Things to Look into Before You Quit Your Full Time Job to Become A Free Man

It took me years to finalize my decision to quit from my full time job. You might think that I should not have any worry as long as I am financially ready. As a matter of fact, there are also others areas I need to look into before I am ready. Here I would like to share my experience about things to look into before I make such decision.

1.  After quitting my job, I own my time. So, how shall I utilize my time? Well, this is a very personal question. To me, quitting job doesn't mean I have more time in front of TV and do nothing but to create more personal values. In other words, I'll rather spend more time to do what I like to do, such as get around with my family, gardening, reading, writing blog, road drive, building Gundam models, teaching Stock Investment, study a new language and many more. Yes, I'll make my life meaningful that creates happiness and enjoyment. In return, I'll be busier, happier and healthier. 

2. As I don't work anymore, I'll not have business card to show who I am. I have no designation as I don't work with anyone anymore. In case of doing any application or having greeting with the others, how should I express myself then? I've been thinking about this as I might feel embarrass if I express myself as an "Unemployed" or "Retired". I don't think "Unemployed" or "Retired" are suitable description anyway. When googling the work "Unemployed", it explains that this term is applied to a person who is "WITHOUT A PAID JOB BUT AVAILABLE TO WORK".  As for me, my scenario is that I quit the paid job and just don't want to look for any other paid job anymore as I don't need to. Instead of saying I am an "Unemployed", it will be better I describe myself as a "Freelancer". It is applicable as I am free to do activity I like as mentioned earlier. What I am doing are purely according my interests but for the interest of the others and definitely not for income. I am the owner of myself.

3. I have been working, saving and investing for years to attain financial freedom. Now, this day has finally come. Adjusting my daily living fund could be tricky. I have to do my long term budget in order to decide how much I should allocate my funds for short, medium and long term. These budget figures are not just plugged from the air but based on years of income & expenses recording. From there, I'll have a clear idea how much do I need for each essential category and respective personal inflation rate. In this case, my budget will be more realistic and justifiable. Since I don't have active income and I don't have to risk my fund for higher return, I put these funds into short, medium and long term fixed deposits accordingly in order to get stable return within my calculation. I'll have a peace of mind instead of sleepless night. You may wonder whether FD return is sufficient to offset my personal inflation. Well, FD is only one out of many investment vehicles. I have spread my investment in high, medium and low risk categories with different ratio. Since I don't have active income now, I will increase the ratio in low risk category while the overall return of the portfolio is still able to offset my personal inflation rate. This could only be done if you keep recording your income and each and every detail actual expenses.

4. My parents and friends might think that I am so "stupid" to quit a high-pay job. To them, money is everything. This is what they are thinking but not me. I have my own reasons to make this decision. I have no doubt about my belief. I am not easily shaken by the others since they are not at my position. Only I know what I want and only I could decide what is the best to me. What the others are thinking and saying has nothing to do with me. My decision is to make me happy and I have no concern about what the others are thinking.

5. I have other things that are more valuable than money, especially on my health. No matter how much I am willing to pay, I just can't buy my health if it has gone. Nowadays, modern lifestyle, busy work schedule & work pressure along with lack of exercise are diminishing our health day by day. If I continue to do so without proper handling, my health will go away sooner or later. By then, no matter how rich I am, doctor will be my best companion and I just loss my chance to enjoy my life and this wonderful world. Regret by then will be just too late. Do what I like to do when I can before it is too late.

6. It is true that I have no active income and my savings is reducing for being a Free Man. I can't see active incoming fund anymore after I quit my full time job. It is also true that my available fund is reducing everyday. I have to plan my existing fund carefully so that the money is flowing (incoming and outgoing) according to my plan. Basically, I am maintaining my current living standard even without active income. I do live frugally. But being frugal doesn't mean that my life is dull. I have what is necessary. I still subscribe optic fiber for fast internet access and internet entertainment while my family has no problem on simultaneous internet access. I still own home theater system so that I could enjoy musics or movies I like whenever I want to. I still keep and maintain two cars for ease of travelling and safe driving. The list goes on ... In short, being frugal is not being stingy but just own what I need at reasonable cost in order to have an enjoyable life after quitting paid job.

7. Pressure is still around even I am a Free Man. As can be seen from all of the above-mentioned, I have to make sure I work according to my plan. It is important to have workable plan to guide me. Without a plan will be just like a kite with a broken string which it will fall down when the wind is weak. To us, our life will be miserable if we spend deliberately without active income and proper control. We still have to control our spending and life according to the plan or else we have to look for paid job again (to work for others, not ourselves) in order to survive. The choice is yours. Of course, to me, this pressure is really a peanut as compared with work pressure which you have suffered and no one appreciate when you have settled the problem while being accused if you failed. At the end of the day, you are paid with poor body condition due to unpleasant pressure.

Above are just my sharing. It doesn't mean that you should quit if you have done this. Quitting or not is your personal decision and you are accountable to it. Plan carefully before you put your quit. Hope you will have your Free Man lifestyle soon. Cheers.