How do I quit my 9 5 job?

The first step to quitting your day job is finding out if there's another way you can make money without leaving your current position. If this isn't possible, then you must find an alternative that will allow you to live while making enough to get by and save for retirement. You need to be prepared financially so you can afford to take some time off from your regular employment. This article explains how to handle your finances when you're between jobs.

How do I prepare finances before I quit my job?

If your employer offers health insurance or other benefits such as 401K plans, these are great sources of income after you leave your old job. However, if not, you may want to consider getting additional life insurance coverage in case something happens to you at home or abroad (for example, your spouse dies). The cost of living expenses and personal debt payments could increase dramatically if you suddenly lose your source of income. You also probably won't have any savings left over to help pay for things like food, gas, rent/mortgage, utilities, credit card bills, car payments and vehicle maintenance, child care costs, etc., until you start earning again. Also, try setting up a separate bank account solely for "emergency" funds because you'll likely use those emergency funds only once -- during your transition period.

What should I do before I quit my job?

Before you jump headfirst into starting your own business, think about what kind of investment capital you already have available. Ask yourself whether you really need to go full-time now or whether you can wait two weeks, six months or even longer before taking the plunge. Your answer depends on several factors including but not limited to:

Your skills, abilities and expertise

Time commitment

Market availability

Budgetary constraints

Business experience

Startup funding

If your skill set includes coding software, programming languages, writing web pages, graphic design, photography, marketing or sales, perhaps you could sell your services directly to customers rather than going through a middleman company. Or maybe you'd prefer to build a website and market online instead of using traditional advertising methods. Maybe you don't enjoy networking or dealing with people face-to-face, preferring to operate remotely via email or phone calls. Whatever skills you possess and whatever type of service you wish to provide, you might be able to create value within your local community by offering your services either part-time or freelance.

But if you lack certain required technical skills, professional training, administrative support, management ability or a specific product line, you may need more startup capital. In addition, many entrepreneurs fail primarily due to inadequate financing rather than poor planning. For instance, you may decide to become self-employed because you believe owning your own small business would give you greater freedom and flexibility. But if you aren't willing to invest the necessary cash upfront to fund your new venture, you may end up working long hours for little financial reward.

Also, keep in mind that most businesses require some sort of seed money to kickstart operations. Whether you choose to start a new business or simply supplement your existing one, seek investors who understand the risks involved in running startups. They should know how much capital is needed to launch successfully and how quickly they'll begin reaping profits. And just remember, every successful entrepreneur has had failures along the road to success. Don't let fear prevent you from trying!

Is it worth working a 9 5?

There was a study done by the U.S. Department of Labor which showed that workers who were satisfied with their current positions earned roughly $30,000 per year less over their lifetimes than did workers unhappy with their employers. So does this mean everyone should immediately walk away from their 9 5 jobs once they realize they despise their jobs? Not necessarily. It all comes down to individual circumstances. Some people actually thrive doing unpleasant tasks for low wages. Other folks wouldn't survive very well under such conditions.

For example, if you've been laid off recently, chances are you haven't saved anything yet. That means you still owe lots of debts such as mortgage/rental payment(s), utility bill(s) and car loan/lease. If you've got no income coming in, you'll probably feel compelled to spend whatever extra money you receive each month on essentials like groceries, clothing, transportation, entertainment, etc. Although you may be tempted to splurge occasionally on fast foods, alcoholic beverages, designer clothes, expensive electronics, etc., resist the urge unless absolutely necessary. Unless you can come up with creative ways to earn money, avoid spending any extra money on nonessentials -- especially luxury items -- at least temporarily. Once you start receiving steady income, you can resume shopping normally again.

On the contrary, if you're employed or considering being promoted soon to gain higher status and salary, you can expect better perks and compensation packages upon departure. Therefore, you need to ask yourself why you want to change careers or levels of responsibility. Is it purely for monetary reasons? Do you desire a more challenging career path? Are you looking for increased fulfillment from your work? Perhaps you want to learn new skills for future opportunities. There are plenty of reasons to pursue a different vocation besides making money.

Another thing to consider is whether you truly miss having control over your schedule. Many employees mistakenly assume they can easily transfer their responsibilities back into their previous roles once they're unemployed. Unfortunately, too often this proves untrue since companies tend to move slower than expected when filling open slots. Often times, hiring managers or human resource personnel will assign temporary fillers in order to cover vacancies. As an employee, you usually can't request transfers back into your former role until the person responsible leaves his or her post. If you're sure you'd like to return to your prior occupation, inquire early about potential openings in advance of your resignation date. Keep in mind that seniority plays a major factor in determining where someone returns to work following a break.

