How to Make a Career Change at 50 and Live Out Your Best Life (2024)

The opportunity to reinvent yourself and chart a new career path at midlife is well within your reach. And what was once an unthinkable idea has become increasingly common for many people in their 50s. So, if you’re considering a career change at 50, the good news is there are likely many possibilities that you never imagined before. As the great novelist George Eliot once said, “It is never too late to be what you might have been.” After all, age is just a number, right?

Whether you’ve lost your job due to industry decline or downsizing, or you’re ready to pursue a passion career that aligns more with your values and interests, it’s not too late to set out on a new journey. And although you may be feeling overwhelmed, anxious, or worried about starting over at 50, remember many people successfully change careers at this stage in their lives.

As long as you have patience, determination, a purposeful strategy, and a confident attitude, a career change at 50 can be a rewarding and positive experience. Most of all, it requires some in-depth work on your part to explore how you want to spend the next chapter in your professional life, as this could be your last career transition.

So, if you’re wondering, “Is there still time for me to start a new career at 50?” the answer is a resounding yes! Read on as we provide you with a clear roadmap for finding a new and purposeful midlife career that you’ll love.

Is a Career Change at 50 Possible?

While it doesn’t come without its challenges, changing careers at 50 is more than possible. And the truth is, you’re at an advantage because getting older typically brings its own benefits that you should eagerly celebrate and embrace. Most likely, you can look back nostalgically at your youth and not have the desire to relive it.

The uncertainty and anxiety of your younger years are likely replaced with a sense of acceptance, wisdom, calmness, and self-awareness once you reach your 50s and beyond. And these traits you’ve gained throughout your life free you up to make choices that align with your higher purpose.

Reasons for Making a Career Change at 50

Your reasons for changing careers are unique, and there is no one-size-fits-all answer. However, by exploring your motivations and goals, you can identify whether a career change at 50 is the right path for you. Here are some of the most common reasons that may apply to you:

Lack of fulfillment: After years or decades working in the same job, you may find that you're no longer passionate about what you do. Perhaps you find yourself craving something new and exciting that aligns more with your passions and interests.
Financial reasons: As you get older, your financial needs can change. Maybe you need to earn more money to support your family, pay off debts, or save for retirement. Changing careers can be a way to increase your earning potential and achieve greater financial stability.
Need for a better work-life balance: As you come into your midlife, you may want to prioritize your work-life balance more and seek out new career paths that offer more flexible schedules or the ability to work from home. A career change at 50 can allow you to balance your work and personal life, enjoy more time with your family and pursue your hobbies.
Changing industries: If you have lost your job due to industry decline or downsizing, it may be a good time to consider changing careers. The needs of the job market often change over time, and some industries may become less desirable or less lucrative than others. Starting a new career at 50 may be a way to pivot into an industry that is growing and offers better long-term prospects, or simply an exciting job that didn’t even exist earlier in your career.
Burnout: After years of working long hours or in high-stress environments you might have experienced burnout. Changing careers can be a way to reduce anxiety and improve your overall well-being.

What are the Benefits of Pursuing a Career Change at 50?

Starting over at 50 can be a wise and rewarding decision if you're ready for a new challenge and want to pursue work that aligns with your interests, passions, and values. It can also be a transformative experience that opens up new doors in your life. Here are some of the benefits:

New opportunities: You'll have the opportunity to learn new skills, take on different challenges and pursue new interests. This can lead to greater personal and professional growth, excitement, and fulfillment in your work.
Increased earning potential: By transitioning into a new career path, you can negotiate a higher salary or pursue a career in a higher-paying industry. This can be especially important if you need to save for retirement or support your family.
New social connections: A career change at 50 can provide you with opportunities to build new social connections. This is especially valuable if you are transitioning into a new industry or field, as it can help you build a network of contacts and mentors who can support you in your new career.
Career longevity: You can extend your career longevity and continue working well into your 60s or beyond. Pursuing a new career path that aligns with your skills and interests can provide greater job security and financial stability in your later years. It can also allow you to continue contributing to society in a meaningful way.

