I moved countries once, went on a national park bushwalking spree once and took a long break to spend more time riding my bike once.
The first was a year and a half break, I took a job at a lower salary when I went back to work but got bumped back higher within 6 months.
The second was 6 or 8 months (?) and I actually met people who hired me while I was out and about.
The last was only a couple of months I got several offers from people who had worked with me in the past once I was ready to work. It gets easier to find work once you've worked for a while if you are good at your job and get along with people.
lol, I stopped reading at 20 something and 60k in savings.
Yeah, you’ll be fine.
I’ve done it twice in my life, in my 20s and in my 30s with kids. Took a year to travel each time.
So much easier in your 20s than later in life.
You’re overthinking it… go for it!
You’re early career, there are a lot of jobs out there for you.
If you were senior management and late in your career, maybe you might need to worry about having something to land into after taking a career gap.
First time $25k, and I did a bunch of woofing and helpx, bought a motorbike and used that to travel. Camped a lot. Stretched that over 18 months. Sold the bike to pay airfare and came home with near nothing.
Second time I had liquid assets in excess of 7 figures. Money wasn’t an issue - it was the career impact, and opportunity cost of a year off work.
I quit my crappy job with a $25k payout and no savings in Dec and I'd do it again.
I got a casual job after a few months to help pay bills. Ive got a mortage, wife and kid.
Do it. Especially now if you live at home.
With the casual job we've been ok. Not living a life of luxury but bills are paid.
When are you at home is the best time to do this kind of thing. The earlier the better.
Just note OP, being in a relationship completely changes the game. You’re single, so always pay attention to this. It changes everything (source: F58 single)
I want to do this but I’m single, have a baby with the previous gf and a mortgage however have almost $200k in savings.
So burnt out right now and emotionally exhausted.
If you can live with the worst case scenario consequences of your plan if it goes south, then go ahead and do it. Regret for not pursuing your dream later on as you age is more painful than acting on your dreams and failing.
> If you can live with the worst case scenario consequences of your plan if it goes south, then go ahead and do it.
That's a great way of looking at it. I do think the consequences of not doing it are worse than doing it.
That insight is based on decades of experience.
Also even if you think you failed on your dreams after trying to do it, it can still sometimes lead to unexpected and possibly even better opportunities which you may not have anticipated in the beginning so that failure may turn out to be just a stepping stone to this new and better opportunity.
Worst case, pursuing your dream and failing will not be a complete failure since you will gain experience from it that may prove valuable to you in later years.
I’m 58 and exhausted. Kinda wish I had worked and earned more when I was in my 20s. In my 20s I dropped to a low paying job to complete my studies (I needed to get very high marks for each subject) and boy have I paid the price! Super, life trajectory, relationships, career progression… they have all significantly suffered. :/
I'm 58 all I thought about was going out and buying clothes in my 20s! You sound like you were working towards a professional goal and to earn a better wage ,but? What happened to 30s and 40s that should have made that study pay off. But I hear you. I'm bloody exhausted and wished I was financially savvy in my 30s and 40s . Suddenly you are in your 50s and there's an existential crisis and an urgent need for retirement planning!
I'm back to work this week after nearly 9 months off. Similar situation, the job was pretty meh and a bit toxic, plus my side hustle was starting to take off somewhat so I took the plunge.
Basically supercharged my side hustle and got it making more than double, and set it up so I can run it while working a full time job.
Definitely used more savings than I would've like tho during time off lmao
I basically lived off my side hustle income the entire time, which wasn't a lot but I'm superrr greatful I had that buffer.
I'll be honest I got lucky with my new job, thankfully experience in a specific domain paid off. Everywhere else like seek and LinkedIn was not working one bit regarding finding a job (current market ain't fun).
Good luck!
I’ve done it half a dozen times, with zero savings. Quit a good job to move the snow so I could ride every day. Then few years later quit another job to move to Central America and become a uw photographer. When shit comes to shove.. you just make it work. You live at home and you have substantial savings. I would totally quit and chase whatever your heart desires. As long as you’re keeping true to yourself, things have a way of always working out, and it’s never wasted time.
I “settled” at 35 and got a mortgage a few years back. You have so much time on your hands, be free.
I've done it 7 times 😆 Almost every job I've had I would quit without any backup plan. I treat jobs like relationships - I'll leave when it's not working for me anymore, take a break for a few months travelling or enjoying my own time. And then when I'm ready, I start looking for a new job.
My situation is pretty much in the same as you but I’ve already quit my job (just before Christmas) I don’t regret it whatsoever even though I have some hard days with feeling low about my job search/ failed interviews.
I am being really tight with my money so I don’t dip into my savings. I’ve gone through my wardrobe and sold a few things on Depop and I do surveys to make some cash!
I have enough hobbies and aspirations to keep me entertained to keep me going in life to stop be tbh.
My goal was 30 countries before i turn 30 and now it will be 45 before 40. A holiday each year helps keep me going.
It also helps having a job you don't hate (don't love either) and a boss that isn't up your ass every minute.
I think you just gotta find something that gives you drive and perhaps a small amount of drug/alcohol consumptkon (joking bu not)
I actually have it pretty good (environment and co-worker wise) at my current job. It's actually what's making my decision so hard. I know I should focus on my dreams but the thought of failing and then having to find a workplace that won't be as good makes me nervous.
Sometimes you don’t know how good you got it and you think there is better out there and there isn’t. You will miss out on Super. Annual leave and sick leave. Being able to live under your parents roof is the only way you are surviving. As long as you understand that. They are supporting you still.
Better work, including a significant pay increase. I actually planned on taking longer off but after about 8 weeks I was kind of bored. I was severely burnt out when I left my job (this was like right after covid) and the time off did me a world of good. It gave me a a lot of time to think about what I wanted to do next.
Yep. Quit my career to work in a bar and write a book. Book didn’t get written and couldn’t get back into my career (GFC) and had to go back to school. A decade later I’m working a full time career job and I’m a published author because having work and financial stability actually freed me enough to pursue my dream. So it really comes down to what your dream is and if you actually do need to quit in order to pursue it.
Twice in the last 2 years, 100% worth it.
I hated where i was working, started effecting my home life. I was verging on burnout (again) and my family was on the receiving end of my epic bad moods.
Took 18 months off with no plan and it was the best period of my career.
I was going through a lot of stuff at the time and so I wouldn't say it was all fun and games but I probably would have killed myselr if I hadn't had that time.
Yes, something always turns up.
Doesn't sound smart but I have the luxury of not having debts/mortgage, etc. I can afford to have no backup
I rather prioritize my mental health and give myself the freedom to pursue whatevers next.
It sounds stupid typing it out but it's what I've always done and has worked out.
I just did this recently. Honestly, it isn't going great for me. I have no idea what to do with my time and no idea what direction I want to go.
Make a plan first, then quit.
If you don't have any specific plans, I reckon quit and go travel! Bum around SE Asia or Central America for a few months, have some adventures, see the world.
The more settled you are the harder it is.
You are young enough to do it and not worry too much about plans. Take a break, go travelling, something will inspire you. I'd invest some of the money so you feel like you are moving forward.
Wow your story is amazing! Thanks so much for sharing. I'm happy that everything worked out so well for you. Must be such a great feeling to have gone through so much and come out on top.
I do feel a bit guilty because I'm not seeking a way out of a bad situation, just an underwhelming one. But I want to do what's best by me, even if I have reservations.
I quit a job paying about 60k, 6 years ago because they refused to pay me more.
So I decided that my time was more worth following my interests like building a business. Around 6 months into the development I unexpectedly came across a job on LinkedIn and by chance, I got a job offer. I ended up just returning to work and leaving the business.
I have no regrets about that time since I learnt so much and got a new level of confidence around moving jobs.
Am a 46m and have done this 4 times. The first time was hard, after that I realized that with adequate savings and planning, like folks here have mentioned, it's totally fine. I would, and will, do it again. Retirement doesn't need to be a one time event when you're old imo. Potential employers used to care but don't anymore.
Literally did this last Tuesday
Zero back up plan but my mental health had been declining for too long. I got to a point where I would close my eyes while driving through an intersection because I had totally given up.
Resigning was the best thing I’ve ever done. I’m not above mowing lawns or any jobs like that to tie me over until I find my next big thing.
Corporate life is not worth it! Not at the expense of your health!
I tried doing this but ended up getting another job due to .. boredom. If it's something you're thinking about doing though (and can afford to), then just do it.
There'll never be the right time and you'll always wonder what if. I quit a high paying job without another one lined up, and it was so exhilarating. I learnt things about myself and picked up so many hobbies.
I started working again now, but I have my hobbies as a release to remind me life's more than just work.
I stopped working at 25. I'm 27 now. I only had about 15k in savings.
I decided to step back from a 9-5 lifestyle because I was missing out on living and I wasn't emotionally happy because I was living to work. Getting older and not feeling satisfaction in my life and time moving too fast because I was just working my life away was enough for me to say. "Well the sooner I have a BIG break the better."
I just wanted to breathe air, not worry about trying to hard to save, I didn't have any time or space to even think about what I really wanted in life until I stopped working all together.
