- Hey there thanks for clicking on this video.
If you're watching this right now
there's a chance that you
either might wanna quit your day job,
or you might be in the rough circumstances
where you've been fired or you might've been laid off,
and I've been there before myself.
This video is gonna help you sort out your money,
your priorities, and your future,
if you will find yourself leaving your nine to five jobs
for any reason, and this is gonna be my honest no BS advice
that I wish somebody had given to me.
The first thing you wanna do is make a plan
to quit your job or for if you are forced to leave your job,
because on long enough timeline,
this is probably gonna happen.
One of the first things you should do in making that plan
for exiting your job, is to look at what happens
to your health care coverage.
You need to know what's gonna happen
to your healthcare insurance,
you need to have a plan for that.
Now if you're under the age of 30 and in good health,
you might actually qualify for catastrophic coverage plan.
You wanna do your research, you wanna look into this,
but other than that, you really wanna just see
what happens at least the next 30 to 90 days,
when you leave your job, and what happens to those benefits.
The next thing you're gonna wanna do
when you're leaving your nine to five job,
is you wanna immediately be able to replace that income
so the thing is I wouldn't wait until you quit,
or until you're fired to start replacing that income
so you're not reduced down to a zero income,
you wanna be able to start making money right away.
Hint, don't think that you're gonna start a YouTube channel
or start a business and make money right away,
it usually is not something that makes money
in the first 90 days,
many people do it at a loss for years.
So let's think of a real plan for you
to immediately start making money before you
even leave your day job.
What you're gonna wanna do is you're gonna wanna start
with freelancing, just like I did,
or with gig work with one of these apps,
you're gonna wanna go ahead and start making
as much spare money as you can every single day,
so that you can have money saved,
so you can pay down debt, or you can then deal with some
of the immediate stresses in your life,
knowing that you have another source of income,
so if anything happens
to that quote and quote good steady paying job
that everyone talks about, if something were
to happen to that, you wanna know that you're not reduced
to nothing and that you have the ability
to take care of some of your immediate needs.
Now if you become a freelancer,
you may be able as a freelancer or a gig worker
to join a freelancer's union.
Now, granted there is a lot of things going on,
so you do your research this may have changed
in terms of your ability to qualify for that,
but this might be another way for you
to get healthcare coverage, if you're gonna be
on your own independent for any period of time.
Now before you quit your job,
make sure that you're getting everything you can out
of your job,
or even before you might be let go or fired or laid off,
if you have a heads up about that,
or if you suspect that something that could happen,
you wanna get every single one of the benefits
that your job offers,
so this might include certifications,
they may offer some assistance with going back to school
or getting training,
don't put these things off,
go ahead and give up your spare time and do the extra work,
get the certifications, or any of the training,
or assistance they offer,
maybe they offer some vocational training
or community college classes for you to be able to do,
go ahead and make sure you're doing that.
If they offer any other type of incentives,
make sure to gain full advantage of those
while you still have the job.
If they offer any kind of industry three certifications
that would be transferable or applied to something else,
make sure you're getting that.
Speaking of benefits, you'll also wanna look
into your 401k if that's something
that you've been investing in,
and hopefully you have, and something hopefully
that your employer offers and matches on,
you wanna know what would happen
to the money that's been put into your 401k,
if you should leave the job or if you're terminated.
So before you quit or should you be fired you need
to know what happens to that money that's been set aside
for your retirement, I would also look into before you quit,
setting up your own solo 401k, you wanna obviously talk
to a financial advisor or a CPA,
possibly you might actually have this free for your bank,
you may be able to talk to a financial advisor
through your bank at no cost,
so this is something that you'll wanna research
and look into.
Before you leave your job you wanna make sure
that you're getting as many references
and recommendations as you can, and ideally you'll want
to get some of these on your LinkedIn profile
and you want to start tuning that up,
I have a video that you can watch
and I'll link an info card in the description down below,
if you actually want to optimize your LinkedIn profile,
and kind of put yourself out
there build your personal brand, it's your resume fine-tune,
this is gonna be important in terms of looking
for new opportunities,
you might be leaving your nine to five job to go
and to start a better career or a different career,
move to a competitor or to a better overall position.
And even if you're looking
to start your own business venture,
it's actually really good when people look you up
when they Google Search you,
and this might help you with prospecting clients just to see
that you're reliable and that you have referrals
and recommendations from other people
in your previous career.
So don't overlook this, it's very important to make sure
that you're doing this.
And if at all possible when you leave your job,
try not to burn bridges if it's at all possible,
and we've in the most professional
and dignified manner that you can,
this is not always an option for people,
heck it wasn't even always an option for me,
sometimes you have what makes call,
irreconcilable differences,
so just be as professional as you can,
be as cordial as you can,
even if other people involved are being unprofessional,
then don't let that dictate your standards
or your reputation.
