This post helps prepare you before changing careers midlife by asking five necessary and essential questions before you make that first move.
Retiring in your current career is slowly fading away.
You are not as excited or enthusiastic about staying on the same path for another 20 years.
Yet, the thought of you dropping 15+ years of your hard work and dedication to this career makes you consider settling and sticking it out.
But settling may not last long. According to a career-changing survey by Indeed, 49% of the workers surveyed have made a complete career pivot.
And the average age of the workers in this survey changing careers in midlife is 39.
So you are not alone in having these unsettling feelings of wanting more out of your career.
But before you take your first step of making a midlife career change, make sure you feel confident in your choice and prepared for the ups and downs of changing careers at 40.
Trust me.
I have experienced several career pivots in my life, and this one at midlife has been the most challenging- yet most rewarding.
And so, with so many steps ahead of your career-changing journey, asking yourself these five essential questions will help you feel good about your decision and ready to take whatever comes next.
1. Why are you Changing Careers Midlife?
Take your time to really think about this first question by creating some space between you and your work. If you can afford to take a day off, plan for a day without any distractions and to let this question sink in.
You want to make sure it is your career and what you do for a living that causing your dissatisfaction in life. Rather than the company or team you work with. Changing companies is way less disruptive than changing your career and starting all over again (more on that a little bit further down).
Getting super clear on why you are leaving your career to pursue a brand new career will be the cornerstone of your career-changing journey.
Identifying what sparked the change of heart and defining what you want to achieve next will be the repeating mantra you will use to stay motivated and focused throughout this life-altering process.
Step 1; Identifying your Change of Heart
Common reasons for a change of heart with your career:
- Life priorities have changed. You have new obligations in your life.
- Change in the industry or role is no longer relevant.
- You no longer feel challenged or care to learn more.
- Your personality no longer aligns with the part.
Step 2; Defining your Core Values
Your core values represent the highest priorities in your life and become the center of why you take action and how you behave and show up in the world.
Think of your core values as the guiding light you will use throughout this journey.
Your core values will become your benchmark when making decisions throughout this journey, big or small.
List out your top 3-5 core values.
I would suggest sticking closer to three core values to help keep your priorities and actions focused. If you need help to find the right words to describe your core values, here is a link to a core values list.
2. What are You willing to Sacrifice?
A career change in midlife can come at a higher price than a change in your twenties or thirties. The price you pay will show up as sacrifices in your personal life.
- A change in lifestyle, by cutting back on expenses and disposable income.
- Less free time for yourself and your family. You will be dedicating your time learning, studying, and networking
- Friendships and close relationships may be at stake. You may need to distance yourself from old co-workers or family members who don't agree or understand your decision on making a career change.
3. Are you Ready to be a Student Again?
Early in their career, a person may still carry a student mindset and is humble enough to admit they are still learning the ropes.
However, midlife career professionals have already experienced multiple promotions and have become an expert in their field. And more than likely responsible for managing and training others to become future experts themselves.
It may be difficult for seasoned or well-advanced professionals to take a step back to become a student again.
It's time to check your ego at the door and developing a growth mindset.
You will become a student again and might have to return to school or earn a certification to add to your career-changing resume.
But the good news is that you aren't starting from scratch!
You have the motivation, work life experience, and transferable skills to help you speed through this stage in your career changing journey.
4. Are you Financially prepared for a Career Change?
One of the sacrifices I mentioned earlier was a lifestyle change, mainly your income.
If you are making a career change to earn more money, I hope you don't expect that income boost anytime soon.
You are better off starting a side hustle, asking for a raise, or interviewing with a new company to earn more money in a shorter timeframe, as opposed to starting your career all over again and having to work your way up.
I should know.
I am far from my six-figure salary as a fashion buyer compared to the freelance writing projects I earn now. But it was the sacrifice I was willing to pay, but I use my previous salary as a goal to work towards and beyond.
So be prepared to make some adjustments to your lifestyle and budget.
3 Top Apps to help Budget your Career Change
Here are three top-budget apps, according to Nerd Wallet:
PocketGaurd, an app that connects with your checking, savings, and credit card accounts. The app can detect recurring bills and income and automatically categorize the activities within your accounts to keep track of your spending.
Mint by Intuit
Mint by Intuit, will help keep track of your financial accounts and categorize your spending, so if you overspend in a specific category- Mint will send an alert.
Every dollar is an app based on the zero-budget methodology, where expenses match your income. Download the app for free at the Google Play or Apple App Store.
5. A Full Career Change or Something on the Side?
Who says you have to make a complete career change?
Start a passion project, side business, or gig instead of completely abandoning your entire career.
When I was laid off in early 2020, I started this blog as a side project without even considering transitioning from a retail buyer to a content writer.
It took some time for me to feel confident with changing careers at 40.
And while I was deciding on what to do next, I was working on developing my writing skills and providing fashion retail consulting on the side.
Over time, I reevaluated my values and priorities and decided to become a writer was the right move for me.
The perfect definition of a career pivot is having one foot planted in your old career as you take another step towards your new one.
Are you on a career changing journey? Don't miss out on the weekly articles I publish about the steps and tips on how to make a successful career change at midlife.