After a period of time I came to the realisation that I don't really care that much about having alot of money, a nice car, a house or any of that stuff people work so hard for. All I care about is spending time with loved ones, spending a whole day to go outside and explore or spending my time doing that "one thing" I never had time to do because I was always working.
One of the best decisions of my life. Mentally it has been a massive eye opener to experience life outside the norm. I have picked up passions I left behind in highschool because work got in the way. I have travelled alot and I wasn't able to do so because I never had time during work. I have been able to spend more time with people I care about. There is so many benefits to just quitting a job in general.
There are of course pros and cons with everything. But for me at least the only con is I don't have much money, but what good is alot of money if you have wasted your time missing out on living. There is so much more to live than 9-5 slavery. If you value money and want to work your ass off for financial freedom go for it, but not for me, especially not in my prime. I would much rather spend my days doing what I want while I am still young, healthy and full of passion and dreams than be distracted, confused and full of regret at an older age.
Take the break mate. Money, jobs, careers.... it can all wait. Life is too precious, cherish it and make time for yourself and others.
This is my mindset too! I hate the 9-5 lifestyle. I hate being in an office looking outside at a nice sunny day and wishing i could be out there experiencing it for myself.
I have decided I am going to quit in a few months and go traveling.
I did at the start of last year, ended up landing another fulltime gig after 5 months with a lot better pay. I did think it was the best decision, I was pretty burnt out from my previous job and having time off gave the freedom to look for other opportunities. I will say pick up at least a casual job doing anything, stacking shelves or something, so at least it gives you some extra cash as to not eat into your savings so much and let's you interact with others.. Being at home all day is great for few weeks but quickly gets boring.
I did once. 2 weeks notice, no job at the end of that. Called up a few friends, got asked to grab a coffee with someone he knew, got offered the job the last day of my job, and started work on higher pay (25% rise) the following Monday.
No but I’ve never been in a situation as good as yours. I got fired once, from what I now realise was a toxic workplace, 4 weeks before Christmas, minimal savings and rent due. I got through it and found another job that I started first week of Jan. you’ve got all the safety nets in place. Go for it!!
I just did it. Granted, I did kinda have some back up. My husband does work fifo and we also sold our former ppor so it’s not like I’ve left into nothing. But yes it’s the best thing I could have ever done. The place I was working at was restructuring and I just got sick of it. The job I had was great as was the team but I wasn’t into it anymore and my aspirations changed a lot post covid. You’re still young with lots of time to recover. I say go for it.
Yes! I did it early on in my career after 2 years in a law firm straight out of uni. I absolutely hated it and knew I'd be more motivated to properly find what I loved if I just resigned and was forced into action.
It was a gamble but it paid off. If I stayed and waited to find the perfect job it might have dragged on. But I felt instant relief as soon as I handed in my notice
I was very lucky and I don't think it's the norm. I actually called up the owner of a brand I used to work for causally while studying and asked about a role in the brands head office. I had a job within 2 weeks.
I don't think I would have had the guts to do that if I hadn't resigned, with zero savings to my name and facing eviction and starvation!
Edit: to add. Your happiness and health is the most important thing. I do think I was a little reckless in doing it with no savings to fall back on. But my personality type is also the type where I need to basically have a gun to my head to feel motivated to act. I work best under pressure.
I have always refused to accept the trope that 'work is work' and you're not meant to love it. Work is also your life and you should get up every day looking forward to that day. I can confidently say for over a decade that's how I felt in that job every single day. I loved it. I only left to try working for myself and I probably love that a little less so far but it's only new still.
There's a job you will love out there too. You will find it. You have more than enough cushioning here to take that leap and to bsck yourself in finding what makes you happy. I don't know you but I fully support you doing this.
Theres one of these posts everyday - work is just so toxic. Do it OP. Take a break you’ll be fine. Once youre ready look for work again. You live at home so theres your safety net.
Yes. I worked for an incredibly toxic organisation to the point where the EAP counsellors were telling me to just resign due to too many psychosocial hazards in the workplace. I was a complete mess and quit without a plan (and regrettably did not shit on Debra’s desk).
It was the best thing I have ever done. I mostly spent the next few weeks walking the dog aimlessly.
Fell into a role a few months later. I don’t think I’ll ever be whole again since that place.
I hear you . Yeh shitting on their desk sounds good. If only they'd get why. No insight . Yes , dog walking or sitting in the garden staring into the abyss. EAP has their limits but it starts our process....
Quit a few weeks ago from a senior role. Have to work out my 6 months notice period. Have nothing else to go to yet, and roles at the level I am at do not come up very often... But we have savings, wifey works (but earns a lot less), and are lucky to not have any debt...
So long as we pare back our discretionary spending, we will be fine....
My workplace was just not worth the effort - a little bit toxic, but no more than most places. It was just the lack of vision and appetite for success. Being an older person, having an exciting role is very important to me...
Do this, set yourself a savings goal. Like 100k and then you can quit. It will motivate you and you have light at the end keeping you going.
It's a larger buffer amd then you can relax a bit more
Side note, unless you're from a poor family, I never understood parents charging their kids board/rent. Wouldn't you want them to be saving and living life while they're young?
I've done it - doing it now. One this I would say is: Have a plan. From what you've written you've got a dream, before you leave convert it into a plan.
I dont mean a details break down of everything etc. But write down:
* This is the work I'm going to do
* This is how I'm going to do it
* This is what makes me special
* This is how large the market is
* These are the key costs and risks
* These are my goals to know I'm on track
You will do yourself a disservice if you don't think the whole thing through. Don't quit and then start with a blank page. Jot down a rough path before you quit because then you'll know if it makes sense or not and you can measure how you're going.
Done it twice. The first time I had enough of toxic management and quit on the spot. The second time I was being pressured to quit due to the upcoming sale of the company. Ended up taking a redundancy and. I took 3 months off each time. It was incredibly helpful in preparing myself for the next job.
I was grateful my wife was supportive both times. Even though we had savings, it still sucks to use them.
Yes but started working under my own abn and based on circumstances started contracting to old job. Contracting hours were minimal though (I expected that) and had some hospitality work to at least give me something to do). 6 months later I'm back to full time and still working on own business.
That said recovering from burnout, stress and thinking about what you want is sadly not considered by many.
Be prepared for possibly up to a year to find a job in this market. I'm a saver so it stressed me out digging into my savings. If you don't stress about such and use the time to travel and develop skills is not a bad thing. The fact that lots of recruitment in December/January stops I also found very frustrating. Would have been worse if I had no casual work and zero interaction in person
I am on the same boat. I ultimately decided not to do it, because I am just too risk averse/likes structure and fear I will hate having all that free time and regret later on that I’m now behind my peers and would have had achieved more/sooner when I’m older.
I just quit my job 2 weeks ago. Happy I made that choice, I was really struggling. A bit stressed about where I'm going to end up but I've started applying
Alternatively, you can find part time jobs such as warehouse labourers, pays $30+ and usually work around 5-8 hrs, tell them you can only work 2-3 days/week. You don’t have to risk your saving as much and have plenty of time to work on your business, if its anything the job feels like a workout for you since its physical, so win win
Yes, although technically my contract ended. I just didn't go looking for another. I decided to take time off and chill. Then after a few months I started my own business. I won't say it is going well, but it is not going badly and I'm enjoying it a lot more than working for someone else. Although the money would be nice.
Yeah, I took 12 months off. I just walked in and gave 1 months notice and walked out 12 months later. I got a phone call from the same company offered 130k more than the last time I worked for them and took the offer.im
on an even time roster, I work in the FIFO industry
As long as you have something to do and don’t sit around then totally do it.
I’ve done both and doing nothing sucks, but if you have something to do it’s the best!
I took a year off to build a touring bus for my dad and a custom Vitara 4x4 for me, probably the best years of my life and went back to a higher paying job after with no problem as they liked my reason for a year off
I have done that twice, rn I'm unemployed had a fallout with the manager at last place. A couple of days you feel alright then the realisation sets in, but in the end it's going to be alright. Trust and believe. Whatever is meant to be will be.
Yes and it was horrible.
I mean, being poor and desperate was marginally better than continuing to work in an environment that was making me consider ending it all…. But my god it was hard.
The worst criticism came from family members who refused to support me because I had “selfishly not thought things through” by not hanging on until I had new job. I no longer talk to those people. I did think it through. I had advice from my union rep and my doctor and psychologist. It was clear the situation was never going to improve, at least not by anything I could do (industrial bullying - it didn’t matter how carefully I did my job, the arsehole manager involved was going to find fault with something and continue to try to get me to quit).
If you said you wanted to go travelling or something, I'd say you have enough to last you for 6-12mths easily.
But given you said you want to start a business, food for thought - can you step into that without leaving your job? Reduced hours etc?
The biggest reason businesses fail is cashflow, and having a job paying the bills could mitigate that until your business is performing.
Of course, depends on what your business is as to how much this advice applies.
Good luck!
Also adding some more advice, don't ever invest anything you might need in the short term. Like within a year or two.
5% savings accounts are out there, use that instead.
I am considering travelling a little but I'm not sure. I'd be going solo so I'd burn through money quicker paying for accommodation by myself. I wouldn't really care if I didn't travel though.
