749b mms: career change at 34 - Josh is in the process of moving from construction
Dec 4, 2024
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Josh shares his journey of leaving construction to pursue finance at 34, driven by a search for fulfillment. He discusses the emotional and financial hurdles of this transition, including selling his home to fund his degree. The conversation emphasizes the importance of networking in financial services and the need for a financial safety net. Listeners are inspired to embrace change, highlighting how passion can lead to a more satisfying career, even when it means taking significant risks.
Josh's journey highlights that passionate career changes are achievable at any life stage with commitment and proactive planning.
Balancing family life and education, he emphasizes the necessity of financial planning and support during significant career transitions.
Deep dives
Navigating Career Transitions
The importance of pursuing a career change rooted in passion rather than desperation is highlighted. Moving away from a stable but unfulfilling career in construction, the individual is actively seeking opportunities within the financial services industry. Embracing the challenges of such a transition, he emphasizes the necessity of commitment and the understanding that change is not instantaneous. His story serves as inspiration for others feeling stuck in their careers, proving that it is possible to pivot at any stage of life.
Investing in Personal Growth
The decision to invest in education and personal growth is underscored, showcasing the journey of strategizing financial education. By choosing to study a Bachelor of Commerce with a focus on finance and financial planning, he lays the groundwork for a future career in financial advisory. His exposure to podcasts and self-help resources helped ignite his interest in this new field, particularly his first encounter with 'Rich Dad, Poor Dad'. This illustrates how seeking knowledge and resources can significantly influence one’s career path.
Balancing Family and Ambitions
The dialogue captures the challenges of balancing family responsibilities while pursuing professional ambitions, especially with a young family. As a father of two toddlers, he describes the demands of maintaining both a construction business and academic life with minimal sleep and plenty of coffee. Support from his partner plays a crucial role in managing their busy household during this phase of transition. This balance illustrates the sacrifices necessary for personal and professional development, marking the reality many face during career changes.
Financial Considerations in Career Change
Significant financial planning is crucial during transitions, particularly when considering the income drop associated with changing careers. Selling an investment property to finance education demonstrates a brave choice aimed at securing future stability. He acknowledges the necessity of building a cash surplus and maintaining a lean operational budget while engaging in this process. Through prudent financial management, he prepares for the uncertainties ahead, signaling the importance of financial literacy when navigating career shifts.
In this my money story, Glen chats with Josh, a 34 year old listener transitioning from construction to financial services. Josh's story touches on selling his first home to fund his degree, balancing family life with full time study and the steps he's taken to make the move. This episode is a great example that career changes are possible if you’re willing to take action.
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