Just to let the reader know the current situation: I joined an insurance company in the mid of 2014 and resigned in early Sept 2017 without a job. Later, I came back to the industry in early Dec 2017.
This is inspired from some friends who have been asking me how do I make decision to just submit my resignation without having a job to fall back to? Was it just spur of the moment? How do I have the courage to do so? What about my financial commitment? Was I not afraid to be unemployed?
Well, it’s actually not that simple and it was not an impromptu decision. I might not have a clear plan, but I had a plan. If you read my past entry, this dormant period of of not working is not the first time. I have experienced it when I quit my job as a medical doctor at a government hospital. Will this become a trend for me? I’m not sure. But for some people (read: me) , 2 weeks of leave might not be enough. They just need that long break. So far 3 months break works for me, but honestly I do hope later in future, before retiring, I can have a year off from work, or an early retirement 😁😁😁
My break so far lasted for about 3 months. Do I plan for 3 months break? No and Yes..
1. My first break - I didn’t know how long it’d last. I was still finding my path after quit practicing medicine. I applied for jobs here and there, even for jobs that I was overqualified for. My interest at that time was into teaching and I was also curious about insurance industry after reading couple of blogs by ex-housemen. After 2.5 months, I finally got a call from an insurance company and later was offered for a position in claims department.
2. My second break - After more than 3 years, I felt exhausted. Physically and mentally, especially the last few months. I had been very busy with work, I didn't have time for myself and God. I felt more and more distant spiritually, physically tired of people keep depending on me, and I lost. I want to find myself again, find that balance, that's what I thought. Then after hearing one after another some colleagues are leaving, it gave me courage. So I did.I have quite a bit of a drama before I actually resigned. I first submit my resignation and later was offered to transfer to another department. I took my time to think about it and accepted the offer with conditions agreed by my future boss - i.e. I’ll come back after 3 months break (initially I planned for 6 months). However things did not go well with HR dept, as they won’t agree with my condition (for unpaid leave), and gave me an alternative to have 2 weeks break (use up all my annual leave). So I decided to leave for good. I do not have a job at the time, but soon after my resignation, my ex-bosses who had ‘migrated’ to competitor companies contacted me and I agreed to one of them. Prepare and sent my resume, went for interview during the next week after my resignation. It happened so fast. Luckily, the future boss agree to wait for me to come back in 3 months. They knew I have resigned and have no commitment to serve notice with my previous company anymore, but they are willing to wait.
The main reason we afraid the most would be our financial commitment. So I told my friends the same thing I applied to myself - start to save money from NOW! I only plan for 3 months break, but before I tender I ensure of this.
- Saving of at least 6 months expense (this would include loan repayment, utilities, daily expense for food/groceries, monthly commitment to parents,etc)
- Emergency fund (3 months of expense)
- Additional fund to be used during break - if you plan to travel, take classes, meeting friends, etc.
The bigger your commitment is, the more you need to save. If you have a family of your own, there are also many things to consider and of course the expense is more than if you’re single.
When putting aside money as your normal expense, that does not mean you also spend on things as usual. Of course we want to enjoy our break, but during the break, if I did not have any travel plan, or going out, I just ate at home, which was cheaper than eating out. The bright side, you’ll be more careful on what you spend, be more calculative 😜 (of course unless you are really loaded, go ahead!).
Even though the main concern when taking a break is the financial aspect, don’t let this limit your joy. Remember, happiness is not limited to material things. Enjoy your free time. Maybe it’s time to spend more time with your parents and family. Maybe it’s time to do the hobby you have forgotten for quite some time. Maybe, it’s time to take that class you have always wanted to attend. Maybe it’s time to start doing physical exercise which you always neglect because you were always too tired to do it. Maybe it’s time to start decluttering, giving more space to your room. Whatever it is, it is time.
Some might think that this is only temporary, so it will be only a short term high. When the break is over, everything will go back to the way they were. So what’s the use of it? Are we actually running from the problem instead of solving it? Well, it’ll depend on how you spend your time. Besides doing things I didn’t have the chance to do while I was busy working, I also take this time for self development, learn for better career management and read books to find different perspective of things or life.
I have always been a workaholic. Taking this break is necessary to me, but might not be for others. So, this is only my personal opinion and preference. I am looking forward to read, travel and experience things. The only priceless thing here is the TIME.
Preparing for next break…..maybe? 😉
