Career change at 40!

rachaelwaa

Hi All - this is a long one!

I’m 40 this year, have the opportunity of redundancy from a role I’ve been in for 10 years. I have a 16 month old baby and I’ve recently become a single mother! I have lots of great support and am very fortunate to have lots of savings behind me in addition to a few low value rental properties.

I have 10 GCSEs all A*’s, A-Levels BCC, I have an undergraduate degree and a masters (both in construction related disciplines).

I’ve not enjoyed my current job or industry for many years so I’m quite tempted to take redundancy however I’m very aware of the economy, market and the sheer number of companies making redundancies at the moment which is quite frankly frightening. I have a large mortgage but the property is currently on the market (currently living with parents).

My passion has always been beauty but I’ve been used to a high salary for years (currently £65k 😬) and I don’t feel as if I would make the salary that would support the lifestyle I’ve become accustomed to!? I would be interested in the aesthetics route, however, I’d need to have a medical background for this (given upcoming regulations) and I only had a “C” in A-Level Biology which I believe means I’d need to redo this in order to progress to a medical related degree.

I had also thought to open a play cafe locally as there are none in the area but I would struggle to earn even minimum wage whilst working 7 days a week from initial calculations. I have signed up for a barista course in case this does happen. I have also signed up for many free business courses.

After having baby I’m wanting flexibility. However, baby’s father has taken me to family court so currently has baby every other weekend so I have free weekend time which I’d like to make use of to work as a distraction from not having my son. I’ve always imagined working for myself. In terms of my skills, I’m incredibly organised, thorough, a bit of a perfectionist.

Does anyone have any ideas? I feel as if this is my last opportunity to pivot to a day job that I will actually enjoy for the next 20 years!

Thankyou if you got this far!

El_Torro

Good luck with whatever you decide to do. It's not easy for anyone to change careers, let alone someone who's recently single with a small child to look after. 

Whatever you decide to do you'll probably be earning a fair bit less than you do now, at least for some years to come. From your post it seems you appreciate this already, worth reinforcing though. 

One thing that does stand out from your post is your current thoughts on careers. At one point you say you want to pursue a medical career, then you say you want to own and run a cafe. Two very different career paths. I can't give advice on either route but it's worth understanding what's important to you and focusing on that.

elsien

What is your current role and what do you like and dislike about it?
As above, play centre, barista or beauty therapist - it’s hard to see the common link there.

YBR

I suspect the common link is people, do you like people (more than engineering/construction)?

Can you combine the two to provide a play centre with treatment spaces and cafe? Where the kids entertain themselves while parent(s) receive beauty treatments. I can see several issues or queries over how that might work ... just a "starter for 10".

rachaelwaa

El_Torro said:

Good luck with whatever you decide to do. It's not easy for anyone to change careers, let alone someone who's recently single with a small child to look after. 

Whatever you decide to do you'll probably be earning a fair bit less than you do now, at least for some years to come. From your post it seems you appreciate this already, worth reinforcing though. 

One thing that does stand out from your post is your current thoughts on careers. At one point you say you want to pursue a medical career, then you say you want to own and run a cafe. Two very different career paths. I can't give advice on either route but it's worth understanding what's important to you and focusing on that.

Thankyou, I appreciate your response! 

rachaelwaa

elsien said:

What is your current role and what do you like and dislike about it?
As above, play centre, barista or beauty therapist - it’s hard to see the common link there.

I’m currently a senior project manager in construction. The only thing I like about it is the salary and favourable terms and conditions! I dislike the meetings, the corporate environment, the fact that we are now building more than ever on greenfield sites. 

The beauty therapy/aesthetics would be a passion. The play centre is something I’m considering as there is a gap in the market in my local town for a space for new mothers and babies. The barista course is linked to this venture. Thanks for responding! 

rachaelwaa

YBR said:

I suspect the common link is people, do you like people (more than engineering/construction)?

Can you combine the two to provide a play centre with treatment spaces and cafe? Where the kids entertain themselves while parent(s) receive beauty treatments. I can see several issues or queries over how that might work ... just a "starter for 10".

I do like people. Also I feel I would be very good at running my own business which may also offer more flexibility. Thanks for your suggestion, I think perhaps the relaxing environment for beauty treatments might not work with the busy / chaotic environment of a soft play but I like your thinking - thankyou!

Savvy_Sue

There may be a gap in the market for a play cafe, but is there a market in that gap?

If there is, maybe there's scope for a partnership? Because signing up for a 7 days pw business sounds ... hard, on your own. 

BrilliantButScary

Don't underestimate the benefits of having a 'high' salary and favourable terms and conditions.

From the information you've given, you don't appear to have been working very long and don't plan to work past 60.

Is going self-employed worth it? Only you can answer that.

I went to university for the first time and changed careers in my forties, it was a good decision for me. 

rachaelwaa

Savvy_Sue said:

There may be a gap in the market for a play cafe, but is there a market in that gap?

If there is, maybe there's scope for a partnership? Because signing up for a 7 days pw business sounds ... hard, on your own. 

Interesting take - thankyou. I definitely need to do more work on the figures to know one way or another. Lots of great play cafes popping up in England but none across the border yet so there must be something in it. Thanks for your input. 

rachaelwaa

BrilliantButScary said:

Don't underestimate the benefits of having a 'high' salary and favourable terms and conditions.

From the information you've given, you don't appear to have been working very long and don't plan to work past 60.

Is going self-employed worth it? Only you can answer that.

I went to university for the first time and changed careers in my forties, it was a good decision for me. 

I’ve worked since finishing my masters degree so I’ve either been in education or employment my whole life. I do think I’m underestimating how difficult it may be to earn a decent wage as I’ve always had relatively good jobs so I’ve never had to worry about money. I think the terms and conditions in my current place of employment will change very soon. 

Thankyou for your input