[USER]

Need advice on quitting my 9-5
I have a 9-5 that pays very well ($135k a year). My company that I started 2 years ago will do about $200k this year with profit margins close to 90% (basically zero overhead).

So, with both jobs I’ll make around $300k this year. But, i feel like im running myself into the ground.

If I quit my 9-5, I’ll be working under 20 hours a week at the start while I grow my company.

Just don’t know what to do. I have great relationships with my boss and my colleagues, but don’t want to burn any bridges.

I can coast at my 9-5 and work around 20 hours a week there, but getting tired of doing both.

If money wasn’t a factor, I would quit tomorrow and go all in on my business, but the steady stream of income and benefits is so good, I don’t want to give it up lol.

Any advice?

[Derek]

Congratulations! This is a great problem to have. My question is what you’re doing with the money you make and how far are you from your financial goal(s)?

[Drew]

I don’t have any advice just one caution:
Make sure you don’t undervalue your benefits when running the numbers. Benefits can often be worth 30% or more.

Just make sure you’re taking it all into consideration when making your decision.

I have had several coworkers break off from the corporation and take much higher paying jobs with independent firms in which they were responsible for their own benefits and it ended up not being as lucrative as they thought it would be.

[Brittany]

Can you hire somebody to manage the business? With that kind of income should be able to bring in somebody to do the work while you step back.

This may also help you scale it and make it grow.

[Mindi]

I quit my job to work on my startup business and it was the best decision ever.

[John]

Just need to know what business you started that is now at 90% profit and where do I sign up

[GlorIa]

How old are you? How close are you to FI? Those are some variables to consider

[Doug]

I mean unless your expenses are wildly high it sounds as though you can easily quit.

If you’re making that kind of money working that few hours with your business than your time is obviously much better spent there/ growing that.

[Neil]

Quit, put the extra time in scaling your business until you’re comfortable

[Alexandra]

Quit, you can make way more on your own, you’re not burning bridges you’re levelling up

[Destiny]

You could afford to get benefits though. I say try it and your backup plan is going back.

[Ben]

I quit a decent job several years ago to go full time on my company. Was a good decision and I even did occasional contract work for my old employer, no bridges were burned at all.

[Nikki]

Is the social piece of your 9–5 part of the concern? I hear you on the benefits, but I can also see the social connections being an important part of your current job.

Will you be able to make new connections in the same way on your start up?

[Dennis]

Man, I wished I have to the balls to do it. I may ended up not spending much time with my kids if I go on my own. I only see them on weekends..

[Dennis]

Man, I wished I have to the balls to do it. I may ended up not spending much time with my kids if I go on my own. I only see them on weekends..

[Karen]

There’s more to life than money. Do you have enough saved to “coast fire” – in other words, if you leave your retirement savings alone will they eventually cover your expenses when you stop working?

If so, maybe it’s time to step away from one job (probably your 9-5).

If not, can you push yourself a bit longer until this is the case, make that the first goal and then step back?

[Michael]

There are so many factors. Does 135k after taxes pay the bills? If it does, you could invest what you make from your business while living off your 9 to 5 annual income.

How much is saved and invested? How many people are involved?

[Donna]

Your new venture makes more money than the 9-5 already. If you feel it’s not that stable and reliable yet maybe you can wait another year or coast.

If you want you can do an experiment.

I’m sure you have vacation time, take all 3 weeks off from the 9-5 and do a little experiment pretend that you already quit the job and see how it feels.

[Nicole]

How will you burn bridges by leaving your 9-5? People quit jobs all the time.

Give them a standard notice period and then move on and focus on growing your own company.

[Author]

Posts