Quit Your Job Without Going Broke | Financial Planning To Quit Your Job

Hey there! In this video, I walk you through how to financially prepare for a long break from work. We'll cover important steps like assessing your financial situation, figuring out how long of a break you need, and planning your finances. So you take a well-deserved break from work without any financial stress.
I'm not a financial advisor!
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► Timestamps
0:00 - Intro
01:04 - Asses Your Financial Situation
01:55 - Alternatives to Quitting: Considerations Before Taking a Sabbatical
02:23 - How Long of a Break You Need
02:39 - Financial Planning for Your Sabbatical
03:57 - Healthcare
07:11 - Where to Keep Your Savings During Your Sabbatical
08:26 - Working Backward to Get Your Target Quit Date
12:00 - Q&A
12:07 - Is there anything you'd do differently to prevent burnout?
13:04 - Did you have to pay back the sign on bonus?
13:38 - How are you doing mentally after quitting?
14:02 - Home much were you earning?
14:32 - Will you keep living in NYC/Jersey City?
14:53 - How will employers react to a gap year?
15:30 - What gave you the sense of safety to quit your job?
15:58- Do you have any regrets?
17:17 - What the perks at Google?
17:42 - Will we get more KZbin content during your sabbatical?
BUSINESS INQUIRIES
[e-mail]

[@Bukola1]

Welcome back! I’m not a financial advisor but this is the planning I did for my sabbatical! There is Q&A at the end :)

[@abdl4966]

Where are you living Bukola NY or NJ?

[@kimayaknight7180]

Thanks for sharing this great inspo sis! I quit my my job as an RN last two years ago after almost 17 years in the field. It was not an easy decision, but life is too short to dread going to work everyday. No amount of money can buy real happiness, but friends I'm not asking you to resign from your job or abandon your business but be wise!

[@eiraantoinette6793]

I don't really like my job but I love what it provides for me and my family. This pandemic has people rethinking working

[@labeebasonia3781]

What do you do now ma'am and how did you do plan yourself before quitting

[@kimayaknight7180]

@@labeebasonia3781 right now I run my own business and While I was still in service I planned towards early retirement, making about 2k weekly from my retirement investment portfolio trying so much to build more side hustles and extra income

[@labeebasonia3781]

Wow impressive you're making quite a fortune speaking of investing I have heard about this but I don't really know how to start can you explain?

[@kimayaknight7180]

There's a lot of investing options real estate, cr ypto, ETFS stocks but my best advice get a professional lead you into profitable one that's exactly what I did

[@thecurlyjenny]

as someone who just quit her job as well, welcome to the fun-employment!

[@Bukola1]

Thank you 🎉🎉

[@AndrewHitti]

The blueprint! Research + careful planning + hard work + discipline - good idea to make space to enjoy life and not postpone everything until retirement/ later in life. Inspirational!!

[@Bukola1]

Exactly life is too short 👏🏿👏🏿

[@natsands]

Quitting a job is honestly so brave. I really appreciate the tips, as I think a lot of people feel stuck when a good position is no longer serving them (emotionally, physically, mentally) like it should

[@JessicaHicks]

For the person that asked about the gap in her resume … I’m a recruiter and a 6 month break today isn’t that big of a deal. She’s taking a sabbatical and has great experience and company on her resume which over rules any apprehension about the gap in work. Also seems like she left off in really good terms and has good relationships with her team at Google so it may be an option to go back there if she’d like or gain referral once she’s ready to go back to work. 😊

[@sexygeek8996]

If a company has a problem with you taking several months off between jobs then you probably won't want to work there anyway.

[@keithwisdom1663]

You. Can just do consulting or do a small business. With a few clients to fill gap

[@vulpixelful]

Congratulations! You're better then me, when I ever take a sabbatical I'm going to forget about code and tech completely, screw recruiters 😊 In the US, we're so brainwashed, people in other countries don't feel the need to make our work breaks "productive", when we even get work breaks 😅

[@HeyMsVal]

I'm a nurse of 29 years. I wanted to take a break also. But of course I need healthcare insurance which is tied to my employer. I decided to change my status to PRN. So now I make my own schedule and work one to two days per week. I was able to keep my coverage at the same cost (not COBRA) because of the number of hours I worked in the previous year. I do pay dental and vision through COBRA. I have a rental home that is paid for. It covers my current mortgage minus $150. I just started renting a room in my home to a travel nurse. So that income covers that $150 plus utilities, groceries and miscellaneous expenses. So when I do work, it just goes to savings. The one drawback is that my contribution to my retirement account has decreased significantly. SN: I do have an emergency fund.

