Plan to Quit As Soon As You Start Working!

It was when my seven-year-old son declared that he wanted to be a fruit seller that I realised that the …. er … apple has not fallen far from the tree! Yes, I too had similar aspirations and I nurtured it for years until I heard the plight of a pharmacist. In this post, I discuss why we all need a plan to quit, as soon as we start working.

This was first published a few months ago when my second book was about to be published. I thought the titular topic is worth a revisit.

The pharmacist told me that his was a 7 x 12-hour job. He could not step out of the shop or even take a holiday because there was no one trustworthy to take care of the shop. My friends family had a grocery shop and after college, he took over the business – just as his father did and his grandpa did. My friend’s plight is not very different from that of the pharmacy owner or any small shop owner.

Aside from the presence of a regular salary and paid holidays (like weekends!), there is not much of a difference from such shop owner and salaried employees. Unless we have a plan to become financially free, we are trapped in our jobs.

Many people confuse income with productivity. I can offer a service or even pursue a creative endeavour with worrying about putting food on the table (among other expenses). Initially yes, income depends on the work that we do.

plan to quit 650x517 - Plan to Quit As Soon As You Start Working!

We need a plan to systematically free our income from our skill-set and the services that we are capable of.

Even if liabilities like home loans slow down this process it is more than possible. As mentioned in yesterday’s post, most 30-somethings suddenly recognise the need for an income that keeps pace with inflation after retirement (aka inflation-protected income). A 35-year-old with a home loan taking control of his/her finances can strive to become financially independent in 15 years. That is quite an achievement. There is no need to worry “I started investing Late, Can I Catch Up?” Of course, you can.

We made this slide show as part of the Gamechanger promo.

This week’s Q & A

Due to the release of the robo advisory template, the questions last week were mostly about it. So the few other questions are discussed below. If you have a generic question on finance, you can use the form below.

Sampath: Hello Sir, What is your opinion about ‘Focus’ mutual funds which invest in only limited stocks? Example: JM Core 11, DSPBR Focus 25

Pattu: I don’t see any need for such funds. Instead, I will try and ‘focus’ on building a diversified portfolio using funds that have a clear market cap mandate or a clear sectoral mandate: Building a Diversified Equity Portfolio with Sector Mutual Funds

Sridhar C: Dear Prof, Curious to know if the AMC representatives have any say/influence in the corporate decisions taken by the board? Whats their role in the AGMs. Does SEBI say anything in this regard. Thanks.

Pattu: A mutual fund house is created by a “sponsor” who appoints a board of trustees after SEBI approval. The Trustee are expected to protect unit holder interests. Corporate decisions are taken by the sponsors which are monitored by the trustees. I hope I have answered your question at least in part.

Venkateswara Rao Pothina: Dear Sir, I have recently come across this site and started reading various articles. I am 56 years old and wants to plan for my retirement with additional investment in equity based mutual funds. I already have investments in tax free bonds, PPF, and bank FDs, and looking for mutual funds that provide consistent decent returns on risk adjusted basis. My concern is: “Will investing in mutual funds now work negatively for me as there is a view that equity markets are in highs not commensurate with real state of Indian economy and thus are more prone for downside risk?” Best regards, P V Rao

Pattu: Equity market are always subject to downside risk. Only invest a small portion of your portfolio and that too a sum that you will not touch for several years. I would suggest that either seek professional help from my list of fee-only financial planners or use the  Freefincal Robo Advisory Software Template to test th health of your finance before investing.

 Karthik: These are the advantages of investing directly in stocks or through a PMS : a) Relatively good-quality stocks with small market capitalization or low free float can be invested in.Usually, mutual funds with their large corpus size don’t have access to such shares. b) These are individual portfolios. Hence, one’s portfolio return does not get impacted by cash flows from other investors. What do you think about these advantages vis a vis investing through mutual funds?

Pattu: If you can find a trust PMS fund manager then it can be used to your advantage. If ….

Use this form to ask Questions or reg. the robo template ONLY (For comments/opinions, use the form at the bottom)

And I will respond to them in the next few days. I welcome tough questions. Please do not ask for investment advice. Before asking, please search the site if the issue has already been discussed. Thank you.  PLEASE DO NOT POST COMMENTS WITH THIS FORM it is for questions only.

