[...]... personal and family responsibilities to consider switching And workers age 40 to 49 often note that they re too old to learn a new skill Consider this: Why delay changing careers at age 40 because you think you re too old? In four years, you ll be 44 whether you switch careers or not MYTH: Changing careers means starting with a clean slate FACT: Nothing is further from the truth Like it or not, the work you ve... urban lifestyle • Your job and career no longer interest you; maybe they bore you • The idea of 20 more years in the same career has lost its appeal • You would like to work in a different part of the country • You ve been downsized, fired, canned, pinked-slipped, or whatever you and your former employer—want to call it • You see little room for future growth in your current career • You feel a “calling”... following their gut instinct and changing careers Either way, they all are happy they gave it a try Perhaps you will be, too My best wishes to you as you contemplate and perhaps embark on—a life-changing decision to hitch your wagon to a very different star KNIGHT A KIPLINGER Editor in Chief, The Kiplinger Letter and Kiplinger’s Personal Finance magazine xiv Switching Careers Preface E ars prick up... schools and community colleges conduct evening and weekend classes Hands-on skills as a chef or carpenter can be learned by moonlighting There’s little reason that co-workers or a boss need know that you re Switching Careers 5 L E AV I N G B E H I N D ‘ A F O O L I S H C O N S I S T E N C Y ’ considering a new career This way you learn while you re still a paid employee MYTH: Career changes can be made within... but it won’t be taxed when you withdraw it • If your 401(k) money is managed by one of the major fund families, such as T Rowe Price or Fidelity, and you ve been happy with your investments, you may be able to exit your company plan but stay within the fund family Some fund firms will arrange an inside rollover—a quickie transfer from your 401(k) into a rollover IRA at the same firm Switching Careers. .. corporation, and you own company shares in your retirement account, you may want to hold on to that stock Find out whether shares can be transferred with little or no cost If taking your money means the stocks must be liquidated, however, you may want to stay put • Can you leave the money where it is? If your current investments are performing well, and the rules permit you to stay in the plan even if you leave... to career dissatisfaction is to retire in one’s 50s and avoid the challenge of a career change Others acknowledge this challenge in their 30s and 40s and switch careers By age 65 they will have spent, say, the first 20 years of their work lives as a banker and an equal number of years teaching school Career changers under age 30 have the luxury of switching careers on a whim Tired of teaching or writing... so that how- to advice and statistics did not become overwhelming The profiles provide the balance—showing real-life examples of men and women who switched careers in their late 20s to early 50s Finding the Career Changers I feel at home writing about career changing I switched careers in my mid 50s, when after decades in public relations, I decided once again to use my writing skills to write on subjects... nearly 70 career changers For many people, deciding to switch careers begins with or proceeds from a series of casual conversations, like those I just described They re sniffing out the possibilities Reading this book is like attending a cocktail party with 70 career switchers who have accepted the invitation to share their stories with you All of the people I interviewed have changed careers within the... come the possibility of greater economic freedom and an ability to change careers without suffering a serious financial setback • You want to “make a difference.” Regardless of the position or title they hold, many people feel that they are only cogs within their organizations, and they want to do work that they view as important—for their own sake and, often, for the sake of others Once you ve made the . alt="" switching careers Robert K. Otterbourg Career Changers Tell How and Why They Did It. Learn How You Can, Too. switching careers OTHER KIPLINGER BOOKS Kiplinger’s Practical Guide to Your. Robert K. Switching careers : career changers tell how and why they did it : learn how you can too / Robert K. Otterbourg. p. cm. Includes index. ISBN 0-938721-86-0 (pbk.) 1. Career changes United. BOOKS Washington, DC switching careers Robert K. Otterbourg Career Changers Tell How and Why They Did It. Learn How You Can, Too. Published by The Kiplinger Washington Editors, Inc. 1729 H Street,