Quit your job!

[James!]

This is part challenge, and part a request for support.

I don't like my job, and I'm going to quit!

Specifically, I'm going to quit and take matters in to my own hands.

I have worked a desk job for 10+ years, and the whole time I've felt like a square peg in a round hole. I wondered for a while if that restlessness was just immaturity, but now I realize that I'm not the problem.

So my plan is to quit, and do very similar work but as a consultant. It is going to be difficult, terrifying and maybe a bad idea. Or more likely it's going to be difficult, terrifying and eventually the best idea I've ever had! I'll have more details to share after I've officially made the transition. For now I just want to put it out there, say hi, ask for a push, and if anyone else is going through or considering something similar I say go for it!

Another fun perspective on quitting. http://freakonomics.com/2011/09/30/new-freakonomics-radio-podcast-the-upside-of-quitting/

Cheers,
James

[Gone Fishing]

I can't really encourage without some 'stache details...but I hope it works out well!

[James!]

What do you want to know? I'm not being intentionally vague, I just have no idea if co-workers are on here and I don't want "I'm going to quit soon" to turn into being fired. :-)

[Retired To Win]

I did this twice.  Each time, before I quit the job I had I made sure I had at least 1 consulting client in the bag.  Luckily, neither time was I constrained from doing that by a contract clause with my employer.  I just had to be discreet about what I was doing.  Which was NOT soliciting my own employer's clients.

Even more important than the fact that I would have some consulting income lined up from the start, seeking clients before quitting my job proved to me that I had a sellable proposition and that I was business-credible.

Good luck.

[jordanread]

Um...last day is Friday.

For me, it started with negotiating from a position of strength. I got moved, and wanted to negotiate the newly required commute. While reaching out, I got an offer for more money, no commute, and more closely aligned with my passions (coding). So...does that mean I win?

Do what is right for you James!. If you hate your job, and are less than 12 months away from catching FIRE, suck it up, but if not, make life awesome, even before you retire. I have found that those who consistently work in a job they hate, with the end goal of catching FIRE have more issues adjusting to a truly free life. I'm not saying they aren't right, but here is something that I've spent a fair amount thinking of. If you can't find the little bit of happiness in the day to day, regardless of the money, you'll most likely have some issues retiring early. It comes down to the difference of running from something, and running to something. I'd suggest taking a week or two, and posting in the following threads every. single. day.

Life is awesome...here's why
What made your day

[Retire-Canada]

So my plan is to quit, and do very similar work but as a consultant.

I left the army after 10yrs and haven't been an employee since.

No regrets.

The pay, freedom and tax deductions are awesome!

Job security is an illusion. If you are awesome you'll have work whether you are an employee or a consultant.

If you suck it will be hard either way.

I behave like a client can ditch me any time they want - because they can. I don't let that phase me because I also know that I am usually one of the most productive/capable people in the room so why would they not want me on their team?

-- Vik

[libertarian4321]

I've done this a couple of times, but I was FI, so it was no big deal.

Finally found a job that let me do pretty much whatever the Hell I wanted to do (within reason) and got "furloughed" (basically, the same as "laid off" or "downsized" except theoretically I should be called back, eventually).

As long as you have the money to be able to not work, why not go for it?

If you don't have the money, though, it's a bit risky.

[James!]

I appreciate all the thoughts, support and suggestions!

First, a few notes. I'm not FI, or anywhere near it. I need to gather all my numbers for a case study, but the short answer is I'm 30, with ~220k in Net Worth. Lots (LOTS) of earning potential in consulting, and that's part of the goal for the transition is to accelerate the timelines, but the primary motivation is to have control over my work/life balance, and reap more rewards (non-financial) from my efforts.

As for life, I love it! I am super happy. I'm just not finding enough motivation in working for someone else, so I'm doing something about it.

There is a ton of risk. I just had a baby and I'm the primary provider for our family, but risk is what makes life interesting! :-D

[KMMK]

Already done. My last day is March 31. Then I work for myself plus do whatever I want.

[kib]

There is a ton of risk. I just had a baby and I'm the primary provider for our family, but risk is what makes life interesting! :-D

Blink blink ... how interesting does your spouse find this?

[James!]

There is a ton of risk. I just had a baby and I'm the primary provider for our family, but risk is what makes life interesting! :-D

Blink blink ... how interesting does your spouse find this?

