Navigating mid-career turning points
As people live longer, we need to rethink how we plan our careers and finances. The Stanford Center on Longevity has proposed The New Map of Life, mapping out a possible 100-year life. With the opportunity to keep learning throughout life, mid-career professionals can transition into entrepreneurship, social impact careers, or freelancing, and can use their existing career relationships to help them
Source | economictimes.indiatimes.com | Debleena Majumdar, ET Online
Switch on the news or turn to social media, and you will often find stories of people in their seventies, eighties, and maybe even nineties, trying new things and living a life filled with work and passion. This is because our life expectancy has improved.
The Stanford Center on Longevity has in fact come up with an initiative called The New Map of Life, a map for a possible 100-year-life. Given the fact that many of us might live longer than what was thought possible earlier, there is more opportunity to keep learning throughout life, instead of thinking of education as a linear activity. There are also more options to plan work years with more flexibility.
Simply put, we might be able to live and work longer. This could mean we should plan our work and our finances in ways that are different from what we are doing now: Save for a longer time; and instead of thinking of a career at a stretch followed by retirement, we can think of multiple career options that suit our needs. Today’s mid-career may just be the beginning of a new career in this paradigm.