Are you financially prepared to quit your job to start something new? There are so many aspects you need to consider, and financial expert, Ryan Inman, is proof that sometimes taking that leap with only your savings account is enough to land on your feet.
About Ryan Inman
Ryan started his business, Physician Wealth Services, after leaving a hostile work environment. He got to the point where he just couldn’t take it anymore, so left his job without any notice. While Ryan landed feet first, he also had a solid savings account built up after years of working.
Perhaps the most important interpersonal lesson from Ryan is that you should always endeavor to help people without the expectation of anything in return. This is how you build relationships and your network, even if you didn’t have an existing one when you started your new venture.
Ryan talks us through how to prepare your finances for quitting your job. It starts with knowing how much you spend each month, building a savings pot (or nest egg), and speaking with people in your new industry about what kind of money you can expect to bring in.
When it comes to saving money, it’s easy to listen to experts weighing in on your weekly Starbucks. But why should you cut something out of your life that brings you joy? Save money on something that you don’t like and that isn’t necessary.
Finally, Ryan gives us the low-down on student loan debt. There are things you need to know about your student loan repayments, even if you aren’t thinking of quitting your job. But if you are, there’s also a host of things you should avoid if you’re encumbered with debt.
Do you know how much money you’re bringing in each month, and how much you’re spending? What expenses can you cut out of your life to save money? How will you handle your debt when you quit your job? Let us know in the comments below!
In This Episode:
- What happens when you take a leap and leave a job without notice
- Why you need to leave hostile work environments when there is a better life out there
- How to build your network from the ground up
- Why you should help people without any expectation of something in return
- How to prepare your finances for quitting your job
- Why you should speak to people in the career you want to switch to
- How to choose what to save money on; it’s not necessarily about the Starbucks
- What some things to avoid are if you want to quit while you have significant amounts of debt
- What you need to know about student loan repayments
“If I don’t do this now, I’m never gonna do it. So let’s jump in!” (6:56)
“When it comes to saving money, I want you to think about cutting something that doesn’t make you as happy as other things.” (18:15)
“If you have student debt, it might stink, it’s not the sexiest thing in the world, but please understand what kind of debt you have. Is it federal, private, what repayment options are available to you because before you quit, you want to understand this? It might have drastic implications on what you do going forward with your loans.” (24:21)
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READY TO MAKE QUIT HAPPEN?
Then you’re in luck! Because my online course, Make Quit Happen, is available to start now! It’s a six-week program in which each week we tackle a different step in the strategic quitting process so that at the end of the course you know WHAT you need to quit, you have overcome any quitting-related FEARS, and you’ve got HOW to make the quit happen all planned out!
Sign up HERE!
Get my book, Quitting by Design!
And if you happen to be feeling stuck in some area of your life, and may be contemplating a quit or wanting to learn more about strategic quitting, come hang out with me on Facebook, Instagram, and YouTube!
In addition, I’ve started taking on private coaching clients, if you’d like to be one of them, click HERE to set up a call so we can dive deeply into your unique quit.
Also, I’d love to have you join us over in QUITOPIA, the facebook group for the few, the proud, the quitters, where I share more quitting related content and we can all interact and support each other through our quits.
One last thing – if you have an iPhone, or an iPad, or an i-Anything, and you find the info on Quit Happens to be valuable, I’d really appreciate it if you could leave a rating or a review. To do so, pull up the show in the Podcast app and then scroll to the bottom, and click on write a review. Giving the show a rating or review or sharing it with a friend all are great ways to help other people find the show so they too can get started quitting their way to a more fulfilling life.