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Last Updated on January 27, 2019

Signs You Need a Career Change at 30 (And How to Make It Successful)

Signs You Need a Career Change at 30 (And How to Make It Successful)

I remember when I turned 30, I felt a new sense of maturity, confidence, and purpose. I had developed a solid reputation at work and achieved two promotions. I was also blessed to marry my best friend and travel the world. This was also the same year that I felt the pressures of increasing responsibilities as I was supporting my parents with my mom’s cancer treatments and being a caregiver to my grandmother.

I was exposed to many life events that offered me the opportunity to reflect on making a career change at 30 and consider how a career impacts my quality of life. And since we spend over 90,000 hours at work in our lives, it was time that I re-evaluated the career decisions that I was making.[1]

At 30, you still have about 35 more working years left until retirement and a career change is inevitable in our fast paced changing world of work.

Common Triggers For a Career Change

1. Life Events

Whether you’re getting married (or some may get divorced), seeking home ownership, raising a family, caring for aging parents, developing your career, or building your nest egg — you’re bound to experience life events that will change your perspective.

The spark to change careers comes in different forms for everyone. For some, it’s a big fire; and for others, it’s a small lit birthday candle leading them to take the first step like recognizing that a career change is needed.

These life events will likely surface some questions for reflection:

  • Why do I feel like I need a change?
  • What is most important to me right now?
  • How can I create a more flexible work schedule?
  • What can I do to spend more time with my family?
  • What if I could include my desires into my life and work? How could I go about doing that?
  • What trends are having the most impact on my career? Which of my existing skills are more adaptable and which new skills do I need to add?

Fear of the unknown can be paralyzing and when you’re able to pass through the transition of a career change, the outcomes of making informed decisions can be quite exciting. Keep an open mind and renew your mindset.

2. You’re on Autopilot

Many of us take work for granted when it becomes comfortable and routine. This is a very common scenario for a majority of people in the workplace.[2]

You may be on autopilot from the moment you get out of bed to the end of your work day. You stroll through the sea of cubicles and finally arrive at your own. Maybe you can’t remember how you’re already idle at your computer, logging into your email, and checking your calendar.

Here are some cues that you’re on autopilot:

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  • You feel stuck and can’t quite put your finger on what needs to change.
  • You make decisions without thinking. Your decisions are mindless and unintentional.
  • You dread each day. Every morning feels empty because you have nothing to look forward to.
  • You’re bored. When you’re completing a task, your mind wanders aimlessly about other things.
  • Your routine is predictable and familiar. You know exactly what’s going to happen each day, month and quarter. Nothing will change.
  • You say ‘yes’ more than you say ‘no’ because you don’t want to let others down, but regret the decision because you’ve said ‘yes’ to something you really don’t want to do.

Adults make about 35,000 decisions a day according to some research.[3] There are many times that we do things without thinking.

Being on autopilot does help us manage our compounding choices, however, if we rely too much on our default setting we will likely not make conscious decisions.

You want to be fully present and intentional when you’re making decisions about how you want to shape your work and live your life.

Good news, small actions can help you be more aware of the impact autopilot has on your life and this will be different for everyone.

First, noticing your own autopilot behaviors is essential as you will start to recognize and change your habits so that you can make mindful decisions.

3. You’ve Been Overlooked for a Promotion

You may be eyeing a career change at 30 if you’re frustrated because you’ve been passed over for a promotion. You are skilled, have close to 10 years of work experience, and achieved many career milestones. However, the problem is that you still don’t have that management job title and can’t understand why.

You dread going into work each day and your mind is flooded with negative emotions from your inner critic that you can’t seem to silence:

  • You’re likely fuming, wanting to knock down your boss’s door to demand answers, walk out and hit the job postings.
  • You resent the new employees who have come into the company and moved onto other roles with increasing responsibility, and yet your job description has remained the same.
  • You feel stuck and can’t seem to understand why she/he was promoted and not you. You’re constantly comparing yourself to others. You believe you have the same skills and you have been with the company longer than her/him.

