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Rachel and Stacey switched careers to help support their financial futures

As we embrace living longer, we also need to shift our thinking around the traditional ‘study, work, retire’ mindset.  Rachel and Stacey, who feature in our video, embraced switching careers to help support their financial futures. Watch the full story below.

Taking control of your future with a ‘squiggly’ career path

We believe that jobs for life are increasingly rare, with more people taking ‘squiggly’ career paths as we’re impacted by planned or unexpected life events throughout our longer lives. Despite this, there can still be a tendency to think less about making changes to your career as you get older.

Our research shows that a third of 45–54-year-olds are expecting to change their career before they retire, although many don’t know how best to go about it. And, because awareness of careers advice services tends to be lowest among older age groups, it can seem like a change of direction is out of reach.

Have you thought about the second half of your career?

If you don’t envisage yourself in the same job forever, it’s important to think proactively about where you want your career to go at 50, 60 and beyond. This can help you enjoy a fulfilling work life and ensure you’re as prepared as you can be for the retirement you want, when you want it.

In our video above, Stacey discusses how he was made redundant from a corporate job in his mid-40s and used the opportunity to pursue a more creative career: his own tattoo business.

As your life circumstances change, it’s natural that your career choice might change

When you’re ten or 20 years into a career, it can be natural to see a change in direction as daunting. Particularly the concern that it may not pay off financially. But circumstances change over the course of our lives and so, it’s equally natural that our work can - and should - too.

You might find yourself at 45, looking for a job which fits better with family commitments. Or at 65, wanting a change that allows you to continue working despite a health condition.

In our video, Rachel explains that the catalyst in making a change was a health emergency during her first pregnancy. This difficult life event prompted her to rethink the direction her life was taking and switch from a 20-year modelling career to a role at a private bank.

How we support career switches at Phoenix Group

At Phoenix Group, we support colleagues with career workshops and encourage open personal development conversations with line managers to shape people’s careers in the way that they want. We also give colleagues in their 40s, 50s and 60s the opportunity to access holistic and tailored advice about their wealth, health and career.

Thinking about changing careers?

Whatever our age, we all have the power to do something different, with the right support. And there are plenty of brilliant organisations, tools and resources you can turn to by searching the internet, including our Careers Can Change website.

Support is there, so do take every advantage of the help on offer and maximise the potential of living longer.

 

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