Another important consideration when deciding whether to stay put or look elsewhere is whether you're contented with your current salary level. While many Americans continue to struggle economically despite recent improvements, the average annual household income for families declined 2 percent in 2009 alone. When compared to inflation rates, salaries today are lower than ever. A survey conducted by Career Builder found that nearly half of respondents said they planned to switch jobs in 2010 because of dissatisfaction with their present positions' salaries. Of course, it goes without saying that you should never accept a lower wage than what you're currently making.

Finally, if you're thinking about changing careers, make sure you thoroughly research the industry and its typical demands. To determine whether you're qualified for the new job, contact past bosses, colleagues and supervisors. Find out what types of education, certifications and degrees are typically required. Interview prospective employers in person whenever possible to see firsthand the actual workplace environment. Compare similar industries with your desired field to identify challenges faced daily by individuals in those professions. Then compare your qualifications against others in your area to see if you meet the same standards. Finally, check out the competition to figure out how tough it really is to attain a particular position.

Why you shouldn't work a 9 5?

Whether you're forced into unemployment by circumstance or decision, it doesn't always equate to a permanent exit from the workforce. According to a report published last February by the Bureau of Labor Statistics, approximately 1 million American adults voluntarily changed occupations in 2008. Nearly 250,000 of those changes occurred because someone lost a job. Another 600,000 people switched occupations because they wanted to be promoted or received a significant raise. These numbers reflect the fact that millions of Americans remain underemployed, dissatisfied with their current situation, or both.

Many people find themselves caught in a rut without clear direction or purpose after losing a job. After experiencing months or years of reduced earnings, many turn to friends and family members for assistance. But depending on whom you approach, the results may vary greatly. Sometimes relatives and close acquaintances offer unsolicited advice regarding what you should or shouldn't do next. Instead of seeking approval from loved ones, experts suggest asking yourself three simple questions : What am I good at? What do I enjoy doing? Why do I want to do it? By answering these questions honestly, you can uncover hidden talents and passions that can lead to lucrative opportunities.

Additionally, consider exploring options outside of the conventional employment sector. Start browsing classified ads and websites such as Craigslist.org, Kijiji.ca, Backpage.com, Gumtree.co.uk, Trade Me.govt.nz, Free Ads UK, etc., to discover alternate ways to generate supplemental income. Look for unique ideas such as selling homemade crafts and artwork, freelancing as a writer, photographer, artist, researcher, computer technician, massage therapist, video editor, interior decorator, handyman, nanny, pet sitter, consultant, masseuse, cook, gardener, chauffeur or tour guide among others. Consider joining an affiliate program for free membership sites such as MySpace, Facebook, Google AdSense, eBay Partner Network, Amazon Associates Program, Clickbank Marketplace, Commission Junction, LinkShare Marketing Solutions, Yahoo! Affiliate Programs, etc. You can search for programs by category or keyword term.

I have been in this line of work for over 20 years now.  As an employee, there are few things that make me happier than when my employer tells me that we will be moving on within two months or less.  The excitement of knowing that I am about to move up into another position is overwhelming!   But what if you don't know how long you want to stay at your current job or where you would like to go next?  If you are anything like I was twenty five years ago, then you may feel stuck right now. You might even feel trapped because you think that you either need more experience or perhaps you just aren't good enough yet. The truth is that many people leave jobs every day without any idea as to what they really want out of life. They simply know that something needs to change. But often times, these changes never happen once those folks get back home. So what's wrong here?  

 This article is going to help you figure out how to QUIT YOUR JOB INSTANTLY. It won't teach you how to walk away from your job gracefully...that's something only YOU can learn to do. This article will give you some tips on HOW TO QUIT A JOB INSTANTLY so that by the time you finish reading, you are already looking forward to getting started on your new career path.

How do you quit a job instantly?

In order to quit a job immediately, you must first decide exactly what type of career you want to pursue. If you haven't done this step, then please stop wasting your precious energy thinking about leaving your job. Go ahead and pick up the phone and call someone who could potentially hire you. Your goal isn't to find a "job" but rather to create a brand new opportunity for yourself. Once you've decided which direction you'd like to take, then you'll be ready to start building your resume and interviewing skills. In other words, you're not searching for a job anymore, instead you're searching for a business partner. Don't worry, there are plenty of great opportunities waiting out there for anyone willing to put forth effort and hard work. Just remember that you cannot afford to wait until tomorrow morning to begin making decisions today.          

