Now I’m Broke and My Wife is Not Happy

Each week I create a new online radio podcast – answering a few of the many questions we receive. Here are some of this week’s questions you can hear discussed on Dan’s Online Radio Show.

I began this podcast with a 15 minute tirade about MLM companies.  Yes, they are a hot potato issue – lots of negatives and some positives — but the real issue is whether the business model is a fit for you.  Listen for my explanations about how to evaluate any business idea.

And then these questions:

1.  Yesterday, my boss pulled me into her office and asked if I really disliked my job. I didn’t realize I was showing how much I hate this job. I was given the option of searching for a job while I work for a month, but I feel like this is rather risky.

2.  I’m a women over 50…how do I get my foot in the door once they see my resume and deduct that I’m at least over 40 and possibly 50? I’m in shape, take care of myself and could sell myself better in person …’s just getting that initial interview!!!!  

3.  Dan I’m a 45 year old male with 15 of experience as a web/graphic designer. I bought your book and one of your courses, got fired up cashed in my 401k and left my corporate job. Six months later I’m broke and don’t have any money to pay my bills. My wife is not happy and this is not the first time I try to go on my own. Now I dread just getting a job.   

4.  I am a bank vice president with an MBA in finance and years of experience. I am interested in teaching finance/business classes online. What steps do I take?

5.  Is it ever ok to quit a job without having another one lined up? I started a new job recently and dislike it intensely but have little time off to interview.

2 Responses to “Now I’m Broke and My Wife is Not Happy”

  1. parrott84 Says:

    To the guy who left his job without one lined up…ooops.

  2. (hidden) Says:

    #1 – what a great opportunity- to use the resources of your company while you look for other employment!

    #2 – no, no, no… turn it around. You’ve got a stable and mature work ethic that the young pups don’t have. You’d be a shoe-in for a LOT of jobs, particularly those involving scheduling and decision making; you know… the good paying ones!

    #3 – I am surprised that you haven’t been able to find web graphic design work. I’m going to assume that you are an expert in Adobe CS3, can work on Mac’s or WinTel boxes, and have both a print and web portfolio? If you do, head out to the local small businesses and offer to do up a web page (a single web page) for their business for $20. Then offer to host their single web page for $20/month. Then offer to get them an email address for another $20/month. Oh… maybe they’d want two email address, one for sales, one for questions (or some such). You should easily be able to get a $20 – $80 /month stream coming in. Then use a provider like GoDaddy. I’d guess a $50/month positive cash flow per business. OH… if you don’t know the CS3 suite or have both a print and web portfolio… well, you’ve got some work to do first! 🙂

    #4 – community colleges and online colleges such as Phoenix University are always looking for adjunct instructors. The pay isn’t fantastic, perhaps $500-700 / credit hour. The non-financial rewards are FANTASTIC! (I have a couple of masters degrees and have taught at community and other colleges for years.)

    #5 – start saving up money before you quit (see Dave Ramsey’s site about saving up money). Years ago I left a very high paying position in a great career without having another job lined up. My savings carried us along until I started a better career that paid even better than the one I left. Figure it will take you at least 2 months per every $10k of pay when you look for another job. For example, a $60k position will take you a year to find so you’ll need a year’s worth of savings. Also, if you have medical coverage through you current employer, check the COBRA rules before you leave… you’ll be shocked to find out how much medical coverage is even with COBRA!

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