Dallas Financial Adviser Derrick Kinney Shows Why Now May Be the Best Time to Quit Your Job

DALLAS, April 10, 2012 /PRNewswire/ -- Is it time to quit your job? In this economy, it may seem like bad timing. But if you are so unhappy at your current position that it's negatively affecting other aspects of your life, now may be the time, says Dallas Financial Adviser Derrick Kinney, principal of Derrick Kinney and Associates.

"I recently left a job after we had a management change and the new manager was displaying management styles I didn't think were appropriate," said human resources professional Sarah Warren. "She was using bullying tactics and belittling people in front of their peers. That was really the big trigger for me because it just wasn't a healthy environment anymore."

Studies show Warren was right to leave when she did. Working in an unhealthy environment can cause severe physical and mental distress.

"Stress overload is a problem for us in many ways," said Dr. Ed Laymance, founder and director of Impact Counseling and Guidance Center in Arlington, TX (http://www.impactcounseling.com). "Simply put, our bodies begin to break down. We are sick more than normal and it takes longer to get well. We experience excessive fatigue and rest does not bring rest."

Dr. Laymance notes that excessive stress also weighs on you mentally and emotionally.

"We have difficulty staying focused. Decision-making is compromised and we make choices we might typically recognize as being poor choices," said Dr. Laymance. "A growing frustration becomes our constant companion and we become more and more anxious, angry, and depressed."

But how do you know if it's really time to quit?

Kinney suggests asking these questions if you're debating sending a resignation letter:

• Do you dread going to work?
• Do you lack motivation?
• Do you daydream about the day you work up the courage to quit or think it wouldn't be that bad if you got fired?
• Is work making you physically sick?
• Is your job a dead-end?

"If you answered yes to any of these questions, then it is time to consider resigning," Kinney said.

"I felt like I wasn't myself," Warren said. "I was just coming home numb. I knew that wasn't healthy and I needed to make a change."

If you're now realizing it was time to quit your job five years ago, but think you just can't afford to quit, financial adviser Derrick Kinney says there are 3 steps you can take to lessen the financial burden of job hunting:

Step 1: Look For a Job While You Have a Job

"Unemployment bias is a real concern," Kinney said. "As unfair as it may seem, employers frequently prefer to hire candidates that are already employed. The longer you're unemployed, the harder your job hunt may be."

Update your resume, cover letter and LinkedIn. Begin networking both online and at events.

A word of caution -- although it's tempting, don't start job hunting while you're physically at your current job. Even if you're planning on quitting, you don't want to get fired. Having bad references will only make it harder to find another job.

Step 2: Stash Your Cash

If you're planning on quitting before you find another job, you need to start saving as much as possible now. Stop purchasing anything that's not a necessity and use that extra money to build up your savings account.

"Take an inventory of your assets. How long would you be able to survive without a paycheck?" Kinney said. "Be realistic. If you wouldn't be able to survive a few months without a salary, then you probably shouldn't quit until you have another job lined up. But if you have other sources of income or savings, you might be able to quit now."

Step 3: Plan Ahead and Prepare

Before you quit, consider the repercussions carefully. Can you expect a severance package? How long will your healthcare insurance continue? Can you afford to buy private health insurance?

And then, when it comes time to actually quit, do so carefully. Prepare yourself emotionally. Don't go out with a bang. Yes, you may have a thousand things to get off your chest, but it never pays to burn bridges because you will need your boss to provide a reference letter, he said.

"By following these three steps, you can decrease the financial risk associated with unemployment. So if job stress is making you physically, mentally or emotionally sick, it may be time to send in that resignation letter!" said Kinney.

For more information, go to http://www.DerrickKinney.com.

SOURCE Derrick Kinney & Associates