Now that you've taken charge of your future, let's talk strategy. What steps can you take immediately after accepting employment elsewhere? Here are three important ones:  

Set Up Direct Deposit          

It's very easy nowadays to set up automatic deposits directly from your paycheck to one of several different bank accounts. Make sure that all of your direct deposit information is updated. Also, consider setting up online banking so that your checking account balance updates automatically each payday.   

Create a Portfolio          

A portfolio is nothing fancy - it's basically a collection of resumes, references and samples of your best work. Ideally, you want to gather everything together in one place so that potential employers can view everything at their leisure. Keep everything organized and neat.   

Get Ready To Interview          

There are hundreds of places available to interview. However, most companies require that you fill out an application prior to scheduling interviews. Be prepared to answer questions regarding why you wish to relocate, why you left your last company, etc. Most importantly, be honest in answering these questions. Do NOT lie or exaggerate facts.   

Once you submit your application, keep track of your progress through email reminders sent monthly. When you receive a positive response to your application (which means you were accepted), congratulations! Now sit down and write a follow-up thank-you letter thanking the hiring manager for his/her consideration. Then ask him/her to send you additional details about the position, including salary range, dates of your trial period and expectations during the orientation process. Send your follow-up letter via certified mail; include return receipt.   

Keep in mind that every organization has its own procedures. Check your local laws regarding sending such letters to ensure compliance. Some states allow employees to legally request resignation forms through the U.S. postal service.    

How fast can you resign from a job?

You probably saw the movie Office Space starring Ronny Cox. That scene is hilarious because the main character works in an office environment. He loves his co-workers and he thinks his boss is wonderful. Yet, somehow he gets laid off. His reaction to being fired is priceless. After walking outside to catch a cab, he looks around at the old factory buildings, crumpled paper cups and broken glass littering the streetscape. Then he says to himself, "Well, this sucks!" And indeed it does suck. The sad thing is that many people actually believe that their job is their soulmate. They spend half of their waking hours working toward their goals and dreams while living paycheck to paycheck. Only to realize later on that they weren't meant to live this kind of lifestyle forever.  

So what happens when you finally accept that maybe your dream job wasn't meant for you? How do you handle this emotionally? First of all, you shouldn't beat yourself up too badly. Everyone experiences emotional ups and downs in life. We tend to look forward to our big paydays and sometimes we forget about our real priorities. Second, understand that you made the best decision possible based upon the knowledge that you possessed at that point in time. Thirdly, try to identify what went wrong and use that knowledge to improve upon your weaknesses. Finally, remind yourself that you CAN achieve success IF you keep moving forward despite obstacles along the way. 

Take heart in knowing that everyone struggles at some point in their lives. It doesn't mean that you failed as a person no matter how bad you felt after losing your job. Instead, focus on learning from this experience and applying the lessons learned to your next endeavor. There are thousands of successful entrepreneurs and individuals throughout history who had negative experiences early on. Think of Bill Gates, Michael Dell, Oprah Winfrey, Richard Branson, Steve Jobs, Henry Ford, Walt Disney, Larry Page, Sergey Brin and Mark Zuckerberg. These men didn't become overnight successes. Instead, they used their failures as stepping stones towards greater accomplishments. Remember, you are not alone. Many others faced similar challenges and overcame them successfully. 

What is the smart way to quit your job?

Most people fail to properly plan for retirement because they assume that Social Security will provide adequate income. Unfortunately, millions of Americans are counting on Social Security benefits to support themselves well past their 65th birthdays. The problem is that many retirees rely solely upon Social Security payments to survive. As Baby Boomers reach age 65, they are expected to consume approximately $2 trillion dollars worth of healthcare services between 2011 through 2020. With annual inflation rates averaging 4% per year, seniors' health care costs continue to rise faster than wages. Currently, fewer than 40% of American workers contribute to personal savings plans. Even worse, a recent study found that nearly 1 in 3 senior citizens did not purchase an insurance policy specifically designed to protect against losses due to longevity risk.  

Fortunately, there are ways to prepare for retirement beyond social security. For example, you can open individual retirement annuities (IRAs) that offer guaranteed lifetime income streams. Such products typically feature higher initial premiums plus surrender charges. On top of that, IRAs usually limit the amount of withdrawals you can make annually. Other solutions involve converting traditional 401k plans to Roth IRA formats. Because contributions are tax deductible, conversions result in lower taxable earnings. Additionally, investors can withdraw funds penalty free anytime without incurring taxes and fees. 

