See 4 fundamental guidelines to help you make your financial planning for the career transition in a quiet and safe way
THE career transition It is one of the courageous steps we can do in our life, but it is also one of the most demanding processes, especially when it comes to financial issues. Therefore, the Financial planning for the professional transition It is fundamental.
Many people, when they decide to change their profession, feel the fear of the financial impact of this change. The recurring thoughts are:
- How to support you while you dedicate yourself to the new path?
- What to do when the stability of the old career seems much safer?
I will tell you everything you need to know in order not to let the financial stress sabotage your career transition.
I, Gabi Sravato, are a mentor of Professional turbinated transition course And I also crossed three professional transitions. I know how complicated this process can be, both emotionally and financially.
Therefore, I will share some key guidelines to help you plan your transition in a quiet way and without further concerns on the financial part.
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1. Assembly your financial reserve
The first and most important step in financial planning for the career transition is to create a Financial reserve. I know, I know … everyone talks about it, but believe me, makes the difference!
The financial reserve will give you the security necessary to deal with the transition without the weight of financial stress – and believe me, this weight can be enormous.
The ideal, if possible, is to have a reserve that covers 6 to 12 months of its basic expenses – this includes homes, food, health and other essential needs.
When you know you are covered in this sense, you can dedicate yourself to the new career more easily, without having to worry about paying the bills even builds your new trajectory.
And don’t think you have to collect the 12 months simultaneously. For example, I could not assemble this reserve in my career transition, but I had alternatives.
During my process, I was able to reconcile the two professions for a while. This was possible because my previous profession allowed me to do this planning.
If you are at the time of life when your current profession does not allow reconciliation with the construction of a new career or if you have many financial commitments (such as financing) or children to be supported, it is even more important to think about this planning.
+ Look at how to carry out the career transition at 40 and at the age of 50 successfully and trust
2. Consider of reconciling both careers at the beginning
There are no problems in calm down. Many people believe that, to start the transition of the career, they must abandon everything at once, but this is not always necessary.
During my transition, I kept my old profession as I built the new one.
In my case, it was possible to do both. I also continued to serve aesthetic customers while they also start acting as a therapist. This allowed me to gradually carry out the transition for two years and without the pressure to live immediately from the new profession.
If you can do the same, start slowly, dedicating one day or a few hours of the week to the new path, keeping your job current.
This gradual transition is essential to reduce financial anxiety. What often happens is that the pressure of the accounts becomes so great that the person ends up giving up the change.
Financial planning for career transition with patience is the key to avoiding this type of internal sabotage.
+ How to have prosperity at work
3. Plan every step clearly
When you decide to make a transition, it is important to be clear about what you need to take every step.
This includes:
- How much you will spend to qualify in the new area
- What courses you will have to do
- Services that will have to take on
- The time needed to obtain stability in the new job, among other aspects.
For example, I knew that the therapy would have requested a new training and this required investment of time, dedication and money. Planning allows you to view the process in advance, giving you more security to go on.
There is nothing to imagine that in three months everything will be ready. For some, this process may take up to two years, as well as my case.
Planning gives you a sense of control (although there may be unexpected events coming, but with planning it is easier to circumvent them) and reduces insecurity as it gives you clarity.
When you are clear on what you need to do, it is easier to go on without that paralyzing fear of the unknown.
4. Look for emotional and technical support during the transition
Dating the financial part is important, but the emotional part must also be well administered.
During my transition, I looked for emotional help, and this was fundamental for my trip. Professionals and close people have supported and encouraged that he helped in this phase.
It does not underestimate the impact that fear of failure and financial anxiety can have on the process of change.
Search mentors, therapists or people who have already undergone a professional transition. This support will help you manage anxiety, insecurity and even the external pressure you can feel from others.
Go to your pace!
Remember that the career transition is not a race. There is no fixed deadline to achieve your goal, and it’s okay if you need time to reach your financial and emotional stability.
The important thing is that you have clarity, patience and good planning so you can go on without pressure.
If you are ready to take the first step in the career transition safely, the course Turbo professional transition It can help you plan, organize yourself and find the balance you need to make this change successfully.
The post Financial planning for the career transition: what do you need to know appeared first in Personade.
Gabi Risprato (gabi@gabisquizato.com)
– Professor of personal and professional development, emotional intelligence coach, executive mentor and therapist. It helps you organize yourself – inside and outside – to have results without giving up yourself.
Source: Terra
Ben Stock is a lifestyle journalist and author at Gossipify. He writes about topics such as health, wellness, travel, food and home decor. He provides practical advice and inspiration to improve well-being, keeps readers up to date with latest lifestyle news and trends, known for his engaging writing style, in-depth analysis and unique perspectives.