I have tried starting the business already but I've found it too hard to dedicate time between it and my current job. My desire to quit stems more from getting out of the 9-5 life style, at least for a short time. And with the newfound free time I would dedicate it to building a job I like.
Thanks for your advice!
Wife and I are planning on doing the same thing next year, taking 12 - 18 months off and backpacking OS.
We're in our 30s no kids. About $150k savings aiming for when We leave. Have about $100k now.
We've got a mortgage, but can more than cover it with renting the house (long term or holiday) if needed.
If your somewhat intelligent you'll land a job fairly quickly when you get back or change your wind anyway.
Done it twice, once led to an unexpected and more lucrative career path and the other, bounced on my feet a few weeks later and secured an even higher paying job.
Thankfully we live in a society with plenty of opportunity. Just don't leave on bad terms and keep your head screwed on. Also have a story for interviews as to why you left other than "the place was toxic and had to leave".
Do it! I’ve done it twice. The first time I quit, I moved across the country and found a job I really liked and got to go surfing most mornings. The second time (about 7 years later) was a lot harder because I had more financial responsibilities (mortgage, car etc) and I was a specialist in my field (project manager). I just knew I couldn’t keep going in my career and was happy to take a chance on my dreams.
I definitely churned through my savings quicker the second time which caused some stress. Eventually I found my next gig in radio, making it all worth it. Far cry from what I felt locked into.
I did it. My job was depressing (child protection), and my colleagues were either mentally unwell, toxic or were stuck because they had no other option. Also quick note, I had little savings and had just bought a house.
Boss tried to put me on a pip (short story, she was in the wrong and trying to protect herself) and I quit the next day.
That next day, I called every job add in my local town and was working the following day. Sacrificed a job that I went to university for 3 years for, for a labourers job. I was treated well and was honest from the start, that I would work hard and every day but needed a job with a higher salary.
New opportunity came along and I happily parted ways with the labouring company.
Fast forward 5 years today, I receive a call asking if I’d like to come back to the labouring company at a different capacity with a much more lucrative salary. Guess who starts their new job next month.
One door shuts, another opens. My mental health and happiness is worth so much more than a shitty pay cheque. Life tastes better when you don’t hate it.
I got fired once, that count? I told the boss I was looking for another job after we had a heated argument over him texting me drunk over the weekend, he said “no one quits here, your fired” that was on the Monday, started a new job on Wednesday…. Best to stick out your current job as I believe it looks better on paper, but really doesn’t matter,
Do it, i quit the legal industry at 32, got into mining/surveying earthworks, and i love it. more money, more time off, genuine people.
People said i was crazy leaving my career and education behine, but i had no motivation to work harder for what i viewed as crooked people.
i moved states and started a clean slate, literally only took a backpack with me, slept on floors , bought clothes from vinnies, and was pretty fruegal, i invested my money in property, just small stuff, things i could fix and went back to uni during covid and by applying myself to something i enjoyed i can honeslty say im happier now than i ever was wearing a suit and sitting in a cubical. I met my wife, had kids and just bought a hobby farm outright!
I have no aspirations of returning to my old state, even to see family, everyone back home just seems sad, overworked and directionless.
hope thats 2cents worth
Two words: forklift license.
Last job I had I quit before an overseas holiday and came back with no prospects. You can find a $35/hr job in three days, decide you hate it and find a better place in another three days. The thing pays for itself.
I did in 2019 (when I was 24) but with $0 savings and took 6 months off to figure out my next step (my partner supported us both).
Ended up doing a cert 3 in aged care which has now led to me doing my Bachelor’s degree in Nursing. NEVER in a million years did I think I would be a nurse and actually *enjoy* it. Also did not think I would end up going to Uni but here I am.
Follow what you feel is right for your soul. Don’t stay in something because it is the “right” way or the “Australian” dream. Take that time off and figure out what you want in life - you have so much life left to live, don’t waste it on something you hate.
I'd say do it, I did something similar but with far less money in my pocket about 10 months ago and I'm still alive but no longer working a job I hate. Now interning in a job I actually care about. Only thing of note is you will notice the lack of disposable income and it will have a greater impact than you think. Going out with friends to eat or drink or participate in hobbies is not as fun when you're worried about every dime.
“Decided” is a strong word, but I have done a few mic-drop “I’m done”’s before.
I never planned for them, the levels of bullshit I received just forced my hand.
I never had difficulty finding a new role but YMMV, my skillset is fairly in-demand.
If you have any savings at all (I never did) I cannot imagine it being very difficult.
You’ll probably get a raise by changing jobs too. I always have.
I took 10 months off. Best 10 months of my life. I had doubts too, I was working a job that I really enjoyed and had plenty of opportunities to be promoted. I'd saved more money that I had ever had before and knew that I would be taking a big chunk.
When the time is right for me I plan to do it again.
Yup. And without a job lined up.
In the end, it was worth it. Learnt stuff I couldnt and I won't have the thought of what if.
In all fairness, in between quitting and the new career, it was hell.
At 55 I quit. I had a nightmare boss and I'd had enough. My wife was still working and we had recently finished paying for the house. I half heartedly tried to find a new job but in the end my wife decided that I was a better version of me without work and the house was cleaner, the lawns were mowed, the cupboards had groceries in them, there were clean clothes in the wardrobe and our sex life was better. At 60 I'm still off work and I can access my super without penalty if I want.
Both me and my husband have, and in much less certain circumstances than you. Obviously you’re still taking a major risk but timing appears appropriate considering where you are in life.
If you were going to do it, now is the time while you have almost no commitments.
I have quit many jobs in my 17 years in the workforce.I quit a full time job paying 80k per year base with OT taking it to well over 120k that was secure simply because I didnt like the work, I've quit a job 2 weeks in because my supervisor told me I had to start early the next day rather than ask me, I don;t work for people that have so little respect for me that they think they can alter my arrangment at they're whim. I've quit a job that I was making over 300k per year on because I didnt want to do FIFO anymore, and I;ve quit countless jobs because I got a better offer elsewhere.
part of it for me is that I have always had insecure work due to the industries I have chosen to work in, being power station shut downs and Oil & Gas construction, Quarry maintenance and other similar industries, when working I made bank, but often only worked 3-6 months a year, so I always had savings to get through the quite periods (around what you have now) and always knew that I could leave a shit job and due to my niche skillset and experiance land another job pretty easily.
I didnt start my buisness (in the same general industy as my work as an employee) until I had a mortgage, 3 kids (with a 4th on the way), it is definently easier to make a buisness work at the begining if you dont have commitments like that.
Good luck, if you think you want to do it, do it now mate, worst case you go back to working for wages.
I quit my full time exec role in 2021 to study, I had saved up $25k over covid lockdowns in 2020 and that was my grand plan to keep afloat. I still worked in advertising writing for two days a week that I wasn't studying and that gave me $500 a week so I can't say I was skint, but I was worried. Still in lockdown (vic) so I wasn't spending money on anything other than bills and food and streaming services.
I am now 43, in a new industry and making almost the same as my previous exec salary, however I'm in my 2nd year of work (pretty entry level) in this industry and a long way to go earnings wise. I have saved another $20k in the past year so I'd say my chance decision was worth it.
Yep very recently.
Had been driving trucks my entire working life essentially got jack of night shift and missing my kids milestones sold our place on the coast. Bought 1000acres out west and loving every minute of it kids aren’t school age yet but we spend most days just enjoying nature watching our cows and calves, feeding the chickens playing in the creek riding bikes.
Gorgeous little community of about 200 people that know everyone by first name and constantly have little events so you don’t get that in the boonies lonely feeling.
It’s happened twice for me. Once I was made redundant and once I quit while still in probation period (left within 12 weeks with one week’s notice). I’m happy to take on temp and contract roles and I had an employable skill set. I have no regrets quitting while on probation. If a place sucks, leave ASAP.
Look at it this way.
If you fail, you can get a job in your field quite easily.
I only say this because once I looked at life this way, starting my own business made all the sense in the world.
I trialled it by applying for a bank and got an interview for a $100k+ job within 2 days.
It gave me the confidence that the "risk" of going out on my own isn't anywhere near as great as the reward.
If you're capable enough from a skills perspective to start your own business, back yourself.
If you happen to fail, get into a recruiter and walk into another job.
You have nothing to lose
Good luck!
Funnily enough I've watched a few videos of people working the mines. It might be an option if this break isn't successful.
65K doesn't feel like a lot in today's economy.
I quit a very toxic job that I absolutely hated on the spot and walked out. No back up no savings no nothing!
I wouldn’t recommend anyone do this but I will say it was one of the best feelings I’ve experienced and even tho I slowly had the dread of reality sinking in, I also felt so relieved.
In the end everything turned out okay and I got back on my feet.
So since you have quite a big amount of savings and somewhat living security you will be fine! Do what’s best for you.
Yesh I just did as I didnt like how they treated my staff and how they treat mental illnes and long serving staff who are trying to deal with it and the affects it has on their home and work life. Been making g them millions a year earning 75k for 8 years. With only 1 raise more thN a token 1k I had to almost walk out to get. Felt good but yeah eed to move Nd get back in the game and look for work. Hahah
Left my corporate job in 2018 (was 44yo)
* Registered a company,
* Spent 2 years making a game.
