Is a Career Change Later in Life Wise - CareerAlley

Is a Career Change Later in Life Wise - CareerAlley We may receive compensation when you click on links to products from our partners. A lot of people are finding themselves making career changes when theyre over 40. Although there are risks involved with taking a new career path later in life, making a career change later in life can certainly be a good move for many people. Reasons for Career Changes Sometimes layoffs force people to make a career change. Todays technological savvy world has certainly made many career paths obsolete. This can cause older workers to have decreased opportunities to find work in their fields. Sometimes older people are laid off because they cost more to employ. Years of experience tend to demand higher wages. Younger people who are fresh out of college expect smaller salaries and can save companies a lot of money. Career changes may be necessary due to health changes as well. Older workers who performed manual labor or physically demanding tasks may find they arent able to continue. They may choose to look for less strenuous career paths. Not everyone makes a career change because theyre forced to do so however. Some people finally feel free to follow their dreams or pursue a new interest. Perhaps the kids have left the nest or theyve obtained financial stability, moving onto a new career can prove to be a realistic goal. Risks of Changing Careers There can be a lot of risks with changing careers later in life. There is certainly the risk that a new career will pay less. Workers with less experience in their new career path may not be able to bring in as much money as their past career. Starting over also means a loss of benefits. A new career will mean starting from the bottom when it comes to earning vacation days and flexibility. It can even mean the loss of health insurance for some workers. Benefits of Changing Careers Changing careers can certainly benefit a lot of workers later in life. Many workers may be able to pursue their dream and enter a career path that they find personally rewarding and fulfilling. Other workers may be able to use their skills and apply to a new career path that wont force them to start from the bottom. For example, a person who worked as an accountant for much of their life may be able to transition to a college teaching position. Workers can also look for opportunities that fit their current stage of life. Without young children living in the home, there may be different priorities about what is important. Perhaps in the past, it was essential for a worker to be able to be home in the afternoons when the children got home from school. Now, that same worker may feel free to accept a position that calls for frequent travel. Workers who find themselves looking for a new career after age 40, have an opportunity to find a new career that they enjoy. Matching a workers skills and interests to a new career is the key to making a second career successful. About the Author: Amy Morin writes about psychology and business topics such as payroll service providers. This is a Guest post. If you would like to submit a guest post to CareerAlley, please follow these guest post guidelines. Good luck in your search. Joey Trebif