I've been contemplating quitting my job and planning/executing different entrepreneurial ventures for about 6 months now. I feel like I'm right on the precipice of the cliff, but I'm stopping myself from leaping by having the big conversation with my boss. For the last 2 weeks I've been doing the following:
Weekday night: watch inspirational TED talks and go Yea, I can do it! Tomorrow I'm quitting! I can just get another job if money gets tight or do contract work! This will be the best 6 months of my life for sure!
The next day: ugh this is terrible, I hate being here. But I could do it for a couple more months at least right? If I had $15k more cash that would make it a lot less likely I'll have to liquidate any stocks. But then again I do have plenty of savings already. I'll just read an article about conquering fear and maybe I'll quit this afternoon?
That night: god dammit why didn't I quit? Oh well I can do it tomorrow. I know, I'll watch inspirational videos to help me quit tomorrow!
All these TED talks are wonderful, but I'm not really going anywhere. I feel like I'm in limbo and the only way out is to quit.
I'm just really terrified to spend my savings. I have valuable skills and I'm already generating $500/month with my side hustle after relatively few hours invested. I want to go at it full force, but being in quitting limbo is killing me! And it's not like I don't have a saftey net either. My backup plan would be to find a short term consulting gig or part time job if I don't generate enough income quickly enough. For some reason I imagine the money rapidly falling through an hourglass and evaporating all of a sudden, even though logically I have enough saved to course correct along the way.
In terms of savings, I have about $60k in liquid cash and stocks, and $140k in retirement savings. I spend about $40k per year.
Who else had experienced this, where you know that going through the fear is the right thing to do, but you struggle to follow through? Any words of encouragement would be appreciated!