TIPS TO SIMPLIFY RETIREMENT PLANNING

You’ve invested years into the workforce and are now considering retirement. What factors drive some people to retire sooner or later in life? Is there a specific age-range that’s best to retire? Planning for retirement is unique for each individual’s situation and goals. Optimal timing for retirement depends on the person’s needs, aspirations, and financial position. It’s important to maintain flexible and open to new possibilities when planning for retirement. 

THINKING OF RETIREMENT? CONSIDER THIS:

1. How many years have you been in the workforce? Social Security collects a portion of your employment income, accumulating funds for when ready to retire. Social Security provides detailed benefit information based on age, work history, and income. Applying for benefits is also possible on the Social Security website. According to AARP, the longer you wait to collect Social Security after age of 62 the greater the return. AARP comments further, “For each year you delay, your Social Security benefits will increase between 7 percent and 8 percent up to age 70, depending on your year of birth.”

2. Determine monthly income and monthly expenses. Jot down all sources of income and expenses for each month. This provides detailed information on financial obligations needed when considering retirement options.

3. Which sources of income will commence upon retiring and which will cease? List new sources of income such as Social Security, 401K’s or other retirement plans, savings, investments, and others. Also review income sources that will cease or decreases, and include updated financial figures to your retirement planning list.

4. It’s never too late to strategize for retirement. Regardless of age or work experience there are many options available. Seek assistance from a financial expert who can provide retirement options based on your goals and financial needs.

5. Working is still an option after retirement. Seeking employment after retiring is a choice for individuals who require extra income or enjoy working. There is a limit to the number of work hours allowed when receiving Social Security benefits. Consult with Social Security to make sure you’re keeping within their guidelines.

*All suggestions should be discussed with a professional who specializes in retirementment prior to implenting any ideas discussed in this article. This article is only intended for informational purposes.

FACTORS TO CONSIDER WHEN CONTEMPLATING A CAREER CHANGE

There are a few factors to consider when contemplating a career change. Some individuals shift professions rather quickly, while for others take years. There’s no right time to initiate a new profession, rather it’s an individual choice influenced by personal and professional aspirations. Do you prefer better pay over work satisfaction? What job would you consider if promised a decent salary? Taking time to answer such questions brings insight into purposeful career options. Take note of professions that bring purpose and fulfillment as it is key in the decision making process. Also, a new career can manifest change in different areas of life. Consider lifestyle changes that might emerge with a new occupation. Once ready to move ahead proceed with confidence considering all the positive benefits that motivated you to start a new career!  

Consider This Before Changing Your Career…

1. Does the new career align with your current lifestyle? Perhaps your profession requires working overtime hours and traveling. If you’re motivated to travel and need extra cash that may be your dream job. On the other hand, if job flexibility and free time are important then you may want to consider other employment opportunities. Also, is this a good time to introduce change in your life? Life experiences like moving into a new place or having a baby require time and attention. In such instances it may be challenging to start a new career, yet that’s a personal choice. Only you know how much you can handle and the appropriate time to start a profession.

2. Am I willing to start a new career from scratch?  Careers in similar fields can overlap skills and job roles, while others require new skills and additional education. Staring a new profession can be an exciting journey if your willing to do all it takes to change career paths. Other individuals prefer occupations within a similar field that allow for more simplified job transitions. 

3. Research jobs of interest. This provides insight as to what you can expect when entering the workforce. Research average salary based on experience and job role in your state and city. Some jobs are more prominent in certain cities and states. Also, consider if there’s a good hiring pool in your profession. Occupations of high demand a few years ago may not necessarily maintain the same status. With technological advances and todays fast-paced job market occupations are taking a shift. It’s best to do some homework and research if it’s worth pursing any given occupation. 

4. Reach out to professionals for support. Guidance counselors, human resource personnels, career coaches, and professionals in your field of study can provide much assistance. It’s key to ask detailed questions relating to your career of choice. Such individuals can provide valuable resources and share helpful insights. 