One final option involves purchasing private equity investments. Depending upon your investment objectives, you can tap capital appreciation and dividend yields. Over time, your returns can exceed 90%. All told, these strategies offer high levels of flexibility and liquidity. Ultimately, you choose which approach works best for your unique situation. 

How much money should I save before quitting my job?

Before you pack up your desk and head for greener fields, it's imperative to determine whether or not you have sufficient liquid assets to sustain you at least six months following your departure. If you answered yes, then you can proceed with confidence. Otherwise, read on to see what else you should do.  

First, calculate your total household expenses. Include mortgage payment(s), utilities, food, transportation, credit cards, medical bills, school loans, property taxes, car loan repayment(s), charitable donations, entertainment and special purchases. Next, subtract your fixed monthly obligations (mortgage, rent, utilities, debt repayments). From the remainder, add discretionary spending allowances for groceries, gifts, dining out, gasoline, movies, electronics, clothing, gift giving, charity contribution and recreational activities. Divide the number produced by 12 to arrive at your average monthly budget expenditures.  

Next, tally up your net profit margins. Take the sum total of all gross profits earned minus all payroll deductions and miscellaneous overhead costs. Subtract your liabilities from the remainder. This produces your adjusted gross margin. Lastly, multiply your adjusted gross margin by 30 to establish your minimum required monthly cash flow.  

I have been in that same type of position for over five years now.  It's not easy to go from having a good paying job to being unemployed. It is difficult because I am used to working hard all day long just to pay bills but now I don't want to work anymore! The stress, low self-esteem, frustration...it wears on me down very slowly until one day when things really hit the fan and I realize there must be something better than this life style. I was tired of feeling trapped by circumstances beyond my control. So how did I end up in that situation? Well here are some tips if your looking at quitting your job or thinking about getting another job.

How can I get out of my 9 5 job?

If you're asking yourself "how do I quit my 9 5 job?" then you've probably already tried leaving your job before. Maybe even several times. If only you knew what you know today.   You might find it easier to leave your current job first instead of trying to start a new career from scratch. You may also need to reevaluate your goals and priorities in order to afford living expenses while searching for employment. This will help keep you focused on finding a real opportunity rather than becoming distracted by expensive housing, furniture etc. That will take away focus and energy. The more realistic and affordable you make your lifestyle, the faster you'll see results.

What would happen if you took care of your basic needs first? Achieving financial stability could increase your confidence levels which would lead to increased opportunities and ultimately, success. Don't wait around hoping for luck. Take action today!

How do you live comfortably without a job?

Once you are financially stable, you should feel free to pursue other options such as starting an online business. This way you will have time freedom so you won't miss out on those great deals. So why spend $500 on rent/mortgage payments each month when you can save thousands per year?

There are many ways to earn extra income including freelancing, selling items online (eBay), affiliate marketing, home based businesses, network marketing, consulting, blogging, coaching & mentoring, promoting others products and services, etc.

Doing any of these things full-time is called passive income. For example, let's say you wanted to sell books through Amazon.com. What if you were able to generate enough sales to cover your cost of goods sold plus a small profit? Then you wouldn't have to worry about ever going back into the workforce again. Now imagine doing this part-time after hours while spending most of your evenings watching TV or reading magazines.

But remember, passive income requires consistent effort and dedication -- and persistence -- to succeed. And unless you are independently wealthy, your profits will vary. But the important thing is to stick with it and learn from your mistakes. Keep track of everything you do and try to improve upon your weaknesses. Once you master the basics, move onto the next level. As your skills develop, you'll become increasingly confident in your ability to reach higher goals.

A word of caution though....don't fall prey to short cuts and scams. Do research thoroughly to avoid falling victim to unscrupulous individuals who promise quick riches overnight. There are too many stories floating around everywhere of people losing hundreds of dollars due to investing in programs that promised big returns but didn't deliver. When it comes to making money online, follow the rules. And never give anyone else access to your bank account. Use secure payment processors to protect against identity theft. Also use a reliable web host company that doesn't close shop unexpectedly. Make sure you read reviews and testimonials written by satisfied customers.

