Is 2020 a chance for you to quit your job? Is this the right time to stop being an employee? Well, it depends on many factors. If you are not yet sure about quitting your job this year, you must be able to justify your reasons. Leaving your job just because you are tired will affect your financial decisions in the future. This is not good ethics as well if you want to be financially free. So, before you decide you submit your resignation letter, make sure to check what’s on this blog.
Catch me in my live training events! (quick plug)
The heart of why I do these seminars is I want to build a generation of Filipinos with the right foundation in stock investing. I want to bring smart investing to every Filipino around the world! If you would like to know more about how you could time the market check out the training below.
Stock Smarts Taiwan – February 15, 2020
Stock Smarts Manila: March 14, 15, 21, 22 & 28, 2020
Stock Smarts Singapore: May 16 – 17, 2020
Stock Smarts New Zealand: June 6 – 7, 2020
Stock Smarts London: April 18 – 19, 2020
Quitting your job without a replacement is a bad decision. If you have been employed for a long time and it’s the only source of income you have, you must highly consider finding a replacement job. This works for most people, even with OFWs I met. I know some of you are doing this so you can find a good career opportunity and better income and that’s fine. The more you crave for higher earnings, the more you will find the best job that can satisfy your needs. Remember to find a replacement job first before you quit!
Before you pass your resignation letter on your manager, ask yourself—what are my other options? Most people permanently leave their job because they choose to do business, focus on stocks trading, do full-time investing, and so on. These are other alternatives to being employed. Focusing on passive income rather than active income will help you earn bigger and better. So even before you leave your job, ensure that you already have a foundation of your passive income channel. You can start opening an investment account, outlining your business plans, or checking if your savings are enough to buy properties.
Do you have extra money to pay for the cost of being unemployed? If you don’t have a savings account, do not quit your job yet. Give yourself time to save money and be able to accumulate enough funds you can use to look for other alternatives. If you are planning to look for a replacement job, you must have enough cash to pay for the expenses when you apply to different companies. If you are considering investments and stocks trading, you must have a sufficient amount to open an account. Before you quit, you must be ready to take a new step. Else, your poor decision will only make things worse for you.