Whether it’s Conan O’Brien or Jay Leno, you’re still an employee! Don’t take it personally!
If you are one of those million people who have been engrossed in this whole process of watching all of this drama unfold before your very eyes, you are probably saying to yourself, “Give me a break”.
You’re probably not moved by the fact that Conan O’Brien will be getting $45 million dollars to leave his job and Jay will get his old job back. It’s easy to look at their situation and think to yourself “Man, they got money coming out of their ears so why should THEY be pressed!”. This situation sounds ALOT like what we regularly see in professional sports. Big time athletes being bought of their contracts. We get so caught up in the glow of the money being thrown around that we still ignore one FUNDAMENTAL point.
THEY are STILL employees!!!
Wrap your brain around this fact. Conan sat and waited for the opportunity to move into this position. How many of you have found yourselves in this position where you are sitting and waiting patiently for your opportunity. You’ve been the model employee. You’ve worked hard. You’ve kept your nose clean. You’ve done everything you’ve been asked to do. Then, at the last second, something happens. A business decision. Nothing that relates to you but it is a decision. Now, all of sudden, you’re no longer the person being looked at for the job. Even worse, someone else is hired for that exact same position right before your very eyes. At best, you can wait patiently for your next opportunity. At worst, you would have wasted your time with the hopes and aspiration that that door may open again.
It’s easy to look at a pro athlete or a tv personality or even a corporate mogul and say, ‘they aren’t hurting. they getting paid’. However, money doesn’t always LESSEN the sting. Sometimes, the situation itself is a blow to your ego. It’s a blow to your emotions. It’s a blow to your reputation. Think about it. If you were waiting all these years for your chance and it passes you by, you would wonder (and others MIGHT wonder) if the problem wasn’t a business decision but maybe a lack of faith in your ability to rise to the occasion.
Taking money OUT of the equation, the simple fact is that we all tend to get emotional invested in our employment. Our jobs and our ability to do our jobs tends to be direct reflection on us. We don’t play around when it comes to that reflection. We know our job today will impact our jobs for tomorrow. We know that people look at us based on our skill, our position, and our status. Those things are personal and NO amount of money can remove that from us.
The hardest thing that alot of us will face is someone telling us that “business is business”. When you’re an employee, it’s a reality that you know but it’s also a reality that is hard to sometimes accept. When you’re an employee, you understand that a considerable amount of your livelihood is dictated by the impression and perceptions of others. So you do everything you can to make that a reality. Unfortunately, in the grand scheme of things, all too many times, employees find themselves in the tough position of taking a decision that is made above them personally.
No one is saying that you should be a robot and that you should disconnect your feelings from your job. It’s not an easy task to do. However, it is important to remember that at the end of the day, even though employers typically will look out for your well being, the viability of your employment is based on the bottom line. It’s not sexy but it is, what it is.
It’s important that you do everything YOU do to ensure that YOU strive to and continue to maintain the best image and reputation for yourself.
How does getting a lump sum of money affect my Social Security Benefits?
This topic can be really scary. You know the deal. You’ve busted your butt for weeks and months and maybe YEARs to get your disability benefits. Now, all of sudden, you find yourself in a position where you get a lump sum of money and you don’t know what to do.
The lump sum could be anything. It could be an inheritance. It could be a settlement. It could be a gift. How do you determine if you should tell Social Security about the money and what should you do?
Here’s a few things to consider:
1) Remember, Social Security is the federal government and the FEDERAL GOVERNMENT ALWAYS FINDS OUT!!
WHY?! WHY!? WHY are you going to try and run dirty with the federal government, man?? People don’t realize how many things are connected to their social security number. So if you get a ‘windfall’ (like the lottery, or a settlement, or inheritance), there is a PRETTY good likelihood that this information will be reported to the federal government. The information may be reported for tax purposes but if you’re on disability, you better believe that it’s going to filter down to the appropriate agencies.
2) Understand what Social Security disability program you are on.
Most people don’t realize that Social Security has several Disability programs. These different programs require you to be found disabled. However, each program has different requirements when it relates to money and income.
3) There’s a difference between REDUCTION, SUSPENSION and TERMINATION
Depending on the program, your benefits could be reduced because of the amount of money that you receive or the TYPE of money that you receive. Also, for some disability programs, your benefits could be suspended if you receive a lump sum of money. However, this suspension typically remains in effect until you spend all of the money down to a particular dollar amount. Once you have spent the money, you should notify the Social Security Administration so they can reinstate your benefits. Now, keep in mind this point. If your benefits are suspended for more than a year, Social Security will terminate your benefits. In other words, you will have to start over from scratch.
4) Call the Social Security Administration, don’t try to figure it out.
So many times people will receive a lump sum or they know a lump sum is coming so they freak out and are afraid to call Social Security. Under most of the disability plans, you probably won’t have a problem. However, it is much easier to alert Social Security BEFORE than after THEY find out.
5) If you get Workers Compensation or Veterans Benefits, make SURE you understand how they affect your benefits.
Let’s say that while your Social Security disability benefits was coming, you finally SETTLE a big Workers Compensation claim that you had going for a while. MAKE sure you have someone explain to you how your workers compensation benefits may cause an offset or reduction of your benefits. The same is true for Veterans Benefits. Some of the Veterans Benefits programs can count against your Social Security.
5) If you owe SSA money, they will get their money back.
If you get a lump sum of money and, if you know you are, CONTACT Social Security. Don’t wait around. If Social Security determines that you received money from them that you SHOULDN’T have received, they will take it out of your disability check and that is NOT a pretty picture.
6) Be careful if you’re on SSI
The program that is most effected by by WINDFALLS is “SUPPLEMENTAL SECURITY INCOME or SSI”. SSI is the program that is NEED BASED. It’s like a welfare program. So if you are getting SSI and then you get a lump sum of money, your benefits may be affected. Your benefits could be reduced or suspended.
7) If you get a lump sum, keep a check on your documents
Keep a record of the items you are spending your lump sum. This way if Social Security makes a big fuss about where the money went, you can show them.
Getting disability benefits is a long and tough process. Keeping those benefits may be tougher if you find yourself in a position to receive a lump sum. However, if you’re smart and pay close attention to detail, you should be able to navigate through the process with little issue.
