“Never quit or you’ll be fired”

Sam Dogen resigned earlier this year.

To most people, this isn’t a big story, but to the millionaire founder of Financial Samurai, a few details stood out.

First, this was his first show since 2012.

Dogen, 47, has been a retired stay-at-home dad since 2012. By 2023, passive income will reach approximately $380,000 With a mix of stocks, bonds, real estate and other investments, he sold most of his portfolio late last year to buy a new home and return to work.

He only stayed in his new job for four months. Has its own story — but it’s worth noting that he left so abruptly, going against one of his own advice: “Never quit,” Dogen said. “Get fired.”

Daoyuan did this more than ten years ago. He did not leave, but Planning layoffs That money earned him three months of base salary and a six-figure severance package, which, combined with his then-$80,000-a-year passive income, allowed him to retire early.

If you’re thinking about quitting your job, here are Dogen’s best tips for following in his footsteps.

How you decide to quit depends on your specific situation. For Dogen, 2012 marked the end of his career after 13 years in investment banking. He had built up enough passive income outside of his job to feel comfortable leaving, and he knew he wanted to.

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He also knows what kind of power he had as an employee when he left. “As a former boss, the worst thing that can happen is for a valuable employee to quit and give you two weeks’ notice or less,” he said.

Here’s how to use that power to achieve the departure you want.

Express your dissatisfaction

Dogen says to get things started by letting the right people know that you’re unhappy in your current position.

“You basically have to talk to HR or your immediate supervisor and say, ‘I’m not happy here and I want to make some changes,'” he said. “Ultimately, if those changes aren’t met, I’ll leave.”

Doing so creates a win-win situation, Dogen says, because your superiors are likely to be willing to meet your needs.

“They might give you a raise. They might give you more flexible hours. Great!” he said. “No employer wants to hire someone who’s distracted.”

Provide an easy transition

If your company can’t meet your requirements, redirect the conversation toward the possibility of you leaving while making your employer’s job easy.

“Let’s figure this out,” Dogen says, you might say. “I’m willing to stay as long as possible to help with the transition. But with that in mind, let’s talk about severance.”

After this conversation with his boss in 2012, Dogen stayed on for two months to train the junior employee and introduce him to his clients.

If you’re willing to do something like that, “your employer will often work with you — especially if you’re a better-than-average employee,” Dogen says.

Negotiating layoffs

Ask your company if it’s planning a round of layoffs and whether you can join in. Under the Worker Rights Notification Act, companies with 100 or more employees (less in some states) must give 60 days’ warning before conducting a mass layoff. In lieu of that warning, the company is expected to provide affected employees with compensation, usually equal to 60 days’ base pay.

In addition to the wages you may receive under the Workers and Unemployment Compensation Act, Dogen recommends further negotiating a severance package. “The standard is one to three weeks of pay for each year of service,” he said.

Dogen said negotiating layoffs (rather than resignations) is more than just a cash payment.

“If you get fired, you get unemployment benefits. You get severance, deferred compensation, health care. You get a lot of things that provide a huge financial boost for your next endeavor.”

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