Change After 50-Risks and Rewards
Not Satisfied with Your
Career-Time to Change?
There have been
literally dozens of surveys that report more that 50% or more of professionals over 50 are not completely
satisfied with their current job or career.
If you are
dreaming of a career change now may be the time to assess the overall risks of a career change after
If you have lost
your job or find that your career is a dead end a career change may be a matter of survival. For others a career
change after 50 may be a ticket to realizing dreams, finding challenges and achieving long held ambitions.
Whatever your reason to consider a career change, without the proper planning and analysis it can be a scary
The First Step in Changing
Careers after 50
read the first step is to determine your reason for changing careers. This is not as easy as it sounds. If you
are bored with work, what if anything, have you done to find new challenges, and new ways of doing things, it’s
far less risky taking this route than to jump to a new career.
If a bad boss is
the cause of your dissatisfaction perhaps a new employer or a transfer within your current employer will resolve
analyzed all the aspects of your current position you make the decision to make the career change. Now the
risk/reward analysis is very important. Planning the career move is the key to overall
Informational Interviews are the
The use of
informational interviews can be a help assisting you in exploring the proposed new career. Through alumni
groups, relevant career associations and Linkedin you can find a dozen or so individuals working in the proposed
career. In a short 10-15 telephone interview with most of those on your list you can find out a great deal about
the career: qualifications, education, future prospects, possible employers and industries, salaries, and
referrals to others who can help you
While in your
current position, you can acquire needed education (formal, self-study and internet learning) to qualify for
your new career. The risk is that you leave your current position before qualifying for the new
Starting your own
business is also an option. Here an in-depth risk reward analysis is vital. Don’t do what one individual did,
when buying a carpet cleaning franchise, to later learn even though there were plenty of homes in his franchise
area, it was a vacation retirement area, most floors were tile, many of the homeowners were older and recently
two carpet stores went out of business. Needless to say, after two years of great effort he went out of
List Risks Associated with After
50 Career Change
Central to your
career change planning is to first make a list of the risks associated with your proposed career change plan.
Now in looking at the risks rank them according to them happening. Then you plan how you can avoid each risk and
a Plan B in case the risk materializes.
For example, if
there is a risk that it will take a longer period of time to find the desired career, do you have the financial
resources to pull you through and would perhaps a part-time job be warranted.
Career Change after 50 is Just
Around the Corner
In the event you
are still exploring the possibility of a new career and have not set on one particular career, you should
continue to work your career plan. Join associations, ask questions, go to workshops and seminars, visit
prospective industry trade shows, read relevant career and industry periodicals and research the internet.
All of this effort
will pay off. As you acquire more knowledge and information on the new career you will ultimately make a better
decision and reduce the overall risks of changing careers.
To learn how
others after age 50 changed
careers read their stories on how they successfully changed careers.