3 Adjustments for a Career Transition

Apr 20 • Career Planning, Financial Planning, Life Planning • 1928 Views • No Comments on 3 Adjustments for a Career Transition

By Ashley Kopmeyer

In 2012, I made a career transition to part-time work as a project manager at KHC Wealth Management.  My infant son had special needs and the demands of my full-time job did not afford me the work/life balance that our family needed.  The reduction of income would negatively affect our finances, but my husband and I were willing to make the following lifestyle adjustments in order for me to spend more time taking care of the children:

Delaying Financial Goals: Saving less each month meant we would have to put off buying a new car (my husband’s is on its last leg) and moving to a larger house to accommodate our growing family.  We had to adjust our mindset about these items – they are wants, not needs.  Happily, I am still contributing to my firm’s 401(k) plan so our retirement goals have remained the same.

Shifting Household Responsibilities: When my husband I were both working full-time, we pretty much split the household responsibilities 50/50.  Now that I had more time at home, I took on the bulk of the cleaning, laundry, and shopping.  Unhappily, having a cleaning service every two weeks was not a luxury we could continue to afford with a lower monthly income.

Soliciting Help from Family:  Rather than send my son to daycare, we were fortunate that my in-laws stepped in and offered to watch him on the days I work.  This helped us in two ways – we didn’t have to pay for childcare and my child got to spend quality time with his grandparents.

With any life change comes trade-offs.  It’s important to consider all facets of such changes and decide for yourself if you are willing to make the necessary lifestyle adjustments.

For help during your specific transition, schedule a meeting by clicking below, contact Ashley Kopmeyer –akopmeyer@makinglifecount.com, or call (913) 345-1881.

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