[@Jmf92]

Here’s a tip on health insurance from someone who works in healthcare. Having health insurance is more expensive than not having it. When you get a bill or when you go to the doctor and you tell them you’re uninsured, guess what they do? They just write it off. Thats it.

[@wilson8979]

Exactly and paying cash out of pocket is not hard as long as you don’t have a bad health issue

[@gavip24]

@@wilson8979why are there people with 100k of medical debt then?

[@TheAlexis123987]

I am sooo exicted for you!!! I took an 8 months break. Learnt to code in Swift and travelled to Ghana and Nigerian and other places too. Accra is more friendly to solo travellers than lagos. In December it is so much more fun if you know people there who are plugged in to the social/ arts scene. Accra is very easy to navigate and there is a huge diaspora party scene in December. I did Nigeria and Ghana solo. And what helped was finding local travel groups on instagram, so that I could explore more remote places. I went hiking, camping and chased so many waterfalls.

[@nayalaa]

Honestly, as someone who's jealous because my circumstances make this impossible, I'm so happy for you! You've been through a lot and you've also worked your butt off to get where you are - you deserve a break! I'm excited for the content and watching you live your life amazingly! Lots of love!!!

[@hiimabot8937]

I can't believe that you have haters. You're the perfect combination of ultra-successful and down-to-earth, which amazing and very hard to find.

[@rah7207]

Theyre just jealous of her femininity

[@christopherreed3019]

i wouldnt say ULTRA successful...because she still has so much potential and she is just at the beginning of her career..She has less that 6 years experience...so she is still kinda early in her career....Her potential is HUGE though

[@amouzout]

Love this video! Financial planning is so important and these past 3 years has shown us the importance of that more than ever. I wish I had planned well, kept my expenses low and had an emergency fund for more than 6 months because you’re right in this job market it can take you past 6 months to find something. After my layoff it took me almost 11 months to find employment again- & keep in mind I was doing everything right during those months - networking, started a side hustle, reading and learning new skills but there has been hiring freezes for so long. So you’re right to plan for more than 6 months!!

[@1anre]

Where did you finally land? Same role or you had to take a hit and take a lower role to get back into the saddle?

[@Bukola1]

Wow this is eye opening, thanks for sharing!

[@amouzout]

@@1anre Still in digital marketing- not the same role. I was doing demand generation in my previous agency now I'm doing Paid Social. Paid Social was where I wanted to go next. So I stuck to the plan. Funny enough I have a slight increase in my salary.

[@1anre]

@@amouzout impressive!

[@tessy28]

​@@destinyschild5768 omg yess!!! The interview process is crazy these days. Some of these silly companies are asking you to write 1200 word essays or literally do massive tasks before you even pass through to round 2 it's crazy.

[@kayp9318]

I can’t understand haters in your videos for the life of me. I think you’re super inspiring and your voice so soothing 😊

[@janek3399]

Yes!!! so excited to watch this video. You are living my dream. I am hoping to quit my job and take a one-year sabbatical in about 4 years. I'm already planning out what I am going to do on my sabbatical 😊

[@rah7207]

4 years will likely change your sabbatical interests. 4 years ago, I was super interested in exploring everywhere. Now I prefer visiting only black-friendly places around the world…. So not places like Spain, Russia, certain US States (Montana, South/North Dakota, other LOW diverse areas), etc.

[@SmbSmb-tm8om]

Natural beauty and brains … super proud of this young lady .. Keep your head high and mind above the non sense ..

[@naodgebregiorgis5940]

Very inspiring

[@Lola-lk4ig]

As someone who is going on almost a year of being on a sabbatical, I totally recommend it if you can do it. Now I feel great & rested to return to work.

[@Bukola1]

That’s really good to hear! What did you do during your sabbatical?

[@Lola-lk4ig]

@@Bukola1 I got to travel to my mom’s home country twice (never been prior) & also to several states in the US, went back to school to work towards my degree, and recently started a self-paced tech program to learn front-end development. I plan on going back to school full-time & working part-time until I find the right position for me. The sabbatical has changed my mindset on the idea of work & what I want to do with my time & life. The only thing I recommend is to not take it too easy because the time goes by extremely fast. 😆😏😊

[@Nykster]

Totally unrelated but I made the garlic shrimp pasta you made in one of your previous episodes, so delicious, thanks for sharing!

