An early retiree and self-made multimillionaire advises against quitting your job and suggests an alternative action.

Earlier this year, Sam Dogen quit his job.

The founder of Financial Samurai, a millionaire, has a few notable details.

For one, it was his first gig since 2012.

Since 2012, Dogen, 47, has been a stay-at-home dad and has increased his annual passive income to about $380,000 through a combination of stocks, bonds, real estate, and other investments. However, he recently returned to work after selling a significant portion of his portfolio to purchase a new home.

Dogen advised "Never quit your job," but he left his new gig after only four months, which is worth noting.

Dogen, more than a decade ago, instead of leaving, he strategically orchestrated a layoff that resulted in three months of his base salary and a substantial severance check. With the additional $80,000 in passive income he was earning at the time, he was able to smoothly transition into early retirement.

If you're considering leaving your job, Dogen's best advice is to follow his footsteps.

How to negotiate a layoff when you leave your job

The way you handle leaving your job will depend on your unique situation. For Dogen, 2012 was the turning point after 13 years in investment banking. He had accumulated enough passive income to feel secure and decided it was time to move on.

Financial wellness leads to happiness, wealth, and financial security.

"As a former boss, the worst thing that can happen is when a valuable employee resigns and gives you less than two weeks' notice," he says.

Here's how to leverage that power into the job departure you want.

Communicate your unhappiness

Dogen advises to initiate the process of finding a new role by informing the appropriate individuals about your dissatisfaction with your current position.

"Ultimately, if these changes are not met, I'd like to leave and would need to speak with HR or my direct supervisor about my dissatisfaction."

Dogen believes that there's a possibility that your superiors will accommodate your requirements if you present them with a win-win situation.

"They may offer you a salary increase or more flexible work hours. Great!" he exclaims. "Employers value employees who are passionate and committed."

Offer to ease the transition

If your company is unable to fulfill your demands, consider discussing the possibility of leaving while making the transition as smooth as possible for your employer.

"Dogen suggests discussing a severance package, stating that you are willing to stay as long as necessary to facilitate the transition."

In 2012, Dogen remained with his boss for two months after their conversation, during which he trained his junior hire and introduced him to his clients.

Dogen says that employers usually work with employees, especially if they are above average.

Negotiate a layoff

Can you confirm if your company is planning on conducting a mass layoff and if I can be included? Under the WARN Act, companies with 100 or more employees (fewer in some states) must provide 60 days' notice before conducting a mass layoff. Alternatively, firms must compensate affected employees with 60 days of base pay.

Dogen advises negotiating for a severance payment in addition to any WARN Act pay, stating that the standard is one to three weeks of pay for every year served.

Dogen believes that negotiating a layoff involves more than just receiving a financial settlement.

"If you lose your job, you receive unemployment benefits, a severance package, deferred compensation, and subsidized healthcare. This provides you with a significant financial cushion for your next venture."

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