I’m 24 and my boss offered me a quarter million dollar pension to work until 60.

So it’s not actually a quarter million dollars. <br><br>My boss offered me something called a 417e. The idea is that he’ll give my tax deferred compensation account a $40,000 contribution every year for the next 20 years. At the end of that, he’ll give me 40,000 a year until I die. <br><br>I have to be less than 40 years old at the time of the first payment, so it would be 15 years of receiving the annual payment from the time I can withdraw it. <br><br>I’ve run the numbers for expected value (both are unrealistically high, I know) and if I expect a 7% rate of return, then this pension would be worth over a million dollars to me by the time I die. If I live longer than my life expectancy, it would continue to pay out with no downward risk and only upside of extra value. <br><br>The catch is that I have to work for him until I’m 60. I don’t hate my job, but I don’t love it either - I’m a financial planner at a life insurance company so it’s kinda boring. <br><br>I can’t think of any other way for me to make a million extra dollars before I die, but the opportunity cost of staying with the same company for decades seems high. Any thoughts?<br><br><br><br>EDIT: Okay, just to clarify a few narratives about me:<br><br>I am NOT my boss. I am just an employee. It’s a small company (10-15 employees) and he’s throwing these out to several of his younger employees. He’s told me he’s paying me about six figures a year (and he’s paying himself way more than that), so it’s not a huge expense for him. <br><br>I am NOT lazy. I like my job (said it wasn’t my passion), but I’m a financial planner at a life insurance company. I work 40 hours a week and make six figures, and I’m 24. I’m not some entitled kid. <br><br>I am NOT ungrateful. My boss very graciously offered me this. It’s a lot of money, and I’m very thankful for him. I’m just exploring any potential downsides (stagnant career, opportunity cost, him dying/quitting/etc.).