Here are some tips to consider before you bury your head under the sand:

  • Stay professional. You’ve spent a lot of effort building the trust of your colleagues. Don’t let your impulses spoil the reputation you’ve built. Take a deep breath, maintain your grace and congratulate the incumbent.
  • Look inward. It’s easy to point your fingers at others when something doesn’t go your way. This is a great time to take stock of your strengths and vulnerabilities. Being honest and without self-judgement takes courage and patience. Create space for yourself to reflect and enhance yourself awareness.
  • Seek observable feedback. Speak to your trusted advisors. Share with them your self-assessment and ask them to share with you their observations of your behaviours.
  • Be curious and treat the experience as a learning opportunity. Ensure that you’re open to receiving the lessons learned from your experience. Consider things that you could have done to enhance your chances at a promotion or factors that may be outside of your control.

4. You’re Stressed and Overworked

As you transition from your 20s to your 30s, you will likely experience greater responsibilities or at least the feeling you should take on more responsibilities shaped by social norms. Some expectations may include getting married, having a full-time job, home ownership, starting a family, and climbing the corporate ladder.

Trying to constantly meet externally imposed expectations along with increasing work pressures can be a recipe for a career change at 30.

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When your stress is not addressed, this can result in burnout and there are ways to be proactive. While breakdowns are catalysts for change you need to listen to your body and focus on what you have control over.

Take time for self-care and when you create some space for yourself, you may realize that embarking on small or big career changes at 30 is the right timing.

Questions to help you work through your stressors:

  • What is the problem? What is causing your stress at work? Write it down. Get clear on the problem. You’ll likely need to ask yourself these questions at least 5 times to get to the heart of your problem.
  • What will inaction cost you emotionally?
  • What are you willing to tolerate and not tolerate? What is your limit?
  • What social norms are you afraid to go against and why?
  • Why am I doing what I’m doing? Truly understand the intentions behind your actions.

Career changes are unique and needs to be tailored specifically for you. Whether you want to make small incremental changes or turn your ship around 180 degrees, take your time to seek clarity first. This will help you lay a solid foundation to build a successful career change and avoid mindlessly scanning job boards.

How to Make a Successful Career Change

1. Know ‘Why’

Usually when you’re seeking a career change, there’s a lot of emotions present. It’s essential that you understand and know the true reason of your career change.

Here are some tips and questions to help you find the purpose behind your career change:[4]

What are the best moments in your career so far? What do you enjoy doing so much that you can lose track of time. What do people always say you’re great at? Write it down. List things that you love about your work and things that you hate.

Whose career do you admire? Your answers to this question will tell you a lot about your career desires. Think of three people whose career you admire. What is it about their work that fascinates you? What do you find interesting about their career?

If success was guaranteed and you had the skills, what would you be doing and why?

The more you write, the more you’ll notice themes and patterns. Some examples of themes include speaking, listening to others, designing, or creating.

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If you can’t seem to find patterns, share what you’ve learned about yourself with an objective friend or mentor. This information will help you hone in on your strengths, the types of connection you enjoy and what impact you want to make with your work.

I would encourage you to try and complete this exercise without making any assumptions. It’s easy to jump ahead and have your thoughts interrupted by fear and insecurities. There are no right or wrong answers here. You are simply writing down what and how you feel.

2. Check Your Assumptions

You may have heard the saying “a little knowledge is a dangerous thing”. At 30, you’re probably feeling quite confident in your position in life. You’ve been molded by various cultures and the greatest influencers in your life – be it your families, friends or colleagues.

You may be an engineering professional and realize that you want to be a social worker. However, you think “… I could never do that. What will my parents think? My friends will think I’m crazy. I’ll be poor and can’t make a living doing that. I’ll have to go back to school to get my Master’s in Social Work. That will take too long”.

Notice how your inner dialogue has created assumptions about your desired career change, and yet you have not checked these assumptions. You will need to do a bit of research before you can say that everything you just told yourself is true.

