I Don’t Want to Work Anymore But I Need the Money: How?
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What are the highest-paying professions in the world? Which companies pay their employees well? I remember I used to search for these all the time when I was young. I never thought that I’d grow to witness some people who receive a big chunk of money and still quit their jobs.
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Because I thought after all, once the money is huge you’re good to go. Most of the time, we let the salary we are going to receive blind us and later enslave us till the time we turn 65. I mean retirement! The scripted age for us to stop working.
We throw our dreams out of the window and comply with the norm, even if it’s what we dread. Don’t get me wrong, some people are super happy with their work – that they become sad when the weekend approaches. They jump out of their beds once Monday morning arrives to go to work! If you’re one of those people, then I’m pumped for you.
However, for someone who dreads Monday through Friday’s work-life, and wants to quit but cannot do so because there wouldn’t be any paycheck coming in once you kiss your boss goodbye – this article is for you because you’d know how to quit your work and still make money.
Why You Don’t Want To Work Anymore
You’re not the only one who doesn’t want to work anymore! The global pandemic(Covid-19) literally showed people how possible it was to stay home and work, as well as the joy of spending time with your loved ones(significant other, children, etc). The graph, according to Statista shows that 4.53 million Americans had left their jobs as of November 2021.
So the question is, why would so many people kiss their bosses goodbye? And in your case, why you also don’t want to work anymore?
1. You can’t cope with the workload.
It may have happened that your counterpart or colleague at your workplace left his or her job or was fired and your boss has assigned you to take charge of all those tasks in the meantime – until a new worker comes to save you. Even if it’s nothing related to a colleague quitting, generally, to see the company grow exponentially, employers are ever ready to give workers many tasks – rather than hiring new workers to take those tasks.
According to a study, 60% of workers said pressure at the workplace had increased in the past five years. Being unable to have a work-life balance would be one critical reason for not wanting to work anymore.
2. You don’t feel valued.
No matter the effort you put in your work at a company, it may be hard to be noticed by your manager. Managers or employers feel that you’re replaceable and wouldn’t raise your salary no matter how hard you work! Walking away would be better than being at a place where you’re not valued.
3. Your love for the work is gone.
When your love for your work is completely gone, every workday feels like forever. Working at a job you no longer enjoy just because of the paycheck isn’t something you want to do for the rest of your life.
If you walk away, the paycheck would cease but you may find that thing that fulfills you. Happiness over paycheck!
4. The entrepreneurship journey.
Creating something for yourself to help society can be very satisfying. Rather than working 12 hours to make your boss rich, you can use that same 12 hours to build something for yourself. Although this path is less traveled because of how bumpy the road is, those who persist always win big! Finally deciding to choose entrepreneurship may be a reason for you not wanting to work anymore.
Ways To Quit Your Work And Still Make Money
Listen to me, you cannot just wake up one day and say “I’m quitting!” without making any plans for your life. Quitting your work means you’re not going to see a monthly paycheck again – that can be scary as well as catastrophic if you’ve got a mortgage, car, family, and other expenses to cover.
If you’re in a first-world country, you might get unemployment support from the government but for how long could you depend on the government? That won’t work out! You can’t live the life you want off of that money.
The only way to quit your work and never panic is by securing your financial situation through passive income. There are three types of income: earned income; which you get from exchanging time for money( a 9-5 is one), portfolio income; which you get mainly through capital gains, and passive income. Passive income is money you earn while you sleep – that’s, assets that bring in money every day, every month, forever(Cash flow).
Suggested Post: 30 Legit High Paying Apps To Make Money.
Invest in Real Estate and Dividend Stocks
Real estate and dividend stocks are investments that would provide continuous returns so you can quit your work forever. Let’s first look at investing in real estate.
The best form of real estate investment to consider for passive income is rental properties. Even though you have to make the right decision when it comes to choosing the perfect property to buy – if you’re able to get your cards right, you could have money coming in every month. Over time, the property’s equity would rise and you can decide to sell it at a higher price.
You can start with a single-family unit or condo – for this kind of property, only a single family would be managed by you. This is to reduce property management stress. Condos or single-family units generate passive income as long as you have a tenant. But if a tenant moves out, the passive income would cease until a new tenant moves in.
Moreover, you can also invest in duplexes and triplexes. These come with a much lower risk compared to the single-family units because you’d have more than one tenant thus, a single tenant moving out wouldn’t kill your passive income.
Other real estate properties to invest in to give you passive income are apartments, commercial buildings, self-storage facilities, and industrial complexes such as warehouses, etc. You can as well consider the Real Estate Investment Trusts(REITs).
Dividend Stocks.
