160-Friday Q&A: Career Planning For Ideological Changes and How To Budget for an Irregular Income

Published: Feb. 28, 2015, 3 a.m.

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Today on the show, I answer these two questions:

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Joshua,

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The reason why I am writing has nothing to do with finances, but career advice. \\xa0Did you (or do you) provide career counseling? \\xa0If not, can you at least recommend someone you trust? \\xa0I thought I heard you mention on a previous show that you were involved in that line of work, unless I am mistaken and it was a guest.\\xa0

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Brief intro: I am 32 years old, a recent MBA graduate, and have a really unique professional background that makes career transitions exceptionally difficult.\\xa0

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Suppose I were a client of yours who is considering a career change at a radical 50% pay cut. \\xa0There are huge financial and emotional considerations at stake. \\xa0Would such a career change be consistent with my financial goals? \\xa0

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I have been working in a specific industry since I started fresh out of college. \\xa0I have recently undergone an ideological conversion to a different system of thinking, and now face some cognitive dissonance over what I do for a living and who I do it for. \\xa0I want out. \\xa0

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In fact, this is the reason I went back to school for my MBA a couple years ago. \\xa0I thought the MBA might help me push the reset button on my career, but the job market hasn\\u2019t been kind to me. \\xa0I have applied to all kinds of jobs that I\\u2019ve thought were similar enough to the work I currently do. \\xa0Unfortunately, I find myself caught between a rock and a hard place: I am too old to be considered for lower-tiered, entry-level positions. \\xa0I am also too inexperienced to be considered for more senior or mid-level positions. \\xa0I am seen as a liability: recruiters think I won\\u2019t last very long if they bring me in at a lower level. \\xa0Recruiters think I won\\u2019t last very long if I am brought into a new environment or industry. \\xa0I am stuck, and I am hoping to speak to someone who can help me do two things: \\xa01) better understand what marketable skills I have in the private sector, and 2) better understand what jobs exist that are the best match for my skills.

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And it gets a little crazier: due to Non-Disclosure Agreements I have signed I cannot fully disclose the exact nature of my skills! This is perhaps the real pickle.. which makes this ordeal much harder than it would normally be for other career changers.

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What are your thoughts?

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-Bill

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AND at 51:24

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Hey Joshua,

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Thanks so much for the show. It has really helped me and my fiance get our finances in order and start us thinking about how we could become financially independent. Even as a Canadian I\'ve gotten a ton out of the show and have tried to hook as many people as I can.

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I was wondering if you might be able to touch on tips and tricks for someone who doesn\'t earn a consistent or regular income. I do video work and while it\'s consistent right now, I have spent most of my working career either working every day in a month or not working at all for weeks at a time. I was just curious if there might be any wisdom you can impart on those kinds of situations.

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Luckily my fiance has a very stable job and makes good money so it gives us the ability to plan at least a bit.

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Thanks again for the show, I look forward to it whenever I walk the dog and on the way to work.

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-Brendon

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Enjoy the show!

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Joshua

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Links:

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