  • What type of volunteer work have you done?
  • What do you find most attractive about being a social worker?
  • What types of nonprofits do you support financially or through volunteering?
  • What would happen if you spoke to your parents and friends that you’re considering a career change?
  • How have other professionals made a career change to become a social worker?
  • Do you need a graduate degree to get hired as a social worker?

Not only do you need to be mindful of your assumptions, you need to get very specific about what aspects of the new career actually excites you.

Do you want to be a social worker because the job will make you feel like you’re having an impact on someone’s life? Does working for the nonprofit sector appeal to you? Do you enjoy listen to others objectively and providing support? Do you like educating others?

Keep in mind that these career ingredients also exist in other careers. Speak to people that can provide you with answers. Others’ will likely provide you a different perspective than your own. So I urge you to keep all possibilities on the table before you discard them.

3. Be a Beginner and Experiment

As we age, we gain more experience and we lose our ability to learn like a true beginner.

Children learning a new skill usually have no previous knowledge or expectations about what they are about to learn. They have a sense of humility to their learning approach. Kids are usually ready and willing to learn.

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Taking a humble approach to learning about your career change will help you keep an open mind.

Here are a few tips:

Take baby steps

Change rarely happens overnight. Be patient with your career change as you gather information about yourself and learn from others through informational interviews.

Experiment.

Remember to test your assumptions. Career changes can be challenging and there will be an element of trial and error.

It’s ok to fail because then you’ll know, learn and be able to move forward. You’re gaining more knowledge about yourself each time you try something new.

Stop analyzing and take action.

As adults, we have a tendency to analyze and assess risk based on our experience and knowledge. There comes a point when you need to stop analyzing and actually do it.

Email that social worker you’ve admired for an informational interview. The worst that can happen is that you don’t receive a response. Email someone else. There are plenty of professionals that will share their time and experience with you. Move beyond the paralysis of fear and take action.

The Bottom Line

Be intentional about your career decisions at 30 and notice how your career impacts the quality of your life. A successful career change requires you to build a stable foundation by truly looking inward to understand why you want a change – tiny or big.

Possibilities are limitless so ensure that you double check your assumptions, experiment and keep a beginners mindset. Remember to make career decisions that feel natural to you.

Spend 3 minutes today to write 3 reasons why you want a career change right now. Review your answers from the previous day and write down 3 other reasons. Repeat this exercise Signs You Need a Career Change and How to Change for Success
for the next 7 days. What patterns do you notice?

More Resources About Career Change

Featured photo credit: @CVDOP Limbocker via unsplash.com

Reference

More by this author

Ami Au-Yeung

Workplace Strategist | Career Coach | Workshop Facilitator | Writer | Speaker | Past Business Professor

7 Powerful Steps to Achieve Career Success 7 Ways to Ensure Effective Communication at Work 9 Tips for Starting a New Job and Succeeding in Your Career How to Write a Career Change Resume (With Examples) How to Write a Cover Letter for a Career Change (Step-By-Step Guide)

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Last Updated on August 20, 2019

How to Set Financial Goals and Actually Meet Them

How to Set Financial Goals and Actually Meet Them

Finances can push anyone to the point of extreme anxiety and worry. Easier said than done, planning finances is not an egg meant for everyone’s basket. And that’s why most of us are often living pay check to pay check. But did anyone tell you that it is actually not a tough task to meet your financial goals?

In this article, we will explore ways on how to set financial goals and then actually meet them with ease.

5 Steps to Set Financial Goals

Though setting financial goals might seem to be a daunting task but if one has the will and clarity of thought, it is rather easy. Try using these steps:

1. Be Clear About the Objectives

Any goal (let alone financial) without a clear objective is nothing more than a pipe dream. And this couldn’t be more true for financial matters.

It is often said that savings is nothing but deferred consumption. Therefore if you are saving today, then you should be crystal clear about what it is for. It could be anything like kid’s education, retirement, marriage, that dream vacation, fancy car etc.

Once the objective is clear, put a monetary value to that objective and the time frame. The important point at this step of goal setting is to list all the objectives, however small they may be, that you foresee in the future and put a value to it.

