When Should You Quit Your Day Job?

[Bling1]

More importantly, does your job provide much needed benefits for you and your family members? It is one thing to have a decent job, or income, but no health insurance. I know personally, I have had surgery and a few other medical procedures that were over 100k combined. Not to mention hubby's medical cost, and braces for our daughter. Those type of expenses can eat up a great salary fairly quickly. Will you be able to pick up insurance later, and at what cost? Maybe you can reduce your hours and work part time.

[hnickless]

I officially retired once my income was higher than the top paid Dental Assistant in my area (my former job). I made sure the income stayed steady. There was no point working if I was making more than what my career would give me.

[gerekallen]

I can speak from personal experience, as I left my 'day job' too soon. Until your making, at a minimum, what you are making at your day job, with at least 6-12 months in reserves, I wouldn't even consider it.

Furthermore, you need to have a serious conversation with yourself about 'what do I do if the worst happens'. If you can weigh all the positives and negatives, and be comfortable with them, use that in your decision making process.

It's okay to take calculated risks, because I firmly believe that you MUST take risks to reap huge rewards, but take smart risks.

[Ahmed Mandour]

Hi,
First, i think that you have to build a strong network . then if u would like to quit your day job it'll be easy .

To your success,
Ahmed Mandour

[BradleyB]

Surprised nobody has mentioned this already: Do a thorough analysis of your budget. Working from home means you will save various amounts of money (car insurance might go down, gas, wear and tear on car, toll fees or metro fees (depending on how you commute to work).......When analyzing your budget, find the "fat" that you can easily cut out knowing that you want to work from home. After doing this, you should be able to understand what your monthly take home pay needs to be. Then you can see if your stay-at-home career can support your newly budgeted lifestyle

[Ck411]

Maybe if you just reduced your hours more than just quit it would be easier for you to eventually leave all together.

[carlamae]

I'm full time at home, but my recommendation would be to wait until you have replaced your wage for at least a couple months. Then you can set your business on turbo, girl! All the best.

[RogueIMer]

When you make twice as much money working P/T in your home biz than you do working full time at your JOB...it's time to quit the job and work the home biz full time!

That's the formula I'm sticking with!

[ShayinSC]

I've heard two different pieces of advice:

1. When you make twice as much as your day job.

2. When you get to the point where you can't juggle both (because they are both successful) and you need to let one go.

Other advice given here is great, as well. Income isn't the only factor to consider.