Career Transitions

We understand that changing careers can be both an exhilarating and challenging time in your life. Whether you’re pursuing a long-held passion, seeking new opportunities, or transitioning due to external circumstances, embarking on a new career path requires careful financial planning and guidance.

We are here to support individuals like you who are navigating the complexities of changing careers. Our services are designed to help you assess your financial situation, set realistic goals, and create a comprehensive plan that aligns with your new career path.

Whether you need assistance with budgeting, managing debt, evaluating employee benefits, or planning for retirement in your new profession, our team is ready to provide personalized advice and strategies to help you pursue success during this transformative period.

See real client story below...

(Real client story. Names changed for privacy.)

Background

At age 47, Lisa was earning $350,000 in a successful corporate role that included stock options and a 401(k) plan. When her position was unexpectedly eliminated, she faced several big questions at once, how to manage her severance package, what to do about health insurance, and how to stay on track toward her long-term financial goals while between jobs.

Partnering with Willowbranch

Lisa turned to Willowbranch Financial Group to help her make sound financial decisions during this career transition. Her advisor guided her through immediate cash flow planning, benefits evaluation, and investment strategy, while also helping her consider new career opportunities and their long-term impact on her financial plan.

Building the Plan

With Willowbranch’s guidance, Lisa:

• Managed Cash Flow: Reviewed her severance package and updated her monthly income projections. Used part of the severance to pay down debt and improve financial flexibility while exploring new employment.
• Planned for Short-Term Stability: Determined when severance payments would end, reviewed unemployment eligibility, and created a short-term spending plan aligned with her long-term goals.
• Evaluated Health Insurance: With the help of a Willowbranch strategic partner, compared COBRA coverage with plans on the Health Insurance Exchange. The analysis revealed that the Exchange offered more cost-effective and flexible options.
• Reassessed Retirement Assets: Reviewed the investment options within her 401(k) and decided to roll over the balance into an IRA, giving her greater control over investment choices and better alignment with her personal goals.
• Diversified Concentrated Holdings: Analyzed her company stock options, which had fully vested upon departure, and identified potential tax implications. She diversified a portion of the holdings to reduce concentration risk and strengthen her long-term portfolio.
• Evaluated New Career Opportunities: Used her financial plan to model different income and benefit scenarios across job offers, giving her leverage and confidence during negotiations.

Life Today

Lisa has transitioned successfully into a new role that aligns with both her career goals and financial objectives. She feels confident about her health coverage, investment strategy, and savings plan and she knows that even during unexpected changes, she has a financial roadmap and advisor she can rely on.