John D. Rockefeller Sr. who is regarded by many as the richest self-made man in modern history once said, “Do you know the only thing that gives me pleasure? It’s to see my dividends coming in.” The only way to also ensure that dividends hit your bank account nonstop is by investing in ETFs, mutual funds, and companies that pay dividends.
Dividend stock companies are those that share profit with their shareholders by paying them dividends. Investing in dividend stocks would mean receiving dividends every quarter – this would help you quit your work and still make money. But you have to know that one has to invest enough money into a dividend-paying company in order to receive good dividends.
Some companies that are known for paying high dividends are Chevron, Verizon, Coca-Cola, Intel, Gaming and Leisure Properties Inc, ONEOK Inc, and others.
Start a Side Hustle
Starting a side hustle is one of the ways to not work anymore and still make money. You can start a youtube channel to talk about things that you enjoy. There’s so much you can make from this online side hustle. Ali Abdaal started his Youtube channel when he was a medical student. His side-hustle business now makes him thousands of dollars and he finally quit practicing medicine.
Other side hustles are starting a blog, selling on eBay, affiliate marketing, freelancing, dropshipping, and many more. To make any business flourish, you have to put in the work – I can’t emphasize this enough. Don’t look at the success stories and think it’s easy; it’s tough to grow a successful side-hustle business. Nonetheless, it has the potential to make you not worry about money again(Financial Freedom)!
Suggested Post: 10 Amazing Reasons You Should an Online Business.
Make Money From Your Gift or Talent
Steve Harvey did explain how his gift or talent – that’s, being able to tell jokes made him millions of dollars. Following your gift or talent can take you to a higher height than where you are now. You just have to figure out how to make money off of that talent of yours.
Do These Things Before You Stop Working
Like I said earlier, you cannot wake up one day and say you’re quitting your work; you won’t survive unless you have other streams of income. Some people even suggest that until the money you’re making from other income streams exceeds that of your normal job, don’t quit.
So what are the things to do ahead of time to make it possible to quit your work?
1. Plan your exit
Since you need money to survive when you quit your work, plan the various ways to make money passive. You may want to start your own business – blogging, domain reselling, freelancing on Upwork and Fiverr, selling on Amazon, Etsy and Shopify, podcasting, dropshipping, etc, are some online side hustles that pay well.
The good news is that all these skills can be learned online. Spend at least 3 hours every night learning a skill to help you succeed with your side hustle. Don’t work 9-5 at your job and be reluctant to learn a skill that could give you freedom.
You can also start learning about investing in stocks, real estate, mutual funds, etc.
2. Embrace frugality
You don’t want to work anymore and still make money, so this is not the time to keep up with the Joneses. Freedom is what you want and not owning expensive items that deteriorate within a few years.
Live below your means for now, cut all unnecessary expenses – eat at home, use public transport, clip coupons, don’t live in an apartment that stretches you, and many more. And above all, save money like crazy with the help of Rocket Money.
3. Set a deadline
Set a date that you shall quit your work completely. Saying that you’ll quit without any specific date puts no mandate on you to push for freedom. I suggest that you set a reasonable and achievable deadline to finally say bye to your work.
You can play with this FIRE(Financial Independence Retire Early) calculator to know how much you need to retire early.
4. Work, work, work
“Your biggest advantage is that you’re hungrier than your competitor.” Gary Vaynerchuk talks about the importance of working hard. The only way to be able to quit your work and not worry about money is to work hard.
Before that glorious event of ‘saying goodbye to your boss’ happens, you have to work hard to build something for yourself. If you think you can retire early without prior hard work then you trippin – forget about that dream.
Final Words
Is it even normal to not want to work anymore? I would say not wanting to work is a normal feeling. Humans are wired to spend time where we find peace, so if a workplace feels like a modernized prison, it is normal to react by finding peace and freedom elsewhere. Maybe it’s not working you actually want to quit, but rather you want to quit working for your current boss or company. In this case, then look for a new job.
However, you’re writing your life story and you only know how you want the story to end. Decide how you want your life to look like – if you want freedom and be able to create something for yourself, something that leaves a mark in the history of entrepreneurship; you can quit your job and start working on that.
But if you’re happy being a high school teacher, a lawyer, a pilot, or whichever career you have now, then don’t quit, because there’s no freedom than doing what you enjoy. All the same, I hope that you live a fulfilling life – a life free of regrets. Wishing you more dollars and freedom!
Manuelo is an entrepreneur and a personal finance nerd. He is the founder of Dollars And Freedom. An expert in side hustles, online gigs, and everything about making money. His works have been featured on major financial publications, like Business Insider, GoBankingRates, Investopedia, Entrepreneur, and more. When he’s not busy with his blog or writing for others, you’ll catch him hanging out with loved ones or reading books on stoicism and self-development.
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