Collaborative Post

How much money do you need to quit your job?


The truth is, there’s no one set amount that you can earn and be ‘set for life’ or have enough money to quit your job. Sure, just about anyone would tell you that if you win a jackpot worth several hundred million (like the Powerball and Mega Millions sometimes give) you could quit your job. But what about lower amounts of money than that?

Piggy bank with money
Image by Damir Spanic on Unsplash

Quitting your job

Before you quit your job one of the first things you need to think about is how much you currently live on. How much money are you making throughout the course of the year? You may be able to cut some of that by looking at money that you’re not spending right now or that you won’t need to spend once you quit your job (like possibly cutting back to one vehicle and saving on car payments and insurance).
Now, think about what you would like to do when you leave your job though. Will you actually be spending less? Or will you be hoping to spend more? If you’re planning on traveling you may be spending more than you did before (depending on the type of traveling you want to do).

Planning your life

The key is to make sure you plan for just what you want to do and where you’re going to spend your money. Once you know that you’ll be able to make a plan for how much money you really need and even how much money you would like to have (but don’t necessarily need to have). Just make sure that you’re thinking about all the things that you could do and enjoy most when you’re completely free from the 9 to 5 life.
Remember, once you quit your job you want to be able to enjoy your life and that definitely means sitting back and relaxing. It might mean traveling. Or shopping. Or camping. Or any number of other activities that you enjoy. So make sure that your budget is going to allow for all of those things. And then take the initiative and change your life. Once you quit, it’s going to be all about you again, rather than just being all about the job.

Preparing to quit

So, how are you going to prepare to quit your job? One thing you may want to look at is actually playing the lottery. Sure, it’s not a guaranteed way to make money or to be able to retire early. But it is going to be fun and it’s always fun to plan just what you would do if you did win that big money, right? So why not give it a shot and see if you could win? All you need to do is visit to pick out which game you want to play.