And lastly, always put safety above everything else. Never invest more money than you can lose. No matter how tempting it seems, stay away from high risk investments. Your best bet is to stick to safe bets such as mutual funds, index stocks, bonds, annuities, CDs, GICs, Treasuries, and government savings bonds. These investment vehicles offer steady growth rates with minimal risk. They usually provide little excitement and require almost no active management. With a little discipline and patience, you'll build wealth that keeps building throughout retirement.

How do you make money so I can quit my job?

Now that we got rid of our fears, lets talk about how to create multiple streams of income and quit our jobs. In addition to the ideas mentioned earlier in this article, here are some additional ways to achieve financial independence.

1) Start a blog. Blogging has exploded in popularity recently. Millions of people worldwide write blogs every single day. Why shouldn't you join that crowd? Write about topics related to your interests. Build connections with readers. Become known as an expert in your field. Develop relationships with companies that share similar values. Be authentic and transparent. Share your experiences. Give credit where credit is due. Respect copyright laws. Always ask permission whenever appropriate. Try to include videos and photos wherever possible. Remember, quality content attracts quality visitors. Quality visitors convert into quality leads and qualified prospects. Qualified prospects turn into quality buyers.

2) Sell stuff. Selling on eBay, Craigslist, Facebook garage sales, yard sales, consignment stores, flea markets, car boot sale, charity shops, auctions, etc., is a proven method for generating cash quickly. Check out sites such as Ewen Chia's How To Create Passive Income Online. He has compiled tons of valuable information regarding different methods of creating passive income.

3) Get paid for referrals. This strategy works well for both B2B and B2C marketers alike. If someone referred you to a product or service, consider referring them to another product or service that provides a solution to whatever problem brought you to the site in question. Or refer them to a helpful resource. People often appreciate knowing that someone went out of personal way to assist them. Plus, it builds credibility and trust. Just think about it - if you found a website offering a solution to your problems, would you continue visiting that site regularly or would you look elsewhere for answers? Of course you'd seek solutions elsewhere. Therefore, you deserve compensation when helping others solve their problems.

4) Offer discounts and special offers. Most retailers and restaurants rely heavily on coupons and discount codes to attract new customers as well as retain existing ones. Many consumers prefer using coupons to saving money by buying store brand products. Here's an idea: offer coupon codes specifically designed to attract certain types of shoppers. Think along the lines of niche market targeting.

5) Join a Network Marketing Business Opportunity. Have you heard of Amway, Avon, Herbalife, Mary Kay Cosmetics, Pampered Chef, Tupperware, Dollar Shave Club, Taser International Inc., Travelocity, American Express, Google, Apple Computer, Microsoft, Disney World Resort Florida, Johnson & Johnson Healthcare Products, Procter Gamble, Best Buy, Wal Mart Stores, Target Corporation, Toyota Motor Sales USA, Kodak, Nokia Phones, Harley Davidson, L'Oreal, Subway Sandwich Filler Up, Campbell Soup Company, Office Depot, Home Depot, Colgate Palmolive, McDonald's, Burger King, Wendy's, Blockbuster Video, Sears, Kmart, Old Navy, Nordstrom Rack, Zappos, Dell Computers, HP Printer ink cartridges, Sony Electronics, Circuit City, Radio Shack, Staples, Newegg, Toys R Us, Auto Zone, Costco Wholesale, Ace Hardware, Walmart Supercenter, and Nike. All of these companies are highly successful and worth researching further. Some of them are household names, while others aren't widely known outside of specific industries or niches. However, all of them have experienced tremendous growth within the past few decades. One of them might be right for you.

6) Invest wisely. Money isn't everything, but it certainly matters. Having lots of money means nothing if you're miserable. You want to enjoy life, not simply survive. While earning large sums of money is wonderful and desirable, accumulating piles of assets does not guarantee happiness. On top of that, having lots of debt is extremely dangerous. Not only does debt limit your future earning potential, it can destroy your peace of mind. Debt causes anxiety, depression, poor health, diminished creativity, fear, insecurity, loss of hope, lowered self esteem, lack of fulfillment, bankruptcy, foreclosure, repossession, violence, suicide attempts, substance abuse, divorce, separation, domestic violence, crime, gambling, eating disorders, obesity, loneliness, isolation, and despair.

7) Live below your means. Spending less than you earn is a simple concept yet few actually practice this principle. Living under your means allows you to allocate resources toward activities you truly value, whether directly or indirectly. By focusing on areas of interest, passion, purpose, meaning, and joy, you strengthen your sense of accomplishment and satisfaction. In other words, you get more bang for your buck.