Life Kit Can I afford to quit my job?
33 snips
Feb 28, 2023 Jill Schlesinger, a certified financial planner and CBS News business analyst, shares invaluable insights on assessing finances for those dreaming of quitting their jobs. She introduces her 'Fabulous Five' framework to help listeners navigate potential career changes with confidence. Jill encourages reflection on overlooked assets and financial foundations, emphasizing the importance of thoughtful planning. From her personal journey into media, she highlights the need for financial stability in transitions, urging proactive steps toward clarity and sustainability.
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Calculate Your Resources
- Calculate all your resources, including assets like retirement savings and equity in your home.
- Also account for potential income loss from benefits like subsidized healthcare or 401k matches.
Calculate Debts and Liabilities
- Calculate all debts and liabilities, including mortgages, credit card debts, car loans, and student loans.
- Acknowledge these debts but don't let them discourage you from considering a reset.
Evaluate Your Housing Situation
- Consider the implications of selling your home and how it aligns with your reset goals.
- Assess if renting might be a better option given your current mortgage and equity.
