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Stay at Home Mom to Executive: A Transition

There are many benefits to staying home with the kids until they are school-age, or until they graduate from high school. Whether you stayed at home to bond, save money, or both—there is much to consider when returning to work full-time.

Stay Connected

If you aren’t ready to return to work yet, but see a return in the next couple of months or years—build your resume now. While you may not have the time for full-time employment, consider part-time work, volunteering, taking online courses, or attending industry conferences to stay up-to-date. We know it’s challenging enough keeping up with family and friends, but you must stay connected to your professional networks as best as you can—even if only on LinkedIn.

The goal is to maintain a professional network. This will look good on your resume, provide you with current references, help you develop or retain skills, and will even help you to feel more confident when it’s time to get back out there.

Consider A Career Change

If you had a clear career path prior to staying at home with the kids, now is the time to consider if that is still the career you want. Since you have a fresh start, now may be the time to pursue other interests or skills. In fact, only about 39% of stay at home parents return to the same position or field they worked in previously. Sometimes, this is because parents require a less demanding career; sometimes, it is because it is simply a better professional fit.

Consider Being Your Own Boss

If you are ready to return to work but still need the flexibility to spend quality time with your family, consider freelancing. Unlike launching your own business, freelancing allows you to work by contract. Sometimes you will work on-site, but most often from the comfort of your own home.As of 2016, freelancers make up 35% of the workforce, and the demand keeps growing.

Practice Makes Perfect

Many at home parents have always planned to return to work, but are surprised at how intimidating if feels—even if it’s only been a few years. This means it is time to brush up on professional skills, learn about new industry technology and trends, and do a mock interview or two. If you have a trusted friend or former colleague who still works in your industry of choice, contact them for mentorship and advice.

Make Sure You Are Financially Prepared For Your Return To Work

Last but not least, you need to make sure you are financially prepared for your return to work. Saving for college, retirement, general savings, and simply creating more breathing room in your budget are sure to be contributing factors as to why you are returning to work. However, going back to work will come with a few new expenses. This could include:

  • Childcare

  • Professional attire

  • Professional electronics and tools

  • Transportation costs

Calculate these costs ahead of time, as they are an excellent way of determining the salary you need to achieve or the value of the benefits that come with your new job.

Reach out to Linden Oak Wealth Partners today to ensure you take a strategic approach to your increased income. We can help you and your family determine the best ways to maximize your additional income, by advising on education planning, retirement planning, debt management, tax planning, investment management, and more!

Linden Oak Wealth Partners offers fee-only financial advising customized for women, in particular, women in transition. Our goal is to create an environment where financial planning is efficient, simplified and easy to understand. We want clients to feel empowered and engaged every step of the way. Please contact us to schedule an initial consultation today.

Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital.

The views expressed in this blog post are as of the date of the posting and are subject to change based on market and other conditions. This blog contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected.

Please note that nothing in this blog post should be construed as an offer to sell or the solicitation of an offer to purchase an interest in any security or separate account. Nothing is intended to be, and you should not consider anything to be investment, accounting, tax or legal advice. If you would like investment, accounting, tax or legal advice, you should consult with your own financial advisors, accountants or attorneys regarding your individual circumstances and needs. No advice may be rendered by Linden Oak Wealth Partners unless a client service agreement is in place.

If you have any questions regarding this blog post, please contact us.