Money fix: Quitting job rashly can cost you dearly

How many working stiffs were enthralled a couple of weeks back when a frustrated JetBlue flight attendant issued his parting words to passengers on the public address system and slid down the airplane's emergency chute?

Such a yearning to depart an unpleasant job is "a running theme" with some clients, said Michael Kresh, a certified financial planner in Islandia. His thinking on this struggle between emotions and economics: Bailing out can cost you dearly in the long run.

Plan: "In order to take the risk, you have to plan for an exit strategy," he says, which does diminish the prospects for spontaneity. Have you saved at least nine months of living expenses? How long do you think it will take to find another job in this difficult market? Remember, people who quit are not entitled to unemployment benefits. And people who quit dramatically are unlikely to get job references.

Surprises: Expect a big jump in health insurance costs if you walk away. It's likely your employer has been subsidizing those monthly premiums, and you'll now be footing the whole bill. You also may have to forfeit the "use-it-or-lose-it" money still in your flexible spending account. Learn more about these and other issues in "Quit Your Job the Smart Way," in Kiplinger.com's "Starting Out" column.

Emotions: Kresh says many clients nearing retirement struggle with the issue. One woman opted for early retirement from a job she hated, even though, had she stayed 18 months more, she would have been vested in the pension. That would have increased her monthly payments by 300 percent, but when it came to leaving, "I couldn't talk her out of it," he says.