[@gm-vf2zz]

Súper exited for the next part of your journey!!!! 😊

[@noah_am_i]

Great video ⭐️

[@kalenesantana]

this is great content 🙌🏽

[@AcesizOfficial]

Congrats 👏🏽 & best of luck going forward 🍀

[@samniecoleman1311]

Thanks so much for this 🙌🏾🙌🏾 I hope you enjoy your time off

[@dynamicdivinereadings6520]

Great video ❤ thank you for this helpful information

[@VamboraSingapore]

Very prudent planning 👍

[@azemohdavipaul6804]

Go girl, live your best life 🎉

[@JoyfulOne468]

This is an excellent video! Thank you for sharing.

[@yourfriendintech]

Thank you for sharing this!! Glad to hear you're doing well

[@Bukola1]

Thank you too!

[@tracy_ragland]

Love this! I’m so excited for you! I can’t wait to see your Japan and Amsterdam vlogs 🩷🩵💜💛

[@mollymccarronproduct]

What an informative video Bukola! I’m excited to see what is in store for you these next few months!

[@Bukola1]

Thank you so much!

[@akhazokpia6922]

Bulky,you are an inspiration.I shall grow with you.

[@modoulaminceesay9211]

wow , thanks for this video God bless you. Your vidoes have been very helpful

[@tinamccreary6284]

like the information you provided and it gives a lot to think about when leaving a job.Enjoying the Channel

[@ElishaLoweRN]

Saw one of your first videos some years back and just tuned into this one. Congratulations for choosing you and taking time away. After a recent layoff from a Silicon Valley company I've decided to step away from a 25+ year career. Overall it's been wonderful and I'm proud of all I've accomplished but I'm not interested in working for others anymore. I bring in income from several investment portfolios. I teach others how to do the same and I travel. I just got back from Accra, heading to Portugal soon, and thinking about living in South Africa for a stint. Life is good. All the best to you!

[@naturallycurlymama5344]

You are so smart wow well done 👏👏👏👏👏❤️

[@limitlesskode]

I will definitely be excited to see you when you come to Accra

[@arberismaili9560]

I wish you all the best and do not let anything bring you down okay ypu are doing amazing

[@osharpe8096]

A well thought out plan. Best wishes for your “sabbatical” and beyond👍🏾

[@oluyemiadunoye9735]

Always love your videos ❤❤

[@Bukola1]

Awww thank you I appreciate that!

[@AymanSully]

This video was super interesting, even for someone working in Sweden. Many things aren't the same here, but it's cool to hear about!

[@durojaiyekolade3178]

I love your videos, going to Lagos alone at this time might be an extreme sport. However, you're going to be just fine with family.

[@brooklynforever1990]

I knew my girl would have a plan in place best of luck on this new venture.

[@sifukimo5454]

HEY DUDEST, I WAS SURFING KZbin AND RAN PAST YOUR SITE ON A TALK SHOW. I AM SO IMPRESS WITH YOU HAVING THE COURAGE TO DO WHAT YOU DID WITH YOUR JOB. I AM GOING TO SUBSCRIBE TO YOUR CHANNEL. THE SENIOR

[@user-uq2ug1rr8v]

Thanks a lot

[@Bukola1]

No problem! Thanks for supporting me with a comment 🙌🏿

[@kristiduncan8356]

Thank you for this video. I have been trying to figure out why I am so burned out! This shed some new light on it for me. 😊

[@ajibsbaba]

Very informative Video Bukola

[@Bukola1]

Thank you ❤️❤️❤️

[@DarkPrincessOfLight]

Amazing video. I'm currently a student & intern & very happy this video was recommended to me! I dont rly have any plans to take a break from the workforce (as I havent rly started yet lul) but I'm happy to learn that this is an option. Def gonna subscribe! Very interesting:]

[@jackiedelvalle]

Girrrrrrl congrats. 🎉🎉🎉 Very excited for this next stage in your already very impressive journey. You're so young and so wise, so I'm expecting sensible fun and adventure! I'd add to your planning advice to ensure that all your professional devt is as up to date as it can be before you leave, so that you're immediately attractive to employers whenever you decide to return.

[@_zenprogrammer]

Glad you are doing well, girl!

[@Bukola1]

Awww thank you!

[@mcuenca914]

I love how grounded and methodical you are as a person. So inspirational!!

[@manifest2203]

This video taught me how to go about it if I ever choose to take a short break in my career (6 months/less than a year). Very useful video. Good content ❤

[@WhizQueen]

Go girl! Love this for you. Honestly thanks for sharing this, even though I’ve always known preparing financially is very important I wouldn’t have thought of the extra 6 months buffer. Mental preparation is something I’d love to hear you speak on, what were the kind of fears you had before quitting. I feel like even when I’m financially ready, I’d be too scared to do it. Combining work + content creation is kil ling me and I want out 😢 Hope you have fun in Lagos! I’d love to go by the end of the year too

[@wilson8979]

This lady is highly intelligent. Listen to how she speaks OMG. Go girl. You are beautiful and smart, talented!

