Enough!! quit the corporate rat race If
Enough Quit The Rat Race If
For many people an early exit from the corporate world simply is not in the cards, but others may be able to leave the rat race behind. If any of the following five signs apply to you, it might be time to rethink your day job and move on to the next chapter of your life.
#1. You Have a Great Idea and You Are Already Making Money with it
Whether you have invented a better mousetrap or found an underserved business niche, you may be ready to leave the corporate world behind when your side gig starts bringing in some serious money. If the money you make in your sideline business is as much or more as your corporate salary, moving on makes a lot of sense.
You will have to budget for things like taxes and other expenses. The self-employment tax takes many small business owners by surprise, and the unpredictability of entrepreneurial income can be problematic as well. But if you are good at budgeting and confident about your business, moving on from the corporate world could be the best thing you ever do.
#2. You Have Plenty of Savings
Having plenty of resources certainly gives you options, and it makes the exit from the corporate world easier and less stressful. If you have enough savings to provide a steady income, you can kiss the corporate world goodbye and pursue your passions. Whether you plan to stay retired forever, start your own business or just look for a more suitable job, a cash cushion can make the decision a lot easier.
You will have to do some calculations and determine exactly where your post-corporate income will come from. If you can generate sufficient income through investments and interest, you can feel pretty confident about the decision. If not, you may need to stick it out a few more years and focus on saving more money for the transition.
#3. You Have Found Your Dream Job
If there is a field you have always wanted to break into, try making a few inquiries while you continue to collect your corporate paycheck. Putting out feelers, making contacts and networking with people already employed in your dream field will get you ready for the next chapter of your life.
Once your inquiries start paying off, you can start pulling back from your corporate job and focusing more and more on what you really want to do. When the offer for your dream job does come through, you can talk to your corporate boss, give your notice and move on to a new and exciting new adventure.
#4. You Can't Stand the Thought of Another Day at the Office
No job is worth sacrificing your physical or mental health. If you dread getting out of bed every day and dragging yourself in to work, finding a way to leave the corporate world will improve your life dramatically.
You may need to make some drastic changes to make it happen, but quitting a job that leaves you physically and mentally exhausted every day has its own rewards. It may be worth it to cut back on expenses, give up the second car or move to a smaller home if it means leaving the corporate rat race behind and finding a job you actually like.
#5. Moving Up the Corporate Ladder Holds No Interest for You
If you look at the upper echelons of your company and see heartache instead of opportunity, it may be time to move on to greener pastures. Not wanting to move up or get the next promotion is a sign you will never be happy at the company you work for.
Whether the solution is starting your own business or just finding another job, getting out of your current toxic environment can be a positive step. You will need to prepare for the transition carefully by beefing up your emergency fund and building up your network so you will be ready to make the transition when the time comes.
Leaving a good job and a steady paycheck is rarely easy, but if you recognize any of the warning signs you might want to consider making the move. Being stuck in a job you hate can be worse than the financial pain of cutting back or making less money. If you truly know yourself, you will know when it is time to step off the corporate treadmill.
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