Contemplating Mid-Life Career or Lifestyle Change--Here's Your Pre-flight Checklist

Before every commercial flight, the pilot and co-pilot go through a comprehensive pre-flight checklist. The pilot will not take off until every single test indicates that the plane is ready for flight. In like manner, anyone contemplating a significant mid-life transition should perform a final checklist prior to springing into action.   Checklist Item 1--Have I Locked in a Realistic Target Vocation? If currently employed, it is vitally important not to abandon a current income producing position until you evaluate every aspect of your alternative target vocation. Are you certain that you are now or can become qualfied to perform necessary job functions? Have I tested myself performing similar tasks? Am I good at them? Would someone pay me to perform them? Am I convinced beyond a doubt that I wish to perform my dream vocation full or part-time over the next 10 to 20 years? Have I anticipated every downside pitfall? Can I overcome potential roadblocks? Am I ready to be my own boss? Have I anticipated the long hours to get started? Can I accept a volatile current income stream and an uncertain payoff down the line?   Checklist Item 2--Have I Completed a Realistic Transition Budget? If your transition involves financial risk, you will need to lock in interim financing to pay the bills and meet potential unanticipated challenges: For those planning early retirement, an extended bear market which diminishes the value of the retirement nest egg. For those seeking alternative employment, a frustrating job search which could extend over several months, even years. For those launching or purchasing a new business, hidden expenses like legal and accounting fees, employee recruitement, rental deposit and furnishing an office. For the soon-to-be self employed, the cost of health and dental insurance and other benefits for self, family and prospective employees.   Checklist Item 3--Do I Have Adequate Plans to Recruit Venture Partners and Build Circles of Cooperation?    Don't count on a significant revenue stream at the start. Can you afford to finance start-up (or buy an existing business) and pay needed employees on your own? If not, you will need to seek out compatable business or investment partners prior to launch. Are you willing to share with others both the risk and reward? Are others willing to share the risk with you? Whether you goal is to buy an existing business, start up a new business, change jobs or launch a new career, you will need to map out an aggressive personal marketing campaign for a single product: you. Are you prepared mentally and emotionally to sell your value to those who matter? Can you package yourself for sale?   Checklist Item 4--Have I Established Firm Target Dates for Accomplishment of Each Transition Objective? This item is perhaps the ingredient most essential to successful mid-life transition. If you are dead serious about changing one or more aspects of your life, I suggest you locate a clean calendar, day planner or notebook page on your computer which covers the next 6 to 12 months. Fill in target start and completion dates for each essential phase of your transition. Once completed, do not set the calendar aside to collect dust! At least once every 2 weeks, you will need to record progress and to reschedule dates for any targets that were missed. By the way, I suggest you share your calendar with family, closest friends and colleagues. It will help you keep on target if you have to explain to others missed deadlines and plans to catch up.   Checklist Item 5--Have I Lined Up Emotional Support from Significant Others? It will prove extremely difficult to revive and sustain positive emotions during transition without active encouragement and cooperation from spouse, offspring and significant others. Obtain agreement in advance regarding transition budget and any required shared sacrifice. Ask family members and closest friends to monitor and critique your transition efforts. Better yet, ask them to join you in the renewal adventure. Be certain to address this most critical issue in advance to ensure your spouse and children will remain supportive if and when you ask them to sacrifice along with you?   Checlist Item 6--Have I Resolved Pressing Ancillary Issues? Pressing challenges to consider and resolve in advance include the following: Can I extend my present family health insurance or purchase alternative coverage at an affordable price? What portion of my pension is accrued? How much will I forfeit if I quit my job now? Will transition require sale of our home and/or relocation? Can we sell it for a decent price in today's market? If we must relocate, do we have a choice of locations? Can we agree upon one? If I quit my job, will we still have enough to send our kids to college? Is my spouse willing to resign his or her position to follow me to a new geographic location? If not, are we prepared to accept long-distance weekend commutes? Should my spouse and I divorce, how will we divide up the assets?   Checklist Item 7--Am I Prepared Mentally and Emotionally for the Targeted Next Stage of My Life? This checklist item is strictly personal. You must confirm beyond all doubt that you are ready to seek out life's next stage: Am I willing to work long hours, face uncertain compensation and substantial financial risk to change job or career or launch my own business? Am I genuinely ready to retire? Will I have enough to do? Can I remain productive and serve others and joyfully living out the remainder of my life? Am I prepared emotionally for the rigors of extended job search? Can I handle rejection? Am I willing to work for less in order to truly enjoy my hours on the job? If I must relocate, will I regret deeply the loss of face-to-face contact with cherished friends and members of my extended family? Will I miss my church, social clubs and civic organizations? Will I poignantly long for familiar locations, relationships and routines? If plans include divorce or separation, am I 100% convinced that our marriage is beyond repair? Does my spouse agree? Am I prepared emotionally to be single again? Will both my spouse and I benefit from living apart? How about the children?   Checklist Completed--Ready for Flight. Once completed, pilots are confident their aircraft is ready for flight to its intended destination. If one or more gages fail, the pilot will not take off until every item is checked out and repaired. In similar fashion, should one or more warning lights click on in your brain, this may indicate the need for additional pre-launch preparation. Worst case, you may need to modify, scale back or delay one or more aspects of your targeted life change while resolutely refusing to abandon your commitment to a joyful and productive future. Keep in mind that it is easier to make necessary modifications before your flight to tomorrow leaves the ground.   Once all seven checklist items check out, you are free to abandon once and for ever any fear of failure. Now take off to the productive, joy-filled life you richly deserve! Remember. you are the confident chief pilot of your personal destiny and a safe flight is assured.    I would love to learn of other checklist items you considered prior to your mid-life transition. Also, inform me of your success and/or unresolved challenges. Please reply to this blog or e-mail me at roy@middleagerenewal.com.