628: How Being a Quitter Will Make You a Millionaire 01:19:33

    <p><a href="https://www.biggerpockets.com/blog/10-challenges-quitting-day-job"><strong>Before you quit your job</strong></a>, you’ll need to do a few crucial things. If you haven’t done these yet, but are strongly considering leaving your job soon, <strong>Henry Washington</strong> and <strong>Rob Abasolo </strong>may advise you to wait it out a bit longer. <strong>Quitting your job is a big decision</strong>, especially if your family relies on the income that you’re bringing in. The good news is, that if you’re prepared, you can <strong>walk away making much more than you did at your W2</strong>. But, if you aren't, you could simply be taking a breather in between jobs, instead of building a life you love and ruling your schedule.</p><p>Henry and Rob both have eerily similar quitting stories. They both quit during the same month of the same year, making the same salary all while <a href="https://www.biggerpockets.com/blog/build-real-estate-portfolio-fast-the-stack"><strong>building a real estate investment portfolio</strong></a><strong> in the background</strong>. While Henry is more of a multifamily investing man, Rob has taken the short-term rental route to build his wealth. Both men have left the cushy <strong>healthcare-provided and retirement-matching lifestyles</strong> to <strong>build something much bigger</strong> not only for themselves but their families and employees.</p><p>If you’ve wondered “<strong>when should I quit my job</strong>” or “<strong>is now the right time to </strong><a href="https://www.biggerpockets.com/blog/should-you-quit-your-9-5-job-for-real-estate"><strong>go full-time into real estate investing</strong></a><strong>?</strong>” then this episode is a prerequisite for you. Henry and Rob go over the four things you need to know BEFORE you quit, things to be aware of as a full-time entrepreneur, how to handle<strong> taxes and healthcare</strong>, and some actionable tips for when you’re finally ready to take the plunge into full-time investing.</p><p><strong>In This Episode We Cover:</strong></p><p>Why<strong> quitting a high-paying job </strong>is probably worth it in the long-run</p><p>Spousal approval when quitting and why it’s mandatory <strong>before you start doing your own thing</strong></p><p>How much should you have in <a href="https://www.biggerpockets.com/blog/emergency-fund"><strong>safety reserves</strong></a> when you quit</p><p><strong>The “</strong><a href="https://www.biggerpockets.com/blog/work-life-balance"><strong>work-life balance</strong></a><strong>” myth </strong>and what a day in the life of an entrepreneur really looks like</p><p><strong>Changing how you invest </strong>after you say goodbye to consistent income</p><p><strong>Mapping out potential scenarios</strong> so you know what to expect on the other side of employment</p><p>And <strong>So </strong>Much More!</p><p><strong>Links from the Show</strong></p><p><a href="https://www.youtube.com/channel/UCVWDbXqQ8cupuVpotWNt2eg">BiggerPockets Youtube Channel</a></p><p><a href="https://www.biggerpockets.com/forums">BiggerPockets Forums</a></p><p><a href="https://www.biggerpockets.com/membership-types">BiggerPockets Pro Membership</a></p><p><a href="https://store.biggerpockets.com/">BiggerPockets Bookstore</a></p><p><a href="https://www.biggerpockets.com/blog/real-estate-investing-bootcamps">BiggerPockets Bootcamps</a></p><p><a href="https://www.biggerpockets.com/podcast">BiggerPockets Podcast</a></p><p><a href="https://www.biggerpockets.com/bpcon2022?utm_source=youtube&amp;utm_medium=description&amp;utm_campaign=none">Get Your Ticket for BPCon 2022</a></p><p><a href="https://www.biggerpockets.com/podcasts?utm_source=youtube&amp;utm_medium=description&amp;utm_campaign=none">Listen to All Your Favorite BiggerPockets Podcasts in One Place</a></p><p><a href="https://www.youtube.com/channel/UCxDXuLvtjJ9Est8PrG3i2VA">Subscribe to The “On The Market” YouTube Channel</a></p><p><a href="https://www.biggerpockets.com/blog/real-estate-601?utm_source=youtube&amp;utm_medium=description&amp;utm_campaign=none">Hear Our Interview with Jason Drees on Exceeding Your Goals</a></p><p><a href="https://www.biggerpockets.com/blog/should-you-quit-your-9-5-job-for-real-estate?utm_source=youtube&amp;utm_medium=description&amp;utm_campaign=none">Should You Quit Your 9-5 Job to Become a Full-Time Real Estate Investor?</a></p><p><a href="https://www.biggerpockets.com/blog/10-challenges-quitting-day-job?utm_source=youtube&amp;utm_medium=description&amp;utm_campaign=none">10 Challenges to Seriously Consider BEFORE Quitting Your Day Job</a></p><p><a href="https://www.youtube.com/c/Robuilt">Rob's Youtube</a></p><p><a href="https://www.instagram.com/robuilt/">Rob's Instagram</a></p><p><a href="https://www.tiktok.com/@robuilto">Rob's TikTok</a></p><p><a href="https://mobile.twitter.com/robuiltchannel">Rob's Twitter</a></p><p><a href="https://www.biggerpockets.com/users/robuilt?utm_source=youtube&amp;utm_medium=description&amp;utm_campaign=none">Rob's BiggerPockets Profile</a></p><p><a href="https://www.instagram.com/thehenrywashington/">Henry's Instagram</a></p><p><a href="https://www.biggerpockets.com/users/henryw22?utm_source=youtube&amp;utm_medium=description&amp;utm_campaign=none">Henry's BiggerPockets Profile</a></p><p><br></p><p>Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-628</p><p><em>Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our </em><a href="https://www.biggerpockets.com/blog/sponsors"><em>sponsor page</em></a><em>!</em></p>
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