For many people, quitting their day job is something like a dream. They’d love to walk into their office, look their boss straight in the eye, and quit right there on the spot. But, this scenario is often just a fantasy. Something people wonder about while waiting for a bus or in line at the grocery store. The truth is that few people actually go through with leaving a job they hate because they’re worried about their financial security. After all, if you don’t have a job, how can you make money? If you’ve ever asked yourself this question, then this blog is for you. Here’s how you can quit your job and stay financially viable:
Make Smart Investments
In an ideal world, investors would be able to “make their money work for them.” Of course, it’s not always that easy. Still, savvy investors can –– over time –– develop a system that delivers consistent, dependable dividends. Before you begin investing full time, make sure that you’ve done your homework on both the market and your target investments. Investing success is down to research –– not luck or intuition.
Freelancing can be a viable alternative to “traditional” employment, particularly for people who feel burned out in their current setup. As a freelancer, you’ll be able to set your own hours, work remotely, and negotiate directly with clients. Plus, you can say no to projects you don’t want to take on! Note, freelancing does present its own unique challenges. One day, you may be asked to design a web page about blood tube holders and the next write content for a real estate agent. But if you’re up for a new venture, this could be the best way to go.
Monetize Your Work
Say, for instance, that you’ve managed to create a reasonably successful blog in your downtime. If you’re looking to quit your job, but need some extra income to do so, then consider monetizing projects like these. Sell advertising space on a website you own, publish a book with useful information in it, or simply offer your services to businesses as a consultant.
There’s a time to stick with a project, and then there’s a time to cash in on it. Once you’ve decided to move on from your current nine-to-five, then it’s high time to cash in on investments you’ve made in the past. Sell off extra real-estate holdings, request debts to be repaid, and –– in general –– cash in on all the hard work you’ve done outside of your office. You’ve saved up for this moment, now make sure to enjoy it!
Tamila McDonald has worked as a Financial Advisor for the military for past 13 years. She has taught Personal Financial classes on every subject from credit, to life insurance, as well as all other aspects of financial management. Mrs. McDonald is an AFCPE Accredited Financial Counselor and has helped her clients to meet their short-term and long-term financial goals.