How to Change Careers at 50: A Step-By-Step Guide

Now that you have a better idea of why starting over at 50 could be your best decision, we’ll show you exactly how to change careers at 50. Be aware that this is not a quick-fix plan. It requires careful research, preparation, self-reflection, and assessment. Above all, the key is to be open and honest with yourself and willing to make adjustments as you go. Here are some practical steps to help you transition as smoothly as possible:

Assess Your Current Situation

The first step is to assess your life and career and determine what you like and dislike about it. Ask yourself some evaluation questions, such as:

What do I really want?
What am I good at?
Do I want a higher salary, a better retirement plan, or more flexibility?
What motivates me, and what doesn't?
Do I need to make a radical change or a more subtle one?

This assessment will help you figure out what you want to keep in your next career and what you want to leave behind. Consider what you have achieved so far and what your strengths and weaknesses are. Ask yourself if you still feel fulfilled in your current career and if it aligns with your long-term goals.

Explore Your Interests and Passions

Pursuing a career change at 50 can allow you to pursue work that aligns with your interests and passions. Take the time to explore different fields and job roles you're curious about. This exploration will help you identify what type of work resonates with you and the industries you’re most interested in. Consider volunteering or taking classes to gain hands-on experience in a new field. If possible, dip your toe in before taking the leap.

Identify Your Transferable Skills

Your current skills, strengths, and experiences are valuable assets you can apply to a potential new career. Write down your key skills, such as leadership, problem-solving, communication, or time management and consider how they can be used in a different industry or field.

Also, take inventory of your personal strengths, such as adaptability, critical thinking, or creativity. This step can also help you pinpoint what skills you need to develop or acquire.

With all this information on hand, look through job postings in your target industry and match your skills to the job requirements. However, keep in mind, you will likely have skills that can be applied to multiple occupations and industries such as attention to detail, organization, teamwork, and interpersonal skills.

Create a Career Plan

Based on your self-assessment, transferable skills, and research, create a career plan that outlines your short and long-term goals and the steps needed to achieve them. This plan can include any additional education or training you might need, how to use your network, and updating your resume and cover letter to target your new career. A well-thought-out plan for your career change at 50 can help you stay on track and focused as you work towards your transition.

Network and Build Relationships

Networking is an essential part of changing careers and can be a powerful tool in your transition. Consider attending industry events, joining professional associations, and connecting with people through online business platforms to build relationships and gain insights into your target industry. And at 50, you’ve likely already built a broad network. So, talk to friends, acquaintances, and prior colleagues to gain advice and valuable information.

Create a Powerful Resume

Now that you've done the bulk of your research, it's time to develop a strong resume highlighting your skills and conveying your unique value proposition to potential employers. A hybrid resume, also known as a combination resume, is an excellent option as it combines the best elements of a chronological resume (listing your work experience in reverse chronological order) and a functional resume (emphasizing your skills and accomplishments.) This format can be especially useful when changing careers, as it allows you to showcase your transferable skills and relevant experience.

In your cover letter, address your career change and explain why you're interested in the new field. Remember to use positive language and focus on your strengths and potential contributions to the company. This can help offset any employer unconscious bias about your experience.

Prepare for Job Interviews

You’ll also need to convey your reasons for your career change in your job interviews. You’ve got to sell your transferable skills and demonstrate your willingness to adjust and acquire new knowledge in your target field. When you come equipped with examples of transitions and hurdles you’ve overcome, it can help to make a great lasting impression. We suggest preparing a concise elevator pitch that presents a story, connecting the dots between your past and future goals.

Second Career Ideas for Over 50s

At this point, you should have a good idea of what you want from your new career. However, it’s important to review a few questions to help you narrow down some career options:

Do you want to make an easy transition into a career where you can use your current skills?
Are you ready to take the leap and head in a completely different direction?
Are you focused on remote or more flexible jobs?
Do you value meaning over salary?
Does your desired role require a degree or certification?
Are you willing to spend time and money on retraining?
Are you willing to take a pay cut?

A great place to start is the U.S. Bureau of Labor Statistics’ list of the fastest-growing occupations. Have a look and see how they match your interests, skills, experience, and goals.

