A WaypointRx Company
Thinking of changing careers? Before taking the plunge be sure to consider the variety of personal and financial implications that may go along with a shift in your life. In this article we will be reviewing the best financial decisions to maximize opportunity and reduce risk on thing that may end up setting you back financially.
First and foremost, get organized. Changing jobs and/or careers shouldn’t be done on a whim. Put pen to paper and write down your goals and reasons. Create pro/con lists and develop contingency plans. Ensure that your new career path will include equal or better benefits, and ensure you are prepared financially for any changes.
Remember better pay does NOT equal better benefits and cannot make up for any lack of financial planning.
Questions for you to consider:
How long will the transition take?
Do you have enough savings if it takes longer than anticipated?
What are you giving up by transitioning?
What are you gaining by transitioning?
Is your family on board/ready for your transition?
It is also a good idea to talk everything through with your family/friends/mentors to ensure that you are making the switch for the right reasons. Discuss you plan and financial strategy for the transition. If you need help getting organized, our team can help you walk you through the process and maximize your result and prepare for contingencies.
- Precheck: What is your financial prescription?
What do you currently have as benefits? What is missing? What can be gained? Where are you lacking or at risk?
- Communication: Ensuring you and your family are prepared, on board, and understand what will be changing.
- Organization: Developing a plan, creating specific goals, run projections and different scenarios to prepare for contingencies.
- Benefits and Quality of life: pros and cons. What are you giving up vs gaining? What is your plan to make up for any potential losses of time/money/benefits?
It is important to understand that how well the transition goes is just as important as how well the new job goes. Don’t get stuck in the mindset of “a better job will fix everything/solve my problems” because doing so may end up being your downfall. Take this waypoint in your career as a serious and potentially wonderful opportunity.
Give us a call today and get a free 15-minute financial prescription and organization plan.
For more information, click the button below and set up an appointment with one of our advisors.
We also recommend you visit http://www.waypointus.com/pharmacist-financial-webinars and check out our free webinar on Establishing A Game Plan for additional tips and tricks for finding and following your financial goals.
At WaypointRx & Pharmacist Financial, we take pride in helping pharmacy owners & staff pharmacists reach financial goals, make educated decisions, & develop financial plans that work best for their unique needs. Over the years we have helped hundreds of pharmacists enjoy inspired independence by achieving greater personal and financial success. As we begin each relationship, we invest a lot of time and effort in the discovery and clarification of each pharmacist’s unique situation and, most importantly, their financial goals.
Advisory services are offered through Waypoint Strategic Advisors, LLC, a Registered Investment Advisor in the state of South Carolina.
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