Your work-life satisfaction is correlated with how happy you are at work. Your health may be impacted in ways you may not recognize if you are not happy at work. Around two-thirds of workers have experienced workplace burnout.
According to the American Psychological Association, work-related stress is connected to heart disease, high blood pressure, back troubles, issues with the musculoskeletal system in the upper extremities, and other health concerns. Working in a profession you enjoy is necessary if you want to put your health and happiness first.
Career transitions in your forties can help you find happiness and reduce overall stress in your new career. Perhaps you’ve always had a passion for something, or you’ve changed your mind about the career path you thought you wanted to take after graduation.
These factors contribute to the growing number of workers experiencing a mid-career crisis and seeking a midlife career shift.
Is it reasonable to consider a midlife career change?
Between the ages of 18 and 40, baby Boomers held an average of 11.7 occupations, according to research by the Bureau of Labor Statistics. Career switching is a typical occurrence among millennials.
According to NBC News, 64% of workers embrace job hopping, while 75% of workers aged 34 and younger believe it can help their careers. Determine the cause of your mid-career crisis. Before quitting and looking for new employment, you should consider your mid-career turmoil and dissatisfaction with your current position. Despite the wage boost, even if you love your industry, you can find that getting promoted to management wasn’t the best decision.
It’s possible that you would instead carry out creative things than supervise others executing them.
If so, you might be willing to move lower on the corporate ladder. While making significant changes, think about moving cautiously.
Consider opening an Etsy shop or making a website to sell your goods if you work in marketing but long to do something more hands-on and creative.
Spend your weekends and evenings working on this until you are sure it is financially feasible and personally satisfying. Additionally, there are tactics you may use in your present position to make sure your upcoming career change is effective.
Think of your years of experience as a benefit rather than a hindrance at every stage of your professional change.
Even if your future career is unrelated to what you were doing before, your experience is still necessary and can guide you in that direction.
Tips to follow when considering a mid-life career change
Almost all of us will reach a point in our careers when entrepreneurship becomes a strong temptation. There are several stories of people who began from “scratch” and developed “empires.” However, it is frequently stated that there is an appropriate age for anything, including entrepreneurship. When you’ve decided to change careers, follow this road map to reduce disruptions while transitioning into a new role in a business industry.
1. Keep patience
Entrepreneurship is a systematic process. You should start with detailed research of your passion, personality, talents, and inner motivation to create a business. The big question: Why are you starting this business? Why are you here? And why is this happening now? Prepare to learn what it takes to make your dream a reality. That includes calling for assistance, studying, and getting beneath the hood of what it will take to achieve this properly in terms of time and money.
2. Educate yourself about the new career
Research to better understand the business world, how it differs from your current professional path, and how you might position yourself for success. Be precise and look for materials in the business field you’re interested in to learn how it operates and the jargon. Online trade associations and networking groups are examples of such resources.
3. Show your entrepreneurial spirit.
Using your entrepreneurial spirit to demonstrate your interest in a business professional can go a long way. You may have worked on the side to develop a home-based business based on your interests.
Even if you’ve always worked in a corporate or traditional business environment, you can demonstrate that you’re an “intrapreneur” at heart by taking an entrepreneurial approach to your profession through leadership roles, new initiatives, or company programs.
4. Make use of your alumni network.
You never know who an alumni organization at your college or institution, or even an alumni group at one of your former workplaces, can bring you clients or help you expand your business. Your alma mater’s career assistance center may have resources for midlife entrepreneurs, such as an incubator on campus or continuing education seminars for career changers and entrepreneurs that are available online or through weekend workshops. You could develop a connection with existing students who can help.
5. Increase your network
Refrain from launching an entirely new network just because you are changing directions. Tell your close friends and confidantes about moving, and let them know what you’re searching for.
Begin attending networking events in the industry you want to enter. Use your elevator pitch in class, chatting with friends, etc. Even if it seems like a jump, make sure everyone knows what kind of job you’re looking for and how it logically aligns with your prior experience.
6. Protect your money
You shouldn’t have to worry about money as you concentrate on switching to a new career. Make sure you have extra funds saved up so you can survive if you decide to quit your work and devote all of your time to looking for a new career. Having at least nine months’ worth of expenses saved is preferable. You should also assess your current budget and expenditures if you’re going through a mid-career crisis and consider switching to a career that will pay less.
7. Talk to your partner
Discuss your ambitions, financial condition with your partner, and spending habits if you need to earn a specific amount to pay your mortgage or fund your children’s extracurricular activities. You can decide it’s best to put more time into studying while working part-time or staying home to further your education.
In some situations, a change in your employment may indicate that it’s time to reduce your house or relocate to a less expensive area of the country. You’ll need to be open and honest with your family about your mid-career crisis, how your present job is affecting you, and how making a career change will eventually be in your family’s best interests, even if it means making less money right away.
You can adjust your spending patterns to fit your change if you are single. If you have unpaid debts that should be paid immediately, pay them quickly. You can consolidate your debts or enroll in a debt management program for help. You can also ask your partner to manage the debts or bill payments while you need to concentrate on your career change.
8. Pay attention to small-business assistance.
The business assistance in your community can be a great source of mentors and consultants. Find a local nonprofit organization that teaches entrepreneurs and essential factors of starting a business. Include any necessary skills and certifications for your new venture. Take a salesmanship or public speaking class at your local community college. Improve your public speaking and communication skills. You need to be able to sell your idea.
9. Think about the retirement
You might need help with what to do with your 401(k) after leaving your work (k). If you have invested more than $5,000 in it, you may leave it where it is independent of your employment.
Additionally, you can transfer your 401(k) to an IRA or a new employer’s 401(k). The best course of action for you to take should be discussed with your financial advisor.
10. Improve your physical fitness.
I don’t mean running fast miles, but instead walking a mile or two every day and swimming a few times a week. Consume healthy food. It shows in your career and life when you’re in good shape. It gives you the endurance and energy needed to meet new difficulties. You’ll be mentally sharper, feel better, and have a can-do attitude. People will want to be near you and collaborate with you.
Successful people usually have a flexible time horizon for their ventures and don’t take any risks. If necessary, they add the essential skills and degrees before taking the plunge. They frequently train or volunteer first. But at the center of all their efforts is a desire to make a difference in the world, pursue a dream, perfect a pastime, and live.
By acquiring new talents through ongoing study and always continuing to hone your skill set, you can demonstrate initiative to potential employers. What you discover can also motivate you to choose a different career path. Online schooling can be beneficial if you’re going through a mid-career crisis and believe you might be open to changing careers.
About The Author:
Lyle Solomon has extensive legal experience, in-depth knowledge, and experience in consumer finance and writing. He has been a member of the California State Bar since 2003. He graduated from the University of the Pacific’s McGeorge School of Law in Sacramento, California, in 1998 and currently works for the Oak View Law Group in California as a principal attorney.