Getting good compensation for our time and energy is the reason why we get up every day, go to work, and try to pay all of our bills. For me and for the vast majority of us, it’s an endless challenge to get a good paying job (one we actually like) and then to be paid or compensated fairly for what we do and have it be enough to cover the wants and needs of life! To put it simply, it’s a struggle, but what choice do we really have but to do it? Unless your name is Rockefeller or Donald Trump Jr., not much. So we may know about compensation, but what about deferred compensation?
Compensation vs. Deferred Compensation
We understand what compensation is pretty clearly. It can be money, but it can be anything that is valuable and sometimes actually is just that. Vacations, cars, you name it. Now you and I may never see such things as part of our compensation, but some folks see them routinely. Hollywood and entertainment types get that kind of compensation in their contracts for employment and it is possible you may someday get a form of it as well. If you are good…and lucky, that is.
Continue reading“What Is Deferred Compensation and the Legend of Bobby Bonilla”