07 Mar 3 Ways Your Life Can Change if You Quit Your Job
Ever wonder what it’s like to quit your job with no backup job in site? About 2 million people say “goodbye” to their old employer every month in the U.S. — but how many of them use that opportunity to do something different?
If you’re receiving annuity payments now, you may be wondering what this would be like. About 52% of lottery winner continue working after they win; sometimes, this is because they like their job, but other times, it’s because they didn’t opt for a lump sum payout. Then again, they have good reason to, since the government takes about 25% of lottery winnings for taxes, a percentage that can take a heavy toll on a lump sum.
If you decide to sell your lottery annuity payments, you may finally be able to do something that never seemed possible before: quit your job. Here are three things you can do once that happens.
1. Find Your Place in the Community
Maybe you’re passionate about church, or the plight of the homeless — on average, people donate a bit over $1,000 to charities each year. When you have a cause you feel passionate about, you may wonder what it would be like to give more of your time and energy toward helping. Well, now is your chance to find out, and see the difference you can make in the world.
2. Open That Beach Bar You Always Wanted
Have you ever read about a job in a magazine and thought, “I wish I could…”? Whether that’s owning a small surf shack on the shores of the pacific, or opening a bakery, selling lottery payments can allow you to invest in a dream you never thought would come to fruition. Just make sure that you school yourself on the basics of owning a small business before you jump all in!
3. Get Ahead in Your Field
Just because you quit your job doesn’t necessarily mean you hate your field — just that it wasn’t quite the right fit for you. Taking some time off to go back to school or vocational studies can help you move ahead in your industry toward a position better suited to your talents and interests. About 26% of Americans say they don’t pay bills on time; an additional degree can help you boost your earnings. The average cost of a public college — excluding room and board — each year in the U.S. is about $9,000. Is this the year you’ll be in the classroom again?
Annuity payments aren’t a bad thing, but they’re not right for every life plan. If these options sound exciting to you, then maybe it’s time to give your two weeks notice and start living the life you’ve always dreamed about.