In part one we looked at the first three advantages to changing career at 50. Take a peek and make sure you don’t miss out!
4) The Kind of Personal Confidence That Only Comes With Maturity
I know you might not be feeling at all confident about making a career change, but that’s not what I’m talking about. There is a natural level of confidence that you don’t have to try to figure out once you get past 45. You start to really own who you are and that inner confidence comes across. Take a look at some of your long term friends and observe it. Even if they are dealing with issues and challenges (which they will be, we have them all through life) you will notice the areas where they naturally shine and don’t have to try anymore.
5) A Highly Developed set of Skills and Talents
Quite simply, you have spent a long time perfecting your skills and talents, whether you’ve been conscious of it or not. Your job now is to be aware of what they are, and make sure that in your future career you make the most of them.
6) Financial Cushioning
It is likely that at 50, you have more financial cushioning than you had at 30. This might be in the form of a long term savings plan, or equity in your house. Its a question I ask my clients, especially if they are considering self employment. Many people don’t have a particular goal for their savings and because they’ve always saved, they don’t even consider the pot they’ve built up as something that could help provide a cushion if needed. Even if you haven’t been saving, there’s a good chance you might have a few more pennies around now than you did at 30 and so you might be able to afford to put a savings plan in place, to help provide a safety net if you feel the lack of one is holding you back from making the leap. A career change at any age requires planning and foresight. I don’t suggest anyone blindly makes a leap into the unknown until you’ve thoroughly researched what you want to do, and made provisions in case replacing your income takes longer than expected.
I suggest that older clients take stock of their current financial situation with a reputable Independent Finance Advisor. They can help inform you more accurately than your best guess. They will advise you based on your attitude to risk (they will assess this with a questionnaire). Do bear in mind that an IFA’s primary focus is to guide your investments, pensions and mortgages, so be clear with your IFA at the outset what it is you want to get out of your meeting.
More and more people are re-examining their lives and looking for more meaning at work. I honour you if you are one of them. It takes courage and determination, and when you have done it, it is very likely that when you look back you will wonder why you didn’t do it before!
I hope I have offered you some appetizing information about the uniquely positive aspects that your age group enjoys. If you feel encouraged to explore changing your career, then do contact me for a free 40 minute evaluation of your situation where I can help you get clear about what you want and how to get there.