How To Quit Your Job With Passive Income

Finding your next career is an exciting process that can be done at any stage in life. Starting from no money, and with lots of uncertainty, you must have been through this before!

Quitting your job and pursuing your dreams is not easy, but it’s totally doable if you are willing to put in the work.

Most people never truly fulfill their potential because they don’t try hard enough or they don’t take risks. By staying in jobs that pay well, you are limiting yourself.

If you feel like you’re not making progress then it’s time to get out. You deserve better than this. You’ve worked hard, so why should you limit yourself?

There are many ways to make extra money while quitting your current job. These are usually categorized as part-time ventures or online businesses. Both are great alternatives to working for someone else.

With these strategies, you will need to invest some time up front, but you won’t need to worry about finding another position immediately.

Break down your job into tasks that you can do remotely

how to quit your job with passive income

In fact, with the right tools, you can even create your own digital business or freelance career through online services and platforms. There are plenty of ways to make money online via creative marketing strategies or by offering your skills as a freelancer.

Freelancing is one of the top income sources for many professionals these days. By and large, most successful freelancers have a few things in common: they’re able to generate good quality work, they're familiar with the internet as a tool to market their services, and they're persistent when it comes to finding new clients.

Find a replacement job

how to quit your job with passive income

The next step is finding a new job that pays well so you can easily live off of your savings. This will require looking into different careers, industries, and positions.

Finding a new position requires going beyond just your community and search engine exposure. You have to actually reach out to employers and recruiters in order to find the right fit.

By actively seeking employment opportunities, you’ll not only be investing in yourself, but in the future career of someone else.

Transfer your job to a colleague

how to quit your job with passive income

A few years ago, if you were thinking of quitting your job, it was probably harder to do so. Companies actively recruit employees every day, making it even more difficult to find someone else to take your place.

But today’s employers are not as stable as they once were. There have been significant developments in workplace technology that make our jobs easier to outsource or automate.

And with over one third of workers under the age of 25 now being employed part-time, companies don’t need to invest as much in their workforce.

This has left many people without the career ladder up which they want to climb. We’ve seen a rise in individuals walking away from their positions for no reason other than lack of motivation.

Tell your boss

how to quit your job with passive income

A lot of employers do not realize how valuable their employees are. If you have a job that gives you good pay, then go ahead and keep it! But at the very least, tell your employer yourself why quitting is a better option than keeping this position.

Be honest but no need to exaggerate or make things seem much worse than they actually are - just be fact-based and clear. Refute any false assumptions his company may have about you being unable to find another position easily.

Explain how you have researched your top opportunities and determined that there aren’t many great ones for you here, so it makes sense to look outside of this organization.

Give an estimate as to when you will be able to move forward with your plan and give them a few days to get used to you leaving. Then, stick to your timetable and don’t let anyone stop you until you have moved onto more promising possibilities.

If needed, work during off hours or early in the morning or late in the evening to avoid too much scrutiny. Keep track of how you feel each day you spend at work and whether these feelings are related to your future plans.

If necessary, see if you can lower your responsibilities so you are less stressed out and therefore happier.

Get your personal affairs in order

how to quit your job with passive income

It’s increasingly difficult to quit your job completely, even if you are earning enough money to live on. This is especially true if you have dependents or debts that need paying.

If you feel like you can’t afford to pay off all of your commitments right now, there is an easy way to reduce your spending temporarily.

You can tell yourself that this isn’t a permanent situation, so you don’t deserve to spend as much as you were before on things such as food, rent and utilities. You also don’t deserve to drink alcohol or use illegal drugs, since doing either of these costs money.

By sticking to these restrictions while you are still employed, it will be easier to do them once you reach financial independence.

Prepare your family for your new business venture

If you are thinking of quitting your job, make sure that your family is prepared for your departure. This means telling close friends and family members so they can begin preparations as well.

Tell them when you will be leaving, what time you will leave, and where you will go after. They should know your plan fully and if there are any changes, they should be informed.

This way, people do not have to worry about you or ask questions later. For example, most employers offer an employee benefit program such as health insurance or retirement accounts.

Start a business with a partner

how to quit your job with passive income

Starting your own business is a great way to achieve your career and financial goals. Plus, it’s a lot less stressful than working for someone else!

Business partners are individuals who contribute money or resources towards the running of a company that you already have ownership in. This partnership can be formal (each owning a stake in the company) or informal (one person brings in their friend as an investor).

In either case, this investor will likely expect to receive return on investment via an increase in salary or additional benefits like health insurance. It’s up to you if these things make sense to you and your partner but, most importantly, you need to trust each other!

Given enough time, a business owner would do just about anything for their company so there’s no reason to think your colleagues wouldn’t feel the same way. Finding people that you both agree on is a good start to investing together.

Start a business with a franchise

how to quit your job with passive income

Starting your own business can be expensive! There are fees for opening a business location, buying supplies, hiring employees, and more. Many entrepreneurs begin their search by looking into franchises as a way to launch their business. A franchising company offers the chance to start an income-producing business in its system, which it covers of cost.

The franchisor then receives a portion of the profits from the business you choose to join under their brand name. This is how most big businesses get started — there’s a well-known company that people trust so they offer service X produced by companies that belong to us.

There are many types of franchises available, such as health food stores or restaurants. By joining this system, you get the source code free and total guidance on running your business.

This is not only helpful for beginners, but also experienced business owners who want to make changes to stay competitive.

About The Author

Tiara Ogabang
Tiara Joan Ogabang is a talented content writer and marketing expert, currently working for the innovative company With a passion for writing and a keen eye for detail, Tiara has quickly become an integral part of the team, helping to drive engagement and build brand awareness through her creative and engaging content.
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