Kissing your job goodbye how do I quit

Kissing your job goodbye how do I quit Kissing Your Job Goodbye How Do I Quit?Posted October 13, 2011, by Annie Dang Leaving a job can be just as hard as leaving a relationship. Knowing when to cut your losses and start anew is instinctive for some, but for others its a slow, painful and drawn out process. Packing up your desk and striking out for fresh terrain might be a scary experience, but the pay-offs can be enormous. The fruchtwein important thing to remember is that, if you do decide to make the break, youll need to go through a process of negotiation so that both parties can minimise animosity and tension. To leave or not to leave As with relationships, most of us stick around in a job long after we know we should. Its familiar, its comfortable and sometimes its just easier to stay. Even if all the signs point towards the exit, we continue to drag ourselves through the daily grind, pretending that everything is just fine. So how do you answer the all-important question Should I stay or should I go? Writing a list of pros and cons can often sort out mixed emotions and help when people are making decisions about their love life. Why not do the same with your job? It will help you decide whether to stay or go and will save your work colleagues from sitting through hours of listening to your grievances. Remember, working relationships have expiry dates as well. Excuses for staying Often we stay in relationships (personal and professional) because of fear fear that we wont find something or someone else, fear that no-one else will want us, and sometimes fear of not knowing what will happen next. Other times we stay because weve invested time in the relationship and dont want to go through the hassle of starting all over again. We know all the little nuances of the job how everyone at work likes their coffee, how to use the quirky filing system, and what all those in-house acronyms mean. This is where the question of the old and familiar versus the new and exciting arises. New relationships bring interesting challenges and exciting opportunities, which give you a new lease of life. Current relationships, like current jobs, may be familiar, but if it isnt working then maybe it is time to be brave, overcome your fear, and make a move. SOS relationship therapy Like relationships of the heart, working relationships are a two-way street. But what happens when we reach a crossroad or even hit a dead end? Before you consider ending the relationship completely, you might want to pull over and get some therapy. First step talk it over. Sit down with your boss, discuss your concerns and talk things through you might be surprised he or she may really want to keep you and might even look at ways you can both improve your work situation. If your relationship with your boss is on shaky ground, you can always call in the career advice experts human resources (HR) to mediate discussions between you and your boss. Saying goodbye Once weve made th e decision to leave, making sure the break-up is as smooth as possible is what most of us aim to do. But what do we say to our soon to be ex-boss at the end of a working relationship? Awkwardness and uncomfortable stand-offs can become the norm in work break-ups just as in relationship break-ups. Telling your boss that he or she is an inconsiderate, insensitive imbecile is neither helpful nor professional. Making a dramatic exit may be tempting but burning your bridges will only hurt your career in the long run. So forget the idea of sending a text katechese or leaving a post-it note stuck to your bosss computer. While it may be easier to do this, such goodbyes wont help your chances of getting a future job reference. When it comes to making an announcement of your departure, avoid the temptation to spread the news around the office before you have informed the boss. Organising a time to speak with your boss about your decision is better than abruptly announcing it as he or she is r ushing out of the office. A face-to-face discussion with your employer with a well-constructed resignation letter in hand is a simple and stylish way of saying goodbye. No matter how bad your relationship has become, your boss will appreciate that you have been honest. Furthermore, it is professional and your employer will have a good lasting impression of you no matter what difficulties youve had in the past. People dont remember how you started but they sure remember how you left. And while youre at it, its a nice gesture to leave your contact details in case your employer has any questions about the work you were doing before you left. While there may be 50 ways to leave your lover, there really is just one right way to kiss your job goodbye Already got one foot out the door, and on the hunt for a new job? Heres how to get the most out of your job hunt ResourcesMy first resumeCover letter for my first jobCareer Insider StoriesShelley Lask - Body Positive Health & FitnessInterest ed in becoming a?Human Resources OfficerGeneral ManagerBusiness ManagerAccountantOffice AdministratorPopular Career Searcheshow to become a job recruiterreal estate job requirementscover letter for a job without experiencesafety officer job descriptionwhat to study to get a job perth wa CoursesBachelor of Social WorkEnquire Online Enquire OnlineCertificate III in Health AdministrationEnquire Online Enquire OnlineBachelor of Criminal JusticeEnquire Online Enquire OnlineCertificate III in Allied Health AssistanceEnquire Online Enquire OnlineAnnie DangRelated ArticlesBrowse moreGenerations in the workforceStart-upHow Millennials are saving the world through businessThe Deloitte Millennial Survey is out and the message is clear business is below expectations when it comes to social impact. We speak to some social enterprisers who are successfully driving profits with purpose.AdvertisingEmbracing technology key to success in advertising worldThe marketing and advertising industries were amongst the hardest hit during the recent economic downturn but opportunities and openings are still to be found.WORKFORCE TRENDSSalaries set to rise with strengthening economyAbout half of employers are planning to increase their workers salaries by up to six per cent, and nearly one in 10 are willing to consider a 10 per cent rise, according to the latest Hays annual salary guide.

