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by shoo 1541 days ago
I've taken time off work in the past (by resigning), and found it very helpful to stop my mind cycling through the same worn negative mental pathways caused by work related stress & my perception and emotion about that situation. From memory, after about a month of time off -- with plenty of time outside exercising, lots of discussions with friends and former colleagues, and no software development -- I felt completely different.

In my case it didn't lead to "career suicide", it accidentally led to me becoming aware of the market for contract engineers, so I went and did that for around three years for an effective 3x increase over my old salary, before negotiating a permie role with a salary anchored against my modest contract rate. The 3x jump is less amazing than it sounds as I was paid under market in my prior job.

Much of this outcome was not in my control or due to my skill or planning, it was simply a result of the labour market: there was a good market for software engineers, I had a few solid years of professional experience, I had some professional connections and reputation from working in the old job that let me easily get a different role in a related sector.

If I were in a similar situation in future, my advice would be:

* resigning immediately isn't necessarily the best move, even when you definitely do need to to move on from the current job. First take paid leave (if any remains) or unpaid leave (if that can be negotiated). Then you have a stronger position when negotiating the terms of a new role. But if the market is good and you can get multiple competing offers, maybe that doesn't matter so much.

* recognise how I am feeling and take action to improve or change the situation earlier. Being passive and letting things get worse can impact mental health, which can reduce your motivation to improve the situation and ability plan and execute reasonable decisions.

* in the longer term, you achieve financial independence when you have an investment portfolio with an expected return that covers your baseline living expenses. If you have saved and invested roughly 25x your baseline living expenses into equities, then you are free, things go nonlinear, phase transition, you have achieved escape velocity for infinite sabbatical. Spending accumulated savings to live for 1-3 months without income might be a great short-term move to let you get healthy and explore the next steps for your career or life. Spending accumulated savings to live for a longer time without income might set you back in the longer run and have less upside.

1 comments

mind discussing a bit more about how you started doing contract work? I'm very interested in this, but unsure how to make it into a reliable source of income
In some IT / professional services labour markets in Australia & the UK, contract work is quite well established. Many organisations advertise contract roles on their websites or local job aggregators -- typically get quite a lot of large private enterprises (banks, telcos, ...) who need people with specific skillsets right now for 3 months or 12 months to keep projects on schedule. Sometimes there are also public sector contracts. So often you can point your browser to the biggest local job search website, switch the mode to contract/temp & query for an interesting keyword.

Some recruiters also run agency businesses where after successfully matching you to work at a contract for a client , they handle stuff like invoicing, in return for taking their own (perhaps quite large) cut on top of your agreed daily contract rate. This can be an easy way to get started since they sort out some stuff for you, but there's more potential profit if you learn how to operate without relying on this.

There can be legal issues where it is unclear if a worker should be classified as a contractor or an employee, which could result in the worker paying more or less tax, or the employer being liable to give additional benefits to contractors who are actually deemed as functioning as employees, or so on. Another thing to think about is insurance & liability -- if a client pays you $10 to write some code, and your code has a defect and causes the client $1b in losses to their business, can they sue you for $1b? $10? etc.