5. Step out of your comfort zone. At times the most challenging aspect of change is moving beyond our comfort zone. It can be intimidating to contemplate all that’s involved in changing professions, yet once determined it’s key to focus on positive outcomes. Moving into a different profession may call for new experiences. If in doubt re-evaluate personal and occupational goals. Otherwise, move ahead in confidence considering all the positive benefits in changing careers.

MANAGEMENT TIPS FOR MILLENNIALS IN THE WORKFORCE

Millennials account for 36 percent of the U.S. workforce, and currently hold numerous leadership positions. Research from DDI and The Conference Board relates positive attributions young leaders offer to their work environments. According to the DDI study, the pace at which an organization grows is highly related to the number of Millennials in leadership positions. As young professionals continue to emerge in leadership roles it’s important to implement effective management skills.

TIPS FOR YOUNG PROFESSIONS ON EFFECTIVE MANAGEMENT SKILLS:

1. Seek counsel: Part of gaining expertise is learning from people who share similar proficiencies and from individuals who “paved the way”. There is much to gain from coworkers and experts who experienced like trials.

2. Ask when in doubt: It’s perfectly appropriate to seek assistance when faced with a difficult situation or important decision. Effective leaders understand the importance of sound advice from experienced professionals.

3. It’s okay to make mistakes: Give room for errors as you sharpen your management skills. Attention should be given in developing strategies for better outcomes, yet be flexible when mistakes happen. Focusing on problem-solving skills rather than dwelling on what went wrong is part of managing your team effectively.

4. Embrace teamwork: Colleagues and business partners are important team members. Promoting success in others will bring more work satisfaction and foster a workplace culture of connectivity and unity.

5. Promote diversity: Today’s workforce is comprised of employees from around the world with various cultures, ethnicities, and beliefs. Embracing a multicultural workplace with equal gender opportunity and free of discrimination is essential for a successful business.

6. Step out of your comfort zone: We each have strengths and areas needing more attention for professional growth. Conduct a self-evaluation to assess areas requiring focus and intervention. Then, take measures to improve your professional skills.

7. Delegate tasks: It can be intimidating to delegate tasks to colleagues with company seniority.  You were chosen for a management position based on your skills and qualities, and age is irrelevant. The idea is to keep respectful when delegating assignments to other coworkers. Delegating should focus on teamwork, rather than taking advantage of a management position.

8. Maintain work-life balance: Career goals and visions of success can introduce balance between work and personal life. Technological advances and social media contribute to continuity of job-related tasks outside of working hours. Disengaging from job responsibilities provides time to recharge, bringing fresh ideas when ready to return to work.

JUMP FOR NEW & EXCITING CAREER OPPORTUNITIES!

Pressures in economic demands cause some individuals to place professional aspirations aside settling for first available job options. Income, passion, purpose, or all of the above are driving forces influencing career decisions. Whether you’re investigating employment opportunities or pursuing your “dream job”, it’s crucial to remain optimistic and not lose sight of your goals. It’s never too late to revamp or initiate a new vocation! With just a few strategies you can ignite professional ambitions.

1. Create a visual aid on how your professional life will look five years from today. Envisioning your future is a good starting point when mapping career paths. Provide as much detailed information as possible and get creative. This is your canvas to explore and create all sorts of professional possibilities.

2. Network with other people. Speak with professionals in your field for direction, career advice, and valuable resources. Human resource personnel can also provide assistance with resume creation and interviewing tips.

3. Take inventory of occupational goals. Career ambitions may change over time depending on life circumstances and personal interests. Make time to examine important factors influencing career choices as often as needed. This can help alleviate stress and narrow career options to those that best fit your lifestyle and financial needs.

4. Research your current salary. Familiarize yourself with standard pay rates for your work industry. The United States Department of Labor Statistics outlines average income per state for various occupations.

