I wanted to share an interesting article about mid-career moves by Nanci Hellmich written in USA Today. The article is based on a survey conducted by USA Today and Life Reimagined.
When I set out to do career coaching in 2007, mid-career changers were my target market. Then the recession/depression hit and for those who had a job, the best advice was to hunker down and keep it. Now with the economy showing signs of sustained improvement, surveys are showing that many folks in their 40s and 50s would like to “downshift” and do a second career. What they look for in a second career is less stress, more family-life balance and a desire to do something more meaningful.
Their study shows that nearly a third of people in this age range (32%) have already shifted to a different career. Another 29% are interested in doing something different in the next five years while the others are still unknown. Many of these people are looking to take the skills they have developed in higher paying jobs to more meaningful jobs that allow flexibility. One of their best pieces of advice in the article is that if you are thinking about making a change, do so before you reach age, 55. You still could have many years if you choose or need to for financial reasons.
One piece of advice I didn’t see in the article is a critical one. Make sure you know your financial situation and work with CFP§ professional to complete a financial plan to understand what the career change means in helping you and your family achieving their goals.
Of course I love article like these because it makes me think I’m a trend setter, since I changed careers nine years ago for the vey reasons others are looking to do the same. It’s fun and fulfilling to help others in achieving their career and financial goals.
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