The Golden Handcuffs- (aka the golden handshake) are financial incentives that are given to employees as a way of discouraging them from leaving their current employer. As a result, most people come to the conclusion that they can’t quit. If they did,  they’d loose their benefits and the financial impacts would be too severe!

Like lifestyle creep or trying to keep up with the Joneses, golden handcuffs are a trap that many employees fall into.

Common Types of Golden Handcuffs

Above market pay

Company cars

Tuition reimbursement

Forgivable mortgages

Stock options

Sign-on bonus

Performance bonus

Yearly bonus

HOW TO ESCAPE?

1 – Review Your Budget

Track your spending

2 – Increase Your Cash Runway and Emergency Fund

3 – Make Yourself More Marketable

4 – Schedule Some Personal Time and Consider

5 – Make the Change