In today’s fast-paced world, it’s not uncommon to think about changing careers. It can be exciting and a little scary!
Remember the dreams you had as a kid, the lessons in school, and your first job? All of these helped you start your career. But now, if you’re feeling like a change is needed, it’s okay to wonder: “Is this the right move? Can I do it? Do I want to start over?” And if you’ve lost a job, you might be thinking: “What’s next?”
Here’s the deal. Whether you’re a man or a woman, young or a bit older, the first thing to do is think about why you want a change. People today often think about new jobs because:
They want a better work-life balance.
They’re looking for a new challenge.
They want to earn more.
They’re moving to a new place.
They’re feeling tired or burnt out.
Thinking about a switch? Cool! Here are some things to think about:
Considerations
Know your why: Burned out or bored? Stagnant? Is your passion elsewhere? Know how to address this during interviews.
Under your nose: Could a new job in your current field or company provide what you’re looking for? If not, understand what you’d be giving up.
Going solo: If being the boss is the goal, remember there’s a lot to starting a business. Be sure your idea is solid and pursue financing. Try building clientele before leaving your current job.
Logic versus emotion: Are you making a hasty decision? Take time to discuss with your family and financial advisor.
Skills and interest: Do you have the chops and enthusiasm for your dream job? A temporary or volunteer position could provide the answers.
Money: How will your finances be impacted in the short and long term? Crunch the numbers and reach out to your advisor for perspective.
Preparation
Ducks in a row: Even positive transitions can bring stress. Take time to get organized and ask your advisor to help you navigate any income changes.
Seek input: Find a mentor or career coach in your chosen field.
Someone else’s idea: Is your change involuntary? Assess your financial needs immediately and negotiate severance if that’s an option.
Roll wisely: Make a plan for your employer-sponsored retirement accounts and benefits. It may be wise, to consolidate your accounts.
Whether it’s your own leap or an unexpected nudge, a career change can be as stressful or fluid as you choose. With solid guidance and planning, the future can look rewarding and bright.
This commentary on this website reflects the personal opinions, viewpoints and analyses of the Sweet Financial Partners, LLC employees providing such comments, and should not be regarded as a description of advisory services provided by Sweet Financial Partners, LLC or performance returns of any Sweet Financial Partners, LLC client. The views reflected in the commentary are subject to change at any time without notice. Nothing on this website constitutes investment advice, performance data or any recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. Sweet Financial Partners, LLC manages its clients’ accounts using a variety of investment techniques and strategies, which are not necessarily discussed in the commentary. Investments in securities involve the risk of loss. Past performance is no guarantee of future results.