1. Can You Afford a Pay Cut? Making a parallel or vertical move in your own field likely won’t come with a pay cut. But starting out in a totally different pasture means the grass may not be greener at first. Ask yourself if you can take a little less pay until you move up in the ranks.

Age 50 is a great time to consider this option since your household occupancy might change soon. If you’re sending kids off to the workforce, military, or college, your grocery, electrical, water, cable, and just about every other conceivable bill should be lowered, particularly if your child has a scholarship or financial aid for college. You can also consider downsizing your home if your nest is getting emptier, which lowers your rent or mortgage payment, offsetting any reduction in any wages.

2. Do You Need a Pay Raise? In contrast, some people make a career change at 50 because their current field isn’t meeting their income needs. By age 50, expenses can begin piling up: your teenager needs auto insurance and possibly a car; your family home costs more than the apartment you rented in your 30s; your house and car now have some age on them, and repair bills are accumulating.

Changing careers at age 50 is a great option for those who are burdened by expenses they can’t cover in their current profession. Weigh the costs of making the change (extra training, courses, commute, attire, etc.) to ensure you can afford the transition. 

3. Are You Willing to Relocate? Some people are lucky enough to step from one corporation into a new industry right down the street. But others need to be open to moving to start over in a new career. Check out your local job listings and talk to friends and family to determine if a move is appealing to you.

If you’re approaching an empty nest, this might be the perfect time to relocate. If moving isn’t an option, contact a local headhunter or career coach to scout out opportunities in your vicinity. Or take advantage of the multiple career options that are now virtual, so you can work from anywhere. 

4. Is Insurance a Factor? If your current job provides health insurance, make sure your new career options offer similar benefits. If your current career provides no (or inferior) coverage, that’s just one more reason to head in a new direction. You’ve put significant time into honing your skills, so you deserve an employer that values your wellbeing. 

5. What Career Goals are You Trying to Achieve? Do you want to earn more, have more autonomy, have more input, have more flexibility, or have more variety? Keep in mind, your career goals at age 50 might be different than they were at age 25. Be honest with yourself about what you truly want, and don’t settle for jobs that won’t facilitate those goals. Now’s the time to ask for those things you might have been afraid of when you were younger. 

6. What are You Looking for in Your New Career? Some people literally want a change of pace, a change of scenery, or a change in opportunities. Others want to learn something new or be part of an emerging field with new technology, innovation, or research. Don’t just switch into something different without deciding why your other job feels “old” and what would make it feel “new.” Look for those fresh features in your new employer, so you’re invigorated to begin.

7. Have Your Strengths Changed? Maybe you were an extroverted people-person at the start of your career, but years of conference calls have you longing for more solitude. Analyze how your gifts have evolved over the years. Maybe now you’d prefer big-picture strategizing and facilitating, more than micromanaging or overseeing. Update your resume to reflect how you want to be useful in your new career.

8. Where Do Your Daydreams Take You? Avoid falling into the trap of choosing what you “should” do next, and listen to that soundtrack that plays in the background of your mind. What do you find yourself daydreaming about doing? Do you want to work remotely? Look for ways to incorporate your daydreams into reality to make your job more appealing. 

9. What’s on Your Bucket List? Too often, people postpone their bucket list until they are retired, and sometimes then, health or cost prohibits those dreams from being achieved. Choose a job now that allows you either the financial freedom or schedule flexibility to do what matters to you. If you like to work 24/7, by all means, do it! But if you want a little more work/life balance than you had in your younger years, choose accordingly. 

10. What Makes You Most Excited About a Career Change at 50? When you think about changing careers, what’s the first thing that pops in your mind? When you choose your next career, look for those factors in the interview process to make sure you’ll be happy with your decision. In many ways, the very idea of a fresh start is enough to generate excitement!

How to Find a Job as a 50-Year-Old