Should You Save More Money to Fuel Your Career Change before leaving your job?

Should you save more money to fuel your Career Change before leaving your job? The intuitive answer is yes - you're always on the safer side if you accumulate more savings before you leave your job for a career change. However is more always better or is there such a thing as an optimal amount of savings? If more is always better, then theoretically, you would never leave your old career or job to pursue a new career. However there will come a time where you might think 'Enough. I think I have saved enough and I'm ready now'. There is such thing as an optimal amount which you have to figure out.

In this video I will go through the pros and cons of having a huge savings fund before you leave your job and change careers. While the pros are quite obvious, many people are not aware that there are also opportunity costs of staying too long in their old job or career. A huge amount of savings (above the necessary, however you might define that) may also have effects on motivation and efficiency, which I will talk about in this video. With these pros and cons of having huge savings in mind, you can consider and calculate what the optimal amount will be, depending on how each of these things affect you.

If this video resonated with you, you might want to subscribe, as I will be posting a lot more content related to this very central topic of changing careers. While this video is just scratching the surface, examining if it's a luxury or not to change your career, whether you can afford it or not, in future videos I will dive deeper into where to start, what to pay attention to, the pitfalls and risks of career change, and the cost of not changing your career when you think it is absolutely necessary, and many other related topics. Don't forget to hit the little alarm bell, so that youtube will actually notify you when I upload more videos.

Watch next:
TOO LATE TO CHANGE CAREERS or START a NEW CAREER?

THE MYTH OF OVERNIGHT CAREER CHANGE

SO YOU WANT TO CHANGE YOUR CAREER?

IS CHANGING YOUR CAREER A LUXURY?

5 THINGS TO CONSIDER BEFORE LEAVING YOUR JOB TO BECOME AN ENTREPRENEUR OR FREELANCER

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Let me know what you think! Do you prefer to be on the safer side and save up more before leaving your job, or do you prefer to save up just the amount that you need in the hopes of being more motivated?

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Watch next
IS CHANGING YOUR CAREER A LUXURY?