You never want to be in a position where you can't look back
at your previous career with some pride,
and also where you don't have anyone you can turn
to for a reference to your work and to your character,
so this is something you wanna keep in mind.
Now here's a little bit of tough love,
and this is why it's called No BS Advice,
don't assume that you're going
to leave your nine to five job,
and that you're all of a sudden gonna be a good entrepreneur
or that you're gonna be able to do something
on your own like start a YouTube channel,
and be wildly successful.
This is something that is extremely difficult
and you already have the mindset of an employee,
it takes a long time to develop the mindset
of a self-directed self-discipline entrepreneur.
When you leave your nine to five job,
you need to do things like stay on a schedule,
just like if you were still at work and you have
to be consistent,
and too often people leave their nine to five job
and immediately form bad habits.
So you need to stay discipline and you need to go ahead
and hold yourself accountable.
But if you are gonna become an entrepreneur,
you need to realize that it's gonna take discipline,
consistency, and patience,
and that there's a very good chance
that you're not gonna be able to replace that income,
in 30, 60 or 90 days through an entrepreneurial venture,
that's being impatient and wanting
to just like have absolute freedom,
in a way that you haven't been prepared for.
What I would recommend is looking at this as an opportunity,
to hit the reset button.
There's a chance that your previous job,
you weren't in a position where you had a lot of experience
or leverage to negotiate, a fair or a good salary
to begin with.
This may be an opportunity to move up in the world
and get another job in your industry,
but at a better salary now that you have experienced,
and now that you've worked for somebody else
and you have references.
So this is a new opportunity to move up
and to take your time,
and maybe you might be in a better position
to become an entrepreneur while you're doing this,
because now you have a little bit more breathing room,
if you're making more money.
The other thing I recommend is like I said
before you even quit have a side hustle,
if you're making good money from your side hustle,
and it's getting close to the point
where it replace your income,
I would take a nine to five job instead of going all
in on your side hustle or your side business,
if it's actually a business, I would say,
make sure that you have some kind of stable steady income,
make sure that you're doing gig work
whenever you don't have the ability
for your main side hustle
to you know be lucrative sometimes you'll have a bad week,
a bad month, there won't be clients,
or there won't be money coming in,
you wanna make sure that you always have some kind
of cash flow because having anxiety
about money is just gonna cripple you emotionally,
and you're not gonna be productive
at anything if that happens.
I know this is probably not what you wanna hear,
especially if you're quitting your nine to five job,
you don't wanna hear get a part-time job
or get another job that you like a little bit better,
you'd love to probably be an entrepreneur,
but it's very hard to do,
and you should take it one step at a time
and you should be preparing a long the way,
and you do that in my opinion,
by diversifying your income first
and building entrepreneurial habits,
because it's hard to break the habits of being an employee.
Now the way that you're gonna start
to build toward potentially being an entrepreneur,
is you're gonna need to focus on your personal
and professional development.
Now there are gonna be people that say
that giving up your hobbies and your leisure
to work all the time and to do side hustles and gig work
and to pursue your business and not do anything else
in your free time, giving up Netflix, giving up video games,
giving up hanging out with friends,
there are people who say that that's part
of the toxic hustle culture,
but you'll also find that a lot
of those people probably never legitimately struggled
because if they did they would know
that not everyone has the luxury and the privilege
of work-life balance,
when they're in a difficult financial situation,
or when they're trying to dig themselves out of a hole,
ultimately what I tend to believe and what was true for me
when I was at my worst in the last recession,
is that a season of hustle is better
than a lifetime of hardship.
I want you to repeat that after me,
a season of hustle, beats a lifetime of hardship.
Working hard now, reaping the benefits later
and knowing that it was worth it,
am not saying it's gonna be easy,
am saying it's gonna be worth it.
That is important because at the end of the day,
you have a lot of people that think that they can have
it all at once, and you can't, that's arrogant.
You have to be willing to make sacrifices,
but it's your responsibility to make sure
that your sacrifices are worth it,
and that you're not making them unnecessarily and in vain.
And that's why having a plan for everything is
so very important and needs to be a practical plan
that is based in reality and something attainable,
not get-rich-quick schemes and not, you know, delusions
of grandeur, it needs to be something
that is very practical, and very fiscally conservative.
What I would recommend is in your free time,
when you want to do something that's not work,
that it should still benefit you in the longterm.
I recommend having a robust fitness routine
so that you can build your stamina and strength,
building a better body is gonna be beneficial
to you no matter what happens in life,
and being able to take care of your body
and preserve your health, and your youth and your strength
for as long as possible should be one
of your number one priorities anyway.