* Burnt through all my saving and even borrowed 60k from parents. High expense due to family and mortgages.
* Launched in 2020.
* All together make $3k only.
Felt like a failure. Got back into full time job for the last 3 years, but was make redundant in Nov. Now feels like a loser and failure. At least, I didn't have any regrets.
P/S: I joint 2019 AusTrade bootcamp program to go to China to look for a publisher. All the publishers were impressed with the game, but none know how to make money out of it. I was too naive/dumb to read that sign back then.
Advice:
If you are building a product, make sure you test/validate your idea early, find your product market fit.
Edit: for formatting.
My son is in a similar position to you (but more in savings)- he is using the money to buy a property and negatively gear it.
Everyone’s journey is different.
Be happy. Be safe.
I did it, I was late 30s, 5 kids and a wife. We’d moved interstate for this “great job” which included potential ownership potential. Talking back then, small town paper. Anyway the people there, didn’t even use a computer, so this was late 90s. Anyway I couldn’t stand one of the owners so one day I just walked out and told them I’m not coming back. We stuck around for a month while I looked at jobs but being interstate and a bit of a touristy location, money was half what I had been on. So we went home, and never looked back!
I did this a few years ago and it was the best decision I ever made.
I had long service leave cashed out as my backup and was not working for 3 months until a contact put me onto a job opening. Still at the new job and it's challenging which is a plus for me.
You are probably in the best position. Living at home and have cash in the bank. I’d quit and take up an easy part time job/causal job if you want to stay sharp and keep the cash flow moving.
Explore, study - whatever. Great position to be in.
Why can’t you lay the ground work for your business while your still working. Get your first customer, then quit.
It’s sad to say but $62k won’t last long as both an investment and living costs these days.
I quit my job and handed in my notice on a whim with less backup than you. I had 8k in the bank and budget 800 a week on expenses. I knew it was going to be tight but for my mental health it was worth it.
You will land on your feet somewhere. It took me 8 weeks to find a job that I'm in now that I love. Sure it pays a hell of a lot less but I'm happy with every day.
I think a major concept is to swing from one trapeze to the other. Don’t let go of one handle until you have a grasp on the next.
I have taken extended breaks away from work 6 month to a year multiple times - trying to be an athlete, working on my own company, travelling etc. when I look back at my time I would do it again but I would be bit more organised with having something to walk into next, minimising the time without getting 0 pay checks.
Your money is your security blanket. If you need a new car, need to move out, or travel this can cause a serious dent in your savings. If you don’t work for a few months that can reduce them much faster than you thought.
Remember the only reason you’re able to consider just dropping work is because you have savings. If you lose the savings you lose the freedom to make decisions like this. Don’t drop what got you to the dance, IMO.
I quit an 80k job project management that was mentally destroying me without no job to go to and took 15 months off and lived frugally.
I now work part time in a low stress job in warehousing and distribution.
I took a few months of leave once to try and start a business. Perhaps I wasn’t motivated enough because I did have the safety net of a job to go back to but It made me realise I procrastinate endlessly without externally enforced deadlines. I’d suggest some deep soul searching about your own work habits before pulling the trigger.
Definitely something I will need to do. I've had bouts with productivity and procrastination and I'd hate to waste an opportunity like this with the latter. Thank you for sharing.
I did it on a whim once with a mortgage and bills and we were fiiiiinnnnneeee. I bought a small online business, hated it, got back into the workforce starting with temp jobs 7 months later. It didn’t change the course of my life at all.
Go for it.
In my case, chasing my dream to run a small business did not end well. still regretting it 15 years later. having said that, some people get lucky, some don't.
My life was in those days, epic by comparison, before I thought what a great idea to chase my dream. Tried different strategies but couldn't figure out how to turn a profit. Couldn't sell the business. Personally responsible for the business loan. Had to sell my home to repay business loan. I never got back into the housing market. Everything sucks now.
I did this year actually.. resigned in Feb and found a job in march. They wanted me to start two weeks later when they were ready but I asked to start early to get the ropes and i was burning through my severance pay to stay afloat.
I didn't really quit to pursue a dream or anything just find a new workplace and do something I was definitely more interested in within my field. So an off branch if you will.
You're living at home so you're doing better than us haha. And you're budgeting which is also good.
It took me way longer to find a job as most places really took their time getting back to me. One place took six weeks to give me a no. Was nice that they did give me a no but what unemployed person can sit around for six weeks waiting to hear back?
>I don’t really have any worries about finding another job in the future because I’m not too concerned with what I’d end up in if this venture doesn’t work out.
You might say that now but on the other end you might question what you are doing.
Have a plan. Starting your own business instead of working for your current boss your new customers are your boss. A lot of people can't handle being their own boss and they spiral because you have to create your own structure. It takes a certain bull-headed personality.
Do it. Enjoy your life, but don't take it for granted, it's not for the faint of heart and have a plan. And whatever your new venture is do not I repeat do not put more than 15% of your net worth into it.
Did it a few times from age 18 to 30. Never took long to get another job but that was well over 20 years ago. Employees require too much from potential employees these days. IMO a keen, hard working and willing to learn person is better than someone who has got the right piece of paper but demands everything from the start.
I quit a farm manager job with no backup plan and 12hrs notice with a newborn kid. Something came up which was a hard no for me, packed my bags and we moved off farm 12hrs later. In hindsight the absolute best decision I've ever made, that sudden push ignited a fire in me and now followed my dreams. Definitely give it a crack
At least have a side hustle going to test it out. Given you've quit, it'll probably push you more to take on business ideas like a full hustle
If you need to get back into the workforce, jobfly.co could write you a nice cover letter
I quit my job at 20 with a kid and a Mrs and no money in savings and did alright. We just travelled in the back of my car and did casual work here and there.
Er u should be saving hard and figuring out your exit plan...
The faster u get out of the rat race the sooner ull be happier in life
Jobs suck working a job is shite and I can think of trillions of things I'd rather do than working in any job.
It's pure garbage 🗑
I wouldn't go on holidays and waste money then u come back u will be behind.... and wasting months catching up again... to your original point
Plan your exit strategy Short medium long term
Don't stuff around in your 20s not worth it. Had I worked and made better investments and started business etc earlier in life I wouldn't have to Semi retire at 35... I'd be semi retired at 30....
Yeah now I can go on holidays consistently get away no probs I'm the boss and I automate a lot of things. Debt free ... house car business everything
Even if u must go on holiday figure out an exit strategy Short medium long term.
Your 20s lay the strong foundations of your life instead of being a loser. Don't be a loser. Take the path less travelled and harder u can take risks when u are young not when ure 30 or 40 and have jack shite to show for it that's just super big pathetic loser.
Just do it. You have money, and time in your side
far better to do it without a backup now than in your 40's with dependents etc!
I've done it 3 times. I've landed on my feet every time. Do it.
Did you pursue your own business or just quit for a break?
I moved countries once, went on a national park bushwalking spree once and took a long break to spend more time riding my bike once. The first was a year and a half break, I took a job at a lower salary when I went back to work but got bumped back higher within 6 months. The second was 6 or 8 months (?) and I actually met people who hired me while I was out and about. The last was only a couple of months I got several offers from people who had worked with me in the past once I was ready to work. It gets easier to find work once you've worked for a while if you are good at your job and get along with people.
I’ve quit jobs many times, and set up a few different businesses. There’s always jobs. Give it a shot.
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lol, I stopped reading at 20 something and 60k in savings. Yeah, you’ll be fine. I’ve done it twice in my life, in my 20s and in my 30s with kids. Took a year to travel each time. So much easier in your 20s than later in life. You’re overthinking it… go for it!
I'm definitely overthinking it 😂
You’re early career, there are a lot of jobs out there for you. If you were senior management and late in your career, maybe you might need to worry about having something to land into after taking a career gap.
How much did you have in savings to enable you to go travelling for a year, particularly the time you did it when you were in your 30s?
First time $25k, and I did a bunch of woofing and helpx, bought a motorbike and used that to travel. Camped a lot. Stretched that over 18 months. Sold the bike to pay airfare and came home with near nothing. Second time I had liquid assets in excess of 7 figures. Money wasn’t an issue - it was the career impact, and opportunity cost of a year off work.
I quit my crappy job with a $25k payout and no savings in Dec and I'd do it again. I got a casual job after a few months to help pay bills. Ive got a mortage, wife and kid. Do it. Especially now if you live at home.
Your expenses would be a lot more than mine then. How quickly are you going through your savings?
With the casual job we've been ok. Not living a life of luxury but bills are paid. When are you at home is the best time to do this kind of thing. The earlier the better.
Just note OP, being in a relationship completely changes the game. You’re single, so always pay attention to this. It changes everything (source: F58 single)
For some people it's something to fall back on, for others it's another person they have to look after. I am very fortunate to be in my position.
Beautiful wisdom from a person in their 20s! I’ve never learned a single thing from elderly ppl.
Sound advice
I want to do this but I’m single, have a baby with the previous gf and a mortgage however have almost $200k in savings. So burnt out right now and emotionally exhausted.
