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Calling it quits

July 8, 2007

Two people I know recently up and quit their jobs. They weren’t moving to another employer (although one of them has since found a new position).

shove_job_PaycheckWhen they gave their notice, they had just decided that 9-to-5 at their workplaces was no longer for them.

As someone who did the very same thing just over two years ago, I say "Good for you and welcome to the club!"

It’s a hard step to take. But sometimes it’s the only one.

I’m still hearing from folks about the departures. In cases like these, the coworkers left behind tend to be shocked. And a bit skeptical of the former colleague’s sanity. And a bit introspective. And, yes, a little scared.

No one likes change, even, or maybe especially, those who don’t initiate it.

Most of us gripe about our jobs and our bosses, but when someone actually packs it in, especially when they don’t have some other paying gig lined up, you do a double take and think, "Wow! Maybe I need to re-assess my situation."

Constructive quitting: Tory Johnson, CEO of Women for Hire, shared her quitting do’s and don’ts on Good Morning America. "Quitting can be productive sometimes," said Johnson, "so long as you know when to do it."

Her column and accompanying video provide advice on determining whether it’s time to call it quits and when you might want to stick it out.

Trent at The Simple Dollar has a good post on the "I can’t quit" syndrome. You know it. You’ve probably had it. You feel trapped in a hated job because of the salary and/or benefits.

But, as Trent notes, there are more costs to consider than purely financial. Studies repeatedly show that job stress is detrimental to quality of life and also to health.

See, keeping that job just to get medical coverage means you’ll likely be needing it so you can regularly see an internist for your ulcer as well as a psychiatrist to cope with the stress.

Taking a leap at another job may cost you a few paycheck bucks, but you’ll be in better shape to spend what you do have!

The Wall Street Journal‘s Perri Capell also offers thoughts on what to tell prospective employers if you suddenly leave a job you hate. The explanation to future bosses is not as hard as you might think.

But what if being free just isn’t what you thought it would be? Is that old, detested job starting to look not so bad now?

Dale Dauten, Corporate Curmudgeon at Boston Works, urges employers to keep an open mind about "boomeranging" employees, going as far as to suggest the companies urge workers who are on their way out to return if they don’t find what they are looking for. It’s advice that could be beneficial to both sides.

4-hour-workweek_bookOr maybe you just need to adjust your approach to work, using some of the suggestions in Timothy Ferriss’ book, "The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich."

Ricemutt over at Experiments in Finance has generally good things to say about Ferriss’ advice. which includes, in part, "… not wallowing in self pity if you dislike your job and doing something about it. Attitude changes include questioning assumptions we’ve all grown accustomed to by working in corporate America … ."

You can read Ricemutt’s full review here.

And remember, if you find that you do want to look
for another job, the expenses of finding new work might be tax
deductible. Details here.

Laugh, cry or quit: You think your office is out of control? Compare it to the Top 10 Examples of Workplace Wackiness
in 2006. They range from ice rink employees who "borrowed" the Zamboni
to make a burger run to salesman who faked a family tragedy to get time
off to a lawman who shot himself in the foot.

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TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill. 

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year. 

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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