2. Keep Them Realistic

It’s good to be an optimistic person but being a pollyanna is not desirable. Similarly, while it might be a good thing to keep your financial goals a bit aggressive, going out of the line will definitely hurt your chances of achieving them.

It’s important that you keep your goals realistic in nature for it will help you stay the course and keep you motivated throughout the journey.

3. Account for Inflation

Ronald Reagan once said – “Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hitman”. And this quote sums up the best what inflation could do your financial goals.

Therefore account for inflation whenever you are putting a monetary value to a financial objective that is far away in the future.

For example, if one of your financial goal is your son’s college education, which is 15 years hence, then inflation would increase the monetary burden by more than 50% if inflation is mere 3%. So always account for inflation.

4. Short Term vs Long Term

Just like every calorie is not the same, the approach towards achieving every financial goal will not be the same. It is important to bifurcate goals in short term and long term.

As a rule of thumb, any financial goal, which is due in next 3 years should be termed as short term goal. Any longer duration goals are to be classified as long term goals. This bifurcation of goals into short term vs long term will help in choosing the right investment instrument to achieve them.

More on this later when we talk about how to achieve financial goals.

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5. To Each to His Own

The journey of setting financial goals is an individualistic affair i.e. your goals are your own goals and are determined by your want to achieve them. A lot of times we get on the bandwagon of goal setting only to realize later on that it was not meant for us.

It is important that your goals are actually your goals and not inspired by someone else. Take a hard look at this step at all the goals you’ve set for after this step, you will be on the way to achieve them.

By now, you would be ready with your financial goals, now it’s time to go all out and achieve them.

11 Ways to Achieve Your Financial Goals

Whenever we talk about chasing any financial goal, it is usually a 2 step process –

  • Ensuring healthy savings
  • Making smart investments

You will need to save enough; and invest those savings wisely so that they grow over a period of time to help you achieve goals. So let’s get down to ensuring healthy savings.

Ensuring Healthy Savings

Self realization is the best form of realisation and unless you decide what your current financial position is, you aren’t heading anywhere.

This is the focal point from where you start your journey of achieving financial goals.

1. Track Expenses

The first and the foremost thing to be done is to track your monthly expenses. Use any of the expense tracking mobile apps to record your expenses. Once you start doing it diligently, you would be surprised to see how small expenses add up to a sizeable amount.

Also categorize those expenses into different bucket so that you know which bucket is eating the most of your pay check. This record keeping will pave the way for cutting down on un-wanted expenses and pump up your savings rate.

2. Pay Yourself First

Generally, savings come after all the expenses have been taken care of. This is a classical mistake which almost everyone of us do. We pay ourselves last!

Ideally, this should be planned upside down. We should be paying ourselves first and then to the world i.e. we should be taking out the planned saving amount first and then manage all the expenses from the rest.

The best way to actually implement is to put the savings on automatic mode i.e. money flowing automatically into different financial instruments (for example – mutual funds, retirement corpus etc) every month.

Taking the automatic route will make us lose control of our money and hence will compel us to manage in what’s left with us thereby increasing the savings rate.

3. Make a Plan and Vow to Stick with It

Budgeting is the best to get around the uncertainty that financial plans always pose. Decide in advance how spending has to be made.

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Nowadays, several money management apps and wallets can help you do this automatically. It’s easy and who knows, you may just end up doing what people fail to do.

At first, you may not be able to stick to your plans completely but don’t let that become a reason why you stop budgeting entirely.

Make use of technology solutions you like. Explore options and alternatives that let you make use of the available wallet options and choose the one that suits you the most. In time, you will get accustomed to making use of these solutions.

You will find that they make it simpler for you to follow your plan, which would have been difficult otherwise.

4. Rise Again Even If You Fall

Let’s be realistic. It’s not like the world will come to an end if you made one mistake. This isn’t called leniency but discipline.

If you fail to meet your budget for a month, don’t give up the entire effort just like that. Instead, start again.

Remember that flexible plans are the most realistic plans. So go forward and try to follow your financial goals as planned but if for some reason, the plan gets out of hand for you, do not give up on it just yet. This has a lot to do with your psychology rather than any material commitment.

