Life After Retirement: 5 Things To Consider Before You Quit Your Job

It's easy to think about quitting your job. It can act as an escape from difficult times, offer a change of pace in life and perspectives, or seem like a way to get away from being cooped up all day in front of a computer screen. Whatever your reasons for wanting to quit, you should always take some time before making any rash decisions about leaving a retired life. Before making any decision, consider the consequences of living in retirement, taking steps only when those consequences have been evaluated.

1. Do You Have A Plan?

Before you quit your job, have a plan of action. This can be a list of things you want to do while working or a list of potential jobs you would enjoy. The list should include the following:

A plan for finding money for new hobbies and interests during your time off.

A plan for managing your time and keeping track of appointments.

A plan for dealing with any unexpected problems that may arise during your time off (health issues, family issues, financial issues).

All these plans will help you ensure that your time off goes smoothly and that you don't regret your decision to quit.

2. Are You Ready To Lose Some Money?

Quitting your job may not be as financially rewarding as you expect. If you leave without a backup plan, the money from unemployment may run out before another source of income is found. Even worse, you may be forced into a situation where you don't have the money to live on if you quit. This is especially true if you have a family and your job provides health insurance for your entire family.

Don't just quit your job because it doesn't feel like work anymore. Consider the possibility that quitting your job may come at a financial cost and that you may need to change some of your plans accordingly. Research how much money can be earned doing part-time work elsewhere and how much money is required to pay for basic needs while you are between jobs.

3. Is Your Job Market Good?

Getting a job in a bad economy can be challenging, especially if your industry is experiencing layoffs or close-downs. There may be people with better qualifications than you looking for work, and it may take a lot of work to get the same job that you want right away. If you are now unemployed, finding something else will take some time.

If you are considering quitting your job, consider whether or not the economy is booming right now in your area of expertise. Will it be easy to get a job in your field? Will you get the perfect job right away? Or will you have to settle for something less than what you'd planned for yourself?

4. Are Your Finances In Order?

Tempting as it may be to quit your job and go out and enjoy your golden years, you must take steps to ensure that this won't cause personal problems. Before you quit your job, ensure that your insurance policy is up to date. Ensure that you have enough money saved to pay for a few months of your current expenses, and don't let yourself get too deep in debt before quitting.

If you are considering quitting your job to set up on your own, then ensure that you have all the paperwork ready to go and that no outstanding bills need to be paid.

For those considering retirement, you may be tempted by the idea of "living large" now that you no longer have a job to take care of. While this is okay in moderation, do ensure that your funds are in order before making any big decisions.

5. Are You Ready To Give Up Control?

Living in retirement may seem like an exciting new freedom, but it can also be a little scary. You won't be in charge of what happens next and might not even know where your next meal is coming from. Having financial freedom and control of your own time may feel great. However, if something terrible happens between now and when you return to work, it will be hard for you to return. You'll have a whole other set of issues to deal with, and you won't think joining the workforce again will be worth it.

If you are considering quitting your job to set up on your own, ensure that you have thought this through and have a plan in place. If something goes wrong, you can still work part-time or start a side business without worrying about money. If you quit and find yourself struggling, it will be challenging to get back into the workforce if needed.


Leaving your job can be a danger, but it can also be a relief. When you are thinking about quitting your job, don't make the decision lightly. Think about how you will manage your time and the steps to be taken to ensure that there are no unforeseen problems in the future.