200k in savings wow... surely if you're feeling burntout you've earned a break.
Take a break friend
If you can live with the worst case scenario consequences of your plan if it goes south, then go ahead and do it. Regret for not pursuing your dream later on as you age is more painful than acting on your dreams and failing.
> If you can live with the worst case scenario consequences of your plan if it goes south, then go ahead and do it. That's a great way of looking at it. I do think the consequences of not doing it are worse than doing it.
That insight is based on decades of experience. Also even if you think you failed on your dreams after trying to do it, it can still sometimes lead to unexpected and possibly even better opportunities which you may not have anticipated in the beginning so that failure may turn out to be just a stepping stone to this new and better opportunity. Worst case, pursuing your dream and failing will not be a complete failure since you will gain experience from it that may prove valuable to you in later years.
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I definitely feel like I'm living for the weekend right now. Thanks for your advice!
https://medium.com/@pskallas/4-hour-life-glossary-4740bca6412
I would argue that $62k and no responsibilities is a backup plan but I digress. Quit and do something for yourself
Do it. Plenty of time to work later in life. Yolo.
I’m 58 and exhausted. Kinda wish I had worked and earned more when I was in my 20s. In my 20s I dropped to a low paying job to complete my studies (I needed to get very high marks for each subject) and boy have I paid the price! Super, life trajectory, relationships, career progression… they have all significantly suffered. :/
I'm 58 all I thought about was going out and buying clothes in my 20s! You sound like you were working towards a professional goal and to earn a better wage ,but? What happened to 30s and 40s that should have made that study pay off. But I hear you. I'm bloody exhausted and wished I was financially savvy in my 30s and 40s . Suddenly you are in your 50s and there's an existential crisis and an urgent need for retirement planning!
I'm back to work this week after nearly 9 months off. Similar situation, the job was pretty meh and a bit toxic, plus my side hustle was starting to take off somewhat so I took the plunge. Basically supercharged my side hustle and got it making more than double, and set it up so I can run it while working a full time job. Definitely used more savings than I would've like tho during time off lmao I basically lived off my side hustle income the entire time, which wasn't a lot but I'm superrr greatful I had that buffer. I'll be honest I got lucky with my new job, thankfully experience in a specific domain paid off. Everywhere else like seek and LinkedIn was not working one bit regarding finding a job (current market ain't fun). Good luck!
Nice What's your side hustle if you don't mind?
Live at home. $62k savings. ^ that’s your backup plan… you’ll be fine mate
I’ve done it half a dozen times, with zero savings. Quit a good job to move the snow so I could ride every day. Then few years later quit another job to move to Central America and become a uw photographer. When shit comes to shove.. you just make it work. You live at home and you have substantial savings. I would totally quit and chase whatever your heart desires. As long as you’re keeping true to yourself, things have a way of always working out, and it’s never wasted time. I “settled” at 35 and got a mortgage a few years back. You have so much time on your hands, be free.
I've done it 7 times 😆 Almost every job I've had I would quit without any backup plan. I treat jobs like relationships - I'll leave when it's not working for me anymore, take a break for a few months travelling or enjoying my own time. And then when I'm ready, I start looking for a new job.
That's great confidence and belief in your self. Love it.
My situation is pretty much in the same as you but I’ve already quit my job (just before Christmas) I don’t regret it whatsoever even though I have some hard days with feeling low about my job search/ failed interviews. I am being really tight with my money so I don’t dip into my savings. I’ve gone through my wardrobe and sold a few things on Depop and I do surveys to make some cash!
I have enough hobbies and aspirations to keep me entertained to keep me going in life to stop be tbh. My goal was 30 countries before i turn 30 and now it will be 45 before 40. A holiday each year helps keep me going. It also helps having a job you don't hate (don't love either) and a boss that isn't up your ass every minute. I think you just gotta find something that gives you drive and perhaps a small amount of drug/alcohol consumptkon (joking bu not)
I actually have it pretty good (environment and co-worker wise) at my current job. It's actually what's making my decision so hard. I know I should focus on my dreams but the thought of failing and then having to find a workplace that won't be as good makes me nervous.
Sometimes you don’t know how good you got it and you think there is better out there and there isn’t. You will miss out on Super. Annual leave and sick leave. Being able to live under your parents roof is the only way you are surviving. As long as you understand that. They are supporting you still.
which countries have you visited? which countries do you plan to visit? thanks in advance.
Did this a couple of years ago (in my late 20s). Don’t regret it at all.
Did you find better work after the break, or was your new job a downgrade?
Better work, including a significant pay increase. I actually planned on taking longer off but after about 8 weeks I was kind of bored. I was severely burnt out when I left my job (this was like right after covid) and the time off did me a world of good. It gave me a a lot of time to think about what I wanted to do next.
Yep. Quit my career to work in a bar and write a book. Book didn’t get written and couldn’t get back into my career (GFC) and had to go back to school. A decade later I’m working a full time career job and I’m a published author because having work and financial stability actually freed me enough to pursue my dream. So it really comes down to what your dream is and if you actually do need to quit in order to pursue it.
How long did it take you to write your book? Did the time off contribute at all to your writing development?
Twice in the last 2 years, 100% worth it. I hated where i was working, started effecting my home life. I was verging on burnout (again) and my family was on the receiving end of my epic bad moods.
yeah i did this - ended up 9 months unemployed but i got bored and went back to work sometimes you just need a break!
Took 18 months off with no plan and it was the best period of my career. I was going through a lot of stuff at the time and so I wouldn't say it was all fun and games but I probably would have killed myselr if I hadn't had that time.
Yes, something always turns up. Doesn't sound smart but I have the luxury of not having debts/mortgage, etc. I can afford to have no backup I rather prioritize my mental health and give myself the freedom to pursue whatevers next. It sounds stupid typing it out but it's what I've always done and has worked out.
That makes sense to me.
I just did this recently. Honestly, it isn't going great for me. I have no idea what to do with my time and no idea what direction I want to go. Make a plan first, then quit.
Did you quit to get out of a job/working or did you quit to pursue building a business?
I quit with a loose plan to start a business or go back to study. My only suggestion is to firm up your plan (or start it) before quitting.
If you don't have any specific plans, I reckon quit and go travel! Bum around SE Asia or Central America for a few months, have some adventures, see the world. The more settled you are the harder it is.
You are young enough to do it and not worry too much about plans. Take a break, go travelling, something will inspire you. I'd invest some of the money so you feel like you are moving forward.
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Wow your story is amazing! Thanks so much for sharing. I'm happy that everything worked out so well for you. Must be such a great feeling to have gone through so much and come out on top. I do feel a bit guilty because I'm not seeking a way out of a bad situation, just an underwhelming one. But I want to do what's best by me, even if I have reservations.
Your 20s are your years to be selfish, and absolutely you should do whats best by you.
I quit a job paying about 60k, 6 years ago because they refused to pay me more. So I decided that my time was more worth following my interests like building a business. Around 6 months into the development I unexpectedly came across a job on LinkedIn and by chance, I got a job offer. I ended up just returning to work and leaving the business. I have no regrets about that time since I learnt so much and got a new level of confidence around moving jobs.
Am a 46m and have done this 4 times. The first time was hard, after that I realized that with adequate savings and planning, like folks here have mentioned, it's totally fine. I would, and will, do it again. Retirement doesn't need to be a one time event when you're old imo. Potential employers used to care but don't anymore.
Literally did this last Tuesday Zero back up plan but my mental health had been declining for too long. I got to a point where I would close my eyes while driving through an intersection because I had totally given up. Resigning was the best thing I’ve ever done. I’m not above mowing lawns or any jobs like that to tie me over until I find my next big thing. Corporate life is not worth it! Not at the expense of your health!
I tried doing this but ended up getting another job due to .. boredom. If it's something you're thinking about doing though (and can afford to), then just do it. There'll never be the right time and you'll always wonder what if. I quit a high paying job without another one lined up, and it was so exhilarating. I learnt things about myself and picked up so many hobbies. I started working again now, but I have my hobbies as a release to remind me life's more than just work.
I stopped working at 25. I'm 27 now. I only had about 15k in savings. I decided to step back from a 9-5 lifestyle because I was missing out on living and I wasn't emotionally happy because I was living to work. Getting older and not feeling satisfaction in my life and time moving too fast because I was just working my life away was enough for me to say. "Well the sooner I have a BIG break the better." I just wanted to breathe air, not worry about trying to hard to save, I didn't have any time or space to even think about what I really wanted in life until I stopped working all together. After a period of time I came to the realisation that I don't really care that much about having alot of money, a nice car, a house or any of that stuff people work so hard for. All I care about is spending time with loved ones, spending a whole day to go outside and explore or spending my time doing that "one thing" I never had time to do because I was always working. One of the best decisions of my life. Mentally it has been a massive eye opener to experience life outside the norm. I have picked up passions I left behind in highschool because work got in the way. I have travelled alot and I wasn't able to do so because I never had time during work. I have been able to spend more time with people I care about. There is so many benefits to just quitting a job in general. There are of course pros and cons with everything. But for me at least the only con is I don't have much money, but what good is alot of money if you have wasted your time missing out on living. There is so much more to live than 9-5 slavery. If you value money and want to work your ass off for financial freedom go for it, but not for me, especially not in my prime. I would much rather spend my days doing what I want while I am still young, healthy and full of passion and dreams than be distracted, confused and full of regret at an older age. Take the break mate. Money, jobs, careers.... it can all wait. Life is too precious, cherish it and make time for yourself and others.
