How Quiet Quitting Can Help You Pursue Your FIRE Goals

Enter the latest workplace buzzword – quiet quitting. Not only has the Covid-19 pandemic disrupted everyone’s lives with lockdowns and restrictions, it has also led many to rethink their work lives. After The Great Resignation wave, we’re seeing a new trend of quiet quitting.

What is quiet quitting?

For the uninitiated, quiet quitting is a new buzzy term that went viral because of TikTok. While it doesn’t mean that one has officially resigned from his or her position at work, it means that the person no longer subscribes to the hustle culture mindset. Instead, this person only does the bare minimum to get the job done.

Why did the trend of quiet quitting go viral?

Work life will never be the same again in a post-pandemic world. With the Covid-19 pandemic causing a global work-from-home experiment, employees have since recognised the importance of having more personal time, instead of spending all their time on work.

Furthermore, burnout is a very real issue that can result in overworking and deterioration of mental health. In fact, Mercer’s 2022 Global Talent Trends Study revealed that Singaporeans are the most de-energised employees in Asia. However, with the rising cost of living and inflation, many may still feel compelled to stay in their jobs for financial stability. On the other hand, their burnout results in them doing just the bare minimum – thus the term ‘quiet quitting’.

How quiet quitting can help you achieve your FIRE goals

While working minimally may feel like a foreign concept, you and your employer should not fear quiet quitting. On the flipside, it could be beneficial for you. Before you baulk, hear us out.

Here are five advantages of quiet quitting so you can pursue your Financial Independence, Retire Early (FIRE) goals.

1. More physical health and mental bandwidth for other income-generating efforts

The consequences of poor work-life balance can be detrimental to one’s mental health. When one attaches his or her own worth too closely to work, it can also be physically unhealthy. Needless to say, overworking takes up your mental bandwidth. This is where quiet quitting comes into play — an attempt to restore your work life balance so that work does not fully occupy your personal time.

With more personal time, your well-being gets a boost and you can enjoy the things that you love and even preserve mental bandwidth for additional income-generating efforts, on top of your day job.

Read more: 8 tips to boost your mental health

2. Diversify your income streams

Instead of investing all your time and energy into your job hoping for a promotion and pay raise, concentrating on other income streams that you enjoy doing can help you be a step closer to your FIRE goals.

If you have a skill or a passion project, why not take this time to monetise it? With so many easy side hustle ideas, you can build your portfolio while making use of your free time to earn some extra income.

Complement your income-generating efforts with the right investment strategy, so you can achieve your FIRE goals sooner. Here is how you can create your investment strategy.

Read more: Investing 101: What You Should Look Out for As A Beginner Investor

3. Higher productivity

Sticking to working hours can result in happier employees. Research has revealed that happier employees tend to be more engaged and productive. When employees feel happy, they tend to be more open and friendly, forging workplace friendships and work enjoyment. As a result, employees may even feel increasingly loyal to a workplace and see greater productivity.

Furthermore, knowing how to be a quiet quitter means that you do not overwork your mind and body. With improved overall productivity, you can have more pockets of time to pursue your side hustles.

4. Improved quality of work

The dangers of burnout are often overlooked. If you are working too hard, you risk suffering from burnout, which can result in long-term mental, emotional, and physical health impacts. Of course, your quality of work will also suffer. Quiet quitting can help you better balance your personal and work lives and protect you against burnout. When you are in a better state of mind, your quality of work will improve as well.

5. Additional time to upskill yourself

Other than working on your passion projects, you also have additional time to pick up new skills. Furthermore, if you are a Singaporean aged 25 and above, you can even make use of your SkillsFuture credits to take up courses you are interested in.

This could particularly help if you are entertaining the idea of a mid-career switch, or looking to acquire more skills to bring more to the table and convince your employee you’re worthy of a pay adjustment. Additionally, you can also start new side hustles and generate a bit more income.

Read more: 7 unmistakable signs it’s time for a mid-career change

To be a quiet quitter or not?

Think of quiet quitting with a less controversial definition. It can be that maintaining healthy boundaries at work will free up more of your time and energy to grow your financial nest egg, instead of concentrating solely on one career path that could diverge without warning.

It is never a good idea to disengage entirely from your work. After all, you should still be proud of your work contributions and take pride in the work that you have done. However, knowing how to “quiet quit” in a healthy way such that you strike better work-life balance could reap beneficial financial benefits.

In a nutshell, we think that it is possible to remain invested emotionally at work, yet keep healthy boundaries to feel empowered to take control of your personal and work life.

What do you think? Let us know at ask@plannerbee.co!

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