Why I Quit My 9 to 5 Job at 40
Introduction
Hey everyone, SG Dad here! Today, I'm doing the video in a different format. I'm outdoors, walking around the park while talking. I enjoy these walks in neighborhood or nature parks as they help clear my mind and give me time to reflect. As an INTJ, I usually like to present my thoughts in a structured way, so although this may seem free-flowing, I've thought through what I want to share. I'm going to talk about five main reasons why I chose to quit my full-time job at 40.
1. Time
Time is limited and precious, especially as we age. In our 20s, we may feel like we have a long runway, but in our 40s, we realize we're at the midpoint of our lives. Time is the one finite resource we can never get back, unlike wealth which can be grown in many ways. Working a 9 to 5 job means our time is controlled by others. Even if we're in mid or senior management, there are still directions and initiatives from the top that determine how we spend our time. The eight hours at the office or working from home don't really belong to us.
It's not just the eight hours; we also spend time getting ready, commuting, and recovering after work. After a long day, we're often too tired to do anything meaningful. Our mind may still be on work, or we're mentally drained. Personal growth, hobbies, and spending quality time with loved ones get pushed aside. When we add up the time spent sleeping, commuting, and doing daily chores, we may be left with only one or two hours of personal time. With such limited time, it's hard to be productive.
I realized I wasn't okay with this anymore. Once I quit, I would be able to reclaim my time for what really matters. I would still be working on building my own business, but I would be in control of how I manage my time. I wouldn't have to sit in meaningless meetings that drain my energy. As an introvert, these meetings are a major drain for me. If you're a manager, you know how it is to chair a meeting. I always try to keep the number of people involved to a minimum and end the meeting as early as possible.
2. Relationship
The second reason is relationship, which flows from the first reason, time. Without enough time, it's hard to build strong and meaningful relationships with the people who matter. For example, I'm a new father, and my eldest son is six years old. These six years have passed by very fast, and I realize we have limited time with our kids during these important years. As they grow older and enter their teenage years, the chances of spending quality time with them will decrease significantly.
A full-time job limits the amount of quality time we can have with our families. We're left with evenings and weekends. If I quit my full-time job, my time would be more flexible. I could join my kids after school for activities and fully immerse myself in those moments. My wife and I are already doing our best to spend time with our kids, even with our full-time jobs. We don't have a helper because we believe in doing things ourselves. We take pride in not outsourcing too much when it comes to raising our kids.
When we pick up our kids from childcare, it's common to see them being picked up by helpers or grandparents. We believe that if it's the parents spending time with them, it will be much more meaningful. These little moments may seem like a waste of time to a working adult, but they are important for building relationships.
3. Health
Health becomes a bigger concern in our 40s. Our bodies are not the same as they were in our 20s or 30s. Thankfully, I haven't experienced any major health scares yet, but I have friends who have. I take this as a warning. Even though I go for annual checkups and my cholesterol level and visceral fat are trending in a certain direction, I know I need to pay more attention to my health.
Continuing with a full-time job makes it harder to take care of our health. There's less time for home-cooked food. My wife tries her best to cook, but it's tough to juggle after work. There are days when we rely on takeaway or delivery. There's also less time for exercise. I try to squeeze in a quick workout or jog during lunchtime or in the evening, but without a full-time job, I can fit in an exercise schedule more easily.
I don't want to exchange my time for money at the expense of my health. The money may be used to get back my health, which is not a good equation. I'd rather exchange time for better health.
4. Pursuing a Passion
Many of us had hobbies and passions when we were young, but as we grow older, our lives become more boring, especially with full-time jobs. When we're doing well in our careers, they demand more of our time and energy, leaving us with little time to explore our personal passions. If you ask people in their 40s what their passions are, they may need time to think.
It's hard to develop or continue with passions when we don't have the time. For me, my passions include sports like badminton and soccer, but these require people to play with. Hiking and camping are activities that don't require others, but they are limited in Singapore. When we travel to Japan, we enjoy hiking and camping more.
Quitting a full-time job may not fulfill all our passions. It's also about relocating to an environment that has a community and opportunities to explore these activities. Passions are important because they bring us joy and fulfillment. Without them, life can feel meaningless. Having the time and mental space to pursue passions is a key reason why I want to quit.
5. Financial Readiness
The fifth reason is financial readiness, which depends on individual circumstances. My wife and I feel that we are more or less financially ready to quit our full-time jobs. After doing our calculations, we think it's not as risky as people often believe.
Most of us are told that we need a job to have an income to pay for our house and raise our kids. While this is true, if we build a certain amount of net worth and have different sources of income, including passive income, we can explore getting income outside of a full-time job. The main reason why many people don't dare to quit, even though they agree with the first four reasons, is financial. Once we stop working full-time, we lose the steady income that pays for our expenses and debt.
For us, it's a mental hurdle. We may take a hit in our net worth and monthly income, but we believe there are opportunities that will open up to bring in money. If you don't have a huge debt, have paid off your home loan, and have sufficient savings and investments, you may want to consider slowing down in your career.
Many of us in our 40s or 50s feel that quitting our jobs after building our careers for so long is a huge loss. It takes time to adjust. That's why a lot of people, even at the retirement age of 60 or 63, still want to continue working. But for me, I don't want work to be the majority of my life. There are many things we can do outside of work, and we may not have the energy or motivation to find new hobbies or passions when we're older.
Stopping full-time work at an earlier age, like 40 or mid-40, or at the latest 50, is the right time. If the income is the only reason holding you back, you may need to start building more income sources, such as freelancing, investment, or giving tuition.
In conclusion, quitting may slow down or reverse the growth of your net worth, and you may experience a drawdown. But with careful planning and if you don't have a large debt, it's definitely feasible. The numbers depend on your individual expenses, commitments, and obligations.
Some couples may find that one person can quit first to take care of the family, like Matthew and his wife. This can be a positive arrangement.
I hope you enjoyed this sharing. If you did, please comment below, like, share, and subscribe. Thank you!
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