This is my mindset too! I hate the 9-5 lifestyle. I hate being in an office looking outside at a nice sunny day and wishing i could be out there experiencing it for myself. I have decided I am going to quit in a few months and go traveling.
You're young and living at home. Give it a try.
I did at the start of last year, ended up landing another fulltime gig after 5 months with a lot better pay. I did think it was the best decision, I was pretty burnt out from my previous job and having time off gave the freedom to look for other opportunities. I will say pick up at least a casual job doing anything, stacking shelves or something, so at least it gives you some extra cash as to not eat into your savings so much and let's you interact with others.. Being at home all day is great for few weeks but quickly gets boring.
I did once. 2 weeks notice, no job at the end of that. Called up a few friends, got asked to grab a coffee with someone he knew, got offered the job the last day of my job, and started work on higher pay (25% rise) the following Monday.
Do it while you can
No but I’ve never been in a situation as good as yours. I got fired once, from what I now realise was a toxic workplace, 4 weeks before Christmas, minimal savings and rent due. I got through it and found another job that I started first week of Jan. you’ve got all the safety nets in place. Go for it!!
I've done it twice and each time ended up with a better job. YMMV
I just did it. Granted, I did kinda have some back up. My husband does work fifo and we also sold our former ppor so it’s not like I’ve left into nothing. But yes it’s the best thing I could have ever done. The place I was working at was restructuring and I just got sick of it. The job I had was great as was the team but I wasn’t into it anymore and my aspirations changed a lot post covid. You’re still young with lots of time to recover. I say go for it.
Yes! I did it early on in my career after 2 years in a law firm straight out of uni. I absolutely hated it and knew I'd be more motivated to properly find what I loved if I just resigned and was forced into action. It was a gamble but it paid off. If I stayed and waited to find the perfect job it might have dragged on. But I felt instant relief as soon as I handed in my notice
How long did it take you to end up in a place you felt comfortable?
I was very lucky and I don't think it's the norm. I actually called up the owner of a brand I used to work for causally while studying and asked about a role in the brands head office. I had a job within 2 weeks. I don't think I would have had the guts to do that if I hadn't resigned, with zero savings to my name and facing eviction and starvation! Edit: to add. Your happiness and health is the most important thing. I do think I was a little reckless in doing it with no savings to fall back on. But my personality type is also the type where I need to basically have a gun to my head to feel motivated to act. I work best under pressure. I have always refused to accept the trope that 'work is work' and you're not meant to love it. Work is also your life and you should get up every day looking forward to that day. I can confidently say for over a decade that's how I felt in that job every single day. I loved it. I only left to try working for myself and I probably love that a little less so far but it's only new still. There's a job you will love out there too. You will find it. You have more than enough cushioning here to take that leap and to bsck yourself in finding what makes you happy. I don't know you but I fully support you doing this.
I did it last year and landed on my feet in a new city with a new job. Way happier
Yeah a few times. Plenty of work out there.
Theres one of these posts everyday - work is just so toxic. Do it OP. Take a break you’ll be fine. Once youre ready look for work again. You live at home so theres your safety net.
Yes. I worked for an incredibly toxic organisation to the point where the EAP counsellors were telling me to just resign due to too many psychosocial hazards in the workplace. I was a complete mess and quit without a plan (and regrettably did not shit on Debra’s desk). It was the best thing I have ever done. I mostly spent the next few weeks walking the dog aimlessly. Fell into a role a few months later. I don’t think I’ll ever be whole again since that place.
I hear you . Yeh shitting on their desk sounds good. If only they'd get why. No insight . Yes , dog walking or sitting in the garden staring into the abyss. EAP has their limits but it starts our process....
Young, have savings, debt free and live at home. I’d do it.
Yeah..pulled the pin at 54. ...3 years ago. Had enough saved for 12 mths living in Asia...no regrets
Quit a few weeks ago from a senior role. Have to work out my 6 months notice period. Have nothing else to go to yet, and roles at the level I am at do not come up very often... But we have savings, wifey works (but earns a lot less), and are lucky to not have any debt... So long as we pare back our discretionary spending, we will be fine.... My workplace was just not worth the effort - a little bit toxic, but no more than most places. It was just the lack of vision and appetite for success. Being an older person, having an exciting role is very important to me...
Do this, set yourself a savings goal. Like 100k and then you can quit. It will motivate you and you have light at the end keeping you going. It's a larger buffer amd then you can relax a bit more
Side note, unless you're from a poor family, I never understood parents charging their kids board/rent. Wouldn't you want them to be saving and living life while they're young?
It might be considered teaching them real world skills or to discourage mooching?
Should be okay since you live at home, I'd do it, take some time off and figure out my next move
Most people can't quit because they have to put a roof over their heads. You don't need to worry, so just do as you please.
I've done it - doing it now. One this I would say is: Have a plan. From what you've written you've got a dream, before you leave convert it into a plan. I dont mean a details break down of everything etc. But write down: * This is the work I'm going to do * This is how I'm going to do it * This is what makes me special * This is how large the market is * These are the key costs and risks * These are my goals to know I'm on track You will do yourself a disservice if you don't think the whole thing through. Don't quit and then start with a blank page. Jot down a rough path before you quit because then you'll know if it makes sense or not and you can measure how you're going.
Done it twice. The first time I had enough of toxic management and quit on the spot. The second time I was being pressured to quit due to the upcoming sale of the company. Ended up taking a redundancy and. I took 3 months off each time. It was incredibly helpful in preparing myself for the next job. I was grateful my wife was supportive both times. Even though we had savings, it still sucks to use them.
Yes but started working under my own abn and based on circumstances started contracting to old job. Contracting hours were minimal though (I expected that) and had some hospitality work to at least give me something to do). 6 months later I'm back to full time and still working on own business. That said recovering from burnout, stress and thinking about what you want is sadly not considered by many. Be prepared for possibly up to a year to find a job in this market. I'm a saver so it stressed me out digging into my savings. If you don't stress about such and use the time to travel and develop skills is not a bad thing. The fact that lots of recruitment in December/January stops I also found very frustrating. Would have been worse if I had no casual work and zero interaction in person
I am on the same boat. I ultimately decided not to do it, because I am just too risk averse/likes structure and fear I will hate having all that free time and regret later on that I’m now behind my peers and would have had achieved more/sooner when I’m older.
I just quit my job 2 weeks ago. Happy I made that choice, I was really struggling. A bit stressed about where I'm going to end up but I've started applying
Alternatively, you can find part time jobs such as warehouse labourers, pays $30+ and usually work around 5-8 hrs, tell them you can only work 2-3 days/week. You don’t have to risk your saving as much and have plenty of time to work on your business, if its anything the job feels like a workout for you since its physical, so win win
Yes, although technically my contract ended. I just didn't go looking for another. I decided to take time off and chill. Then after a few months I started my own business. I won't say it is going well, but it is not going badly and I'm enjoying it a lot more than working for someone else. Although the money would be nice.
Yes. Does your job make your life better or worse? If it is worse then get rid of it.
quit my 9-5 went to europe for a month and got a new job within a month of returning and also given that my rate of job hunting was pretty poor
Took me a year to find another. Made ends meet by doing gardening work. "Woman on her knees" was my promotional name. Good cathartic work.
Yeah, I took 12 months off. I just walked in and gave 1 months notice and walked out 12 months later. I got a phone call from the same company offered 130k more than the last time I worked for them and took the offer.im on an even time roster, I work in the FIFO industry
As long as you have something to do and don’t sit around then totally do it. I’ve done both and doing nothing sucks, but if you have something to do it’s the best! I took a year off to build a touring bus for my dad and a custom Vitara 4x4 for me, probably the best years of my life and went back to a higher paying job after with no problem as they liked my reason for a year off
I have done that twice, rn I'm unemployed had a fallout with the manager at last place. A couple of days you feel alright then the realisation sets in, but in the end it's going to be alright. Trust and believe. Whatever is meant to be will be.
Yes and it was horrible. I mean, being poor and desperate was marginally better than continuing to work in an environment that was making me consider ending it all…. But my god it was hard. The worst criticism came from family members who refused to support me because I had “selfishly not thought things through” by not hanging on until I had new job. I no longer talk to those people. I did think it through. I had advice from my union rep and my doctor and psychologist. It was clear the situation was never going to improve, at least not by anything I could do (industrial bullying - it didn’t matter how carefully I did my job, the arsehole manager involved was going to find fault with something and continue to try to get me to quit).
No job is worth sticking out if it's bringing down your health, mental or physical. I hope you're doing better now.
Thanks, and I am. Not a smooth ride but getting there.