However, you may be looking for more ‘age-friendly’ jobs that offer less exertion, more flexible schedules, greater use of social skills, and less harsh working environments. In this case, consider the following careers:

Consulting: Consulting jobs are a great option if you have years of experience in your field and want to continue using the knowledge and skills you already have. You’ll also be able to set your own hours or work from home. To enter this field, you’ll typically need a bachelor’s degree in business, economics, business administration, or a related field. And this industry pays well. For example, a business consultant makes a median salary of $88,319, and a financial consultant makes around $81,852.
Customer Service: Jobs in customer service can be a great fit if you enjoy working with people and want flexible scheduling options. In this field, you can find various jobs such as retail sales associate, call center specialist, or office receptionist, and you’ll generally only need on-the-job training. Salaries can vary from $30,000 to $35,000 per year.
Education: You can find many rewarding careers in education that allow you to make a positive impact on the lives of young people. You could work part-time as an adjunct professor if you have a degree in higher education. As a college professor, you’ll typically make around $58,208 per year. And with the rise of online education, some teaching jobs may not require you to travel to campus.

Are you willing to take the leap and make a completely different career change at 50 by investing time into obtaining either a degree or certification? Making the shift into a stable, high-paying, and in-demand career can pay off in the long run. Here are the industries offering some of the best jobs to retrain for at 50:

Healthcare: The healthcare industry is one of the largest and fastest-growing sectors. And while some roles, such as registered nurses and mental health specialists, require a bachelor’s degree, others, such as radiology technologists and medical billers and coders, typically only need certifications. You can make as much as $71,194 as a mental health counselor, and your earning potential as an operating room registered nurse can be as high as $110,575.
Information Technology: When looking for a career change at 50, the IT industry is a lucrative and fast-growing field that offers many paths. Roles in IT include cyber security, software development, data science, and computer engineering. You’ll need strong analytical skills and be comfortable working within a rapidly evolving technological landscape. Many IT careers require a bachelor’s degree, but you could obtain technical certifications through vocational schools or community colleges. For many jobs in IT, you can expect to make upwards of $100,000 per year.
Finance: The finance industry offers many flexible opportunities, including financial analysts, chief financial officers, and business analysts. These careers require excellent problem-solving and an understanding of financial markets. Most employers require a bachelor’s degree in finance or accounting, but the return on investment is high. A chief financial officer can make as much as $153,394 per year, while a senior financial analyst can earn up to $96,733.

How to Overcome the Challenges of a Career Change at 50

No one ever said that change would be easy, but in the end, it's worth it. Conquering the trials and tribulations of starting over requires a combination of the right mindset, skill-building, and support. Here are some strategies to help you overcome some common challenges:

Address ageism head-on: Be aware that some employers may be hesitant to hire older workers, assuming they are less adaptable, tech-savvy, or less productive than younger workers. While age discrimination is illegal in the U.S., to combat unconscious bias about your age, stay current with technology and industry trends and highlight your willingness to learn and adapt to new challenges.
Plan financially: Before making a career change at 50, assessing your financial situation and planning accordingly is essential. Consider the potential costs of education or training and develop a budget and financial plan that supports your goals. You may also want to explore options like part-time work, consulting, or freelance work to supplement your income as you transition to a new career.
Stay resilient: Rejection and self-doubt can be challenging, but it's crucial to maintain a positive attitude. Don't take rejection personally and use it as an opportunity to learn and improve your approach. Surround yourself with a supportive network of friends, family, and professionals who can provide encouragement and support throughout the process.
Face your fears: Fear of the unknown can be paralyzing, especially if you're not sure what to expect or how you'll adjust to a new work environment. However, it's essential to face your fears and take action. Consider seeking support from a career counselor or coach who can provide guidance and help you stay on track. Break down your career change into smaller steps and celebrate each small win along the way.

Embark on a New Midlife Career You Love

Reinvent yourself by making a career change at 50. Start by signing up for a free profile on Monster. Upload your resume, and we’ll help showcase your years of experience to potential employers looking for skilled and passionate candidates. We also send you job alerts and expert career advice to help you find a meaningful and rewarding career at 50 and beyond.