Quit Your 9-5 Day job now!
Posted: February 14th, 2010 | Author: Mo2 | Filed under: Finance, Planning | Tags: Finance, Passive Income, Quit your day job |As I was sipping my tall dark coffee this morning pondering about yesterday’s article about coffee drinking and saving money, it occurred to me how much life would be better without a 9-5 job. 9-5 is a generalization and in reality many of us work different kinds of hours, it could be a lot earlier, in the middle of the night, you name it, but in a way it’s still a “9-5” job. Can you quit your 9-5 job? Should do? Let’s talk a little and find out.
Work and how it can take its toll on you
Jobs are tough. Just look at everyone you come across in a day, the barista at the coffee shop, the paperboy handing out free newspapers, the security guard, the receptionist, the grocery clerk, businessman in cubicles, and so on. Every single one of these people are going through work that they might not be enjoying but they have to do it because they need to make a living. It’s a cruel world that we live in, but that’s the rule of society, or is it?
Find the Job that You Love!
This isn’t exactly quitting your 9-5 job, but it’s probably one of the best alternatives to it. By finding the job that you love, you can actually enjoy your time at work and make money at the same time! Hallelujah! If you currently aren’t in this position, and most of us aren’t I can say with confidence, take time out of each and every single one of your work days to think about what you really want to do in life! This process will make life a lot more fun and help you move to newer heights!
One of my dreams is to be able to write on this very blog and have tens of thousands of readers dropping by to see what I have to say everyday. It’s a tough goal, but I’m glad it’s something that I was able to realize. So put some thought into what you want to do in life!
Quit Your Job Altogether!
That’s a bold statement. It’s crossed my mind recently, and I’m sure it’s crossed your mind before as well. And to be honest, you probably shouldn’t quit unless you know exactly what you’re going to do next and know how you are going to support yourself. When I’m in trouble in life, I always take a step back and think about one thing. We only have one lifetime, and it’s a waste to be doing something that you don’t enjoy and love so sometime sacrifices are necessary. But be smart with the sacrifices you make, because many of the things you throw out the window, you aren’t going to be able to pick back up in one piece, if at all.
To be able to quit your job altogether, you have to first plan and work on your next step. If you have a goal or dream then start doing research on it and find out if it really suits you. For example, if you want to stop working in a cubicle and want to become a bartender, then try taking some classes or reading some books and make some drinks for your friends and family. See if you’re good at it and if you’ll really enjoy doing it all the time. Try doing it for free, if you really love something, money shouldn’t be the biggest factor.
Stop Working Altogether!
Ok, now we’re starting to push it. If you want to get to this point, you’re really going to have to be close to financial freedom. Financial freedom doesn’t mean you’re debt free, it means you are living off of your investments comfortably. This will take planning and discipline.
A great place to start would be by coming up with your portfolio number that I talked about in a previous article. Think about how much money you need to live off of your investments. You can also think about how you can reduce your expenses and costs and possibly maintain your current lifestyle without too many sacrifices.
Once you have a good idea, you can start saving up to achieve your goals. Achieving your portfolio number is no easy task, and it might even make you end up working harder and longer hours, heck even another job! But if you are disciplined enough, you will be happy that you worked hard and put money away since you’ll be retiring many years early and many times happier than the general public.
Mo2 Thinks
Quitting your 9-5 job might not be the smartest thing to do and frankly might not be necessary at all. Many of us enjoy working because of the various people we work with and the positive experiences that we sometimes have. However, it never hurts to think about the better things you could be doing in life and about how life would be without work.
All of this ties into planning for your future. Think about where you want to be in 5, 10, 20 years and draw out a plan for yourself. By having a good idea of where you want to be in the future, you’ve already taken a big step in achieving that goal.
Take Action!
Write out your current job is, and if you are happy with it. If not, write out some of the things you enjoy doing and what professions and jobs are linked to these things. Write out all of your expenses and your current investment income (if you have any). Think about how you will do if you quit your 9-5 job and what steps would be necessary to make this come true. It’s a big step but it will be well worth it, if you don’t like commuting and working long and grueling hours. Take action now!
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