Most of us have dreamed about walking away from our job at one time or another. Even if you have a great salary, great benefits and fun coworkers, your job can be a drag if you’re not passionate about it.
So you always think of reasons to stay and avoid the prospect of financial crisis. Here are 5 good reasons for leaving a job on your own terms.
You can have a plan in place.
Maybe you’re worried about losing your job. Maybe you aren’t. But the truth is, even the best employees can get fired or laid off.
You can get a new boss who’s out for your blood. Maybe your company’s being restructured. Maybe technology has made you obsolete. Or maybe the next financial crisis has come along.
You don’t want to sit around and wait for this to happen. If you make a plan and end your corporate career on your own terms, you can have a clear idea of how you’ll earn money. Wait until you get fired and you’ll just end up at the unemployment office. Leaving a job on your own terms is the best way to avoid getting laid off.
You can leave the stress behind.
You already know corporate jobs can be wearing. And if you’ve already been at it for decades, the impact of long-term stress on your health is probably adding up. Employers spend $300B/year in stress related health care for workers.
If you decide to end your corporate career and pursue your own business, you can leave a lot of work-related stress behind you. You’ll have no looming deadlines, no boss watching over you. You can work how you want, when you want, and where you want. Maintaining health and peace of mind are very good reasons for leaving a job. to And you can start building real capital to safeguard yourself against financial crisis.
You don’t have to burn bridges.
If you do eventually get fired or laid off, it’s safe to say you’re not going to be on good terms with your old boss and coworkers anymore. But if you quit your job on your own terms, you don’t have to burn bridges, and you avoid getting laid off.
Sure, walking out with no notice isn’t going to work. But if you give notice, talk to your boss frankly, and show respect for the company as you leave, your career can end on a good note. This might be important if you like your boss and want to keep friends. But it’s also valuable to have a network of allies in the corporate world for when you go into business on your own.
You can start pursuing your dreams.
Only 13% of people around the world actually like going to work. But most of them will never quit, because they can’t.
But you can. If you have passion about a business idea, you can take the leap to make it happen. You don’t have to keep suffering at a job that doesn’t inspire you.
Anyone (I mean it, anyone) in the US with an education and a great business idea can become an entrepreneur. Smart entrepreneurship and investments are the best ways to ride out a financial crisis.
You might inspire others.
I know a lot of corporate workers, especially later in their careers, worry about what their colleagues would think of them if they walked away from the job. You have a nice salary and a pension you’ve been paying into for decades, so why leave?
But if you make the leap, and actually find happiness doing something else, it’s actually more likely to inspire others. Rather than criticize you, they’ll admire you, and may even decide to leave the corporate world behind themselves.
Did you think these were good reasons for leaving a job? Don’t wait for the next financial crisis. Make the leap and start pursuing your dreams now.
Ian Bond is a private banking senior executive with over three decades of experience in wealth and asset management with Goldman Sachs, Credit Suisse, and Citigroup. He has built major businesses on four continents.
Despite his professional responsibility for assets over $100B and revenues over $1B, after the 2008 crash Ian was personally going broke. Within five years he destroyed his debt, became an expat in 2014, and built multiple streams of income to fund his imminent retirement. Ian is also the founder of MyRetirementRehab.me created to help other executives and professionals rehabilitate their finances and make a prosperous, enduring retirement a reality.