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Job Update: Feeling Better

September 12th, 2016 at 02:43 pm

My boss came and talked to us this morning and I feel alot better about things now. He said that he doesn't feel like, if the sale goes through, that we would lose our jobs because he still needs assistants and such locally to help him. He also said that if the sale does go through, he is going to cut each of us a check for 10k and then in 3 months cut us each another check for 10k. And that isn't to help us transition to a new job, but just for our loyalty and help in growing the company. My mind is already racing about what I could do with that money. Do I put is in savings? Pay on my student loans? Pay DD's student loans and then pay for college? Put is a 401k? Pay on my HELOC loan? Pay of DD's car? The possibilities are endless. I haven't even gotten it yet and my mind is racing. It is so different from just a few years ago when I would have needed that money just to survive and get caught up on living expenses. I am proud of how far I have come. I still have a ways to go, but I know I will get there.

5 Responses to “Job Update: Feeling Better”

  1. Trying to get ahead Says:

    Wow! That's wonderful! Be careful because even though its a lot of money, it can go fast. If you don't already have 3 months expenses saved up, that may be a good place to start (just in case).

  2. creditcardfree Says:

    That's really interesting that you would get such a large bonus. Not any chance that is a ploy to make sure you stay during the transition. I'm not trying to be negative, but skeptical. Don't do anything until you have cash in the bank, and realize that there will be taxes withheld usually 40% when a bonus is paid out.

  3. scottish girl Says:

    I can see how your mind is racing, I think I'd be the same. I think you should consider using some of it as an emergency fund if you haven't got one already. If it were me, I'd pay down debt - which would help with living expenses - and fund my emergency fund.
    Good luck. I remember when my loan went into my account, how quickly that disappeared when I started making payments.

  4. Jenn Says:

    It's great to dream but remember that it isn't real yet the sale or the bonus. Maybe you could make a if-the-big-money-really-comes-through plan and set it aside just like the if-I-lose-my job plan. That way no matter what happens, you've thought it through and won't make emotional decisions in a hurry.

  5. FrugalTexan75 Says:

    If it happens, I personnaly would stash it somewhere r at least six months - just as a safety net in case I still lost my job. That would lso give me time to really strategize.

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