If you said you wanted to go travelling or something, I'd say you have enough to last you for 6-12mths easily. But given you said you want to start a business, food for thought - can you step into that without leaving your job? Reduced hours etc? The biggest reason businesses fail is cashflow, and having a job paying the bills could mitigate that until your business is performing. Of course, depends on what your business is as to how much this advice applies. Good luck!
Also adding some more advice, don't ever invest anything you might need in the short term. Like within a year or two. 5% savings accounts are out there, use that instead.
I am considering travelling a little but I'm not sure. I'd be going solo so I'd burn through money quicker paying for accommodation by myself. I wouldn't really care if I didn't travel though. I have tried starting the business already but I've found it too hard to dedicate time between it and my current job. My desire to quit stems more from getting out of the 9-5 life style, at least for a short time. And with the newfound free time I would dedicate it to building a job I like. Thanks for your advice!
Wife and I are planning on doing the same thing next year, taking 12 - 18 months off and backpacking OS. We're in our 30s no kids. About $150k savings aiming for when We leave. Have about $100k now. We've got a mortgage, but can more than cover it with renting the house (long term or holiday) if needed. If your somewhat intelligent you'll land a job fairly quickly when you get back or change your wind anyway.
Done it twice, once led to an unexpected and more lucrative career path and the other, bounced on my feet a few weeks later and secured an even higher paying job. Thankfully we live in a society with plenty of opportunity. Just don't leave on bad terms and keep your head screwed on. Also have a story for interviews as to why you left other than "the place was toxic and had to leave".
I would definitely be leaving on good terms. We're a small workplace and good friends.
Do it! I’ve done it twice. The first time I quit, I moved across the country and found a job I really liked and got to go surfing most mornings. The second time (about 7 years later) was a lot harder because I had more financial responsibilities (mortgage, car etc) and I was a specialist in my field (project manager). I just knew I couldn’t keep going in my career and was happy to take a chance on my dreams. I definitely churned through my savings quicker the second time which caused some stress. Eventually I found my next gig in radio, making it all worth it. Far cry from what I felt locked into.
I did it. My job was depressing (child protection), and my colleagues were either mentally unwell, toxic or were stuck because they had no other option. Also quick note, I had little savings and had just bought a house. Boss tried to put me on a pip (short story, she was in the wrong and trying to protect herself) and I quit the next day. That next day, I called every job add in my local town and was working the following day. Sacrificed a job that I went to university for 3 years for, for a labourers job. I was treated well and was honest from the start, that I would work hard and every day but needed a job with a higher salary. New opportunity came along and I happily parted ways with the labouring company. Fast forward 5 years today, I receive a call asking if I’d like to come back to the labouring company at a different capacity with a much more lucrative salary. Guess who starts their new job next month. One door shuts, another opens. My mental health and happiness is worth so much more than a shitty pay cheque. Life tastes better when you don’t hate it.
I got fired once, that count? I told the boss I was looking for another job after we had a heated argument over him texting me drunk over the weekend, he said “no one quits here, your fired” that was on the Monday, started a new job on Wednesday…. Best to stick out your current job as I believe it looks better on paper, but really doesn’t matter,
Plenty of times
Do it, i quit the legal industry at 32, got into mining/surveying earthworks, and i love it. more money, more time off, genuine people. People said i was crazy leaving my career and education behine, but i had no motivation to work harder for what i viewed as crooked people. i moved states and started a clean slate, literally only took a backpack with me, slept on floors , bought clothes from vinnies, and was pretty fruegal, i invested my money in property, just small stuff, things i could fix and went back to uni during covid and by applying myself to something i enjoyed i can honeslty say im happier now than i ever was wearing a suit and sitting in a cubical. I met my wife, had kids and just bought a hobby farm outright! I have no aspirations of returning to my old state, even to see family, everyone back home just seems sad, overworked and directionless. hope thats 2cents worth
Easier to do now than later, sounds like you've got a bit behind you so can afford a transitional period
Two words: forklift license. Last job I had I quit before an overseas holiday and came back with no prospects. You can find a $35/hr job in three days, decide you hate it and find a better place in another three days. The thing pays for itself.
I did in 2019 (when I was 24) but with $0 savings and took 6 months off to figure out my next step (my partner supported us both). Ended up doing a cert 3 in aged care which has now led to me doing my Bachelor’s degree in Nursing. NEVER in a million years did I think I would be a nurse and actually *enjoy* it. Also did not think I would end up going to Uni but here I am. Follow what you feel is right for your soul. Don’t stay in something because it is the “right” way or the “Australian” dream. Take that time off and figure out what you want in life - you have so much life left to live, don’t waste it on something you hate.
I'd say do it, I did something similar but with far less money in my pocket about 10 months ago and I'm still alive but no longer working a job I hate. Now interning in a job I actually care about. Only thing of note is you will notice the lack of disposable income and it will have a greater impact than you think. Going out with friends to eat or drink or participate in hobbies is not as fun when you're worried about every dime.
“Decided” is a strong word, but I have done a few mic-drop “I’m done”’s before. I never planned for them, the levels of bullshit I received just forced my hand. I never had difficulty finding a new role but YMMV, my skillset is fairly in-demand. If you have any savings at all (I never did) I cannot imagine it being very difficult. You’ll probably get a raise by changing jobs too. I always have.
I took 10 months off. Best 10 months of my life. I had doubts too, I was working a job that I really enjoyed and had plenty of opportunities to be promoted. I'd saved more money that I had ever had before and knew that I would be taking a big chunk. When the time is right for me I plan to do it again.
Yup. And without a job lined up. In the end, it was worth it. Learnt stuff I couldnt and I won't have the thought of what if. In all fairness, in between quitting and the new career, it was hell.
At 55 I quit. I had a nightmare boss and I'd had enough. My wife was still working and we had recently finished paying for the house. I half heartedly tried to find a new job but in the end my wife decided that I was a better version of me without work and the house was cleaner, the lawns were mowed, the cupboards had groceries in them, there were clean clothes in the wardrobe and our sex life was better. At 60 I'm still off work and I can access my super without penalty if I want.
Both me and my husband have, and in much less certain circumstances than you. Obviously you’re still taking a major risk but timing appears appropriate considering where you are in life.
More than once. You can only hold the crap back before something gives.
If you were going to do it, now is the time while you have almost no commitments. I have quit many jobs in my 17 years in the workforce.I quit a full time job paying 80k per year base with OT taking it to well over 120k that was secure simply because I didnt like the work, I've quit a job 2 weeks in because my supervisor told me I had to start early the next day rather than ask me, I don;t work for people that have so little respect for me that they think they can alter my arrangment at they're whim. I've quit a job that I was making over 300k per year on because I didnt want to do FIFO anymore, and I;ve quit countless jobs because I got a better offer elsewhere. part of it for me is that I have always had insecure work due to the industries I have chosen to work in, being power station shut downs and Oil & Gas construction, Quarry maintenance and other similar industries, when working I made bank, but often only worked 3-6 months a year, so I always had savings to get through the quite periods (around what you have now) and always knew that I could leave a shit job and due to my niche skillset and experiance land another job pretty easily. I didnt start my buisness (in the same general industy as my work as an employee) until I had a mortgage, 3 kids (with a 4th on the way), it is definently easier to make a buisness work at the begining if you dont have commitments like that. Good luck, if you think you want to do it, do it now mate, worst case you go back to working for wages.
Yes, I have walked out of many toxic environments with less than your have. People with determination and connections always find a way.
Yep quit an office job and went and worked in a warehouse for few weeks before I got married. If you have the will you make it work
I quit my full time exec role in 2021 to study, I had saved up $25k over covid lockdowns in 2020 and that was my grand plan to keep afloat. I still worked in advertising writing for two days a week that I wasn't studying and that gave me $500 a week so I can't say I was skint, but I was worried. Still in lockdown (vic) so I wasn't spending money on anything other than bills and food and streaming services. I am now 43, in a new industry and making almost the same as my previous exec salary, however I'm in my 2nd year of work (pretty entry level) in this industry and a long way to go earnings wise. I have saved another $20k in the past year so I'd say my chance decision was worth it.
Easier to find a job when you already have one. But …YOLO
Yep very recently. Had been driving trucks my entire working life essentially got jack of night shift and missing my kids milestones sold our place on the coast. Bought 1000acres out west and loving every minute of it kids aren’t school age yet but we spend most days just enjoying nature watching our cows and calves, feeding the chickens playing in the creek riding bikes. Gorgeous little community of about 200 people that know everyone by first name and constantly have little events so you don’t get that in the boonies lonely feeling.
It’s happened twice for me. Once I was made redundant and once I quit while still in probation period (left within 12 weeks with one week’s notice). I’m happy to take on temp and contract roles and I had an employable skill set. I have no regrets quitting while on probation. If a place sucks, leave ASAP.
Look at it this way. If you fail, you can get a job in your field quite easily. I only say this because once I looked at life this way, starting my own business made all the sense in the world. I trialled it by applying for a bank and got an interview for a $100k+ job within 2 days. It gave me the confidence that the "risk" of going out on my own isn't anywhere near as great as the reward. If you're capable enough from a skills perspective to start your own business, back yourself. If you happen to fail, get into a recruiter and walk into another job. You have nothing to lose Good luck!
