Future Job Insecurity
Bill Gates once said, The advance of technology is based on making it fit in so that you don't really even notice it, so it's part of everyday life. That may be true for things like computer operating systems and smartphones. But if technology eliminates your job, you’ll certainly notice. We’ll talk about careers at risk of being replaced by new tech today on MoneyWise. JOBS AT RISK OF BEING REPLACED If you google future, jobs and eliminate, you’ll get scads of lists about jobs that technology might do away with in the years ahead. Some could be expected, like mail sorters and meter readers. But others are surprising and include air traffic controllers and even pilots. It’s been said that there’s no such thing as job security, but there is employment security. That means there will always be work the trick is to make yourself ready for it. It could also mean choosing a career that’s less likely to be eliminated by technology. These would include things like healthcare workers, software developers, specialized repair technicians and teachers. And with today’s employers desperate to find new workers, it’s a great time to consider a career change. Employers are easing prerequisites and more willing to provide on the job training. They’re far more likely now to consider hiring someone who’s trying to switch over from another field. Making a career change is much more difficult when unemployment is high. THE FIRST STEP So, if you’re thinking about a career change, what’s your first step? It’s making sure you actually need or want to switch careers. Your current job might not be in danger of being automated and you might enjoy what you’re doing just not where you’re doing it. So changing companies, not careers, might be a better move. CHANGING CAREERS But if you really don’t like what you’re doing , start by making a detailed assessment of your skills and interests. Take a career assessment, many of them are offered online. Your answers will generate a list of occupations where you’re more likely to achieve success and satisfaction. Job satisfaction is important, but through this entire process, you also have to keep earning potential in mind. If going into a new career at entry level means temporarily less pay, you’ll have to adjust your budget accordingly. Now that you have a list of new career possibilities, the next step is whittling them down. It could be a long list, but consider each possibility carefully and cross off those that aren’t appealing to you. With that complete, you now have a much shorter list with maybe five possibilities or so. These are the occupations you want to start researching and try to keep an open mind. Start rounding up job descriptions for each of your remaining career possibilities. You also want to look at education requirements. Will you have to go back to school? If so, for how long? And how much will it cost? After gathering all that information, you’ll probably eliminate a few more occupations. Maybe you have only a few left. Prioritize them, then take the one that best meets your needs and put an action plan in place to prepare for it. Talk to employers and workers in that field to find out what’s needed. It could involve going back to school or getting the necessary training some other way. This leads us to the most difficult part of changing careers: making .commitment to landing a job there. If you have to start at a lower level, be willing to do it, just so long as you can earn enough to still meet your monthly obligations. A good verse to meditate on during this process is Proverbs 16: 3.commit your work to the Lord, and your plans will be established. On today’s program, Rob also answers listener questions: ●Is silver a good investment right now with inflation in mind? ●How do you approach taxes as an independent contractor? ●How do you determine when it’s time to stop paying for life insurance? ●Is it wise to take money out of a 401k to pay off credit cards?