My company's board of directors gave me a nice bonus when they met last week. The best thing: I wasn't expecting a bonus. Yes, I had a couple of very nice wins going into the board meeting: I recently signed two important deals for my company, after months of hard work. However, this is not bonus season and given that my annual bonus was not paid last year - no executive bonuses were paid due to the economic situation - this really came out of the blue. What a nice surprise.
The cash is definitely nice, but what's nicer is the recognition from the company's board. These are all very seasoned and prominent industry executives. The fact that they recognized my performance gives me confidence that my efforts are appreciated - and better yet - that since these key industry players appreciate my work, they may help me further my career plans in the future.
Now to the task at hand. Unexpected bonus plans. What's to be done?
Option A: assume the house deal goes forward, spend the money on house upgrades
Option B: again, assume the house deal is a go, use the money to pay down the mortgage
Option C: buy a nice toy (new home theater?) and bank the rest
Option D: Save for a rainy day
Option E: Blow is all on hats (for the uninitiated, that's a line from the immortal movie "Hotshots" - one of the worst movies ever made).
I am leaning toward option C, but then option A is also in the game. Option B is enticing - especially given my post about the cost of a mortgage last week, but then my bonus after taxes is only going to be approximately two months of mortgage. Still, that's pretty large. I think I got enough hats, so option E is out for now.
Live a little or save? Advice anyone?
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