I’m about to quit my job and just want to game out the scenario and see if anyone sees any reason I shouldn’t leave my mind-numbing soul-sucking desk job. We're not FI yet, but we're in a strong position and I'm just not sure I can take any more of this.
Our current monthly expenses are about $3k a month. I’m sure we could get lower but we’ve been travelling a lot (figuring we can’t do that when we start a family). Take home pay while I’m working is about $5600. If/when I quit, that will drop to 2600 for the rest of the year but will go up to 3300 at the beginning of the year (we got behind on his 401k this year so are doing some ridiculous withholding to catch up).
Leaving work will mean an additional $330/mo healthcare expense for me. With a possible additional $4k deductible we would have to pay next June. Healthcare is not optional and getting a private plan is not optional, as I’m pregnant. Hopefully I can join my husband’s healthcare plan instead of Cobra-ing this ridiculously expensive high deductible plan but that’s not something we’ll have clarity about for a few more weeks.
So, when he gets back up to 3300/mo at the beginning of the year, we’ll be basically at the breakeven point every month. We also have $80k in cash/bonds so have a sizable cushion to fall back on to.
My assumptions are that I can reduce expenses a good bit by being home and not needing some of the crutches that stressful jobs require (less driving and eating out, cut the gym membership, etc.) and that I can always find ways to make some money on the side. My intention with this time is to explore things/jobs that I actually enjoy and find a way to make profit from them. I’ve always, always been the type of person that just finds ways to make money so I’m not worried. Perhaps that’s arrogant or naïve given the economy but MMM seems to make it work? So between less expenses and some found money every month, hopefully we maintain a cushion—right?
Firecalc tells me that we’re covered for traditional retirement (just leaving what we have in there and not touching it until 60) and don’t need to worry about contributing more on that front. Obviously I want us to be financially free way before 60 (I’m 29, FYI) but we’re minimally covered on the traditional retirement savings.
The rational, responsible side of me says that I should really stick this job out through the end of the year. I’ll have a much better health insurance option then (same monthly rate but no $4000k deductible), will make my employer happier and will have the added bonus of a few months more in saved pay. BUT, I can’t handle the job anymore. And I’m not doing it well anymore, and I’m going to get caught sometime soon and end up souring good working relationships because of it.
So, do I have permission to jump? Or do I put my big girl pants on and stay another 81 days? Or put on my even bigger pants and stay until this baby comes (late spring)?