Podcast Summary: So Money with Farnoosh Torabi – Episode 1756: How to Quit Your Job (Encore)
Introduction
In Episode 1756 of So Money with Farnoosh Torabi, host Farnoosh Torabi delves into the increasingly relevant topic of quitting one’s job. Featuring Goli Kalkaran, Founder of Lessons from a Quitter and a master certified life coach, the episode explores the cultural shifts, personal challenges, and strategic considerations involved in leaving a career that no longer fulfills.
The Current Landscape of Quitting Jobs
Farnoosh opens the conversation by highlighting a significant trend: approximately 50% of workers in 2024 are contemplating quitting their jobs, surpassing even the Great Resignation period during the pandemic. This surge is attributed to factors such as the desire for better pay to cope with rising living costs, the pursuit of more fulfilling careers, and a broader movement towards personal and professional satisfaction.
Farnoosh Torabi [02:09]: "50% of workers are eyeing the exit, and that's according to LinkedIn and a Microsoft study that says more want to quit their jobs now than even during the pandemic."
Goli’s Personal Journey
Goli Kalkaran shares her extensive experience of quitting her law career after seven years of feeling trapped and unfulfilled. Her transition from a successful attorney to a life coach and entrepreneur was neither swift nor straightforward. She emphasizes the internal struggle and societal pressures that delayed her decision to leave her established career.
Goli Kalkaran [12:20]: "It took seven years of me working as a lawyer and being miserable the whole time to even get to that year."
Affording to Quit: Financial and Emotional Considerations
A significant portion of the discussion revolves around the financial and emotional feasibility of quitting a job. Goli underscores that leaving a job without a financial safety net is a privilege not everyone can afford. She advises listeners to meticulously plan their financial exit strategy, such as saving a designated amount, reducing expenses, or securing a part-time job to support the transition.
Goli Kalkaran [15:54]: "There’s the math, which is like the actual finances, and then there’s all the mental drama."
Farnoosh adds that the fear of long-term dissatisfaction can often outweigh the immediate uncertainties of quitting, encouraging listeners to weigh their current misery against the potential for future regret.
Farnoosh Torabi [37:48]: "Let that fear motivate you to make some healthier steps today."
Dealing with Toxic Bosses and Difficult People
The episode also addresses workplace dynamics, particularly managing relationships with difficult or toxic bosses. Goli advises that not all challenging work relationships warrant quitting. Instead, she suggests developing strategies to cope, such as setting boundaries, reframing negative interactions, and maintaining emotional distance.
Goli Kalkaran [32:32]: "There is no job you’re going to go to where you are going to get along with everyone all the time."
Farnoosh relates this to her personal experience with difficult bosses, emphasizing the importance of not internalizing negativity and maintaining professionalism despite challenging circumstances.
Reframing Failure and Quitting
A pivotal theme is the redefinition of quitting and failure. Goli advocates for embracing quitting as a strategic pivot rather than a negative label. She challenges the traditional notion that "winners never quit and quitters never win," arguing that successful individuals often quit ineffective paths to pursue more promising opportunities.
Goli Kalkaran [27:00]: "There’s nothing wrong with that word. Winners quit. They figure out what’s not working and quit it very quickly."
Farnoosh complements this by encouraging listeners to view life as a series of experiments, where each decision, whether successful or not, contributes to personal growth.
Farnoosh Torabi [27:23]: "Life is a series of experiments... see life as a series of trials. And with trials come success and error."
Conclusion and Resources
As the episode concludes, Farnoosh and Goli reinforce the idea that quitting should be a deliberate and well-planned decision, rooted in self-awareness and strategic thinking. Goli shares resources for listeners interested in further exploring career transitions, including her podcast Lessons from a Quitter and her free class available at quitterclub.com.
Goli Kalkaran [38:38]: "You can follow me on Instagram, listen to my podcast, or join my free class at quitterclub.com."
Farnoosh wraps up by reminding listeners that inaction is a form of action, urging them to make empowered choices that align with their true aspirations.
Farnoosh Torabi [37:23]: "Inaction is action. So not quitting is a form of quitting... you’re relinquishing yourself to a state of misery."
Key Takeaways:
- Cultural Shifts: Modern workers prioritize personal fulfillment and are less tethered to traditional career paths compared to previous generations.
- Strategic Planning: Financial preparedness and emotional resilience are crucial for successfully quitting a job.
- Workplace Dynamics: Developing coping mechanisms for difficult work relationships can mitigate the need to leave.
- Redefining Success: Embracing quitting as a strategic pivot rather than a failure fosters personal growth and continued success.
For more insights and strategies on navigating career transitions, listeners are encouraged to visit Lessons from a Quitter at lessonsfromaquitter.com and join the So Money Members Club at SoMoneyMembers.com.