[@learningtogetheredu]

i have been contemplating quitting my job since January and i finally did it last week. i even started a youtube channel which i am still growing. looked at all angels but the toxicity at work was too much i just decided to jump and leave and trust God in the journey.

[@fu.gee.tiiiiii]

I hope you have amazing trips! You worked hard saved and this is so well deserved and needed❤

[@Bukola1]

Thank you so much!!

[@tptopfan2685]

me, (just now landing my first corporate job) watching this video and taking notes ✍

[@mayram2942]

X2 😅

[@truthhurtsohwell05]

You are always dropping gems on your channel. Thank you so much. I am trying to not burn myself as an engineer, but I am finding myself wanting to program drones or bots lol Congrats on your sabbatical!!

[@SM-lg3mn]

I really appreciate this video especially the healthcare section. I was about to buckle down and start researching from nothing, but then I found your video😍😍😍😍 thanks!! ❤️❤️💪🏾 we got this 🎉 I'm planning for 3 months

[@susandanielkareem]

Love the new twist in your videos! Fatima's tips are the best 😂

[@lauraashleynl]

I'm going back to school to become a become a software developer and your channel is such an inspiration. Hope I'll get to work remotely one day, or maybe even take a 3 month sabbatical :) Until then, datastructures & algorithms has me crying nightly lol

[@a.c.cassandra1994]

I enjoyed your tips, Im older than you (55) I plan to use your tips and retire early but I plan not to return to work, and do my own thing 😊

[@davidclottey3935]

I'll be waiting for you in Accra

[@Crissy.7554]

Thank you for sharing! This is motivating and I absolutely love seeing young intelligent black women LIVING!!!❤🙌🏾

[@stateofart1089]

Hello Bukola, thanks for your videos. Can you share with me your main Dashboard Notion Template please. Thanks

[@imandriamichele]

Girl I’ll be back in Accra this December!!! Let’s go lol

[@s.m.4198]

I can't people were hateful to you about your life choice. People can really just be so bitter and how does that help them at all? Thanks for the good tips!

[@KB-fe2pg]

I’m planning to take a 6 - 12 months sabbatical next year. Thanks for sharing how you planned for your career break.

[@faithfulalabi1522]

I’m down for Lagos and Accra in December!!

[@adetunjimojolaoluwa362]

Girlll this video came in at the perfect time, about to quit my job as well. Thank you for these details ☺️.

[@Bukola1]

No problem! Hope you have a great funemployment ❤❤

[@ThereseDavidson]

So brave! I’m soon doing the same (i will have 14 months pay during that time) and i will move to cheaper home during that time 👍 great advice in this video

[@akm960]

I love seeing this and that there are people who can do this(I ain’t one but i can dream lol). Those 2 weeks paid vacation time is no enough to deal with burnout.

[@lazarinastoy]

I'm currently going through the same thing, exactly the same. Burnout, need to take a time off, the financial planning. So happy you're talking about this, really appreciate the insights of someone a few steps down the road from where I am. Hope this time off ends up being exactly what you expect it to be! 🥰

[@TheCelmap]

How your planning is going so far? Considering this so bad, but need to pay my debts first, I'm building my emergency fund on the side so hope when complete my debt next year will be fully funded on my savings. I'm very depleted from my job and have lost all the joy of life. Hope be strong until there😢

[@darcipeeps]

There’s some points in the video I didn’t think about like healthcare and timing that

[@RachelSmets]

Hey, fellow KZbinr here, but also I QUIT MY JOB! It feels AMAZING but 100% did I PLAN as well! MONEY is important and I need to support myself so I really needed to calculate and have a buffer. I'm in Europe so there are differences regarding insurances etc... compared to the US. Actually after I quit and started traveling, I made money online, and I made sure to start making money online BEFORE I quit. The ways to make money is what I share in my videos. Then, I sold my home and everything because I wanted full freedom and travel full-time. To be honest, I spend hardly any money now, so the buffer I made, I never touched it. When you travel, you no longer need office clothes or expensive ''stuff''. NO matter what age you are, if you read this and want to quit, you CAN!

