In your 40s: thinking you're too old to switch careers
Why it happens: "The fear is all about the money," says Rotter. And that makes sense—taking a leap into the unknown is scary, especially when a pay cut or change in salary is involved.
How you can avoid it: Remember that your experiences have value, even if you shift your focus, says Rotter. When you enter a new field, you don't necessarily have to start at the very bottom, so long as you can sell the ways in which your carefully developed skills are an asset.
Thinking about starting your own business? If you can make more money and achieve a better balance as a consultant or freelancer, it might be a smart idea. Once you identify your strengths, weaknesses, how to compensate for the stuff you're not the best at, and your ideal client, you'll have a better idea of what you're up against. It's essential to research your preferred industry before leaving your current jobs by attending industry conferences to network and feeling out whether there's a niche you can fill that will allow you to start earning an income. If there's one thing to invest in, it's a solid internet marketing plan, including a site and social media strategy that reflects your new personal brand.
"It all comes down to is having the gumption to give it a try," says Shelley Hunter, who left her management job at a large oil company to launch Gift Card Girlfriend. "Although at times it felt like I was all over the map, I realized one day that I was gathering the skills and expertise I needed to ensure my business would really go the distance. Everybody has a unique perspective, and if you want to share yours, don't let fear hold you back.