The Great Resignation, Ep #209

Have you been feeling the pull to retire? This feeling isn’t constrained to those nearing retirement age; many people have been feeling the desire to quit their jobs lately. So many workers are considering a job change that this wave of people has begun what is called “The Great Resignation.” I read about this phenomenon on The Guardian website in an article written by Elle Hunt. Elle considers 17 questions that you should ask yourself before you make the leap into the unknown. If you have been contemplating retirement or a job change you won’t want to miss this episode. Outline of This Episode [2:02] 17 questions to ask yourself if you are ready to quit your job [4:53] What do you actually want to do? [8:08] What could you gain by quitting your job? [12:55] You can’t bootstrap your mortgage Attitudes surrounding employment are changing A recent survey indicated that over 40% of people have considered a job change this year. This trend could be a byproduct of stress brought on by the pandemic, but it could be due to a global shift in mindset which has led to a changing shift in employment priorities.  Have you considered retiring early or leaving your current job? If so, you’ll want to make sure that you ask yourself these questions before making any rash decisions. 17 questions to consider if you are ready to quit your job What are your frustrations? Before you up and quit, you’ll want to ask yourself why you really want to quit. What are the underlying causes of your dissatisfaction? Make sure to go deep in your thinking since your first thought is rarely the true reason for your unhappiness. To explore this question further write down every thought and feeling you have surrounding your job for 10 days.  How did you get to where you are now? Reflect on what led you to your current job and what brought you to it in the first place How long have you been feeling this way? Were you unhappy before the pandemic or is the feeling more recent? Consider whether your feelings are pandemic related. If so, this could mean you are actually seeking more control over your life. You may simply feel burned out and need some time off. What do you actually want to do? How do you want to live your life? Who do you want to be? These questions cut to the core and ensure that you explore your values. You may find that your unhappiness runs deeper than your career choice. How would your perfect day be different than it is now? Coming up with your perfect day can also help you explore whether you are ready to eliminate all work-related activities. If so, you may be ready to retire.  What do your friends and family say? Use your support system as a sounding board for your thoughts. What would you be giving up by quitting? If you are thinking of retiring early, think about the costs of healthcare before Medicare and other stabilizing factors that your job brings.  What would you gain by quitting? Try to steer clear of revenge retirement. It may lead you to a situation that you can’t come back from. Your negative feelings might pass, so don’t box yourself into a corner.  Have you explored every option with your employer? Try negotiating. You may be able to work out reduced hours, higher pay, or other changes in your workplace. Should you wait until you’re back in the office to make a decision? Be clear with your own needs and desires when considering this question. Should you quit due to a toxic boss? It can be challenging to see a toxic relationship while you are in the thick of the situation. A toxic work environment could mean that it is time for a change. When should you quit over stress? Is stress causing you to lose sleep, enjoy time with your family, or negatively affect your downtime? If your job adversely affects your life and health then you’ll want to assess why you feel stress. Are your expectations realistic? Can you actually leave your job? Can you afford to cover your expenses? If you can’t, then you may need to stick it out a bit longer. Could caring less help? Try setting boundaries in your workday. Define your values and step away from work when needed. and define values.  Is now the right time? You can empower yourself by filling in the gaps. Why can’t you make a decision? Set a decision date so that you don’t let your indecisiveness drag on. Resources & People Mentioned Boomer Benefits Ready to Quit Your Job from the Guardian Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Subscribe to the newsletter: https://retirementstartstodayradio.com/newsletter Subscribe to Retirement Starts Today on Apple Podcasts, Stitcher, TuneIn, Podbean, Player FM, iHeart, or Spotify