As more of us work later in life and the average UK citizen having 12 jobs during their lifetime, starting a new career at 50 is becoming more common. Changing careers at 50 can be a rewarding move, offering the chance to turn a hobby into a viable career, but it requires careful consideration of the calculated risks involved.
Here, Legal & General have provided some valuable insights and key factors to consider when planning a career change at 50 and above.
There are 3 key questions you need to ask yourself if you are considering a career change:
- What’s your biggest passion? Life’s too short to spend your entire working life doing something you don’t enjoy. If you’re in a financial position where you can take a calculated risk, why not turn a hobby into a viable career change at 50?
- Do you have dependents? Your freedom to start a new career may depend on your responsibilities, whether that’s raising children or caring for an older relative, for example. But if your children have flown the nest or your schedule is lighter than usual, it might be the right moment to start a new career at 50.
- Do you have the right skills? In a world of rapid technological change, getting new skills at 50 can boost your employability prospects as industries evolve. Retraining in your 50s is also a chance to get new qualifications and credentials to stand out from the crowd.
With the default retirement age of 65 removed and the State Pension age set to rise from 66 to 67 between 2026 and 2028, with a possible review for a further increase to 68, changing careers at 50 is becoming more common.
If you’re wondering how to take the plunge, here are some steps you can take to forge a new career path at 50:
- Update your CV: If your CV or portfolio is gathering digital dust, is it time for a revamp?
- Start networking: If you have the ability to commit the time, networking can be a great way to boost your connections and make new career choices in your 50s.
- Use your contact book: Job candidates who’ve been referred by a contact are often more likely to get hired. Do you know anyone from your past who could vouch for you?
No two individuals are the same, so there’s no one-size-fits-all career advice for those over 50. However, Legal & General have provided a range of ideas based on different career wants and goals to help inspire those considering a change.
I want a slower pace: If you’ve been working in a fast and frenetic role with daily deadlines, it’s understandable if you’d rather change your career to a slower-paced job in your 50s. This may particularly be the case if you have challenges with your health, such as mobility issues. Potential slower-paced jobs include:
- Librarian
- Admin Assistant
- Receptionist
I want a shorter commute: In a world where working from home has become a reality for many, it’s possible to carry out some jobs without leaving the front door. Some remote roles include:
- Software Developer
- Bookkeeper
I want a stable job: No job is entirely future proof, especially with economic shocks and emerging trends like artificial intelligence. But if you’re looking to retrain in your 50s to a more ‘reliable’ role, here are some examples of jobs that might offer more job security:
- Nurse
- Hairdresser
- Teacher
I want to be self-employed: If you’ve worked in a nine-to-five role throughout your working life, self-employment might offer an attractive change of careers in your 50s. Self-employed roles can include:
- Freelance writers or editors
- Tutors
- Tradesperson (electricians, plumbers, painters & more)
To learn more, click here: Starting a new career at 50 | Legal & General (legalandgeneral.com)