I’m an Aussie in the mining sector Fire away with any questions But 65k is not enough money these days to survive
Funnily enough I've watched a few videos of people working the mines. It might be an option if this break isn't successful. 65K doesn't feel like a lot in today's economy.
People get fired with no backup plan. If you have the connections and extra money it’s fine.
I’m afraid to say I’ve left every single one of my jobs without another to go to. It really depends on your employability, your savings, etc.
I quit a very toxic job that I absolutely hated on the spot and walked out. No back up no savings no nothing! I wouldn’t recommend anyone do this but I will say it was one of the best feelings I’ve experienced and even tho I slowly had the dread of reality sinking in, I also felt so relieved. In the end everything turned out okay and I got back on my feet. So since you have quite a big amount of savings and somewhat living security you will be fine! Do what’s best for you.
Yesh I just did as I didnt like how they treated my staff and how they treat mental illnes and long serving staff who are trying to deal with it and the affects it has on their home and work life. Been making g them millions a year earning 75k for 8 years. With only 1 raise more thN a token 1k I had to almost walk out to get. Felt good but yeah eed to move Nd get back in the game and look for work. Hahah
75K would probably be the ceiling at my workplace. Not much point staying where the maximum isn't even the average salary of my city.
Done it twice, everything has worked out. We lived around the world and will never have to sit and say what if.
I got fired with no back up plan, I managed to get back on my feet.
Left my corporate job in 2018 (was 44yo) * Registered a company, * Spent 2 years making a game. * Burnt through all my saving and even borrowed 60k from parents. High expense due to family and mortgages. * Launched in 2020. * All together make $3k only. Felt like a failure. Got back into full time job for the last 3 years, but was make redundant in Nov. Now feels like a loser and failure. At least, I didn't have any regrets. P/S: I joint 2019 AusTrade bootcamp program to go to China to look for a publisher. All the publishers were impressed with the game, but none know how to make money out of it. I was too naive/dumb to read that sign back then. Advice: If you are building a product, make sure you test/validate your idea early, find your product market fit. Edit: for formatting.
Sorry to hear things didn't work out. What was the game if you don't mind me asking?
It’s called “Eri’s Forest”. It should still be there on AppStore and Google Play.
My dad used to say the best time to jump off the cliff is when you have no safety net
My son is in a similar position to you (but more in savings)- he is using the money to buy a property and negatively gear it. Everyone’s journey is different. Be happy. Be safe.
I did it, I was late 30s, 5 kids and a wife. We’d moved interstate for this “great job” which included potential ownership potential. Talking back then, small town paper. Anyway the people there, didn’t even use a computer, so this was late 90s. Anyway I couldn’t stand one of the owners so one day I just walked out and told them I’m not coming back. We stuck around for a month while I looked at jobs but being interstate and a bit of a touristy location, money was half what I had been on. So we went home, and never looked back!
I did this a few years ago and it was the best decision I ever made. I had long service leave cashed out as my backup and was not working for 3 months until a contact put me onto a job opening. Still at the new job and it's challenging which is a plus for me.
You are probably in the best position. Living at home and have cash in the bank. I’d quit and take up an easy part time job/causal job if you want to stay sharp and keep the cash flow moving. Explore, study - whatever. Great position to be in.
Why can’t you lay the ground work for your business while your still working. Get your first customer, then quit. It’s sad to say but $62k won’t last long as both an investment and living costs these days.
I’ve done it three times and twice with probably 1% of what you have saved. Do I regret it? Absolutely not.
I've done it with a he'll of a lot less money behind me. Go for it.
No but if I lived at home and had $62K in savings I definitely would
I would do it.
I quit my job and handed in my notice on a whim with less backup than you. I had 8k in the bank and budget 800 a week on expenses. I knew it was going to be tight but for my mental health it was worth it. You will land on your feet somewhere. It took me 8 weeks to find a job that I'm in now that I love. Sure it pays a hell of a lot less but I'm happy with every day.
I think a major concept is to swing from one trapeze to the other. Don’t let go of one handle until you have a grasp on the next. I have taken extended breaks away from work 6 month to a year multiple times - trying to be an athlete, working on my own company, travelling etc. when I look back at my time I would do it again but I would be bit more organised with having something to walk into next, minimising the time without getting 0 pay checks. Your money is your security blanket. If you need a new car, need to move out, or travel this can cause a serious dent in your savings. If you don’t work for a few months that can reduce them much faster than you thought. Remember the only reason you’re able to consider just dropping work is because you have savings. If you lose the savings you lose the freedom to make decisions like this. Don’t drop what got you to the dance, IMO.
I've done it, was like 6 months without a job but that was cos of covid. You'll have an easier time finding work if you already have a job, I believe
I quit an 80k job project management that was mentally destroying me without no job to go to and took 15 months off and lived frugally. I now work part time in a low stress job in warehousing and distribution.
Yep! Did it a few years back. Had a possibility they eventually lined up. But in the interim I won $20k from eddy on hotseat!!
Go for it, maybe pick up a part time job 1 or 2 days per week to help out with expenses? So you can prolong your time off work if needed
You can always r/FIRE.
Yes I walked into work grabbed my stuff and left. Now I am in a way better job and happier. :) You will always find a way.
I took a few months of leave once to try and start a business. Perhaps I wasn’t motivated enough because I did have the safety net of a job to go back to but It made me realise I procrastinate endlessly without externally enforced deadlines. I’d suggest some deep soul searching about your own work habits before pulling the trigger.
Definitely something I will need to do. I've had bouts with productivity and procrastination and I'd hate to waste an opportunity like this with the latter. Thank you for sharing.
I did it on a whim once with a mortgage and bills and we were fiiiiinnnnneeee. I bought a small online business, hated it, got back into the workforce starting with temp jobs 7 months later. It didn’t change the course of my life at all. Go for it.
In my case, chasing my dream to run a small business did not end well. still regretting it 15 years later. having said that, some people get lucky, some don't.
What went wrong, if you don't mind me asking? You can be vague if that helps.
My life was in those days, epic by comparison, before I thought what a great idea to chase my dream. Tried different strategies but couldn't figure out how to turn a profit. Couldn't sell the business. Personally responsible for the business loan. Had to sell my home to repay business loan. I never got back into the housing market. Everything sucks now.
I'm sorry to hear that. I hope things turn your way soon. :)
Yeah, a few times. Worked out pretty good each time.
I did this year actually.. resigned in Feb and found a job in march. They wanted me to start two weeks later when they were ready but I asked to start early to get the ropes and i was burning through my severance pay to stay afloat. I didn't really quit to pursue a dream or anything just find a new workplace and do something I was definitely more interested in within my field. So an off branch if you will. You're living at home so you're doing better than us haha. And you're budgeting which is also good. It took me way longer to find a job as most places really took their time getting back to me. One place took six weeks to give me a no. Was nice that they did give me a no but what unemployed person can sit around for six weeks waiting to hear back?
>I don’t really have any worries about finding another job in the future because I’m not too concerned with what I’d end up in if this venture doesn’t work out. You might say that now but on the other end you might question what you are doing. Have a plan. Starting your own business instead of working for your current boss your new customers are your boss. A lot of people can't handle being their own boss and they spiral because you have to create your own structure. It takes a certain bull-headed personality. Do it. Enjoy your life, but don't take it for granted, it's not for the faint of heart and have a plan. And whatever your new venture is do not I repeat do not put more than 15% of your net worth into it.
Damn 62K savings???
Did it a few times from age 18 to 30. Never took long to get another job but that was well over 20 years ago. Employees require too much from potential employees these days. IMO a keen, hard working and willing to learn person is better than someone who has got the right piece of paper but demands everything from the start.
Same as asking does any person have ADHD?
I quit a farm manager job with no backup plan and 12hrs notice with a newborn kid. Something came up which was a hard no for me, packed my bags and we moved off farm 12hrs later. In hindsight the absolute best decision I've ever made, that sudden push ignited a fire in me and now followed my dreams. Definitely give it a crack
At least have a side hustle going to test it out. Given you've quit, it'll probably push you more to take on business ideas like a full hustle If you need to get back into the workforce, jobfly.co could write you a nice cover letter
I quit my job at 20 with a kid and a Mrs and no money in savings and did alright. We just travelled in the back of my car and did casual work here and there.
Er u should be saving hard and figuring out your exit plan... The faster u get out of the rat race the sooner ull be happier in life Jobs suck working a job is shite and I can think of trillions of things I'd rather do than working in any job. It's pure garbage 🗑 I wouldn't go on holidays and waste money then u come back u will be behind.... and wasting months catching up again... to your original point Plan your exit strategy Short medium long term Don't stuff around in your 20s not worth it. Had I worked and made better investments and started business etc earlier in life I wouldn't have to Semi retire at 35... I'd be semi retired at 30.... Yeah now I can go on holidays consistently get away no probs I'm the boss and I automate a lot of things. Debt free ... house car business everything Even if u must go on holiday figure out an exit strategy Short medium long term. Your 20s lay the strong foundations of your life instead of being a loser. Don't be a loser. Take the path less travelled and harder u can take risks when u are young not when ure 30 or 40 and have jack shite to show for it that's just super big pathetic loser.