Ultimate 'Quit Your Job' Financial Checklist: 20 Essential Steps

Standard 3-month funds are often insufficient during career shifts. Aim for 6–12 months of expenses to account for healthcare premiums and inflation.

Use a budgeting app to track every dollar from the past six months to establish your 'survival' baseline budget.

Research the ACA Marketplace or COBRA options early; ensure you have a plan for potential premium spikes or subsidy changes.

FSA funds typically do not roll over when you quit. Spend your remaining balance on eligible medical supplies before your last day.

Check your employer's stock and 401(k) match vesting schedules; leaving just days before a milestone could cost thousands.

Front-load your retirement contributions while you still have a steady paycheck to lower your taxable income for the year.

Ensure your tax filings are accurate and any refunds are funneled directly into your transition fund.

It is significantly harder to get approved for a mortgage or credit card without active income; secure needed credit lines now.

Utilize your current employer-sponsored dental, vision, and health insurance for all routine appointments before your coverage ends.

Eliminate credit card balances or variable-rate loans to reduce your fixed monthly obligations during unemployment.

Decide whether to move your funds to an IRA or your new employer's plan to avoid maintenance fees on old accounts.

Review and update beneficiaries on all accounts before leaving to ensure your estate plan remains current.

If you plan to use insurance subsidies, be aware that a high total annual income could lead to a tax bill at year-end.

Spend any accrued transit passes, gym reimbursements, or wellness stipends that do not pay out in cash.

Ensure all bonuses and prorated commissions are documented and paid out according to your employment contract.

If transitioning to freelance, set aside 20-30% of projected earnings for self-employment taxes and quarterly payments.

Confirm if your employer requires payout of unused PTO. If not, schedule your leave before submitting your notice.

Determine if your current life or disability insurance is portable. If not, secure a private policy before you lose group coverage.

Legally download non-proprietary performance reviews and project data to support your future job search.

Choose a date that maximizes your health insurance (often the first day of the month) to get the full month of coverage.