How Quitting a Job Changed Their Personal Finances

[Blackeagle]

Lots of fairly mustachian adaptations to lower incomes post-Great Resignation in this article: cutting back on spending, relocating to a LCOL area, side hustles, income from investments.

https://www.nytimes.com/2022/08/22/style/quitting-personal-finances.html

[lifeisshort123]

I had the opportunity a year ago to follow some of these “great resignation” paths.  I found myself too young to make such a dramatic leap, and don’t envy it.  I find my work rewarding and it does make a difference, which matters to me.  The pace is quite a bit, but I would prefer something a bit more self-directed.

I’m impressed that some people make the plunge.  Turning down $100k in annual income is a huge deal, especially to still have to work after it.

[clarkfan1979]

I had the opportunity a year ago to follow some of these “great resignation” paths.  I found myself too young to make such a dramatic leap, and don’t envy it.  I find my work rewarding and it does make a difference, which matters to me.  The pace is quite a bit, but I would prefer something a bit more self-directed.

I’m impressed that some people make the plunge.  Turning down $100k in annual income is a huge deal, especially to still have to work after it.

One of my tenants is a software engineer. He just quit a 100K/year job in a MCOL area to enroll in a Masters Program in Computer Science at a large state University full-time. He will be making a 15K/year stipend as a grad student. I was impressed. 

[Wolfpack Mustachian]

I had the opportunity a year ago to follow some of these “great resignation” paths.  I found myself too young to make such a dramatic leap, and don’t envy it.  I find my work rewarding and it does make a difference, which matters to me.  The pace is quite a bit, but I would prefer something a bit more self-directed.

I’m impressed that some people make the plunge.  Turning down $100k in annual income is a huge deal, especially to still have to work after it.

One of my tenants is a software engineer. He just quit a 100K/year job in a MCOL area to enroll in a Masters Program in Computer Science at a large state University full-time. He will be making a 15K/year stipend as a grad student. I was impressed.

Indeed - that's hard core. It's easy to say "you could handle that", but the only way we've been able to handle a significant pay drop due to voluntary changes has been when it just cut into our savings percentage - we didn't need to become more frugal to survive cash flow positive. To take such a massive pay cut in stride is really impressive.

[lifeisshort123]

Yeah…. You have to be really passionate about what you are going to do.  I’ve seen some people do it to do a wholesale career change (lawyer turned teacher, etc.).  The interesting thing is, I think in most instances, those who do that, do it for a period of time, knowing that they are already FI.  It is truly a “fun hobby”.

I recall one time listening to Dave Ramsey and a fellow who was an engineer was really burned out.  He said he wanted another job, and wanted to just go work at Wal-Mart or Target and earn $12/hr because he “didn’t need the money” and was burned out.  Ramsey told him he was a lunatic and would despise that job.  And, if I recall correctly, that he still needed to work.