Many of us work a day job but diligently save as much as we can toward retirement. I now allocate more than 35% of my earnings for investments accounts so that I can retire in six years. But what if you want to change jobs? How do you know if the new job will be a good move?
Here are a few considerations when evaluating a potential career move:
- Pay rate and required hours. Will you be working more hours for less pay? If there is a pay increase, figure out what that will mean annually.
- What will you learn in the new job? Is it a skill or profession that you could use independently after retirement as a consultant?
- Will the new job provide paid training and certifications that will add value to your current skill set?
- Does the employer offer benefits that effectively increase your pay? Do they offer a high deductible medical plan that allows an HSA?
While there isn’t a magic answer to the question, you can figure out if a move will be beneficial to your future plans.