I would update your resume with your current job now, not when you're applying in a year, so you remember things better. When you do interview, build a narrative around your year off that focuses on learning new relevant skills.
This is a good idea! Thank you. I'll read that pre-FIRE checklist too.
Does your employer have a Leave Without Pay option? Always nice to keep the door open if something unexpected happens.
Just checked. They will hold my position for 2 weeks. HAHA! They do have a medical leave of absence that is up to 12 weeks... But I feel like I'll still feel locked in doing this route.
Regarding the resume gap; when I took a gap year I was afraid of this too. Guess what? Once I started sending applications I got invited for an interview for every single one I sent (4/4).
This is great to hear! The US is very judgmental over resume gaps (or at least there is fear or anything non traditional like gap years)... But there is a local tech city, which is full of millennials, which I would believe they'd understand.
If you are choosing when to quit, I think shortly after the beginning of a calendar year is the optimal time - max out retirement accounts, HSA, and take advantage of yearly benefits without paying the premiums for a full year (eye, dental, Max limited FSA and/or child care and won't have to pay the balance throughout the year).
I 100% agree. I can contribute 90% of my paycheck to my 401k as well, meaning I can max my HSA, 401k, and earn $12k in taxable income and take the standard deduction (no tax). It's optimal to wait... I don't think I have it in me to wait that long. Quitting mid year isn't the worst route tax wise.
No advice to offer, just wishing you the best of times in your year off.
Thank you! It's honestly nerve wracking to do it... But so exciting to kind of "restart" my life. Maybe I'll get refreshed and jump back into finance... Maybe I do something totally different.
Skimming your last threads you've moved up fairly quickly. If you take a year off, you probably won't come back quite at what you left at. I may be wrong.
I am currently being overpaid according to glassdoor/payscale/talking to coworkers, by about $20k. It'll be sad to pass that up... But I think I'd be even more disappointed if I stayed (Bahhh but I see the potential of grinding for 3 more years to quit, forever).
I bet I'll still be here for about a month. Want to make sure I execute everything properly.