For those of you following my blog thinking about quitting your corporate life. Ahem. Don’t. Pause. Well do, but there are financial impacts, of course. I’m working on making the transition to the dream and have been saving for this for some time. The reality of piecing together a family life with dual incomes of a farmer and violinist are a little precarious.
In my online training presentations I have a holding pattern slide I often use for the dead time when folks are still joining — it is called 10 tips for happiness and one of the tips is: don’t quit, take a leave of absence.
The first step in leaving a job is figuring out health insurance. For the exchange, you need to apply by the 15th of the month prior to your last week of job coverage. As I’ve been working at a full-time corporate job for the past 6 months and then 20+ years, my family has had the luxury of corporate subsidized health insurance, which has picked up over half the cost of health insurance for our family. Health insurance subsidized through a company is a substantial benefit which keeps folks from jumping ship and following dreams. Health insurance costs through the Health Exchange are based off the prior year’s tax returns, which mean the adjustment in cost for insurance from the income of a farmer and corporate job to the level of income of a violin teacher and farmer for our family would be realized after next year’s tax returns are filed.