Years ago, most professionals would pursue a single career path for the majority of their lives, But in today’s ever-changing world this notion has become something of a rarity. Statistics suggest that before we retire, we may have as many as ten jobs. That’s a scary thought because making a career change can be a traumatic experience, especially when we get older.
But the great thing about the job market today? It’s never too late, or to early, to follow your dreams – and make that change.
Reducing the Trauma of a Career Change
With any change comes challenges. Starting fresh in a new industry often means taking a significant pay cut while working longer hours. It may mean going back to school, or at least earning a new certificate.
Plus, as many Millennials have already learned: As you get older, you have more people depending on you – from coworkers and team members at work to partners, kids (and even dogs) at home. There are also more monthly payments (like a mortgage). And at the same time, there is less time to learn new things.
Even with all this pressures, commitments and considerations, making a career doesn’t have to be overly difficult. It does, though, require some smart financial planning, a long-term motivation, and a distinct passion for your new career choice.
Ready to make a career change? This infographic from Credit.com can help.
As you’ll see, there are several steps you can take to help ensure a smoother transition. For instance, building an emergency fund can help cover anything that may come up and also serve as a safety net for incidentals during the transition. You also need to consider your current debt level and create an accurate budget for the next phase of your career, and life. Once the financial issues are carefully reviewed you have to be ready to step into action. That means doing all the right research, learning how to sell yourself (and your accrued soft skills) to a new industry and company, and perhaps starting a side gig to bridge the gap between your old wages and new.
Yes, there’s a lot to take into account when you change careers – at any age. But making that transition is easier now than ever before!
So, what are you waiting for? Your dreams are waiting!