Second Careers: 5 Meaningful Financial Facts To Consider When Making A Career Move Over 40

Ajay Nagpal

Down-sizing is an unfortunate reality in the modern business world, even when you are over 40 years old. How can you regain traction in your financial life?

Here are five significant financial facts to consider when starting a second career after 40 years old.

Starting Second Career

You are no longer a “spring chicken” and starting over can be a challenge. If you adhere to these career tips, you can optimize your chances for success. You need to be realistic, but also energetic. Follow these five significant facts to get your second career, off the ground.

1. Accrued Benefits

While you work, you accrue benefits that could include stock options, a 401(k) plan or pension. You have many options for your 401(k) plan, including cashing it out or rolling it over. Remember, that these include both yours and your employer’s contributions.

If you cash out, you must pay 20% federal withholding taxes plus a 10% early withdrawal fee. The 401(k) rollover allows you to re-balance the investments in the portfolio. This makes sense because your life has changed – you want your assets to reflect your new life.

2. Rethink Mortgage

You set up your housing finance based on your employment expectations. When you are let go, you might want to change your housing loans, consider refinancing or even getting a HELOC.

3. Keeping Skills Relevant

You might have started your job, a decade ago. It pays to update your skills. Use downtime efficiently.

4. Prime Working Years

After graduating from college, you might only qualify for certain entry-level positions. If you figure that your prime working years are from 22 to 65, you are in your mid-life when fired at 40. But, you do have valuable experience that allows you to qualify for certain higher level positions.

5. Experience Pays

Do you know how many college graduates would love to have your experience? Now you can be eligible for a couple of these high-paying jobs: Financial Analyst, Fundraiser or Social Media Manager. You have paid your dues, now cash in with a higher paycheck.

Losing your job over 40 can be a shock, but take advantage of the situation to find a better job. You are mature and experienced. Find a second career that pays you top dollar for your valuable, accumulated experience.

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13 Promising Fintech Startups to Watch in 2017

13 Promising Fintech Startups to Watch in 2017” was originally posted on Ajay-Napal.com. Please visit that site to view the entire piece.


13-fintech-startups-to-watch-in-2017-ajay-nagpal

Plainly, the financial industry is abuzz with new fintech startup enterprises, many firms bolstering new technology and innovative ideas. In the upcoming year, we’re promised to see increased performance by these dynamic financial technology firms.

An example of a new business that’s waded through the thick and crowded banking and financial sector is Due.com. Due.com is incredible firm, which publishes daily content for its tens of thousands of users, and it offers an invoicing service that allows customers better access to reports, data, and software for the digital design of logos and invoices. Read on to learn the names of other startups that promise to make a splash in 2017:

SoFi: SoFi is brilliant because it manages to offer opportunities for refinancing personal debts and students, as well as MBA loans and mortgages. More than that the platform, which offers opportunities to investors, has acquired approximately $7 billion in outstanding loan volume. The tech newcomer proves that need-based apps that tip toward newness can easily draw the eyes and interests of users and investors.

Planwise: The data-driven tool that was developed in partnership with inSTEDD. The platform allows planners and responders in low-resource settings to service and emboldens others in cost-effective ways. The platform was designed to assist the needy with confidence and skills in financial planning. The user-friendly software program assesses financial situation illustrates monetary goals and offers plans-of-actions. Tools for accessing financial milestones, choosing the right mortgage, and managing a personal loan are facilitated by the platform. PlanwiseConnect is an affordability browser created by the browser, which integrates all property websites in the U.S.

LendUp: This platform is a payday loan alternative that offers credit cards and online loans. More than that, free financial education and opportunities for credit building are made possible through this platform, which helps users to avoid debt. The LendUp Ladder program helps responsible borrowers to avoid debt, offering them better rates and longer terms on future loans….


Ajay Nagpal is the Chief Operating Officer at investment management firm Millennium. Ajay Nagpal supports social entrepreneurship through his work as a Board member of Echoing Green. Please visit his finance blog to learn more about economics! Also, find him on Behance!