- Honda and Nissan expected to begin merger talks
- 'Draconian' Vietnam internet law heightens free speech fears
- Israeli women mobilise against ultra-Orthodox military exemptions
- Asian markets track Wall St rally as US inflation eases rate worries
- Tens of thousands protest in Serbian capital over fatal train station accident
- Trump vows to 'stop transgender lunacy' as a top priority
- Daniels throws five TDs as Commanders down Eagles, Lions and Vikings win
- 'Who's next?': Misinformation and online threats after US CEO slaying
- Only 12 trucks delivered food, water in North Gaza Governorate since October: Oxfam
- Langers edge Tiger and son Charlie in PNC Championship playoff
- Explosive batsman Jacobs gets New Zealand call-up for Sri Lanka series
- Holders PSG edge through on penalties in French Cup
- Slovak PM Fico on surprise visit to Kremlin to talk gas deliveries
- Daniels throw five TDs as Commanders down Eagles
- Atalanta fight back to take top spot in Serie A, Roma hit five
- Mancini admits regrets over leaving Italy for Saudi Arabia
- Run machine Ayub shines as Pakistan sweep South Africa
- Slovak PM Fico on surprise visit to Kremlin
- Gaza rescuers say Israeli strikes kill 35
- 'Incredible' Liverpool must stay focused: Slot
- Maresca 'absolutely happy' as title-chasing Chelsea drop points in Everton draw
- Salah happy wherever career ends after inspiring Liverpool rout
- Three and easy as Dortmund move into Bundesliga top six
- Liverpool hit Spurs for six, Man Utd embarrassed by Bournemouth
- Netanyahu vows to act with 'force, determination' against Yemen's Huthis
- Mbappe back from 'bottom' as Real Madrid down Sevilla
- Ali hat-trick helps champions Ahly crush Belouizdad
- France kept on tenterhooks over new government
- Salah stars as rampant Liverpool hit Spurs for six
- Syria's new leader says all weapons to come under 'state control'
- 'Sonic 3' zips to top of N.America box office
- Rome's Trevi Fountain reopens to limited crowds
- Mbappe strikes as Real Madrid down Sevilla
- 'Nervous' Man Utd humiliated by Bournemouth
- Pope again condemns 'cruelty' of Israeli strikes on Gaza
- Lonely this Christmas: Vendee skippers in low-key celebrations on high seas
- Troubled Man Utd humiliated by Bournemouth
- 2 US pilots shot down over Red Sea in 'friendly fire' incident: military
- Man Utd embarrassed by Bournemouth, Chelsea held at Everton
- France awaits fourth government of the year
- Germany pledges security inquest into Christmas market attack
- Death toll in Brazil bus crash rises to 41
- Joshua bout only fight left for beaten Fury says promoter Hearn
- Odermatt stays hot to break Swiss World Cup wins record
- Neville says Rashford's career at Man Utd nearing 'inevitable ending'
- Syria's new leader vows not to negatively interfere in Lebanon
- Germany pledges security inquest after Christmas market attack
- Putin vows 'destruction' on Ukraine after Kazan drone attack
- Understated Usyk seeks recognition among boxing legends
- France awaits appointment of new government
Northwestern Mutual: How to Prepare for a Midlife Career Change
The middle of a person's life is typically a time of reflection, transition, and reinvention. By middle age, some people have spent decades building careers in a given field and years at the same workplace. Priorities tend to change-maybe someone has paid off their mortgage or watched their children leave for college. Career interests may change, too. A midlife career pivot can be a refreshing change, but it's not without risks. Some thoughtful preparations can lay the groundwork for a successful transition.
Review financial planning
A significant career change almost always accompanies a change in personal finances. Beginning a job in a new field might mean starting with a lower salary, fewer vacation days, or a different set of benefits. "To prepare for the financial changes, take inventory of expenses, factoring in essential costs and discretionary spending," says Jhakiri Brooke, financial advisor with Northwestern Mutual's Harlem office. "A financial advisor can help ease the transition by developing a revised budget, investment strategy, and updated savings goals to align with the new economic situation."
Assess skills and interests
A new career often begins with an honest evaluation of one's strengths and interests. Reflecting on the most-and least-fulfilling aspects of previous jobs can guide future career decisions. For example, an English teacher who has loved working with teenagers but did not enjoy grading papers may consider a job in a youth community center.
Additionally, a skills assessment can pinpoint areas for growth and reveal new opportunities that align with personal interests. An individual with excellent organizational skills may consider a new career as a librarian. Understanding these strengths and weaknesses is crucial in choosing a career path that leads to long-term satisfaction.
Consult a professional network
A solid professional network is a valuable resource during a career transition. "Colleagues, mentors, and industry contacts can offer insights into potential opportunities, industry trends, or even mentorship for navigating a new field," Brooks says. "A trusted network may provide leads on job openings, offer advice on the change, and open doors that someone might otherwise miss."
Establish a timeline
The thought of a sudden professional 180 will likely bring excitement, but it's important to take it slow by creating a clear, structured timeline with critical milestones to make the midlife career change more manageable. This plan should outline savings goals and necessary certifications or training for a new career, with deadlines for completing them.
The timeline should also include a goal date for beginning a new job. As that date draws nearer, the timeline might include milestones for completing applications and speaking with one's current employer. Breaking the process into smaller, achievable steps may ensure a smoother job shift.
Identify potential risks-and rewards
Understanding the risks associated with a career change can make them easier to manage. For example, if a person moves from a corporate job into a caring profession, they might change their retirement planning to accommodate a potential decrease in benefits.
Big changes should be handled carefully, especially when financial risk is involved. That's why it's important to keep the benefits of a midlife career change in mind, too. A new job may offer greater personal fulfillment, better work/life balance, or even a stimulating challenge to look forward to each day.
Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company (NM) and its subsidiaries in Milwaukee, WI.
Contact: Don Klein, 1-800-323-7033
SOURCE: Northwestern Mutual
O.M.Souza--AMWN