The Money Mustache Community

Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: hamildub on April 27, 2015, 11:08:48 AM

Title: Quitting my job
Post by: hamildub on April 27, 2015, 11:08:48 AM
I've been at this job for 2.5 years and for various reasons I feel its time to move on.  I started the discussion with management so as not to shock too much and hopefully help them ease the new person into a better setup than I have.

I previously ran a little landscaping company that wasn't super successful, mostly due to laziness. I am quite a bit more encouraged to make it succeed than before.

At the same time I can't help thinking about trying different opportunities, though I really have no idea what to look for or where.

I'm not quite 30, and the prospect of restarting a career is a little scary but I feel like I'm not earning to my potential at this point anyway.

Any Thoughts? What did you do when you felt stuck In a rut?
Title: Re: Quitting my job
Post by: StudentofFreedom on April 27, 2015, 12:44:17 PM
I'm in a similar situation.  Late 20's and sick of my job even though it's pretty comfortable and pays well.  I'm not sure how you feel about the industry you're in, but I feel burnt out on my industry and I want to do something completely different.

I've been tutoring on the side to help me increase my 'stache faster. ($30-$50 per hour)
I'm working on two other product-based startups.  Not sure where these will end up.
I've also been applying MMM learnings to lower my spending.

My plan:
Pay off my house in the next 5 years, then quit and survive on my side income while I work on my businesses full time.

My wife also works and pays a portion of the bills, but if the house were paid off, I would be able to pay my share of the bills with tutoring.

I don't know how much of that applies to your situation, but maybe it gives you some ideas.  Good luck!
Title: Re: Quitting my job
Post by: hamildub on April 27, 2015, 02:33:41 PM
Unfortunately I don't see enough upside in my job to make it worthwhile staying. Too much commute for too much stress and too little pay, some vague promise of waiting for positions to open up.
I'd love to look into other types of businesses that I could start, I feel rather lost on that right now.
Title: Re: Quitting my job
Post by: okits on April 27, 2015, 10:47:18 PM
You could devote all your time to finding your next path, or make sure you still have something on the go (current job, landscaping business, something else) while you try to figure out your next thing.  You may achieve more clarity and focus if you're devoting all your time to figuring things out, but practically, you need a means of support (income or savings), and employers prefer hiring those who already have a job.

I will say that starting over at 30 is easier than starting over at 40, 50, etc.  You may have to try and discard a few things.  You may have to pick something and run with it before you have decided it's what you want.  You may randomly stumble across something you find interesting and compelling.

Forum members joke that they're all engineers/INTJs, but I do think there's decent diversity on here.  So there's a wide variety of experience and knowledge you can learn from by reading posts about people's primary careers, post-ER pursuits, side hustles, online businesses.  You may come across something you didn't know existed or was viable.
Title: Re: Quitting my job
Post by: mxt0133 on April 27, 2015, 11:46:21 PM
I'd spend the hour or so listening to this podcast by Joshua Sheats where he give advice to 16 year old entrepreneur.  I'm not implying that you are immature or a 16 years old, but the advice he gives applies to anyone that is somewhat lost in their income earning prospects or potential.

Summary is if you want to increase your income you are going to have to create enough value through work, knowledge, skills, ect so that someone is willing to pay you at the rate you want.  To get there you have to build up your knowledge and skills little by little.   It may not seem like you're not making progress the first month, six months, year, two years, but eventually those little increases in your ability to create value will be enough if you keep at it.  You also have to consciously set a goal of increase you earning other than hoping for a raise or a job finding you.  You have to set a goal and work on ideas of reaching that goal.  In the interview he says set a goal and list 30 ideas that will get you there.  Look at it and pick a few that you like and then create more ideas on how to achieve those.  Eventually you will get down to something small enough to get you started but still put you on a path to reach your ultimate goal.
Title: Re: Quitting my job
Post by: hamildub on April 29, 2015, 08:41:49 AM
That was an awesome interview. I added Radical Personal Finance to my podcast roll.

It's funny how if you open your eyes opportunities will present themselves and I've already had a few float my way.