[@marthamutale387]

I quit my job last July. I used to live in Canada, its a country with provinces and the province I lived in has really bad wok ethics, racism is rampant, and there is so little support when work situations get really intense. I have been learning more about financial planning since relocating to Zambia with my boyfriend. While he is able to work remotely, I have more of a process to navigate and it's inspiring to discover the different ways to bring in income, learning to balance rest and saying no to things I don't want to do. Thank you for this video.

[@user-dr1ct5uy8c]

How do you like Zambia? It must be a very nice change.

[@kikiriki8742]

I don't think you need to worry about having a 6-month employment gap, especially in your field and if you have good references from Google. When you're ready to go back into the workforce, just make sure you frame your need to take this time off around your lack of grieving time following your relative's passing. This should put a potential employer concerned about your ability to handle stress or a fast paced environment at ease, since a family death is always viewed as a tragic and unexpected event. I wish you the best in your journey - wish I was your age making your salary, lol

[@hopeandvictory2081]

Please also visit Francfort during your time in Germany. I will be glad to meet and/or give you some tipps

[@thefinephi]

Omg i’m going to Accura at the end of the year! I’m thinking about spending a week there and a week in another country. Please let me know if you go!!

[@s.m.4198]

If I can influence your content decisions, lol, may I request more financial tips and techniques, coding, and networking videos? Thanks in advance, Bukola!

[@chandrajong3578]

Hi! Where did you get your top?? It is so cute!

[@Tech4YourNeeds]

I like the idea of working for a certain amount of time and then having the rest of the day free.

[@westernpigeon]

just saw you on casey neistat's new video!!!! congrats on the marriage haha!!!

[@Boring_Deborah]

I used to work on STD and LTD and it’s really hard to get disability. Most contracts state you have to be disabled. Also, you have to be treating with a provider. Being tired does not make you disabled. Getting state disability in states like NJ is a bit easier to get. But again you have to be under the care of a provider and treat with a provider

[@Kimd38243]

If you’re looking for a house, you may want to consider the area of malba. I think it’s in Queens or something like that.

[@SmbSmb-tm8om]

I love the comment quitting your job is expensive.. something to talk about it

[@josephlim6854]

Kudos!!! Enjoy your sabbatical! During the planning, did you take into consideration volunteering to get laid off (so you would get severance/benefits.) I'm not sure if this is even possible but just a thought.

[@emette37]

Where is your shirt from? It’s so cute!

[@Bukola1]

Thank you! Its the JACQUEMUS Bagnu open-back cotton-blend terry top

[@emette37]

@@Bukola1 Thank you!

[@HallofKnowledge]

I'm going to Lagos, Nigeria last quater via London.

[@fiyinobayanmusic]

Are you willing to go somewhere cheaper than NY during your sabbatical?

[@TD-gn1mm]

I took a break as well. You can get free insurance. Medicare will approve you. I also was add the max to my HSA. Always opt for HSA for single healthy individuals My last month, I did all of my check ups 😂😂. So Medicare is only for my peace of mind I put my funds into a CD as well. I am getting $300 in monthly interest. 😊. Take a break is so doable

[@fionacampbell7020]

Hi Bukola, hope you're well and enjoying your sabbatical. Just wondering (and of course you don't need to answer), is there a reason why you decided to rent rather than buy a property? Of course now that you've taken a career break it wouldn't be wise to buy and I can see you intend to travel. But just wondering when you were previously working, is there a reason why you chose to rent?

[@simba8276]

at 0:50 she said "if you a brokie or hater, just leave now. I got my money and Im using it"

[@SM-lg3mn]

OMG I WANT TO GO TO JAPAN WITH YOU 😭 I'll find you on linkedin (sometime before October as of now right?)

[@SM-lg3mn]

Black peoples in Japan 🇯🇵 let's go to korea too 😁

[@namelessghouls]

Why not take a leave of absence and come back in six months? I know Amazon has that option for people. My skip level took 6 months off and came back.

[@rachiboo14]

Was thinking the same thing

[@Bukola1]

Tbh I didn't know this was an option! But thanks for sharing it

[@anniesshenanigans3815]

Take a 'leave of absence' from your job if it's an option. You would have a job to go back to and that unknown would not be an issue.

[@innocentmadanhire2391]

Bukola is it important to buy a car in the US & how does not having 1 positively influence one s savings ?

[@Bukola1]

Having a car depends on your location, in cities like NYC you don’t need one because the public transportation is pretty good and you also have access to cabs & Ubers

[@TheObiribea]

I'm from Europe and have private healthcare. so interesting usa doesnt have universal healthcare.

[@benbenassi2348]

No debt? How did you do that?

[@darcipeeps]

The next & related videos at the end aren’t populating for me. Maybe an issue on my end