And when you're not doing that,
because you could only do so much of that, and maintain,
I recommend reading books that are helpful,
even reading books for leisure is fine
they'll always have to be business
or personal development books
and a few recommendations here,
I'll link those down below for you as well.
You can also get a free trial of audible
and get two free audio books.
But I think that reading in your spare time is going
to help you with, you know, taking your mind off of things.
It's also going to give you ideas and keep you motivated,
and it's also gonna help you develop more discipline
in terms of your mind and eliminating distractions,
and just being able to focus a lot better.
If you can do things like watching Netflix
or play video games, you're giving your body cheap dopamine.
You're making it easy to get distracted
and harder to focus over a period of time,
those things are fun and I like to do them,
but when I was struggling financially,
I knew that they couldn't be a priority,
and I knew that they weren't going to help me long term,
they were just gonna make me feel better and comforted
in the short term at time at the expense
of working toward my future.
One of the most important things you can do,
when you quit your nine to five job,
or if you're just in any financially difficult situation,
is to figure out exactly how much money you need
and start tracking your expenses.
I recommend using the Mint app, it's totally free,
go to mint.com.
You could also use Truebill,
you'd be surprised sometimes how many little expenses
or subscriptions you have,
and so being able to track those,
cancel things, negotiate reduced rates,
those things can actually help you,
and also I recommend making a direct plan to start saving,
saving money as something that's gonna be very important,
especially before you quit your job
so that you have some breathing room,
and so that you have a little bit of runway
to figure things out,
you know, most Americans 60%
of Americans don't have $1,000 in savings,
you could beat that number by just saving as little
as $3 a day, 365 days a year
it adds up to over $1,000.
If you get to a point when your side hustles
where you put some of that money away,
if you could put away $30 every single day
from a side hustle, even when you have a nine to five job,
you would be in a position to save $10,000 in a year.
And for many of you that can be life-changing,
that could help you begin to get towards the down payment
on a house, it could help you get out of debt,
it could help you have
that emergency funding you really need,
or it can help you address some of the issues
in your current lifestyle
that are leaving you just feeling completely deprived.
So I really think that saving money
and earning more money are two
of the biggest priorities you can do,
and I don't think you should wait until you quit your job,
and I don't think you should wait until you're fired,
I think you should do it right now.
If you're already having financial hardship,
research resources that might be available to you,
be surprised, go to your local small business center,
go to your local community college
and see what they're offering,
there might be free vocation training available.
There might be free grant programs available.
There might be free assistance for people that qualify
into just certain situations.
You'd be surprised how much is there for you
in your own local community, if you just go
and do the research,
and if you just are someone who has the humility
to ask for help when they really need it,
and not let it get to a point where you're
in a desperate situation,
and I wish that when I was going
through the most difficult times in my life
that had more humility and just asked for help
and taken advantage of resources that were
there for me, instead of bullheaded retrying to think
that I could do everything myself.
Relying on one source of income,
will become a constant point of anxiety.
I want you to not wait until you quit or until you're fired.
Start the beginnings of building multiple streams of income
by starting a side hustle or doing gig work,
look into ways that you can take advantage of your time
and then start learning to build things.
You don't always have to work for a living,
you could build for a living.
You could build things that create value,
and that pay more than one time.
And this is something I talk about frequently
on the channel when I talk about automated income,
where a lot of people refer to as passive income,
I know people think it's a buzzword,
I like automated income 'cause I think
it's more accurate and more honest
in what we're talking about,
we're talking about building things where people put money
in and get the value they want out
and you've automated a transaction
so you don't have to keep doing active work,
once you've set this up by creating the value,
this to mean anything from designs, templates,
t-shirts even doing something like a YouTube channel.
I talk about this all the time,
am gonna link to a playlist here
and in the description down below.
If you wanna see a video
on how I diversify my multiple streams of income,
am also gonna link to that for you because I think
it might inspire you and give you a few ideas
of what is possible.
Thank you so much for taking the time to watch this video,
if you found it helpful at all if you really enjoyed
this No BS Advice, I need a huge favor from you,
I think that this video would help so many more people,
If it is the number one ranked video
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So if you guys could help me out and share
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leave a helpful comment,
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because I think this is probably some of the best,
No BS Advice that anybody is gonna get on this topic,
and that's very realistic, so if you think that that's true,
I really just appreciate the help,
like this video if you liked it,
don't forget to subscribe,
check out the other awesome stuff
on the channel,
as always you guys thanks so much
for watching and don't forget.
Go out there and create something awesome today.
Take care.