HOW TO GROW YOUR MONEY WITH THE RIGHT INVESTMENTS : Mutual Fund Investment

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  ALL YOU NEED TO KNOW ABOUT DOLLAR AND MONEY MARKET MUTUAL FUND INVESTMENT After our recent seminar on investment, a lot of participants have contacted me to write on the subject for easy reference. Thus, today we'll be focusing on money market and dollar mutual fund investments. Money market investments are short-term, highly liquid assets that provide a safe place to park cash. Dollar mutual funds, on the other hand, invest in a variety of short-term debt securities issued by the U.S. government, corporations, and municipalities. WHYSHOULD YOU CONSIDER INVESTING YOUR FUNDS? Investing your funds can potentially offer several benefits. Firstly, it allows your money to grow over time through the power of compounding. By putting your money into various investment vehicles like stocks, bonds, or real estate, you have the opportunity to earn returns that exceed traditional savings account interest rates. Secondly, investing helps you hedge against inflation. Over time, the purch...

TIPS AND TRICKS ON CAREER CHANGE| How To Change Career Path For Lifelong Success


Every career progression is unique. However, the majority of people begin their job paths in their early 20s, before they have fully developed into the adults they will be for the rest of their lives. The fact that 29% of people have entirely changed fields after beginning their first job after graduation comes as no surprise. Many people commence their careers to find out later that it is not the right one for them. Making a career transition might be difficult. However, it is also a teaching opportunity and can help you escape the misery of being trapped in an incorrect career.

A successful career transition can release you from your current situation and propel you to greater heights.

1. Why Do You Want a Career Change?

It is the initial step; according to a survey conducted in 2021, 39% of those searching for a job change are -driven by the prospect of earning more money. But not everyone will find this to be the absolute truth. There are many different reasons why people change careers. Here is a list of some of the most typical causes:

• Not content with what you do

You need flexible hours because You're not very good at what you do; You want your work or career to pay you more; Your lifestyle and the career you have are incompatible; You feel stuck in your current career and need to advance it.

Most often, one or a combination of several of these variables leads people to consider changing their careers.

2. What is Your Current Career? 

This is the next step.

The next step after making the decision to change careers is to evaluate your current career. You need to assess your actions in light of how they may affect your future career. This stage can be further divided into a number of action items:

Make a list of the skills you possess and their market value; you can assess your abilities by taking an online test. Assess how many years of experience you have and what those years are worth in the job market.

 

ADVICE: Being analytical and data-driven while selecting a career will help you in the proper route. But a career is more than just math; it's what a person will do every day. Make sure your choice is something you like. Don't abandon your intuition.

• Make a realistic calculation of how much money you make or how much money you need to sustain yourself during your career change.

 • If you have liabilities, such as dependents, include their expenses in your calculation.

ADVICE: Because the period of changing careers can be uncertain, it is ideal to establish a runway of funds and relevant skills to help you get through it smoothly.

3.  What New Career Do You Want to Start?

The third step in the new career process is to narrow down the career opportunities you want to pursue. To accomplish this, conduct research and make a list of potential career paths.

If you've already decided on a career path, you've already completed half of the work. If not, you must take the following steps:

• Before making a list of potential new careers, define your career goals — high pay, growth, job security, mental satisfaction — be specific about what you want.

• Make a list of potential options while keeping your career objectives in mind.

• Conduct a SWOT analysis (strengths, weaknesses, opportunities).

Consider your aptitude while picking a new career; you should evaluate what you are good at rather than just the benefits. Narrow down your selection until remaining with three options that have the potential to serve as your future career.

 These are the new career alternatives you have & you must select one.

  • ADVICE: Clearly state your motivations for changing careers. When you see your passion for the new career path is dwindling in the face of difficulties, keep recalling this rationale.

A career is more than just math; it's what a person will do every- day. Make sure your choice is something you like. Don't abandon your intuition.

4. How Do You Prepare for a Career Change?

a.       Identify the gaps: You must assess yourself and identify the skills gaps that you require for your desired role. Sometimes the gap is not a skill but rather some hands-on experience.

b.      Find a mentor: When embarking on an unknown path, it is best to have a mentor who has already walked that path. Choose someone you aspire to be like in your career and follow their path to see how you can improve yours.

c.       Obtain the required degrees/certifications: You can advance in your career in two ways: by rising through the ranks or by obtaining the appropriate degrees. While working is not harmful,

d.      Acquire industry knowledge: If you are changing your industry with your professional role, you must be well-versed in the industry you wish to enter. Read voraciously and from trustworthy sources. You can also subscribe to industry experts' bloggers.

ADVICE: Choose a mentor who is approachable and eager to share information with you rather than someone who is well-known but difficult to get in touch with.

The logical next step after choosing the new career you wish to pursue is to get ready for the change. Furthermore, this can also be broken down into a few clear steps.

 

How to Finally Change Jobs That Will Change Your Career: What Is the First Step?

a.       All that's left to do is jump right in and switch roles once you've thought through the advantages and cons of your career transition. You still need to take a few steps to shift your job. They are:

b.      Network, network, network: By following people who work in your field on LinkedIn, you may create a vibrant community for yourself. Make friends with the hiring supervisors and establish a rapport.

c.       Create a fresh resume: Do not submit your old CV when applying for your new position. Create one that is pertinent to your new profession. You can find plenty of internet resources to aid you through the presume-rewriting process.

d.      Create your portfolio: You must have a portfolio prepared if you are switching careers, and must demonstrate your body of work. Try some

e.       Conduct a thorough job search: Look for positions that fit your requirements and begin applying. That is the last action before making

ADVICE: Before you start pursuing job vacancies while networking, first establish a rapport. Besides, use LinkedIn to your advantage by sharing articles and other content to keep your profile front of mind.

If you are 30 years old and want to change careers but cannot afford to quit your work while; you up-skill, you may want to think -about taking online courses to acquire the necessary knowledge and credentials. 

 Read More educational publication here: 

HOW TO NETWORK JOB OPPORTUNITIES 

TIPS TO BECOME A CHAMPION: Success Manual for Aspiring Achievers   

 Tips on How to Land Yourself a Dream Job| Learn How you can get that Dream Job

Kingsmond Ehimare is a career and leadership coach, speaker, and educator.

 This intellectual property belongs to KCmond Consulting.  No part of it is expected to copy or publish without the sole permission.

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