How long will my retirement savings last Understanding the 4% rule

How long will my retirement savings belastung Understanding the 4% ruleHow long will my retirement savings last Understanding the 4% ruleTrying to figure out how much you should save for retirement or how long your savings will last? In todays post, we are going to look at the 4% rule and how to use it to determine how much you should be saving or if you areready for retirement.Follow Ladders on FlipboardFollow Ladders magazines on Flipboard covering Happiness, Productivity, Job Satisfaction, Neuroscience, and moraWhat is the 4% rule?When it comes to saving for retirement, it seems there are a ton of rules to understand. Every financial professional has adifferent perspectiveon what you need to do in order to thrive in retirement or how long your retirement savings will last. It can be confusing to sort through all the data at your disposal and identify how much you must save to retire.Many financial professionals, bloggers, and money experts recommend using the 4% rule. It may sound simple to understand but lets take a deeper dive.The history of the 4% ruleIn the early 1990s, financial plannerWilliam Bengencan up with the 4% rule. He tested a variety of withdrawal satzs on several different portfolio allocations using return and inflation data back to 1926. He discovered that the ultimate withdrawal rate would be 4% assuming a 30-year term.He established that each retiree would take 4% their first year and then adjust for inflation in the years remaining.Many people assume that with the 4% rule you withdrawal 4% of your total portfolio value each and every year in retirement. This isnt the case. Your first year in retirement you will withdrawal 4% and then adjust for inflation every year after that.For example, lets say you have a portfolio of $1 million and inflation is 2%. Upon your first year of retirement, you would take out $40,000. Then your second year you would take out $40,800. Then your third year you would take out $41,600 and so on.Keep in mind, th e 4% rule doesnt guarantee you wont run out of money or that your retirement savings will last. However, if you stick to a pre-determined withdrawal amount, it can provide a level of confidence that your portfolio will support you at least 30 years.How dividends and taxes play a role in the 4% ruleThe other two factors worth mentioning are taxes and dividends. Many retirees assume they should take their dividends as well as 4%. This is incorrect. Retirees should factor in their dividends into their 4%. If we use the example above, and you received $15,000 in dividends in your first year of retirement, you should only distribute another $25,000.The same goes for your taxes. You should mucksmuschenstill only distribute 4% of your total portfolio and pay the taxes on that sum. Lets say your federal tax rate was 24%, you would then need to withdrawal $52,600 to account for taxes. This would mean that your withdrawal rate would be 5.3%. This percentage might not allow you to maintain you r portfolio for the longevity of your life.How much should I have saved for retirement?The four percent rule is a popular formula for figuring out how much you should save for retirement. Lets say for example you wish to retire on 40K a year income from your savings, then you would need to save 1 million dollars. (Easy enough, Right?)Tip An easy way to determine how much you will need to save using the 4% rule is it to multiply your desired income by 25. I.e. 40k times 25 = $1,000,000.00Why 4%? Why not 5, 6, 7%The 4% rule was determined to have the highest probability of not running out of money based on historical market conditions. Even at just 4%, the rule doesnt guarantee 100% success that savings will last, because of this academics debate the validity of the 4% rule.Some believe the 4% rule is too conservative, while others like Ibbotson believe the 4% rule should be revised to a lower withdraw rate to adjust for todays lower interest rates.Why the disagreement?No one knows fo r certain what type of returns a retiree will experience. A retire who retires when stock valuations are low may experience above-average returns in retirement and may be afforded the opportunity to take much higher withdrawals.The retiree who retirees at the peak of the market, may be more inclined to experience a market downturn or low growth in retirement, and may find even modest withdrawals deplete their nest egg.The 4% rule doesnt work for everyoneMichael Finke, Ph.D., CFP Wade D. Pfau, Ph.D., CFA and David M. Blanchett, CFP, CFAsuggest that retirees may want to aim for a 3% rule. However, even with this rule, there is a 20% failure rate.On the other hand,Michael Kitceshighlights that since the late 1800s that bond yields may have been low but stocks performed horribly. Yet, he still notes that if a retiree uses the 4% rule with a portfolio invested in 60% stocks and 40% bonds, they would end up with double the amount they started with after 30 years.So, whats the point? Its i mpossible to predict the market and future returns. This makes it even more unlikely that you can predict your withdrawal rate.Making your retirement savings lastListening to experts who disagree can make you feel hopeless. If you must save over a million dollars just to earn a modest income, an eventual retirement may seem unattainable.However, all is not lost you may not need to save as much for retirement as the calculators suggest. You just have to be more efficient with your money.Consider a tax plan to minimize taxes in retirement. Every dollar you can avoid in taxes is less money that needs to be withdrawn from your portfolio.Consider the best timing of Social Security benefits. Contrary to popular opinion waiting to 70 may not be the best plan.Invest in ways to reduce costs and minimize expenses. Saving money is often times more efficient than trying to earn more money.Invest differently. Consider alternatives to bonds in the portfolio likeM.E.Cs and Fixed Indexed Annuities. These contracts have shown to generate higher returns than bonds with less drag on the portfolio when markets are rising.Diversify your income sources. Consider alternative ways to increase your income in retirement such as the numerousways to make moneyonline, or even a hobby farm or side business.Develop afinancial emergency preparedness plan. The most significant risk to your retirement is a financial emergency dictating that you withdraw funds are an inopportune time.The bottom lineWhether you decide to use the 4% rule or not, you need to determine a withdrawal rate thatwill work for you. Even if you dont know how your investments will perform, you need to make a plan for your retirement. The more prepared you are, the more likely your portfolio will last through your entire retirement.Evaluating all the aspects of your financial life will help you determine whats the right plan for you.This article was originally published on Your Money Geek.You might also enjoyNew neuroscienc e reveals 4 rituals that will make you happyStrangers know your social class in the first seven words you say, study finds10 lessons from Benjamin Franklins daily schedule that will double your productivityThe worst mistakes you can make in an interview, according to 12 CEOs10 habits of mentally strong people