How to Quit the Rat Race

And while we're talking about moving to a job you like versus one you don't, what about the issue of hanging it up altogether -- quitting work for good? Who hasn't dreamed of doing that?

MSN Money has some thoughts on how to do this in their five minute guide to quitting the rat race. Here are a few of their thoughts that I thought were especially good:

• Don't immediately quit your day job.

• Calculate how much you need to live on. Try it out for six months before you commit to a reduced lifestyle. You have to know if you can truly live without the comforts you have or envisioned for yourself in the future.

• Consider relocating to a more rural area. Can you ply your skills in a smaller setting? You'll likely earn less, but the cost of living will be lower and you'll spend less time commuting.

I would really, really, really like to echo tip #1. As I said earlier today, the pain of not having a job is usually much worse than the pain of staying in your current position (even if you hate it now.)

I also like the other two ideas. It's good to try out what you think you want before you take the plunge because you may find that the grass isn't greener on the other side. And as far as moving to a new location, I've told you before that you can save millions doing this. :-)

For more thoughts on your career, see these posts:

• Managing Your Biggest Asset: Your Career

• Six Steps that Will Get You a Raise

• How To Find Your Career Passion

Comments

[Anne]

I'd actually recommend relocating to a more urban area as a possibility. You can get rid of your car, earn a higher salary and spend your commute working, reading or doing something otherwise productive. Housing may be higher, but in some big cities it is still affordable--Chicago is an example.

[Brian]

Although I wouldn't venture to say the urban areas of Chicago are necessarily affordable, I would definitely say they are more affordable than the other major cities like New York and LA.

Another thing to keep in mind when you are thinking about quitting your job - you have to realize your new "non rat race" job will still require work. Probably in a different form and in a different place, but still work nonetheless.

[Telemill]

Wait a minute . . . doesn't getting out of the rat race mean not being "required" to go to work? If you have the commitment of a regular job, then you are still in the rat race. Correct?

[Harrison]

For me, getting out of rat race means you simply have a choice to work or stop working. If you love your job, you still can continue with it even after getting out of rat race. Getting out of rat race, become financial freedom is just simply giving you more choices for your life