Build A Wealthy Spirit 153. How to Plan for a Work Break in 2024
We have been hearing from a lot of listeners that they are planning to join the “sabaddie” crew and are going to leave their jobs in 2024.
Other people have expressed concerns that there may be lay-offs at their job and they want to be prepared.
Regardless of the reason for leaving our job, there are steps we can take to prepare for our departure to make this process smoother.
- Pick a date
- I initially thought about leaving my job in December 2023. Once I picked that date, I started to receive signs that I should leave my job earlier. Once I moved up the date to September 2023 I felt much more content with my timeline. There is something about choosing a date that allows your intuition to speak.
- Choosing a date also helps you work backward and map out all the things that need to be done (moving, putting in your notice, taking PTO, etc) before you leave.
- Create Runway
- First, we need to calculate how much we spend monthly on average. This can give us a good idea of how much liquid money we need. Some people may be comfortable with 1-3 months worth of cash, others will want years and some people will want to be fully financially independent before quitting their job.
- Regardless of the type of person, everyone begins with estimating their monthly costs
- Exit Checklist
- This is a checklist that includes everything that needs to be done before leaving work. As soon as you pick a date, a million to-do tasks will start popping into your brain at random times. From scheduling meetings with HR to canceling gym memberships, all the things that need to be completed should not be stored in the mind. Create a document or spreadsheet and note everything that needs to be done.
- DO NOT TELL ANYONE YOU ARE LEAVING
- Tell only the “need to know” people until it needs to be shared with everyone. In some work scenarios, disclosing these plans could result in early termination/resignation.
Show notes
Community Time
- Thank you Julie for your comments on the Unconventional Choices episodes.
- Thank you Nate Bleadorn for your comments on Nick Gray’s podcast. Check out the Good People Summit that Nate mentioned.
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