GameChanger– Forget Startups, Join Corporate & Live The Rich Life You want

My second book, Gamechanger: Forget Start-ups, Join Corporate and Still Live the Rich Life you wantco-authored with Pranav Surya is now available at Amazon as paperback (₹ 199) and Kindle (free in unlimited or ₹ 99 – you could read with their free app on PC/tablet/mobile, no Kindle necessary).

It is a book that tells you how to travel anywhere on a budget (eg. to Europe at 50% lower costs) and specific investment advice for young earners.

GameChanger review 4 650x477 - Plan to Quit As Soon As You Start Working! both covers 650x467 - Plan to Quit As Soon As You Start Working!

The ultimate guide to travel by Pranav Surya is a deep dive analysis into vacation planning, finding cheap flights, budget accommodation, what to do when travelling, how travelling slowly is better financially and psychologically with links to the web pages and hand-holding at every step.  Get the pdf for ₹199 (instant download)

You can Be Rich Too with Goal-Based Investing 

My first book with PV Subramanyam helps you ask the risk questions about money, seek simple solutions and find your own personalised answers with nine online calculator modules.

mini Final cover - Plan to Quit As Soon As You Start Working!

You can be rich too Review1 650x254 - Plan to Quit As Soon As You Start Working!

The book is available at:

Amazon Hardcover Rs. 271. 32% OFF

Infibeam Now just Rs. 270  32% OFF. If you use a mobikwik wallet, and purchase via infibeam, you can get up to 100% cashback!!

Flipkart Rs. 279. 30% off

Kindle at (Rs.271) Read with free app

Google PlayRs. 271 Read on your PC/Tablet/Mobile

Now in Hindi!

Hindi You can be rich too - Plan to Quit As Soon As You Start Working!

Order the Hindi version via this link


Want to conduct a sales-free "basics of money management" session in your office?
I conduct free seminars to employees or societies. Only the very basics and getting-started steps are discussed (no scary math):For example: How to define financial goals, how to save tax with a clear goal in mind; How to use a credit card for maximum benefit; When to buy a house; How to start investing; how to invest for and after retirement etc. depending on the audience. If you are interested, you can contact me: freefincal [at] Gmail [dot] com. You need to only cover my travel fare for the session.

Connect with us on social media

Do check out my books

You Can Be Rich Too with Goal-Based InvestingYou can be rich 243x300 - Plan to Quit As Soon As You Start Working!

My first book is now available at a 35% discount for Rs. 258. It comes with nine online calculators.  Get it now .  The Kindle edition is only Rs. 199.

Gamechanger: Forget Startups, Join Corporate & Still Live the Rich Life You Want

Cover pink - Plan to Quit As Soon As You Start Working!
My second book is now only Rs 199 (Kindle Rs. 99) Get it or gift it to a young earner

The ultimate guide to travel by Pranav Surya

Travel-Training-Kit-Cover This is a deep dive analysis into vacation planning, finding cheap flights, budget accommodation, what to do when travelling, how travelling slowly is better financially and psychologically with links to the web pages and hand-holding at every step.   Get the pdf for ₹199 (instant download)

Create a "from start to finish" financial plan with this free robo advisory software template

Free Apps for your Android Phone

All calculators from our book, “You can be Rich Too” are now available on Google Play!
Install Financial Freedom App! (Google Play Store)
Install Freefincal Retirement Planner App! (Google Play Store)
Find out if you have enough to say "FU" to your employer (Google Play Store)

About Freefincal

Freefincal has open-source, comprehensive Excel spreadsheets, tools, analysis and unbiased, conflict of interest-free commentary on different aspects of personal finance and investing. If you find the content useful, please consider supporting us by (1) sharing our articles and (2) disabling ad-blockers for our site if you are using one. We do not accept sponsored posts, links or guest posts request from content writers and agencies.

Blog Comment Policy

Your thoughts are vital to the health of this blog and are the driving force behind the analysis and calculators that you see here. We welcome criticism and differing opinions. I will do my very best to respond to all comments asap. Please do not include hyperlinks or email ids in the comment body. Such comments will be moderated and I reserve the right to delete the entire comment or remove the links before approving them.

2 thoughts on “Plan to Quit As Soon As You Start Working!

Your feedback is valuable. Do let us know what you think about the article and help us improve