AGolden Opportunity in Your Golden Years 3 Tips for Changing Careers Later in Life
Forget the Money Money matters, but it shouldn’t be your first priority on the job hunt. Instead, consider what’s going to make you the happiest. What’s your dream job? What have you always enjoyed doing? If money wasn’t an option, what would you be doing right now instead of counting down the hours to 5 p.m.? Be realistic in your goals and find something you love. Seek Guidance Remember, you’re not alone in this fight! Plenty of people switch careers midway through their lives to focus on something they really enjoy. Seek guidance from those who have had a similar experience and look to professional job hunters or consultants for help. Furthermore, after years in the same job or industry, you’re bound to have made a few connections. Reach out for professional support. Regardless of what path you choose, remember that a career you enjoy is always possible. We can’t promise that you’ll love getting up at 6 a.m., but at least you won’t dread what comes next. Keep emotion out of the conversation. Like investing, it’s important to keep emotion out of the equation, as hard as that can be. Stay rational and levelheaded about your decision-making, and listen to what they have to say. If they try to sway you with emotion, such as guilt, that’s a red flag. They shouldn’t have to guilt you into lending or gifting money. Understand why they need money. Your relative may be coming up short because of a job loss or illness, but there are other ways you can help them without giving money. In the case of losing a job, your family member may be struggling with money as expenses mount, but connecting them with a potential employer or someone in the know may prove more valuable than a loan. As the proverbial wisdom goes, “Give a man a fish, and you feed him for a day. Teach a man to fish, and you feed him for a lifetime.” Draw up terms for loaning money. If you decide to loan money to a relative, get the terms in writing and get the document notarized. The document should detail the amount lent, interest rate (if you decide to charge interest, of course), terms of repayment, and terms of nonpayment. If your relative balks at the idea, consider it a red flag. Both parties must be on the same page before any money changes hands. Don’t lecture. No matter why they need money, avoid returning your relative’s request with a lecture. This creates tension. If you, for whatever reason, are not comfortable in lending or gifting money, say no and end the conversation. There are times when an open conversation about money is necessary, such as discussions related to estate planning, but for this type of situation, keep the conversation to the facts.
It’s 6 a.m. on Monday morning, and your alarm clock blares in your face. You groan and, with the thought of another week looming over you, pull yourself out of bed. But
the early wake-up call is the least of your worries. Another week has begun, and you’re still stuck in a job that you no longer love or maybe never did. Does this sound familiar? If so, you may believe changing careers isn’t worth the hassle, especially if you’re close to retirement, but here’s the secret: It’s not too late! There’s nothing stopping you from finding a career you love later in life. Here are three tips to get you started. Be Flexible If it’s been a while since you’ve hunted for a job, then you may have forgotten what it’s like. Job searching can be exhausting, and some job requirements can look overwhelming. But getting stuck in your ways and focusing on the things you cannot do will only hinder your ability to find a job you actually love. Instead, take a deep breath and be open to what comes. You may discover a hidden talent or passion! THE MONEY TALK It comes up from time to time. A relative calls you or mentions at a family gathering that they need money. It can be uncomfortable, but if a family member asks you for money, what should you do? Gut instinct generally tells us to answer “no.” Lending money to a friend or family member can be a headache more than anything else, but we may find it difficult to say “no.” After all, if a relative comes to us in a time of need, it’s human nature to try and help. Here are a few things to consider before answering this type of request from a relative: What to Do When a Relative Asks for Money
2 • CampbellWealth.com
Made with FlippingBook - professional solution for displaying marketing and sales documents online