All you have to do is to stay on the road and vow to stay on it, no matter how much you fall down.

5. Make Savings a Habit and Not a Goal

In the book Nudge, authors Richard Thaler and Cass Sunstein advocate that in order to achieve any goal, it should be broken down into habits since habits are more intuitive for people to adapt to.

Make Savings a habit rather than a goal. While it might seem to be counter intuitive to many but there are some deft ways of doing it. For example:

Always eat out (if at all) during weekdays rather than weekends. Usually weekends are expensive. Make it a habit and you would in turn be saving a great deal.

If you are travelling buff, try to travel during off season. Your outlay will be much less.

If you go out for shopping, always look out for coupons and see where can you get the best deal.

So the key point is to imbibe the action that results in savings rather than on the savings itself, which is the outcome. Focusing on the outcome will bring out the feeling of sacrifice which will be harder to sustain over a period of time.

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6. Talk About It

Sticking to the saving schedule (to achieve financial goals) is not an easy journey. There will be many distractions from those who are not aligned with your mission. And it would be rather easy to lose the grip over your discipline.

Therefore in order to stay the course, it is advisable that you keep yourself surrounded with people who are also on the same bandwagon. Daily discussions with them will keep you motivated to move forward.

7. Maintain a Journal

For some people, writing helps a great deal in making sure that they achieve what they plan.

So if you are one of them, maintain a proper journal, where you write down your goals and also jot down the extent to which you managed to meet them. This will help you in reviewing how far you have come and which goals you have met.

Use this journal to write down all essential points such as your short term, mid term and long term goals, your current sources of income, your regular expenses which you are aware of and any committed expenses which are of recurring nature.

When you have a written commitment on paper, you are going to feel more energised to follow the plan and stick to it. Moreover, it is going to be a lot more easier for you to follow you and track your progress.

At this point, you should be ready with your financial goals and would be doing brilliantly with savings; now it’s time to talk about the big daddy – Investments.

Making Smart Investments

Savings by themselves don’t take anyone too far. However savings when invested wisely can do wonders and we are at that stage where we will talk about making smart investments.

8. Consult a Financial Advisor

Investments doesn’t come naturally to most of us therefore rather than dabbling with it ourselves, it is wise to consult a financial advisor.

Talk to him/her about your financial goals and savings and then seek advice for the best investment instruments to achieve your goals.

9. Choose Your Investment Instrument Wisely

Though your financial advisor will suggest the best investment instruments, it doesn’t hurt to know a bit about them.

Just like “no one is born a criminal”, no investment instrument is bad or good. It is the application of that instrument that makes all the difference.

Do you remember we talked about bifurcating financial goals in short term and long term?

It is here where that classification will help.

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So as a general rule, for all your short term financial goals, choose an investment instrument that has debt nature for example fixed deposits, debt mutual funds etc. The reason for going for debt instruments is that chances of capital loss is less as compared to equity instruments.

10. Compounding Is the Eighth Wonder

Einstein once remarked about compounding,

Compound Interest is the eighth wonder of the world. He who understands it, earns it… He who doesn’t… Pays it.

So make friends with this wonder kid. And sooner you become friends with it, quicker you will reach closer to your financial goals.

Start investing early so that time is on your side to help you bear the fruits of compounding.

11. Measure, Measure, Measure

All of us do good when it comes to earning more per month but fail miserably when it comes to measuring the investments; taking stock of how our investments are doing.

If there is one single step where everything (so far) can go wrong, it is at this step – Measuring the Progress.

If we don’t measure the progress timely, then we would be shooting in the dark. We wouldn’t know if our saving rate is appropriate or not; whether financial advisor is doing a decent job; whether we are moving closer to our target or not.

Do measure everything. If you can’t measure it all yourself, ask your financial advisor to do it for you. But do it!

The Bottom Line

This completes the list of tips for you to set financial goals and actually achieve them with not so great difficulty.

As you can see, all it requires is discipline. But guess that’s the most difficult part!

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Featured photo credit: rawpixel via unsplash.com

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