017...you still have to pay all the taxes on the money...

Do you take the Job, or wait out the money?

[Brian Fein]

I guess I'm a bit confused.  Am I to assume that I get paid 0 until January 2017?  Or do I keep working as current?  And is the 2017 payment a one-time payment?  And what do I have to do for the 1 time payment?

[bsfins]

Yep, you live your life just as normal,but you have to wait 3 years to get the 1 million dollar check...1 time payment...

[BeefStewert]

I hear you asking if I would rather work to earn something now or be given it free in 3.5 years.  I would wait 3.5 years to be given it free.

If I had to crank up my current work by 8x in order to earn this, it would probably result in me getting a divorced and definitely being absent for my children.  Aren't they who I really work for anyway?  What would be the point? 

[Buddhagirl]

Free is for me.

[Spider-Dan]

So basically, I can quit my current job for a year-long extremely stressful job (after which I will be unemployed?), or I can wait 3 years and get a million dollars for free?

I feel like the punchline is missing.

[Phishfan]

(after which I will be unemployed?),

I think you missed read that portion (unless you are admitting you would have no plans of keeping the job).

I would really have to judge the hours/ stress thing accurately. I am all for giving some extra time on ocassion but there are many people who just put too much time at work and put that on themselves. The additional work hours actually cut your level of performance. If I stayed in my current job and just switched into the role of boss, I think I may actually take the job. I enjoy it and I know my boss takes a few vacations a year so while she works hard, she doesn't kill herself in order to do so.

[Brian Fein]

Its:

a) work a stressful job for a million a year for as long as you want starting today

or

b) work your current job for your current salary and get a one-time payment of 1 million in 3 years.

I don't know why anyone wouldn't choose B.  There's no repercussions.

[Dave Gray]

Tough question.

I think I'd wait and take the money later.  My parents are older and they live right across the street.  If I had big money now, I'd be tempted to move into a house or something, which would take me away from them and I'd see them less.

I'd also like to force myself to live small for a few years, knowing that help was on the way.

[bsfins]

To Brian's questions...
Opportunity to make more than 1 million dollars.You're not going to be able to spend that 1 million dollars for 3 yrs,so time.....

How important is the money,as Beefstewart mentioned...You're going to sacrifice a lot for that opportunity.

My take...
I joked, I could wait out the 3 years,but I'd stress myself out thinking about it......I would be more than happy with $150,000 to $200,000 (buy a couple newer used vehicles,and a house,hopefully have a little emergency money, I'd be tickled pink)...I'd try to see if I could make it 3-4 Months.I don't like the field I'm in,I think I could find a way to make it work for a few months....My initial instincts are to work for every dollar,earn everything I get...

Never mind I asked...

[Dave Gray]

The time value of money, Brian.  If you have a mil to spend now, you can earn Interest on that that that probably equates to around $50,000.

[Brian Fein]

Fine, but you might die of a heart attack in the next three years after working 90 hours per week for the next 170+ weeks.

There is no option to get the million now without the job.

[Sunstroke]

I compartmentalize work stress extremely well. If I had a good chance of continuing that million-a-year job, I'd take the job. To me, the equation becomes "Relax, and get $1 million three years from now," or "Work hard, deal with the stress and potentially make $1 million every year for the next three years."

I'll take the job...stress be damned.

[Dave Gray]

^ You may.  I am not saying it's the better choice.  I was just disputing that there was no upside to taking the money immediately.

[Phishfan]

^^^ There is no option where you get the money immediately as I understand it. Taking the job meant paychecks totally $1M. The free option meant waiting years for it.