Planning to quit your job? Do these 5 things first. (via CNBCMakeIt)
"For some people, leaving a job has more to do with leaving a particular company because of burnout or even boredom, but for others, an entire career change may be what they are looking for," says Elise Freedman, workplace transformation practice leader at Korn Ferry, a global organizational consulting firm. "Many people are taking the time to really do a self-analysis on what they're good at and what motivates them.
Then, calculate how many months of necessary expenses — housing, food, debt payments, etc. — your current savings and anticipated income will cover. This calculation will look different for everyone, depending on the size of your household, your expenses, where you live and how much money you earn, among other factors. Don't forget annual expenses that might creep up in the coming months, like holiday gifts.
Ask yourself, "if you do plan to continue to work in the future, will you need to get any additional education or acquire any new skills?" Blackwell says. "It is best to pursue these endeavors before you quit your job so that you don't have to take on additional debt for education."3. Cut out extra expenses
Make sure you understand the vesting period with your retirement benefits and any stock options you may have been given. If you haven't vested fully, consider whether losing those benefits is worth the break or not.
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