Listen Now: Walk Away Fund

Subscribe on iTunes

Ready to walk away from your job, make sure you have the legs. I’m Brian Banmiller on Business.

A lot of people imagine storming into their bosses office, delivering an epic speech and slamming the door behind them. Unfortunately, real life isn’t like the movies and quitting can come with consequences, especially if you have bills to pay. So, if you’re so frustrated you want to quit, make sure you can afford to do so. According to business insider there are a few things you should do before offering up your resignation. First, figure out how much you need to walk away. What is the cost of your basic life expenses? Once you figure out the cost of one month, multiply that by at least six to give yourself time to get back out there. Next, find a savings plan that allows you to set aside money for your walk-away fund and to continue saving towards retirement or travel or a rainy day. You shouldn’t dip into your walk-away fund until you’re actually out the door. So plan accordingly. Just don’t burn any bridges on your way out. Brian Banmiller, CBS News.

About Brian

CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.