Episode 153

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Published on:

6th Nov 2024

You Can Afford to Leave Your Job But You’re Afraid to Quit | E153 Tess Waresmith & Nicole Franklin

There will be a point in your FI journey when a stable salary will become less important to you. You’ve built up your savings and investments to a place where you are comfortable. The freedom and flexibility over your time are more valuable than that regular paycheck.

The thought of leaving your job has you nervous though. Even after running the numbers and knowing you have enough, there are still a lot of emotions tied up in financial insecurity. “Do I really have enough? Maybe I should work for one more year.” On top of that, maybe you enjoy your job, don’t want to leave your team down a member during a busy period of work, or unsure what life will feel like without a regular 9-to-5 job.

Setting all of that aside, deep down you know it is the right thing to do, you just can’t seem to pull the trigger. That is why I wanted to chat with my friends Tess Waresmith and Nicole Franklin. Both recently left their careers to pursue something else.

If you listened to episode 138, you know Tess is a financial educator and money coach for women. Nicole Franklin and her husband Tyler are the creators behind the blog, Not Your Ordinary Plan, where they document their journey traveling the world while coasting to FI.

In this episode, both Tess and Nicole share a ton of practical knowledge such as a checklist to prepare for your leave, how to tell your employer you’re quitting, and what to do about that pesky medical insurance. We also get into the mindset side of things such as how to feel confident this is the right decision and embrace the serendipity of a job-free life.

If quitting is something you’ve been working towards, this is the episode for you. I hope you enjoy my conversation with world travelers and early retirees…Tess Waresmith and Nicole Franklin.

Key Takeaways:

  • How to know when it is time to leave your corporate job?
  • Understanding money dysmorphia
  • Test-driving retirement
  • What to do before you tell your employer?
  • How to let your employer know you’re quitting
  • Embracing whitespace and serendipity of a job-free life

Mentions:

Die With Zero: Getting All You Can from Your Money and Your Life

Taking Stock: A Hospice Doctor's Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life


More of Tess & Nicole:

Instagram: @wealthwithtess and @notyourordinaryplan_

Tess’s Free Course: https://www.wealthwithtess.com/fi

Nicole’s blog: https://notyourordinaryplan.com/start-here/


More of The Struggle is Real:

Find show notes and more at https://www.tsirpodcast.com/

Connect with Justin on LinkedIn: https://www.linkedin.com/in/justinleepeters/

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About the Podcast

FI Minded - Financial Independence, Early Retirement & Lifestyle Design
Achieve Financial Independence & Have Fun Doing It
Pursuing financial independence, financial freedom, or early retirement often leads to the same questions: How do I become financially independent? How much should I save? What happens after I reach FI?

FI Minded helps you use money to create more freedom, without turning your entire life into a financial optimization project.

Host Justin Peters explores the decisions behind building a flexible, work-optional life, from reaching financial independence and navigating Coast FI and Slow FI to spending your money, changing careers, stepping away from work, and figuring out what comes after FI.

Each episode combines practical personal finance with conversations about early retirement, lifestyle design, work, spending, healthcare, self-employment, and life after financial independence. The goal isn't simply to reach FI as quickly as possible. It's to make progress toward financial freedom while actually enjoying your life along the way.

On FI Minded, you'll learn how to:
- Reach financial independence without burning out
- Build a flexible, work-optional lifestyle
- Navigate Coast FI, Slow FI, and other paths to FI
- Make smarter decisions about spending and saving
- Prepare financially and emotionally for early retirement
- Figure out what life can look like after financial independence
- Think through the tradeoffs behind major money and lifestyle decisions
- Make progress toward financial independence while actually living your life.

Some of our past guests include Carl Jensen (1500 Days), Jeremy Schneider (Personal Finance Club), Nick Loper (Side Hustle Show), Andrew Giancola (The Personal Finance Podcast), Jordan Grumet (Earn & Invest), Rachael Camp (Work Optional), Jillian Johnsrud (Retire Often), Sean Mullaney (FI Tax Guy), Jill Sirianni (Frugal Friends), Jackie Cummings-Koski (Catching Up to FI), Joel Larsgaard (How to Money), Cody Garrett (Measure Twice), Jesse Cramer (Personal Finance for Long-Term Investors), Jess (The Fioneers), Chris Hutchins (All The Hacks), Diania Merriam (EconoMe), Andy Hill (Marriage Kids Money), Fritz Gilbert (Retirement Manifesto), Maggie Tucker (Inside Out Money), Cody Berman (The Financial Independence Show), Joe Saul-Sehy (Stacking Benjamins), Doug Cunnington (Mile High FI), and and others helping you rethink how to approach financial independence.
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