Hey there! In this episode, we're diving into the topic of knowing your exit date and working backward from there. It's important to have a clear idea of when you want to leave your current job and start a new chapter in your career.
By setting an exit date, you can create a roadmap to help you achieve your goals and make a smooth transition. Once you have your exit date in mind, it's time to break down your financial goals into bite-sized pieces.
Start by figuring out how much you want to save before leaving your job, and then create a plan to achieve that goal. Make a list of any bills or debts you have and prioritize paying them off.
Additionally, think about what you're going to do with your 401K - whether to move it or invest it differently. Don't forget to consider any changes you may need to make to your medical plan as well.
Remember, it's all about taking small steps and tackling one task at a time to make your transition as smooth as possible.
So, grab a cup of your favorite beverage, sit back, and join us as we explore the importance of setting an exit date and creating bite-sized goals.
Let's break it down and make your career transition an exciting and successful journey.
Well, welcome back to another episode of the helices Dorsey podcast today. I'm going to be talking about how to implement and get things done before your exit date. So we are. Going to continue on talking about. Leaving your nine to five and what should you do before you leave? Okay. So first thing, first focus on your exit date and work backwards. Okay. So that's the first thing. You want to write down your exit date when you want to leave her nine to five, and then you want to work backwards after that. Next you want to create bite-size goals, such as the amount you want to say, the bills you want to pay or pay off. And also Mo. Moving your 401k, like putting it in a Roth or traditional IRA or putting in some other type of investment. Fund or portfolio. And what is needed to change who your medical as well. So you want to look into that. Also side note. I want to talk about. Reaching out to your HR department. So. This is if we're leaving the company altogether and you are. Basically working for either yourself or you taking some time off in between positions, those types of things, or in between companies. You want to talk to the HR department to see. What the alternative is or what are the options are in terms of medical? Most often. The HR department or your company will have a medical plan where you can actually continue on. You want to look into that now? Here's the caveat to that? The medical portion of it is definitely going to be expensive, especially for paying it out of pocket. I went to my HR department and they went through Forgot the name, but any who's. They went through it and went through that company. After you left the company. And then when they sent me the sheet on, okay, if you want to continue on your medical this time, we're just going to be, if you want to continue on your vision as to how much you're going to be, if you want to continue on your Daniel, this sandwich, it's going to be. And I must say the medical is the most, like it was$700 and I say, no, thank you. So I was like, I'll continue on the dental and vision, which is a plus, because if you're doing something like I live in California. So if you'd done something like covered California or going to healthcare.gov I don't think that some of those packages that, that they have have medical and dental in it probably want to, you know, dig into that a little bit deeper, but. Often those two. Are the least expensive, the dental and the vision. So I was like, Hey, I'll pay the 70 bucks for both. A month out of pocket, you know, I'll go ahead and continue that on. And I'll find something else for the medical. So you want to definitely talk to your HR department to see what they look like in terms of continuing on your medical. The continuum metal coverage I had I remember is was Cobra. So you won't look into your, your HR department for that. Okay. And then last but not least take action. Take baby steps. Make sure you plan everything. You write down everything. And you want to take baby steps towards your goal. Now, I know some instance where we want to leave. We want to jump. We want to just say I'm done with this, you know I was at that point, but then I had to step back and like I say, you. Look at things, logically look at things. So where's the you're like, okay, when I leave, I want to be gone and I want to be done. So. Make a plane. So focus on your exit date and work backwards. Create by size goals, such as a Mount. You want to say. Because you want to pay off look at to move your 401k to another investment portfolio or in type of IRA what is needed to change your medical. So you want to reach out to your HR department regarding that and take action. Take those baby steps came. All right. So hope you liked this episode. If you liked this episode and you want to give a review. Definitely do. So give me a review or take a snapshot of this episode, posted on Instagram and tag me in CS Dorsey underscore. Hello. I will love for you to share this and you can definitely DM me. Let me know what you think about this episode, if it was helpful and what you want me to talk about the future? All right. Until the next time talk to you in the next step so by