Any major life change – even a positive one – comes with its share of stress.

Changing careers is no exception. Regardless of the reasons, think about what direction you want (or need) to go in before you make a major decision that will affect you, your family and your financial future.

We can serve as a sounding board when considering your options and offer financial advice throughout the transition.


Ask the right questions.

It pays to think through some key questions before making the leap to a new venture or preparing to be in the job market again.

  • Burned out? Bored? Maybe a new job function in the same industry could brighten your future.
  • Looking for more? Consider whether prospects are limited throughout the industry or just within your company to help decide between changing careers and seeking greener pastures.
  • Are you overwhelmed? Maybe a new job function in the same industry could brighten your future.
  • Seeking to learn something new? Perhaps consider going back to school.
  • Wanting to stay home with the kids? There are still considerations before going from two incomes to one.

Strategically pursue new opportunities.

Think about what you want and how a change could affect your short- and long-term goals.

  • Calculate your current situation. Know the value of your salary and benefits before leaving them behind – including insurances, retirement plans and profit sharing details.
  • List your priorities for your new profession. And assess your skills and interests in the chosen field. Is a higher salary or work/life balance more important?
  • Update your resume and pursue job openings. If it’s been a while since you were last in the job market, know how the process has changed.
  • Create a financial buffer. This may be necessary to cover transition costs not paid by a new employer.

Consider your offers.

Carefully review the details and negotiate salary and benefits before accepting an offer.

  • Consider everything from the value of your benefits to contract stipulations. Don’t leave money on the table if you don’t have to.
  • Compare the total package. Beyond the pay, think about the intangibles that come along with a new job.
  • Consider how an offer will affect your financial plan. Determine implications for applicable tax liabilities and how you would need to update your financial goals.
  • Research the company. Consider the company’s culture, stability, future outlook and opportunities for growth before committing to a new gig.

Tie up any loose ends.

Once you’ve landed a new job, you’ll need to stay on top of tasks to ensure a smooth transition.

  • Filling out the paperwork. Update your employer contact information, where applicable and request direct deposit to maintain continuity of payroll deposits.
  • Register for benefits as soon as possible. Consider taking advantage of COBRA insurance to fill any gaps in coverage during the transition.
  • Consider your employer-sponsored retirement plan. Understand applicable penalties, taxes or fees associated.
  • Reassess your financial situations. And adjust your plan to fit your goals. And take advantage of a pay increase by boosting savings or paying down debt.