As the workplace evolves, so does our picture of the "perfect career." Some people want the convenience of a work-from-home position to spend more time with family or work from a dream location, while others thrive on the office's social exchange.
But when thinking about a career move, are you also thinking ahead to retirement? Make your next move count.
Becoming a leader doesn't happen overnight, but there are steps you can take to establish yourself as a mentor amongst your colleagues (and without stepping on any toes!). A few quick tips for this include improving your communication skills, leading by example, and continuing to learn more every day.
Leverage Your Skills
When examining how to change jobs strategically, think about your best qualities and what you can bring to the table for this new organization. Can you work a flexible schedule? Have you held a more senior role at your previous organization? Can you offer to mentor or coach in your field of expertise?
You've laid out all the skills and experience you bring to the table –now what? Figure out your desired salary. Are you looking to increase your income, or are you looking for a less stressful role to ease you into retirement? Regardless of the strategy, it would be best to negotiate your value to the position.
Seek Exceptional Benefits Packages
In the past, you may have assessed your benefits packages through the lens of the here-and-now; however, this process may evolve with your next career move. Be sure to ask about company-sponsored and optional benefits, like the availability of group insurance plans, including life insurance, disability insurance, and even long-term care insurance.
Make Informed Retirement Plan Decisions
Get all the details about retirement plan packages available at your new employer and consider the available options for your existing 401(k) or other company-sponsored retirement plans. Should you leave it in your former retirement plan, or should you move it to your new employer (assuming this is an option)? Should you cash it out and possibly incur a tax liability? Or should you consider rolling over those funds to an IRA with potentially more investment choices?
Hire a Fiduciary as you Prepare for Retirement
Whether changing jobs or entering retirement, the number and scale of the decisions you'll face may seem overwhelming. Where do you even start? How do you know that you're not making a mistake?
Consider engaging a fiduciary for advice. A fiduciary is someone legally bound to put your interests ahead of their own, like a CERTIFIED FINANCIAL PLANNER ™ professional.
If you are in the midst of a career move, need advice on retirement plan options, or need the reassurance of professional advice, contact a trusted CERTIFIED FINANCIAL PLANNER™ professional at TrueWealth!
Want more information about investing in your future? Check out our other blog posts here.