She is in full support! One of the many reasons I'm the luckiest guy around. We've got some savings, I'm great at what I do, and I thrive under pressure.

What could go wrong? :-D

[Retired To Win]

... I'm just not finding enough motivation in working for someone else, so I'm doing something about it.
There is a ton of risk. I just had a baby and I'm the primary provider for our family, but risk is what makes life interesting! :-D

And risky?

You wrote that you've got "some savings."  If you are going to try consulting as a new business, you might crunch the numbers to confirm that you've got a year of expenses in reserve.

Good luck.

[James!]

... I'm just not finding enough motivation in working for someone else, so I'm doing something about it.
There is a ton of risk. I just had a baby and I'm the primary provider for our family, but risk is what makes life interesting! :-D

And risky?

You wrote that you've got "some savings."  If you are going to try consulting as a new business, you might crunch the numbers to confirm that you've got a year of expenses in reserve.

Good luck.

Thanks!

I definitely don't have a years savings liquid, but I have probably 5 or 6 months. I also have quite a bit of home equity. I'm considering taking out a HELOC before pulling the trigger which would be more than enough cushion. I have ~200k equity in our home.

I'm working on developing potential contracts before making the jump to ensure a smooth transition.

-J

[Retired To Win]

... I'm just not finding enough motivation in working for someone else, so I'm doing something about it.
There is a ton of risk. I just had a baby and I'm the primary provider for our family, but risk is what makes life interesting! :-D

And risky?

You wrote that you've got "some savings."  If you are going to try consulting as a new business, you might crunch the numbers to confirm that you've got a year of expenses in reserve.

Good luck.

Thanks!

I definitely don't have a years savings liquid, but I have probably 5 or 6 months. I also have quite a bit of home equity. I'm considering taking out a HELOC before pulling the trigger which would be more than enough cushion. I have ~200k equity in our home.

I'm working on developing potential contracts before making the jump to ensure a smooth transition.

Good!

One more thing.  Give your current basic living expenses a thorough "frugalistic review" and crank them down some more -- if possible -- before you let go of your paycheck.

Good luck!

[iknowiyam]

... I'm just not finding enough motivation in working for someone else, so I'm doing something about it.
There is a ton of risk. I just had a baby and I'm the primary provider for our family, but risk is what makes life interesting! :-D

And risky?

You wrote that you've got "some savings."  If you are going to try consulting as a new business, you might crunch the numbers to confirm that you've got a year of expenses in reserve.

Good luck.

Thanks!

I definitely don't have a years savings liquid, but I have probably 5 or 6 months. I also have quite a bit of home equity. I'm considering taking out a HELOC before pulling the trigger which would be more than enough cushion. I have ~200k equity in our home.

I'm working on developing potential contracts before making the jump to ensure a smooth transition.

-J

Thank you for posting this! I gave notice recently with nothing lined up and a supportive spouse. I hope this goes okay for everyone here who is moving on from their job!

[BlueHouse]

Good luck with your plans.  One important part:   if you think you're working for yourself as a consultant, you're probably mistaken.  If you're at all interested in having "satisfied customers", then your customer is your boss, and they can be both easier and harder to say no to. 
If you figure out your boundaries before you start negotiating, your demands are much more easily swallowed.  For instance, some basic things that I wish I had started with from the beginning:
1.  Travel time is billable.  expenses are reimbursable.
2.  I work on administrative things/in the home office/something else on Fridays (that's my way of telling customers that I won't work on Fridays...it doesn't always work, but it's worth trying.)
3.  Billable time comes with minimums of 1/2 days/full days/weeks/or month by month.  I have one client who often wants a 1 hour meeting at their site in the middle of the day.   That's not productive to someone who bills by the hour.  Some of my work is cyclical, and many customers want to hire one week per month.  Problem is that every customer wants the last week of the month.
Good luck!


 

[Retired To Win]

Good luck with your plans.  One important part:   if you think you're working for yourself as a consultant, you're probably mistaken.  If you're at all interested in having "satisfied customers", then your customer is your boss, and they can be both easier and harder to say no to...

It's the deadlines that are the joy killers.  And a lot of the time they are not based on anything very real. (A good deal of the time, they make my consultant wife nuts.)