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Anonymous

10 Jun 2020

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Is this a good time to upgrade myself to prepare for a mid-career change?

I am currently working as a Creative & I wonder if now's a good time to go back to school for a 3-month course so I can get myself ready when the job market opens up? I have 6 months of expenses saved up, but I do have my house to pay (thank you CPF) and monthly reno bank loan to pay. Thank you!

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Pang Zhe Liang

10 Jun 2020

Fee-Based Financial Advisory Manager at Financial Alliance Pte Ltd (IFA Firm)

Generally, now is always the right time to upgrade yourself. This is regardless of whether you are preparing for a mid-career change for for a job advancement.

In your case, I will suggest for you to have an in-depth understanding on your cashflow. Through this process, we will understand our earning ability and spending habit.

Here is a Guide:

Understanding Your Personal Cash Flow

While you have 6 months of expenses saved up, you may wish to extend this amount by another 3 months. This is because of the current climate that we are facing right now in the economy. In case of any major changes, you can be confident that you do not have to worry about cost. Thsi is especially important for fixed expenses like your renovation loan repayment.

Other than that, I believe that you are in a good position to upgrade yourself now.

I share quality content on estate planning and financial planning here.

Hello there! If you think that the 3-month course value add your career in the future, I think is good to upgrade yourself now so that you can be ready when the job market opens up. In addition, do also check out if the course is recognised by the people working in the creative industry. Lastly, you might want to check out skillsfuture website as well.

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