Why you need an exit plan (if you work in tech)

Hey reader,

I’ve had so much fun connecting with you through my last newsletter about goals, and today I’m back with something exciting: let’s talk about why you need an exit plan if you work in tech.

Ready to dive in? Let’s go!

🤷‍♀️ Why an exit plan and what is that?

Working in tech is exciting, but it’s also veeeery unpredictable. Layoffs and burnouts can hit you when you least expect it. And then what? The average length of time it takes to find a job in product design is six months. SIX MONTHS! That’s one of the reasons why I think that having an exit plan is essential. An exit plan is essentially your strategy for transitioning out of your current role or career. It’s not quitting impulsively, but being prepared for whatever comes your way (I’m talking about you, dear AI!). And tech is one of the most dynamic industries where roles and skills that are in demand today might not be tomorrow. By keeping an exit plan, you’re staying one step ahead of the curve, ready to pivot! Last thing before I move on — loving your job doesn’t mean you can’t have an exit plan. The two can absolutely go hand in hand.

👋 How I’m gonna quit tech

I hadn’t really thought about having it until more recently, when I realised just how tough and competitive the tech industry is. I’m mainly talking about product design, but I think this applies to a lot of roles in tech. That’s when I started thinking about how I want to build my wealth and what skills I want to develop outside of UI and UX.

In terms of wealth, I’m currently working on a financial plan that will allow me to start taking dividends in 10 years. In the UK, the maximum you can invest into an ISA without paying capital gains tax is £20k per year, and that’s my goal for the next ten years regarding the stock market. While that won’t fully cover my monthly expenses (maybe half of them), I’m also looking into property as a way to replace my wage. It’s still pretty much a work in progress, but I’ll keep you updated as things slowly move forward.

Now, my big, BIG goal is to help people live more joyful and fulfilling lives. The skills I’m working on are entrepreneurship, sharing knowledge, and being a positive example for my community. To do this, I’m taking courses to learn how to manage my wealth, build a sustainable career, and leverage my design skills to make it all happen. I’d love this newsletter to be the starting point for all of this, so watch out this space!

🤝 Let’s make a deal

I know the idea of an exit plan can sound intimidating and overwhelming, but it really doesn’t have to be. Let’s make a deal: spend just one hour this week to start sketching out your exit plan. It doesn’t need to be perfect; it just needs to exist. Start by writing down your long-term goals (financial freedom, a career change, or something else entirely) and then think about the steps you can take to get there. Start small, maybe by looking into investment options or identifying skills you want to build. You don’t need to have all the answers right away. The key is to get the ball rolling. Trust me, your future self will thank you for taking that first step!

Any tips or exit plan stories? Feel free to share!

All the best,
Sara