5. Investigate job opportunities. Before investing extensive time and energy in any given profession determine job availability. Can you afford being unemployed for some time before earning stable income? Are you pursuing a career that’s in high demand? Will it be easy to get a job in your field of study post graduation? These are some questions to consider when considering career options.

6. Remain optimistic. When career passions start to dwindle take inventory of your professional aspirations. Doing so helps keep dreams alive as you advance in your career or work towards your dream job. 7. Stay up-to-date on the latest technologies and breakthroughs in your field. Keeping informed is fundamental when seeking career advancements.

BOOST PROFESSIONAL GOALS WITH THESE NEW CAREER RESOLUTIONS

The excitement of a new year carries the potential for growth and personal development. Career satisfaction is a continuous effort requiring critical thinking and dedication. Do your professional goals need a boost? Take the opportunity this year to enhance your professional aspirations by implementing new career resolutions.

CAREER RESOLUTIONS FOR THE NEW YEAR:

1. Revamp your resume: Update your resume with current contact information, acquired skills, awards, and new credentials. Although you may not be actively seeking employment, job promotions can arise within the company and having an updated resume can be beneficial.

2. Step out of your comfort zone: If you reached the point of expertize in your profession it may be time to step out and try something new. Explore various job roles available in your workplace. Also, reach out to co-workers who can benefit from your guidance and professional experience. Mentoring new professionals is a great way to sharpen leadership skills, along with doing a good contribution.

3. Maintain healthy work-life balance: Including time for personal hobbies and enjoyable activities helps fuel creativity at work. Take inventory on the amount of time invested in work-related activities and time allotted for personal enjoyment. Keeping balance in work and personal activities is crucial in preventing burnout and work overload.

4. Increase your knowledge and skills: There is always opportunity to learn something new. Explore resources available in your workplace and community for career enhancement. Many employers offer educational in-services, courses, and online lectures.

5. Connect with other professionals: Networking is key in career development. Make an effort to connect with others who share like professional goals and aspirations. Networking with other professionals provides support, motivation, and career direction.

6. Practice stress-reduction: Stress has become part of the daily work routine for many employees. Although some stress can be productive, being overly stressed can contribute to burnout and other health concerns. Practice stress-reduction techniques like meditation, breathing, delegation, communication, and planning.

JUMP FOR NEW & EXCITING CAREER OPPORTUNITIES!

Pressures in economic demands cause some individuals to place professional aspirations aside settling for first available job options. Income, passion, purpose, or all of the above are driving forces influencing career decisions. Whether you’re investigating employment opportunities or pursuing your “dream job”, it’s crucial to remain optimistic and not lose sight of your goals. It’s never too late to revamp or initiate a new vocation! With just a few strategies you can ignite professional ambitions.

1. Create a visual aid on how your professional life will look five years from today. Envisioning your future is a good starting point when mapping career paths. Provide as much detailed information as possible and get creative. This is your canvas to explore and create all sorts of professional possibilities.

2. Network with other people. Speak with professionals in your field for direction, career advice, and valuable resources. Human resource personnel can also provide assistance with resume creation and interviewing tips.

3. Take inventory of occupational goals. Career ambitions may change over time depending on life circumstances and personal interests. Make time to examine important factors influencing career choices as often as needed. This can help alleviate stress and narrow career options to those that best fit your lifestyle and financial needs.

4. Research your current salary. Familiarize yourself with standard pay rates for your work industry. The United States Department of Labor Statistics outlines average income per state for various occupations.

5. Investigate job opportunities. Before investing extensive time and energy in any given profession determine job availability. Can you afford being unemployed for some time before earning stable income? Are you pursuing a career that’s in high demand? Will it be easy to get a job in your field of study post graduation? These are some questions to consider when considering career options.

6. Remain optimistic. When career passions start to dwindle take inventory of your professional aspirations. Doing so helps keep dreams alive as you advance in your career or work towards your dream job.

7. Stay up-to-date on the latest technologies and breakthroughs in your field. Keeping informed is fundamental when seeking career advancements.