When you think about it quit your job, there are a few things to keep in mind as you move on to the next few steps. Whether you're moving to a new employer, self-employed, or retiring, you should make sure you don't make some of these common mistakes. Let's talk about some of the things you might want to know before you quit your job.
What to Consider Before Leaving Your Job
It goes without saying that the best time to find a new job is when you already have one. If you have the flexibility, try planning what will happen after you quit your job. Here are a few things to consider before quitting your job:
Have you saved some money in your emergency fund as it can take a while to get your first paycheck on your new job.
If you have a corporate laptop or phone, make sure to remove all personal information before your last day
Your health insurance is likely to change – if insurance keeps you in a good position with your current job, be sure to schedule doctor and dentist appointments before you leave
Repeat Your Büdget with the information for your new job or financial situation
How to Renew your 401 (k) Plan
Another thing to keep in mind is any 401 (k) or retirement accounts associated with your previous employer. Unlike an IRA that is personally owned by you, 401 (k) accounts are tied to a specific employer. If you don't do anything, your 401 (k) account will just stay where it is and you can lose control of the money in it. You will not lose any money invested in your 401 (k), but it is best to transfer your 401 (k) account to an IRA so that you can control how it is invested.
Other Financial Things You Must Do Before You Quit Your Job is what to do when you have company stocks. Of course, this doesn't apply to all companies, but it's important to understand how leaving your company will affect any stock awards or options you have. Most employee profit-sharing programs, such as options or stock awards, have a lock-up period. This means that if you leave the company before transferring it in full, you may lose some of that stock. Make sure you understand this process before quitting your job.
Make sure to leave a positive message
It is also a good idea to finish your job on a positive note. While most of us have dreamed of a memorable job exit, like Pull the inflatable escape slide on an airplane and slide onto the runway, it is best to keep your network intact and not to burn bridges. Do your best to make the transition as smooth as possible. Depending on your area, it is likely that you will need to interact with your former co-workers later on, so it is best to keep things professional. It can also be a good time to provide and ask for recommendations from your peers.
How to negotiate better performance or work-life balance in order to stay
When you are in a situation where you feel this Your salary or benefits are not where you think they should be, You don't necessarily have to stop. This can be a situation where you can have an honest conversation with your manager about your situation and how to get the salary, benefits, or recognition you need. It makes sense to examine options with other companies, but also to think about saving your current situation.
If you quit your current company, they can try to get you to stay. This can be a counter offer with a bonus, a better salary or a promise of changes in the work situation. While the decision of whether to accept your current company's counteroffer will depend on your specific situation, it's usually a good idea to proceed carefully. Even if you stay, your manager and others in your current company know you may leave and this can affect your future treatment.
The bottom line
You are responsible for your happiness and your work circumstances. So, if you have a job that doesn't work for you, it may be useful to quit your job to move to a different situation. If you are quitting your job, plan ahead whenever possible and be professional throughout the process. Before you leave your company, make sure you understand what will happen to any company stock awards or options after you leave. And once you leave your company, instantly transfer the money from your company's 401 (k) plan to a retirement account that you control.
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Dan Miller (70 posts)
Dan Miller is a freelance writer and founder of PointsWithACrew.com, a website that helps families travel for free / cheap. His home base is in Cincinnati, but he tries to travel the world as much as possible with his wife and 6 children.