Time for a career pivot? Not sure if you are financially prepared before you quit your job? Regardless of your career field, it's not an easy decision to take a leap of faith. Those golden handcuffs are no joke! I get it. Here are 5 things I learned from my career pivot....
First, this is my story...
I tried leaving the corporate life 3 times. The first time was ugly and messy. Second time was a little better. Third time was the charm.
I was finally able to leave a career that was no longer a good fit. More importantly, it was time to get away from East Coast winters!
So I quit my job, sold the condo and moved across country. I gave everything away and just shipped my car. Join me in my new chapter as a financially independent woman in sunny California!
In my mid-30s, I reached financial independence retire early (FIRE) by creating multiple income streams from investments and side hustles.
By financially independence, I'm referring to having enough income to cover all living expenses without having to work for the rest of life. In sum, work is optional for someone who is financially independent.
#1 Money Mindset Tip for Future Corporate Dropouts
Soon after becoming financially independent, I became a Corporate Dropout and never looked back. Today, I enjoy running two businesses, not being told what to do, and most of all, freedom over my own schedule.
1. Get the right support network.
When I quit each time, I didn’t tell my parents and some of my closest friends. I knew that telling them would lead to overwhelming concern and nagging.
Instead, I told them after the fact. It wasn’t easy for them to hear and accept but they eventually accepted my decision.
Having a solid support network is probably the most important yet most overlooked key to not only getting your financial ducks in a row, but also to becoming a Corporate Dropout.
Maybe you have no idea what you want to do next. Perhaps you want to take a year off to reset. Or start a business. But right now, you don't know up from down. I get it. In the midst of office politics and work frustrations, it's hard to figure out the next step.
Ready to get your finances in order before you take off the golden handcuffs? Grab my FREE E-Book titled Corporate Dropout: How I Got My Finances in Order Before I Resigned.
Let's talk resignation timeline, money mindset and emergency savings.
I became a Corporate Dropout in 2019 and never looked back...and yes, I had no regrets even during 2020 when things were looking bad for the economy.
Today, I help future dropouts get their financial ducks in a row before they quit.
Ready to dropout of corporate too? Maybe you have no idea what you want to do next. Perhaps you want to take a year off to reset. Or start a business.
But right now, you don't know up from down. I get it. In the midst of office politics and work frustrations, it's hard to figure out the next step. So join our community where we'll cover personal finance, career pivots and money mindset tips!
3. Get your short-term finances squared away.
First, get clear on your short-term financial goals. What are your short-term goals (5-10 years)?
Specifically, what’s your planned timeline to re-enter the workforce? Do you plan to buy a home in which you would need more liquidity in assets for that down payment?
If I could recommend only one tip for future Corporate Dropouts, it is to take small but consistent steps each day towards your money goals.
This could be developing your money mindset, contributing to your retirement, or working on your side hustle.
Not sure where to start? Grab your FREE E-Book! Corporate Dropout: How I Got My Finances in Order Before I Resigned.
4. Have a rough idea of your long-term financial goals.
It’s hard to plan so far out in advance. Anything can happen in the next few months. But it’s still important to have a rough idea of your long-term financial goals in order to have a foundation for your future.
What are your long-term goals (10 plus years)? Do you see yourself staying in the same industry? Same city? Starting a family?
The trend toward a gig economy is real. Maybe everyone around you is a #girlboss. If you never want to step foot in an office again, what would you do?
5. Read the FREE Corporate Dropout E-Book
About to take the leap? Already resigned? When it comes to being a dropout, there’s one thing I know for sure. It’s not as easy or glamorous as it seems on the surface.
Whether it’s dropping out of Corporate or college, there’s a lot of unknowns involved. They say fear of missing out (FOMO) is a real thing. Well fear of the unknown is also no joke.
For the rest of my story and to learn my money making strategies, access my free E-Book!