Great Resignation: How to Financially Prepare to Change Careers


Great Resignation: How to Financially Prepare to Change Careers

If you are part of the "Great Resignation", clearly you are not alone. According to the Bureau of Labor Statistics, more than 3.6 million people quit their jobs in May. A recent report by Monster.com indicated 95% of workers are considering leaving their jobs.

So when is the best time to change careers?


Regardless of your career field, resigning from any job position can be a big decision. While there's no "right or wrong" time to resign, there are many things to consider to determine an ideal time and date to leave.


Some resignation factors depend on whether you plan to quit without another job lined up and the length of your financial runway. One thing I learned from my past resignations:


Time your resignation based on what makes most financial sense for you.



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I tried leaving the 9-5 grind 3 times.


The first time was ugly and messy. Second time was a little better. Third time was the charm.


In 2019, I quit Corporate America, sold my condo and moved across the country. In that order, within a month.

In my mid-30s, I reached financial independence retire early (FIRE). I was finally able to leave a career that was no longer a good fit by getting my personal finances in order.​


Find out if you're financially ready to quit your job. Take the quiz!

Quiz: 8 Signs You're Financially Ready to Quit Your Job >>


Great Resignation: How to Financially Prepare to Change Careers

Although, I didn't have another job lined and was just starting up my business, I was financially independent.


Prior to resigning, I had played around with different side hustles and invested consistently in stock market index funds.


In addition to leaving the corporate life, it was also 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. ​


​I left all my furniture behind. I took my favorite pair of heels though. Other than that, I shipped my car and gave away everything else.


It was time to start a new chapter. Being born and raised in Hawaii, I had enough of East Coast winters. So I picked Southern California as my new home.



We all know it's not an easy journey to financial freedom, let alone change careers.​ Join me along my new chapter in sunny California on Instagram!

Create multiple income streams.


Whether it's passively or actively earned, millionaires have an average of seven income streams. After all, having multiple income streams is one of the great keys to wealth.


There are many ways to replace your salary in this gig economy. You don’t even have to start a business to do so.


This includes drop-shipping other people's products, creating an online course, affiliate marketing, renting out your car, and so on. Investing in rental properties is a great way to create passive cash flow too.


Find out if you're financially ready to quit your job. Take the quiz!

Quiz: 8 Signs You're Financially Ready to Quit Your Job >>


Great Resignation: How to Financially Prepare to Change Careers

For years, I experimented with different types of side hustles. Eventually, I got to get a feel of what I enjoyed doing and let go of the activities that were not as enjoyable.


During my weekends, I taught yoga and wellness workshops at a local hospital. I also worked the front desk of a yoga studio at one point too.


There are many different methods to create passive income streams. The possibilities are endless! Currently, I earn passive income mainly from index fund investing.


Interested in creating passive income through index fund investing too?


You probably already know that the path to financial wealth is to have your money work for you. Investing in index funds allows your money to compound over time so that you can earn money while you sleep.


Not interested in stock picking and day trading? Want to sleep soundly at night despite the volatility of the markets? Me too.


Here’s how I minimize risks:

  • Diversify across different asset classes

  • Diversify within asset classes

  • Diversify across markets, countries and currencies

  • Diversify across time


Great Resignation: How to Financially Prepare to Change Careers

About to take the leap? Already resigned?

When it comes to being a corporate dropout, there’s one thing I know for sure. It’s not as easy or glamorous as it seems on the surface.


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.


While I don't recommend resigning without a plan, sometimes you know when enough is enough.

Creating passive income helped me leave the 9-5 lifestyle once and for all. It wasn't easy leaving a steady paycheck and company benefits behind.


A Corporate Dropout's Guide to Passive Income:

For years, I tried different passive income side hustles, from creating digital products to index fund investing.

Eventually, I got to get a feel of what I enjoyed doing and let go of the activities that were not as enjoyable.

Here's one thing I learned: ​The best passive income strategy for you is one aligned with your strengths and interests.


Which passive income idea best suits your strengths and interests?

Quiz: Best Passive Income Idea for Your Personality!


Great Resignation: How to Financially Prepare to Change Careers